This study presents a comprehensive analysis of the electric vehicle market. In particular, it highlights the issues faced by electric vehicle owners, the specifics of electric transport policies, and the development prospects of this sector.

Electric Vehicle Initiative

The Electric Vehicle Initiative (EVI) is an intergovernmental policy forum established in 2010 as part of the Clean Energy Ministerial. EVI aims to accelerate the adoption of electric vehicles globally and facilitates the exchange of ideas between policymakers and a range of other stakeholders. The forum addresses topics critical to the transition to electric mobility, such as charging infrastructure and grid integration, as well as supply chains for electric vehicle batteries.

In 2022, the EVI launched the Zero-Emission Government Fleet Declaration, representing a commitment by governments to transition to 100% zero-emission vehicles in public procurement.

The International Energy Agency serves as the coordinator of the initiative. Governments that actively participated in the EVI during 2022-2023 include Canada, Chile, the People’s Republic of China, Finland, France, Germany, India, Japan, the Netherlands, New Zealand, Norway, Poland, Portugal, Sweden, the United Kingdom, and the United States. Canada, China, and the United States are the co-leaders of the initiative.

Trends and development of Electric Vehicle Markets

Electric vehicle sales in 2022 set new records despite macroeconomic and geopolitical uncertainty, as well as high prices for commodities and energy.

The growth in electric car sales occurred against the backdrop of a global decline in automotive markets: overall sales in 2022 decreased by 3% compared to 2021.

On the other hand, more than 10 million electric cars were sold, which is 55% more than in 2021. Sales in China increased by 80%, accounting for 60% of global growth.

Growth in Europe remained strong (up to 15%) and accelerated in the United States (up to 55%).

Preliminary sales data for the first quarter of 2023 indicates market optimism, driven by decreasing costs and strengthened political support in key markets such as the United States.

As a result, nearly 14 million electric vehicles will be sold globally in 2023. This will raise the global market share of electric car sales to approximately 18%.

Of course, there are negative risks for the 2023 forecast: a sluggish global economy and the gradual phasing out of subsidies for Neighborhood Electric Vehicles (NEV, a U.S. category for battery electric vehicles typically designed for a maximum speed of 40 km/h and a mass of 1,400 kg) in China may slow the growth of global electric vehicle sales in 2023. On the other hand, new markets may emerge faster than expected, as high oil prices persist, strengthening the case for electric vehicles.

Development of Electric Mobility Policy

The transition from internal combustion engines (ICE) to electric vehicles is a top priority for achieving zero-emission goals, regardless of the vehicle’s size. However, mitigating the impact of increasing battery sizes will also be of great importance.

In France, Germany, and the United Kingdom in 2022, the average weight of a battery-powered SUV was 1.5 times higher than that of a small battery electric vehicle, requiring more steel, aluminum, and plastic. As a result, CO2 emissions associated with material processing, manufacturing, and assembly can be estimated to be more than 70% higher.

Of course, more compact cars typically require less energy to operate and fewer materials to build, but electric SUVs still offer significant advantages over internal combustion engine (ICE) vehicles.

Charging infrastructure

Public charging stations are becoming essential for the wider adoption of electric vehicles.

While most of the current demand for electric power is met through home charging, public charging stations are increasingly needed to provide the same level of convenience and accessibility as refueling traditional cars. This is especially true in densely populated urban areas, where access to home charging is more limited. In these regions, public charging infrastructure is a key factor in promoting the adoption of electric vehicles.

By the end of 2022, there were 2.7 million public charging stations worldwide, with over 900,000 installed in 2022, representing an increase of approximately 55% compared to 2021.

Source: International Energy Agency: “Global EV Outlook 2023. Catching up with climate ambitions.”



Electric vehicle market

research by MIM

Experts from the strategic marketing agency MIM have also conducted an analysis of the electric vehicle market in Europe.

Below are the conclusions drawn from the research:

1. The number of public charging stations will continue to grow, and their share among the total number of charging stations will also increase.

According to expert estimates, by 2030 there will be approximately 5 million fast and about 8 million slow public charging stations worldwide.

Number of Charging Stations

2. The market is not monopolized, allowing users the freedom to choose a specific network or charging location.

Growth of public charging stations

3. When charging along a daily route, users do not encounter issues with charging, as they understand the conditions of the operator and adapt accordingly, for example, by downloading an app.

Problems begin to arise during long trips, where users need to combine charging stations from different operators.

4. After analyzing electric vehicle charging networks in Europe and the United Kingdom, the following methods for locating and paying for charging stations were identified:

  • aggregator apps, such as PlugShare and ChargeMap;
  • individual company apps (e.g., Toa, Smoov app, or Allego);
  • rechargeable payment cards for specific charging station companies;

Aggregator App: PlugShare

Company App: Tao

5. Without using a smartphone, payment can be made with a bank card at some stations.

The drawback is often inflated rates compared to payment via smartphones or subscription services.

Several aggregators already exist in the market, utilizing different payment models and interaction methods.

The electric vehicle market is rapidly evolving.

There is already a growing demand for eco-friendly transportation. This is driven by government policies and people’s desire to reduce their environmental impact. In the coming years, we will witness electric vehicles gradually replacing internal combustion engine (ICE) cars.

Of course, at this stage, there are challenges hindering the transition to “green” transport—such as charging difficulties, limited range, and other shortcomings. However, these issues are solvable. Therefore, there is no doubt about the promising future of this sector.

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