A dramatic move away from ICE-only vehicles is expected and by 2025 only plug-in electric vehicles and HEVs will likely be sold. In Europe, plug-in electric vehicles (BEVs and PHEVs) will rise from roughly a 2% share of total new sales in 2017 to around 9% by 2025, nearly eclipsing 1.5 million vehicles by the middle of the next decade. 1 This leaves pure-ICE vehicles with around 70% of the market share in 2025, with this falling to around 40% by 2030, predominantly in emerging markets.įor both North America and Europe, hybrids and BEVs are set to lead over the next decade as plug-in hybrids are not proving too popular in either region. This sector is forecast to swell from just 3% of global market share to more than 25 million vehicles or 23% of global sales over the same period. While this jump is significant, it doesn’t compare to the kind of growth expected in HEVs - cars that combine a fuel engine with electric elements. Morgan estimates this will rise close to 8.4 million vehicles or a 7.7% market share. Comparatively, in 2016 just under 1 million vehicles or 1% of global auto sales came from plug-in electric vehicles (PEVs). The growth in electric vehicles (EVs) and hybrid electric vehicles (HEVs) is climbing and by 2025, EVs and HEVs will account for an estimated 30% of all vehicle sales. Morgan Research team explores the rise of the electric vehicle and what the industry will look like by 2025.Īutomakers are preparing to phase out cars powered solely by internal combustion engines (ICEs) as governments look to tackle fuel emissions.
The next target date cited by automakers as a tipping point is 2025, when everything from materials and fuel to cost and the companies that build cars are set to look dramatically different.
The car industry is undergoing a radical transformation, with most carmakers agreeing the next 10 years will bring more change than the two previous decades.
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