GENERAL NEWS
Global EV sales continue to grow
Despite significant uncertainties, electric cars’ market share is on course to exceed 40 % by 2030 as they become increasingly affordable in more markets, says a new IEA( International Energy Agency) report. Following another year of robust growth, global sales of electric cars are on track to surpass 20 million in 2025, accounting for over a quarter of cars sold worldwide, according to the new edition of the IEA’ s annual Global EV Outlook.
The report, published on 14 May 2025, shows that( despite recent economic headwinds), global sales of electric cars have continued to break records as electric models become increasingly affordable. Sales exceeded 17 million globally in 2024, putting EVs’ share of the global car market above 20 % for the first time, as forecasted by the IEA previously. In the first three months of 2025, electric car sales were up 35 % year-on-year. All major markets, and many others, saw new records for first-quarter sales.
“ China maintains its position as the EV market leader, with electric cars accounting for almost half of all car sales in 2024. The number of electric cars sold in China last year( more than 11 million) is equivalent to the total sold worldwide in 2022. Emerging markets
in Asia and Latin |
America have also |
become new centres |
of growth, with total |
electric car sales |
across these regions |
surging by more than |
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60 % in 2024,” outlined the report.
In the United States, electric car sales grew by about 10 % yearon-year
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Fatih Birol, IEA Executive Director. |
affordability, the report finds. On a global level, the average price of a battery electric car fell in 2024 amid growing competition and declining battery costs. |
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, reaching more than one in ten cars sold. Europe saw sales stagnate as subsidy schemes and other supportive policies waned, although the market share of electric cars remained around 20 %.
“ This year, we expect more than one in four cars sold worldwide to be electric, with growth accelerating in many emerging economies. By the end of this decade, it is set to be more than two in five cars as EVs become increasingly affordable,” said IEA Executive Director, Fatih Birol.
Uncertainties over global economic growth
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According to the report, almost one-fifth of electric car sales worldwide are of imported vehicles. China, which accounts for more than 70 % of global production, shipped nearly 1.25- million electric cars to other countries in 2024. This included to many emerging economies, where electric car prices fell considerably on the back of Chinese imports.
The report also includes a special focus on electric trucks and their ownership costs. It found that globally, electric truck sales increased by around 80 % last year, accounting for close to 2 % of all truck sales worldwide. n
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and the evolution of trade and industrial |
policies could affect the outlook. But sales of |
www. iea. org |
EVs are being supported by their increasing |
Image: IEA.
Image: Shutterstock. com.
FABTECH focus on manufacturing solutions
As manufacturers seek new opportunities to enhance productivity and drive the industry forward, FABTECH 2025 is set to showcase the tangible solutions and technology leading the way. North America’ s largest metal forming, fabricating, welding and finishing event returns to McCormick Place in Chicago from 8-11 September 2025.
The event offers a firsthand look at the automation, precision machinery and smart fabrication technology needed to address key industry challenges, including the ongoing skilled labour shortage. More than 45,000 manufacturing professionals from around the world are expected to attend to explore solutions across 850,000 + square feet of exhibits, where over 1,500 suppliers will display the latest innovations shaping the future of manufacturing. Attendees can explore key trends across the show floor such as:
■ Automation and smart manufacturing: Attendees will see live demonstrations of advanced robotics, cobots and AI-powered systems that detect part defects in real time,
reshaping the approach to quality and speed. These solutions can be found throughout all three halls.
■ The Connected Smart Shop: The latest in smart factory solutions will be on display, showcasing how AR / VR, Internet of Things( IoT) and next-gen software are powering flexible, ondemand manufacturing with fewer risks and faster results.
■ Precision technology: Live demonstrations of the latest highspeed fibre lasers, press brakes and fabrication machinery for cutting and welding applications. This technology will be a key feature in the South
Building( forming & fabricating), North Building( welding) and Lakeside Center( stamping and press automation).
■ Sustainable manufacturing: Attendees can explore a range of sustainable solutions, from eco-friendly coating systems to energy-efficient machinery. This trend will be prominent in the Lakeside Center.
The event is organised into seven specialised technology pavilions: Automation; Forming and Fabricating; Tube and Pipe; Stamping and Press Automation; Welding; Finishing and the new Job Shop Pavilion. The comprehensive education programme offers more than 200 sessions and workshops across 13 tracks.
FABTECH’ s five event partners are the American Welding Society; the Chemical Coaters Association International; the Fabricators & Manufacturers Association International; the Precision Metalforming Association and SME. n
www. fabtechexpo. com
6 | ismr. net | ISMR September 2025