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Sep 11, 2024
The European Union (EU) passenger automobile market is on the point of
a significant transformation, pushed by the electrification of autos
and tightening CO2 emissions rules.
Our latest whitepaper highlights key developments that can form the
way forward for the European auto trade.
Listed below are some key takeaways:
- The European Union (EU) passenger automobile market is predicted to
expertise a considerable transformation within the coming years. This
is primarily as a result of acceleration of the electrification of
passenger automobiles, pushed by the tightening of fleet CO2 rules
imposed on producers. By 2030, battery electrical autos (BEVs)
and plug-in hybrid electrical autos (PHEVs) are projected to
account for slightly below three-quarters of the market gross sales. - The market share of inside combustion engine (ICE) autos
is predicted to say no considerably, reaching simply 1% of gross sales by
2030. They are going to be partially changed by gentle hybrid electrical
autos (MHEVs) and hybrid electrical autos (HEVs). - The share of diesel autos can also be anticipated to proceed its
decline, reaching solely 2% of the market by 2030, down from 24% in
2021, and greater than 50% in 2015. Gasoline autos will persist for
longer however will progressively lower as electrical autos dominate
the market. - These propulsion developments are anticipated to result in a big
lower in common CO2 emissions, from 115.8 g/km in 2021 to 38.6
g/km in 2030. Nonetheless, some automobile producers might wrestle to satisfy
the regulatory targets, resulting in potential monetary
penalties. - The sturdy development in gross sales of electrified autos will drive a
huge enhance in demand for lithium-ion batteries. The annual
requirement is predicted to develop from 69 GWh in 2021 to 515 GWh in
2030, with BEVs dominating the demand.
For extra insights, entry the complete whitepaper.
This text was printed by S&P International Mobility and never by S&P International Rankings, which is a individually managed division of S&P International.
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