Global EV Outlook 2023 – Analysis

Global EV Outlook 2023 – Analysis

20 11 月, 2023

It is no boner that EVs in automotive technology have experienced a rapid adoption boost. This raises the need for an in-depth examination of Global EV Outlook 2023. The Electric Vehicles Initiative (EVI) plays a great role in compiling EV Outlook analyses. 

This analysis aims to highlight information on the history of EV adoption and future projections till 2030. The main points you get insights into are total EVs and chargers sold to date, demand for batteries, carbon emissions, etc.

After this, you can analyse the EV adoption rates and how you see them in future, especially for positive environmental impact. Sounds intriguing? Let’s unveil the facts right in the following article and we have previously introduced an article about the 10 Biggest EV Charging Companies in the US 2023. If you are interested, you can read our article.

Global EV Sales Outlook History and Future Trends

You can see in the table below the rate of EV adoption in China is far more than in any other country. The EV sales for 2021, 2022, and 2023 are presented below for prominent countries. If the adoption continues at the same rate, then by 2030, in China alone, the adoption will rise to 6.6 million. 

Global EV (Electric Vehicle) Sales Past Data and Future Projections
Sr. No.Country2021 (Estimated)2022 (Estimated)2023 (Estimated)2030 Forecast
2United States409,000653,000800,00040,000,000
6United Kingdom108,000117,000130,0006,000,000
9South Korea110,000130,000150,0004,000,000

Global EV Charger Sales Outlook History and Future Trends

In the global market for electric vehicle chargers, significant growth has occurred in recent years. Taking the Chinese market as an example, sales of chargers in 2021 will be 150,000, and by 2023, this number will rise to 210,000. This growth is not only due to the popularity of electric vehicles, but also to the emergence of high-quality charger suppliers.

Especially in 2023, the best 5 AC EV charger suppliers in the Chinese market stand out with their advanced technology and reliable product quality. If this sales trend continues, it is expected that the total sales of electric vehicle chargers in the Chinese market will reach 1.5 million by 2030. The outstanding performance of these suppliers not only promotes the expansion of the market, but also makes an important contribution to the popularity of electric vehicles.

This represents the people’s liking and adoption of the EV. The EV adoption is directly proportional to EV chargers adoption. If one rises, the other rises too. But in short, the EV charger adoption rate is not too high compared to the EV adoption. The general rule is for every 30 to 40 km, one charging station should exist. 

Global EV (Electric Vehicle) Chargers Sales Past Data and Future Projections
Sr. No.Country2021 (Estimated)2022 (Estimated)2023 (Estimated)2030 Forecast
2United States1000001200001400001000000
6United Kingdom220002500028000200000
9South Korea200002500030000200000

Global EV Batteries History and Future Trends

Batteries play a key role in storing the electrical energy. In this section, you will uncover insights into the global EV battery sales in different countries worldwide. China has experienced Ev charger sales in 2021 of around 3.2 million. In the year 2023, this number will rise to 4.45 million. If we continue at the same pace, the number will reach 39 million. 

This represents a boom in the EV batteries market. Understand this: in short, more number of EV means more chargers and a rise in EV batteries. This trend will continue to rise in the future.

Global EV (Electric Vehicle) Batteries Sales Past Data and Future Projections
Sr. No.Country2021 (Estimated)2022 (Estimated)2023 (Estimated)2030 Forecast
2United States245,400391,800480,00024,000,000
6United Kingdom64,80070,20078,0003,600,000
9South Korea66,00078,00090,0002,400,000

Global Carbon Emissions Reduction History and Future Trends

The table below represents the insights on reducing carbon emissions (greenhouse gases). This is true as more and more people move towards purchasing EVs. They become independent from fossil fuel utilisation.

In the table, China and the United states are key in reducing carbon emissions. With the initial adoption, there is a huge decrease in Carbon emissions. But when more than half of vehicles are EVs on the road, the percentage decreases. This ensures a cleaner and greener environment for future generations. 

