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TrendForce’s latest research finds that global sales of new energy vehicles (NEVs), which encompass battery-electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell vehicles (FCVs), rose by 70% YoY to 2.87 million units for 3Q22. Of the quarterly total, BEV sales accounted for 2.147 million units and registered a YoY growth of 75%, whereas PHEV sales accounted for 714,000 units and registered a YoY growth of 57%.
According to TrendForce research, companies are moving actively on energy conservation and carbon reduction. In the short term, the introduction of automation as an intelligent foundation will attract increasing attention from the industry and emerging market demands such as remote operations, virtual reality, and simulation operations will become more practical in the medium term. This stage of development is expected to solve the dilemma posed by the slow progress of Industry 4.0, accelerate the development of related technologies, and drive the global smart manufacturing market to reach US$620 billion by 2026.
The new car market remained under the shadow of supply chain shortages and the pandemic in 2Q22 but new energy vehicles (NEVs including battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles) still outperformed gasoline vehicles and maintained positive growth. According to TrendForce data, total sales of NEVs in 2Q22 reached 2.192 million units, 53.5% YoY. Sales of battery electric vehicles (BEV) reached 1.608 million units, 64.9% YoY, and sales of plug-in hybrid electric vehicles (PHEV) were 580,000 units, 29% YoY.
According to TrendForce research, sales of electric vehicles (EVs) that can be externally charged or refueled such as BEVs, PHEVs, and FCVs are estimated to exceed 25% of global new vehicle sales by 2025. The main driving force in the market comes from accelerated worldwide decarbonization. In order to meet the goals of carbon neutrality, nations and corporations will eliminate internal combustion vehicles that are highly dependent on fossil fuels and also major carbon emitters.
According to TrendForce data, total sales of new energy vehicles (NEVs including battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles) in 1Q22 was 2.004 million units, an annual growth rate of 80%. Battery electric vehicles (BEV) demonstrated the strongest growth with sales reaching 1.508 million units. Plug-in hybrid electric vehicles (PHEVs) sold 493,000 units. Growth in NEV sales did not come easy, as global auto market sales (regardless of powertrain type) fell by 7% YoY in 1Q22 due to factors such as the chip shortage, Russian-Ukrainian war, and China's pandemic lockdown and prevention measures.