Summary
- Global EV sales are predicted to increase by 30% in 2025 compared to this year
- US EV sales are expected to increase by 36%, while figures in Europe and India will be even higher
- Despite uncertainties, EV sales are expected to grow considerably in 2025
- Global EV market share is projected to increase from 13.2% to 16.7% in 2025
- China is expected to have the largest EV market share in 2025 at 29.7%
Article
Global EV Sales Projected to Increase by 30% in 2025
S&P Global Mobility has predicted a significant increase in global electric vehicle (EV) sales for the year 2025. The United States is expected to see a 36% rise in EV sales, while Europe and India are forecasted to experience even higher figures. Despite some uncertainties, such as the scaling back of EV goals by carmakers and potential changes to federal tax credits, the outlook for EVs in 2025 looks promising.
Optimistic Outlook for Electric Vehicles in 2025
According to S&P Global Mobility, the sales of all-electric vehicles are set to grow by 29.9% globally in 2025. The research firm projects that 15.1 million EVs will be sold worldwide next year, representing an increase in market share from 13.2% to 16.7%. In comparison, global light vehicle production is anticipated to decline by 0.4% in 2025, reaching a total of 88.7 million units. The auto industry faces uncertainties, particularly with the incoming universal tariffs under President-elect Trump.
Market Share Predictions for Different Regions
China is expected to maintain the largest EV market share by the end of 2025, at 29.7%. However, the year-over-year change in market share in China is projected to be the smallest among regions at 19.7%. The United States follows with an estimated EV market share of 11.2% in 2025, representing a 36% increase from the previous year. Central and Western Europe are expected to see a significant jump in market share to 20.4%, representing a 43.4% increase.
Region-wise Estimates for EV Sales in 2025
S&P Global Mobility has provided estimates for EV sales in various regions for the year 2025. Central and Western Europe are expected to end 2025 with an EV market share of 20.4%, showing a 43.4% increase from the previous year. The United States is projected to have a market share of 11.2% by the end of 2025, which represents a 36% rise. China is forecasted to hold a 29.7% market share with a 19.7% increase, while India is set to witness a 117% spike in EV market share.
Rise of Electric Vehicles in India
India is expected to double the number of electric vehicles on its roads by December 2025, with a projected market share of 7.5%–a 117% increase from the previous year. These optimistic numbers highlight the growth potential for EVs in India, emphasizing the country’s commitment to sustainable transportation. However, these projections are subject to change based on various factors, including government policies and market dynamics.
Looking Ahead to 2025
Overall, the global EV market looks set to experience significant growth in 2025, with sales projected to increase by 30% compared to the previous year. Despite challenges and uncertainties in the auto industry, analysts remain optimistic about the future of electric vehicles. The shift towards sustainable transportation and advancements in EV technology are expected to drive continued growth in the market, making electric vehicles a key player in the automotive industry in the coming years.
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