Electric Vehicle Statistics By Region, Market Share and Brand

Introduction

Electric Vehicle Statistics: Electric vehicles (EVs) have become a market trend. There are many types, such as HEVs, PHEVs, and BEVs. Unlike regular vehicles that depend on fossil fuels, EVs depend on electricity as their main source of power. Electric vehicles make less or zero emissions, depending on how the electricity is generated.

Most of the common benefits of EVs include cost savings, reduction in gas emissions, improvement in air quality, enhanced energy efficiency, and reduction in dependence on natural resources. Let’s understand the current trends in the market through these Electric Vehicle Statistics.

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• It is reported that if a Level 2 outlet is used, then most of the new electric vehicles will take up to 12 hours to charge.
• As of 2023, the preference rate for the propulsion-type electric car in the USA is, on average, 23%.
• The worldwide market for electric vehicles is expected to reach 17.07 million units by 2028.
• Tesla’s Model Y was the best-selling electric car in the USA in 2023, with a total sales of 403,700 units.
• According to a report by Our World in Data, Norway sold the most cars that were electric, contributing 93%.
• Most of the largest EV manufacturers are based in China, with a collective production of 4,06,528 megawatts per hour. Korea ranks second and Japan third, with respective production capacities.
• Electric Vehicle Statistics report that EV sales in the USA increased 60% year over year from 2022 to 2023, reaching 1.6 million.
• In the previous year, Australia was the leading lithium mine-producing country, with 86,000 metric tons of production.
• 77% of people are willing to purchase an EV, stating that saving money on gas is the leading reason to consider the purchase of an EV.
• According to the Worldwide Electric Vehicle Statistics 2024, the market is estimated to reach USD 623.3 billion.

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General Electric Vehicle Statistics

• As of 2023, the preference rate for the propulsion-type electric car in the USA is, on average, 23%.
• In 2023, one out of every four sold cars was reported to be electric.
• Electric Vehicle Statistics report that EV sales in the USA increased 60% year over year from 2022 to 2023, reaching 1.6 million.
• In Q1 of 2023, the total sales of electric vehicles worldwide reached 2.3 million units.
• In 2023, around 26 million EVs were reported to be active on roads worldwide.
• 77% of people are willing to purchase an EV, stating that saving money on gas is the leading reason to consider the purchase of an EV.
• It is reported that if a Level 2 outlet is used, then most of the new electric vehicles will take up to 12 hours to charge.
• Electric Vehicle Statistics estimates that if the use of EVs stays persistent by 2030, 5 million barrels of oil per day will be saved.
• 50% of American adults are not at all willing to purchase an EV.

Electric Vehicle Statistics by Region

Worldwide

• According to the Worldwide Electric Vehicle Statistics 2024, the market is estimated to reach USD 623.3 billion.
• Furthermore, between 2024 and 2028, the market is estimated to grow at an annual growth rate of 9.82%, therefore reaching USD 906.7 billion by the forecast period.
• The worldwide market for electric vehicles is expected to reach 17.07 million units by the forecast period.
• In 2024, the volume-weighted average price is anticipated to reach USD 52.9k.
• In comparison to the worldwide comparison, China is expected to generate the most revenue, contributing USD 319,000 million in 2024.

Electric New Car Sales Share

(Reference: ourworldindata.org)

According to a report by Our World in Data, Norway sold the most cars that were electric, contributing 93%. Sweden contributed 60%, whereas China, the United Kingdom, and Germany reported less than 50% of the share. Electric Vehicle Statistics show that the worldwide average in the same category is 18%.

Total Unit Sales in the Worldwide Market

(Source: statista.com)

America

• According to Electric Vehicle Statistics 2024, the market in the USA is expected to be valued at USD 92.9 billion.
• In addition, by 2028, the American electric vehicles market is expected to grow at a CAGR of 17.94%, reaching USD 179.7 billion.
• The weighted average price of a similar market in the current year is projected to amount to USD 64.1k.
• By 2028, the unit sales are anticipated to reach 2.79 million vehicles.

Asia

• In the Asian Electric vehicles market, the volume-weighted average price is estimated to be USD 47.5k in 2024.
• The unit sales in the market are projected to be 9.30 million by 2028.
• In addition, it will grow at a CAGR of 5.77%, reaching USD 428.2 billion by the forecast period.
• In 2024, the estimated revenue in the electric vehicles segment is USD 342.1 billion.

Africa

• The African electric vehicles market is expected to amount to USD 85.6 million in the current year.
• In addition, between 2024 and 2028, it will grow at a CAGR of 17.33%, reaching USD 162.2 million.
• Furthermore, in 2024, the volume-weighted average price of electric vehicles is projected to reach USD 39.5k.
• The unit sales of electric vehicles are projected to reach 4.19k by 2028.

