In our&nbsp;<a href="https://www.eia.gov/outlooks/ieo/">International Energy Outlook 2021</a>, we estimate the global light-duty vehicle (LDV) fleet contained 1.31 billion vehicles in 2020, and we project this fleet will grow to 2.21 billion vehicles by 2050. We project electric vehicles (EVs)&mdash;any LDV with a charging plug&mdash;will grow from 0.7 percent of the global LDV fleet in 2020 to 31 percent in 2050, reaching 672 million vehicles. Significant growth in EV sales and shares of sales through the projection period results in the global conventional gasoline and diesel LDV fleet peaking in 2038.
We project that an increase in economic activity, population, and private mobility will result in more global LDVs through 2050. We project the population of non-OECD (Organization for Economic Cooperation and Development) countries will grow at over three times the population growth rate of OECD countries and that the non-OECD motorization rate will increase from 92 vehicles per thousand people to 173 vehicles per thousand people between 2020 and 2050. The OECD countries&rsquo; motorization rate remains around 530 vehicles per thousand people through the projection period. Because of this growth in population and motorization rates, we project the number of LDVs in non-OECD countries will surpass those in OECD countries in 2025.
The 2020 global LDV fleet primarily consists of conventional gasoline and diesel internal combustion engine vehicles, but sales of EVs are projected to grow due to recent technology and policy developments. In our&nbsp;<a href="https://www.eia.gov/outlooks/ieo/">International Energy Outlook 2021</a>, EVs include both full battery, all-electric vehicles and plug-in hybrid electric vehicles that are primarily powered by liquid fuels when batteries are nearly depleted.
We project EV fleet shares will reach 34 percent in OECD countries and 28 percent in non-OECD countries by 2050. Although the conventional LDV fleet peaks in 2023 for OECD countries, faster growth in the non-OECD fleet results in nearly two-thirds of light-duty EVs being in non-OECD countries by 2050.
&nbsp;
&nbsp;

Source: U.S. Energy Information Administration, International Energy Outlook 2021 Reference case

2021/10/EIAVehicleFleetOct21_16352857238826_largethumb.jpg

2021/10/EIAVehicleFleetOct21_16352857238826_thumb.jpg

2021/10/EIAVehicleFleetOct21_16352857238826.jpg

In its International Energy Outlook 2021, the EIA estimates the global light-duty vehicle (LDV) fleet contained 1.31 billion vehicles in 2020. The agencdy projects this fleet will grow to 2.21 billion vehicles by 2050. 

EIA projects global conventional vehicle fleet will peak in 2038

Related Stories

Perry introduces bill to repeal 45Q tax credit

Nebraska ethanol industry remains key economic driver, study shows

Gaining Ground to Unlock New Opportunities

EPA delays 2024 RFS compliance deadline, signals intent to revise 2024 cellulosic RVO

16 AGs call on lawmakers to pass E15 legislation

Upcoming Events

North American SAF Conference & Expo

EIA projects global conventional vehicle fleet will peak in 2038.css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}