Jato Dynamics launches new analysis of the global market for electric vehicles

In the face of significant population growth, finding efficient and sustainable means of transport presents a huge challenge to both developed and developing economies. The United Nations expects the global population to reach 8.5 billion by 2030 and 9.7 billion by 2050. Much of this growth will take place in Africa, and in countries with already large populations (such as India and the USA), with the greatest proportion happening in urban areas. By 2030 there will be more than 40 ‘mega-cities’ with more than 10 million inhabitants.

But more people means more consumption, more waste and a bigger impact on the environment. This is why new transport solutions must be cleaner, more efficient but still very accessible. This means reducing our reliance on the fossil fuels that currently power millions of vehicles. The continued use of oil as the primary fuel source for road transportation, and fossil fuels for many other parts of our infrastructure, poses major environmental and health problems.

Despite this, we have made slow progress in weaning ourselves off this energy source. The World Bank estimates that 83.6% of energy consumption in USA comes from fossil fuels. The number rises to 88.2% in the case of China, while in countries such as Germany and the UK the proportions are 81% and 84% respectively. In Japan, the world’s third largest car market, coil, oil, petroleum and natural gas account for 94.7% of total energy consumption. In many developed economies the transport sector is the number one consumer of oil (in the USA, for example, this accounts for 70% of all consumption), so it’s not surprising that policymakers and industry are increasingly looking to Electric Vehicles (EVs) as a solution.

The EV market is still in the introduction phase of the commercial lifecycle. These types of vehicles face a complicated landscape comprising of conservative consumers, patchy infrastructure and regulatory hurdles. Despite these challenges, the latest data from Jato Dynamics suggests that demand for EVs is gaining momentum. The company's paper examines the current state of the market and argues that current trends point to a bright future for EVs as they continue on their journey from fiction to reality.

Download the full version of Jato's White Paper here: 'From Fiction to Reality: The evolution of electric vehicles 2013-2015'