Electric cars will eventually curb oil demand.
The overall sales of electric vehicles are not balanced, and the surge in electric vehicle sales has not had much impact on the composition of the global automotive market
Electric passenger cars are showing strong sales momentum. In the first quarter of 2010, only 395 electric vehicles were sold worldwide. In the third quarter of this year, sales exceeded 1.7 million, of which more than 935,000 were sold in Asia.
In the first quarter of 2010, the percentage of electric vehicles in global passenger car sales can only be reflected in the third decimal place (0.002%).
In the third quarter of this year, the number of digits after the decimal point is almost irrelevant: electric vehicles accounted for 10.8% of total sales, and they have achieved orders of magnitude growth since they accounted for more than 1% in the second quarter of 2017 more than four years ago.
Uneven sales
However, the overall sales of electric vehicles are uneven. Europe’s sales accounted for the largest proportion, with new plug-in electric vehicle sales accounting for 17.4% of total passenger vehicle sales; Asia ranked second, close to the global average of 12%; America ranked third, but it accounted for a relatively small proportion. Less than 4%.
Will electric cars or lithium power batteries end the oil age? How big is the impact of electric vehicles on oil demand? Environmental issues will promote its development.
It is estimated that electric vehicles will account for at least 5% or even as high as 10% of total car sales by 2025. By 2040, electric vehicles may account for more than 25% of the share.
By 2025, gasoline demand for light-duty passenger vehicles will peak and electric vehicles will eventually curb oil demand, but oil demand will not drop sharply.
The growth of oil demand in the next ten years will be mainly driven by heavy-duty truck diesel demand and petrochemicals.
This means that even if the demand for gasoline no longer grows, the demand for oil will continue to grow.
At present, gasoline burned by automobiles accounts for about a quarter of global crude oil demand, diesel demand accounts for 20%, and petrochemicals account for 12%. Although the golden age of oil demand growth may have passed, there is still some oil in the tank of the ‘oil age’.
