Electrified and battery electric vehicles - global sales 2020-2025

Cars with an electrified engine are tipped to account for just under one-fourth of the global market by 2025. It is estimated that pure battery electric vehicles will account for about 7.4 percent of worldwide car sales.

Internal combustion engines are set to lose market share

It is expected that the market share of conventional internal combustion engines will shrink to about 20 percent by 2050, while electric vehicles are projected to account for eight out of ten vehicle sales. Growth in pure battery electric vehicles’ market share shows consumer preference set on fully electric cars. Overall, rising popularity of electrified vehicles could prove vital in carbon dioxide mitigation. Electrified vehicles include cars that may use an electric motor when less power is needed and the main engine could be switched off.

Electrified vehicles are increasingly becoming more competitive

Hybrids have been preferred over battery electric vehicles due to the much larger range of fuel propelled vehicles, but enhanced battery technology of electric vehicle range continues to narrow this gap. Batteries are now also able to power larger cars such as SUVs, enabling new demographics to be targeted.