The International Energy Agency (IEA) publishes an annual report on electric mobility, focusing on the transition to clean energy. The Global EV Outlook 2024 report assesses the deployment of electric vehicles and charging infrastructure, battery demand, investment trends, and policy developments globally. It also examines the impact of wider EV adoption on electricity and oil consumption, as well as greenhouse gas emissions. The report provides insights for policymakers and stakeholders on market systems that support electric vehicle uptake.
The IEA 2024 report indicates progress towards electric cars becoming a mass market product in many countries. Global sales data remain strong, with electric car sales growing by around 25% year-on-year. China, Europe, and the United States are expected to see significant market share increases in electric cars, driven by competition among manufacturers, falling battery prices, and ongoing policy support. In 2023, almost 14 million new electric cars were registered globally, bringing the total number of electric cars on the road to 40 million.
Sales of electric buses are leading the way in the heavy-duty vehicle segment, with several countries achieving high sales shares in 2023. However, sales of electric heavy-duty trucks remain low due to challenges with long-distance charging. Accessibility and affordability of charging infrastructure are crucial for large-scale adoption of electric vehicles. Private chargers outweigh public ones, with many owners charging at home. Home charging availability varies by region, impacting EV ownership patterns.
The growth in EV sales is driving up demand for batteries, with over 750 GWh of EV battery demand in 2023. The United States and Europe experienced the fastest growth in battery demand, followed by China. The global number of public charging points is expected to exceed 15 million by 2030 and nearly 25 million by 2035. These developments are essential for enabling continued EV adoption beyond urban areas and suburbs.
Road transport electrification is expected to result in significant emission reductions globally, offsetting emissions from electricity generation for EVs. Electrification of transportation will lead to more than 2 billion metric tons of carbon emissions avoided by 2035. While there will be additional emissions from electricity generation for EVs, the net saving in carbon dioxide emissions will be around 1.8 billion metric tons by 2035. The choices we make regarding electrification of transportation will have a significant impact on mitigating climate change.
The IEA report underscores the importance of charging infrastructure, battery technology, and policy support in driving the transition to electric mobility. Stakeholders, policymakers, and consumers must work together to accelerate the adoption of electric vehicles and reduce carbon emissions. As the global market for EVs continues to grow, advancements in charging infrastructure, battery technology, and supportive policies will be crucial for achieving a sustainable and clean energy future.
