Gartner Forecasts 85 Million Electric Vehicles Will Be On The Road By End Of 2025

By the end of 2025, 85 million electric vehicles (EVs) – cars, buses, vans and heavy trucks – are expected to be on the road, according to the latest forecast by Gartner, Inc.

Globally, battery electric vehicles (BEVs) in use are forecast to total almost 62 million units by the end of 2025, an increase of 35% from 2024. Plug-in hybrid electric vehicles (PHEVs) are expected to grow at a slightly slower rate and reach an installed base of 23 million units in 2025, up 28% from 2024 (see Table 1).

Table 1. Electric Vehicle Installed Base by Vehicle Type, Worldwide, 2023-2025 (Single Units)

Source: Gartner (October 2024)

Regionally, the ownership of EVs in China is projected to continue to dwarf the rest of the world's combined installed base through 2025 and likely the next decade. Demand for EVs will steadily grow in Europe and North America, which is projected to account for 36% of global EVs in 2024. By 2025, Gartner estimates 49 million EVs will be on the road in China, compared to 20.6 million EVs in Europe and 10.4 million EVs in North America.

By 2030, Automakers Will Enable the Recycling of 95% of Batteries from EVs to Mitigate the Risk from Raw Material Shortage

With EV sales expected to rise year-over-year, a shortage of raw materials will not be easy to resolve.“A robust recycling effort to take advantage of materials in spent batteries and scrap from the manufacturing production process, which, together with EU efforts to mandate battery recycling, could reduce the need for more mineral excavation,” said Davenport.

Gartner clients can read more in “Forecast: Electric Vehicle Shipments, Worldwide, 2023-2032.”

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