Australia and Oceania

• The market is expected to amount to USD 5.4 billion in the current year. Between 2024 and 2028, it will grow at a CAGR of 15.75%, reaching USD 9.7 billion.
• The volume-weighted average price is projected to reach USD 68.5k.
• In addition, the total unit sales are expected to be 143.50k by the forecast period.

Europe

• Electric Vehicle Statistics estimate that, by 2028, the European electric vehicle market will grow at a CAGR of 12.11%, reaching USD 288.9 billion.
• Currently, it is estimated that it will reach USD 182.9 billion.
• The unit sales of electric vehicles are projected to reach 4.83 million vehicles.
• In addition, the volume-weighted average price of electric vehicles is estimated to amount to USD 60.1k.

Best Selling Battery-Electric Vehicles in the USA

(Reference: statista.com)

According to the Electric Vehicle Statistics, Tesla’s Model Y was the best-selling electric car in the USA in 2023, with a total sales of 403,700 units. Furthermore, Model 3 from the same brand, Chevrolet Bolt, R1T/R15/EDV 700, and Mustang Mach-E by GM, Rividan, and Ford respectively, became the best-selling battery-based electric vehicles.

Plug-in Electric Vehicles Market Share by Manufacturers

(Reference: statista.com)

According to Electric Vehicle Statistics by manufacturer market share, BYD topped the list with the most captured market, contributing 22%. Tesla Inc. and VW Group followed, respectively, with 13.2% and 7.3%. Furthermore, other companies with less than 5% of the market share collectively make up 45%.

Largest EV Battery Manufacturers Worldwide by Capacity

(Reference: statista.com)

Based on the above chart, most of the largest EV manufacturers are based in China, with a collective production of 4,06,528 megawatts per hour. In addition, Korea ranks second and Japan third with respective production capacities.

Public Electric Charging Stations by Network

Based on a survey conducted by Statista, the following are the electric charging stations by the network in the USA.

(Source: statista.com)

Plug-in Electric Vehicle Sales Worldwide by Brand

(Reference: statista.com)

In 2023, BYD overtook Tesla with 2,876,748 unit sales, while the latter recorded 1,808,652 sales. BMW generates more than 500,000 unit sales. On the other hand, these brands could reach less than 500,000 sales: GAC Aion, Volkswagen, SAIC/GM/Wuling, Li Auto, Mercedes, Changan, and Geely.

Major Lithium Mine Production Countries

(Reference: statista.com)

In the previous year, Australia was the leading lithium mine-producing country, with 86,000 metric tons of production. However, China and China produced less than 50,000 metric tons, while Argentina, Brazil, Canada, and Zimbabwe recorded less than 10,000 metric tons of production. In 2023, Portugal contributed 380 metric tons of production.

Concern About Battery-Based Electric Vehicles

(Reference: statista.com)

According to Electric Vehicle Statistics by consumer concern, the time required to change the battery is the leading cause with 50% of votes to Statista survey. In addition, driving range, cost/ price premium, and cost to replace batteries are remaining causes of concern among American consumers.

Electric Car Charging Stations in the USA by State

(Source: statista.com)

Electric Cars: A Shift in Gears

Electric cars (EVs) are revolutionizing the way we drive. Compared to traditional petrol or diesel-powered vehicles, EVs function with a completely different engine under the hood. Let’s delve into the world of EVs, exploring their workings, prospects, features, and the driving forces behind their growing demand.

Under the Electric Hood: A World of Difference

The core difference between EVs and gasoline cars lies in their power source. Petrol and diesel cars burn fuel in an internal combustion engine (ICE) to create energy, which then propels the car forward. EVs, on the other hand, ditch the ICE altogether. Instead, they rely on a high-voltage battery pack that stores electricity. An electric motor powered by this battery drives the wheels.

Here’s a breakdown of the key components of an EV:

• Battery Pack: At the heart of the EV, the battery pack stores the electrical energy that powers the car. These packs are typically made up of many lithium-ion cells, similar to those found in laptops and smartphones. Battery range, which is the distance an EV can travel on a single charge, depends on the size and capacity of the battery pack.
• Electric Motor: This motor converts the electrical energy from the battery into mechanical energy, ultimately powering the wheels and driving the car. Unlike an ICE, an electric motor delivers instant torque, providing a smooth and responsive driving experience.
• Regenerative Braking: EVs recover energy during braking. When you slow down or press the brake pedal, the electric motor acts like a generator, converting the car’s momentum back into electricity and recharging the battery to a certain extent.

