The global electric vehicle (EV) market is set to defy scepticism, with analysts forecasting a significant 30% growth in sales for 2025. According to S&P Global Mobility, battery-electric vehicles (BEVs) are projected to achieve 15.1 million units in sales, capturing 16.7% of the global car market. This marks a significant increase from the estimated 11.6 million BEVs sold in 2024, which accounted for 13.2% of the market.
While some automakers have expressed concerns about weakening demand for EVs, industry experts remain optimistic about the sector’s trajectory. The anticipated growth underscores the accelerating shift toward sustainable transportation, although the pace of adoption will vary significantly across different regions.
Regional Trends in EV Adoption
The rate of EV adoption is expected to differ widely across regions, shaped by a combination of government policies, incentives, and infrastructure development. In India, for example, EVs are predicted to make up just 7.5% of total vehicle sales in 2025. However, the country is witnessing rapid growth, with EV sales expected to rise by 117% year-on-year as it builds the foundation for electrification.