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Wood Mackenzie: EVs could account for 21% of global car fleet by 2035 under carbon-constrained scenario

New analysis by energy, metals and mining consultancy Wood Mackenzie, in collaboration with GTM Research, a Wood Mackenzie company focused on researching decarbonization and the decentralization of energy, suggests that electric vehicles could account for 21% of the global car stock by 2035 under a carbon-constrained scenario.

Wood Mackenzie’s carbon-constrained scenario focuses on consistent, marginal change that will disrupt established markets long before a wholesale switch away from hydrocarbons occurs. Among the elements of the scenario is long-term, double-digit growth for renewable energy—specifically wind and solar power—increasing to 30% of total power supply in 2035, up from 8% today. under the carbon-constrained scenario, petrochemical demand growth remains positive, although to a lesser degree than in the base case. However, the transport sector’s projected adoption of EVs would seriously disrupt oil demand.

Wood Mackenzie also notes that in addition to displacing oil demand, the growth in the EV fleet size will force internal combustion engines to become more efficient as consumers demand comparable running costs from legacy engine types. Following exponential growth in EV use, the consultancy sees oil demand hitting its peak by 2025 before declining.

Carbon_Scenario_5

Comments

HarveyD

How many would be PHEVs, batteries + FC combo, FCEVs?

gorr

Search for the climate change big swindle in YouTube and they say clearly that 97% of co2 emissions are coming from natural sources like tree leaves, oceans, volcano, animals, forest fires, etc. Stop immediately to steal my taxes money and pay yourself your researchs and electric cars while im enjoying big rebates by driving my 2014 hyundai accent that do 47 mpg.

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