Professional electric vehicle parts supplier.
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Professional electric vehicle parts supplier.
The global electric vehicle market continues to expand, mainly reflected in sales growth, ownership rise, market revenue increase and other aspects, the following is a specific introduction:
• Sales continue to grow 4:24 Global sales of pure electric and plug-in hybrid vehicles exceeded 17 million, achieving approximately 25% growth. In December 2024, global sales of pure electric vehicles and plug-in hybrid electric vehicles increased by 25.6% year-on-year to 1.9 million units.
The number of electric vehicles in the world is nearly 42 million in 23 years, and in 2024, the international consultancy Gartner predicts that the number of electric vehicles in the world will reach 64 million, and in 2025, it is expected to increase by 33% year-on-year to 85 million.
According to Statista data platform statistics, the global electric vehicle market revenue in 2024 is expected to reach 786.2 billion US dollars, and will maintain a stable compound annual growth rate of 6.63% between 2024 and 2029.
• Regional market expansion 2: China, the United States and Europe are important markets for the production and sales of electric vehicles worldwide, and demand for electric vehicles is also rising rapidly in emerging economies such as Southeast Asia, such as Vietnam, where electric vehicle sales will account for 15% of vehicle sales in 2024.
The global electric vehicle market continues to expand for the following reasons:
• Policy support: Countries and regions related to the world's major automotive markets have proposed "carbon peak" and "carbon neutral" targets, and many countries have given a timetable for banning fuel vehicles, such as the United Kingdom, Canada and other countries, most of the target time is concentrated between 2030 and 2040, which promotes the automotive industry to accelerate the transformation to electric.
• Technological progress: battery technology and charging technology are constantly updated, solving problems such as battery life and improving the performance and convenience of electric vehicles. At the same time, the integration of electric vehicles with artificial intelligence, the Internet, big data and other technologies has opened up new market space.
Cost reduction: Market competition and mass production have led to a gradual decline in the price of electric vehicles, making it easier for consumers to accept electric vehicles.
• Change in consumption concept: consumers are paying more attention to environmental protection and are more inclined to choose low-carbon and environmentally friendly modes of travel, and electric vehicles meet this demand.
Regarding the future of the global electric vehicle market, the International Energy Agency expects continued strong growth in global demand for electric vehicles over the next 10 years.12 With the continuous progress of technology, the improvement of infrastructure and the continuous support of policies, the electric vehicle market is expected to continue to maintain the trend of expansion, and the proportion of the global automobile market will continue to increase, further reshaping the global automobile industry pattern.
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