The Road Ahead: A Bright Future for Electric Cars

The future of electric cars is brimming with potential. In 2024 and beyond, several factors are expected to contribute to their widespread adoption:

• Government Incentives: Many countries are offering tax breaks, subsidies, and other incentives to encourage people to buy EVs. This not only makes EVs more affordable but also sends a strong signal that governments are committed to a clean transportation future.
• Falling Battery Costs: The cost of lithium-ion batteries, a key component of EVs, has been steadily decreasing over the past decade. This trend is expected to continue, making EVs even more price-competitive with gasoline cars in the coming years.
• Increasing Charging Infrastructure: One of the biggest concerns for potential EV buyers is “range anxiety” – the fear of running out of power before reaching a charging station. However, governments and private companies are investing heavily in building a robust network of charging stations, both public and private, to alleviate this concern.
• Environmental Concerns: With growing awareness about climate change and air pollution, people are increasingly looking for eco-friendly transportation options. EVs produce zero tailpipe emissions, making them a significant contributor to cleaner air and a healthier planet.
• Technological Advancements: The technology behind EVs is constantly evolving. Battery range is improving, charging times are getting faster, and innovative features are being developed constantly. These advancements will further enhance the appeal of EVs to consumers.

Packed with Features: Geared Up for the Future

Modern electric cars come equipped with a variety of features that not only improve the driving experience but also showcase the technological prowess of these vehicles:

• Regenerative Braking Systems: As mentioned earlier, these systems capture energy during braking, extending the car’s range.
• One-Pedal Driving: Some EVs offer a one-pedal driving mode, in which simply lifting your foot off the accelerator pedal slows the car down significantly and, in some cases, brings it to a complete stop, maximizing regeneration.
• Connected Car Technology: Many EVs come with built-in connectivity features, allowing you to monitor battery charge remotely, locate charging stations, and even pre-heat or cool the car before you get in.
• Advanced Driver-Assistance Systems (ADAS): EVs are often at the forefront of safety technology, offering features like automatic emergency braking, lane departure warning, and adaptive cruise control.
• Quiet and Smooth Ride: Electric motors operate silently compared to gasoline engines, offering a more peaceful driving experience. Additionally, the absence of an ICE translates to a smoother and more responsive ride.

Demand Drivers: Why People Are Going Electric

Several factors are driving the increasing demand for electric cars around the world:

• Fuel Efficiency and Cost Savings: Compared to gasoline cars, EVs offer significantly lower running costs. Electricity is generally cheaper than gasoline, and with home charging options, you can avoid frequent trips to gas stations.
• Environmental Benefits: As discussed earlier, EVs produce zero tailpipe emissions, making them a cleaner alternative to traditional gasoline cars. This is a major factor for environmentally conscious consumers.
• Government Incentives: As mentioned previously, government incentives like tax breaks and subsidies are making EVs more affordable, enticing more people to consider them when purchasing a car.
• Performance and Technology Appeal: Electric cars offer instant torque, providing a thrilling acceleration experience that many find superior to gasoline cars. Additionally, the constant advancements in EV technology – from longer ranges to faster charging – make them attractive to tech-savvy consumers.

Challenges on the Road: Hurdles to Clear

Despite the positive outlook, there are still some challenges that need to be addressed for EVs to achieve complete mainstream adoption:

• Upfront Cost: While battery costs are decreasing, EVs generally have a higher upfront purchase price compared to gasoline cars. Government incentives and falling battery costs can help bridge this gap, but affordability remains a concern for some buyers.
• Charging Infrastructure: Although the charging infrastructure is growing rapidly, it still lags behind the number of gas stations. This can be a concern for people who live in areas with limited charging options or those who frequently take long road trips.
• Charging Time: While fast-charging technology is improving, charging an EV typically takes longer than filling up a gas tank. This can be inconvenient for some drivers, especially those who are used to the quick refueling times of gasoline cars.
• Battery Range Anxiety: Though the range is improving, some people still experience range anxiety, worrying about running out of power before reaching a charging station. This can be a barrier for those who take frequent long trips or live in areas with limited charging options.

Conclusion

The electric car revolution is well underway. With continuous advancements in technology, government support, and growing environmental concerns, EVs are poised to become the dominant force in the automotive industry, as proven by Electric Vehicle Statistics. While challenges remain, the future looks bright for electric cars.

As battery costs decrease, charging infrastructure expands, and range anxiety becomes a thing of the past, EVs are on track to become a mainstream choice for drivers worldwide, paving the way for a cleaner and more sustainable transportation future.

Ketaki Joshi

Ketaki Joshi is a professional medical writer with extensive experience in scientific research on illness, health, and healthcare. Her work includes creating feature articles for newsletters and websites, as well as research news stories for doctors and researchers. With a lifelong passion for reading, Ketaki transitioned from a career at a French multinational company to pursue writing professionally. Her dedication to the craft has culminated in the recent release of her first Amazon-published short story, "The Envelope That Changed Our Lives."

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