Global Carbon Emissions Reduction Data By EV Adoption
Sr. No.Country2021 (Estimated)2022 (Estimated)2023 (Estimated)2030 Forecast
1China5.2 %4.8 %4.4 %2.0 %
2United States5.2 %4.8 %4.4 %2.0 %
3Germany4.5 %4.2 %3.9 %1.5 %
4Norway0.0 %0.0 %0.0 %0.0 %
5France4.2 %3.9 %3.6 %1.0 %
6United Kingdom4.8 %4.5 %4.2 %1.5 %
7Japan1.4 %1.2 %1.0 %0.5 %
8Netherlands4.7 %4.4 %4.1 %1.5 %
9South Korea2.6 %2.4 %2.2 %1.0 %

Global Government Incentives Data to Boost EV Adoption

The role of the government is undeniable in boosting the adoption of EVs, EV chargers, and infrastructures. Different countries, states and governments play a key role in this regard.

Some offer incentives for EV charger infrastructure establishment, and some subsidise the EV charger purchase. This way, governments play a role in preserving the environment for future generations. 

The insights on the incentive programs by various countries are right in the table below. You can get familiar with the specific government plan. Manufacturers, suppliers, and buyers can benefit from these plans and subsidies. 

Global Government Incentives/Subsidies for EV Adoption Boost
Sr. No.Country2021202220232030 Forecast
1China13,600 RMB ($2,100) purchase subsidy11,700 RMB ($1,800) purchase subsidy9,800 RMB ($1,500) purchase subsidyPhase out subsidies by 2025
2United States$7,500 federal tax credit (phases out after 200,000 EVs sold by a manufacturer)Varies by state; some states offer additional incentivesVaries by state; some states offer additional incentivesNo federal incentives planned after 2032
3Germany€9,000 ($9,700) purchase subsidy (phases out in 2024)€6,000 ($6,500) purchase subsidy€4,500 ($4,900) purchase subsidyPhase out subsidies by 2030
4NorwayNo purchase subsidies, but EVs are exempt from registration fees, toll fees, and VATNo purchase subsidies, but EVs are exempt from registration fees, toll fees, and VATNo purchase subsidies, but EVs are exempt from registration fees, toll fees, and VATNo purchase subsidies are planned, but EVs will continue to be exempt from registration fees, toll fees, and VAT
5France€6,000 ($6,500) purchase subsidy (phases out in 2023)€5,000 ($5,400) purchase subsidy€2,000 ($2,200) purchase subsidyPhase out subsidies by 2025
6United Kingdom£3,000 ($3,800) purchase subsidy (phases out in 2024)£2,500 ($3,100) purchase subsidy£1,500 ($1,900) purchase subsidyPhase out subsidies by 2025
7Japan¥280,000 ($2,000) purchase subsidy¥250,000 ($1,800) purchase subsidy¥150,000 ($1,100) purchase subsidyPhase out subsidies by 2025
8Netherlands€3,600 ($3,900) purchase subsidy€2,700 ($2,900) purchase subsidy€1,800 ($2,000) purchase subsidyPhase out subsidies by 2025
9South Korea₩7 million ($5,300) purchase subsidy₩3 million ($2,300) purchase subsidy₩1 million ($700) purchase subsidyPhase out subsidies by 2025

In Summary

The adoption of EVs is undeniable. The perks are truly contributing in this regard. You can enjoy low costs in the long run by employing electric vehicles. This is because there are lower or negligible moving components in the vehicle.

Apart from this, the torque you experience is rapid and quick. No fuel needs to be put inside the EV. This means no carbon or other greenhouse gas emissions, which is true for the IC (Internal Combustion) engine. 

EVs are desirable because you can enjoy more miles per unit charge. The operation of the EV is noiseless. These features and their positive impact on the environment are truly desirable. The cutting-edge technology and intelligent features also add up to the worth and value of the EVs. The Global EV outlook for 2023 reflects that this technology is highly beneficial and worth it. 

I believe you will also have a deeper understanding of Global EV Outlook 2023 through this article. At the same time, you can follow our PIWIN to take you to learn more knowledge.