Visualizing the Global Electric Vehicle Market



The following content is sponsored by Scotch Creek Ventures.

Electric vehicle market

Visualizing the Global Electric Vehicle Market

Electric vehicles (EVs) are a key piece of the net-zero carbon future puzzle, and the electric vehicle market is growing exponentially.

Countries and governments around the world are recognizing the importance of these zero-emission vehicles and consequently including them in their decarbonization plans. But some countries are far ahead in the EV race, while others are yet to fully embrace EV adoption.

This infographic from our sponsor Scotch Creek Ventures provides an overview of the global EV market and the potential for growth in the United States.

The World’s Largest EV Markets

In 2020, global EV and plug-in hybrid sales crossed the 3 million mark for the first time, and data from the first half of 2021 suggests that we may be in for another year of record-high sales.

Europe and China have been the leading EV markets in both years, with over 80% of plug-in hybrid and battery electric vehicle (BEV) sales occurring in these two regions.

Country/Region2020 sales2020 H1 sales
Europe ??1,390,0001,060,000
China ??1,330,0001,149,000
U.S. ??328,000297,000
Rest of the World ?180,000147,000
Total3,228,0002,653,000

Although country populations are the driver of absolute sales potential, government incentives have played a key role in expanding EV adoption in the interim. For example, several European countries offer tax benefits for purchasing and owning EVs, in addition to incentives like road toll exemptions. Similarly, China’s EV subsidies reimburse buyers different (Read more...)