Half of All Cars Sold by 2030 Will Be Battery Powered Electric, New Forecast Reveals

Electric vehicles have gone from being intriguing ideas to mainstays of the vehicular market because of the fact that this is the sort of thing that could potentially end up allowing people to drive their cars whilst avoiding toxic fossil fuels. According to a report that was just put out by Counterpoint Research, around half of all cars that are sold in 2030 will likely contain some kind of electric powertrain.

With all of that having been said and now out of the way, it is important to note that not all electric vehicles will attain widespread popularity in the next decade. Hydrogen cell powered cars are not expected to see much of an increase, but in spite of the fact that this is the case battery powered electric vehicles are likely going to vastly improve their current market share. Electric powered vehicles currently only comprise 10% of the market share, but consumer sentiments are shifting in their favor with all things having been considered and taken into account.

The biggest future market for electric vehicles by far is China. It is projected to have a 54% share of electric vehicles that are battery powered, with 10.8% being plug in hybrids, 33.6% being old school fossil fueled vehicles and just 1.6% being hydrogen cell powered. This is followed by Europe, where 42.8% of all cars are expected to be electric battery powered by 2030, and then the US where the number plummets to 28.8%.

Japan and India will continue to have high internal combustion engine usage rates, 60.7% and 79.5% of all cars in these countries projected to use fossil fuels by 2030. However, India will be a marginally bigger market for electric vehicles since 20.4% of its cars will be battery powered by 2030 as opposed to just 19.5% for Japan.

The electric vehicle trend is starting to pick up a lot of seem, and China appears to be leading the charge. Other countries might continue to stay reliant on fossil fuels, but this growth rather is still quite high.
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