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Electric Vehicles
Global electric car sales continue to break records as affordability improves
Despite recent economic headwinds that have put pressure on the auto sector, global sales of electric cars have continued to break records as electric models become increasingly affordable. Electric car sales exceeded 17 million globally in 2024, reaching a sales share of more than 20%. Just the additional 3.5 million electric cars sold in 2024 compared with the previous year is more than the total number of electric cars sold worldwide in 2020.
In 2025, sales of electric cars are expected to surpass 20 million, accounting for over…
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Heat Pumps
Heat pump sales stalled in 2023 as household budgets were squeezed
Global sales of heat pumps decreased by 3% in 2023 after two consecutive years of double-digit growth fuelled by the energy crisis. This slowdown reflects broader aversion to large-ticket purchases among consumers amid higher interest rates and inflation. Heat pumps are a large investment for households, and sales are particularly sensitive to borrowing costs and consumer sentiment.
At the same time, natural gas prices have mostly declined from their peaks in 2022, highlighting the need to tilt energy tariffs and taxes in favour of cleaner consumer choices…
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CO2 Capture and Utilisation
Country and regional highlights
CCUS and synthetic fuel policies are being strengthened in the United States and Europe
CO2 emissions
CO2 use can bring important climate benefits, but with caveats
Activity
CO2 use for synthetic fuels remains the leading new utilisation route
Technology installation and infrastructure
CCU supply chains can benefit from synergies with fossil-based synthetic fuel production and CCS
Innovation
Policy
Investment
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Coal
Global coal demand to remain on a plateau in 2025 and 2026
Despite unusual trends across several major markets in the first half of 2025, global coal demand is likely to remain broadly unchanged to 2027 as underlying structural drivers of the world’s coal use remain stable.
Global coal demand increased to a new all-time high in 2024 of around 8.8 billion tonnes, up 1.5% from 2023, as rising consumption in China, India, Indonesia and other emerging economies more than offset declines in advanced economies in Europe, North America and northeast Asia. However, several of those…
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Bioenergy with Carbon Capture and Storage
Country and regional highlights
The United States launches a first-of-its-kind purchasing programme for CDR, while funding support and certification efforts emerge in Europe
CO2 capture
Despite increasing awareness around the importance of BECCS for reaching net zero, deployment remains low
Technology installation and infrastructure
Lead times for BECCS projects depend heavily on the application and destination of the CO2
Innovation
Policy
Investment
Investment in BECCS is growing across applications
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Gas Flaring
CO2 emissions
The volumes of natural gas flared in 2022 were around the same level as in 2010
Technology deployment
Oil producers have a range of readily available options to reduce and avoid flaring, with a number of new technologies also under development
Policy
A number of countries have introduced policies to reduce flaring
Investment
Operators that sell high-flaring assets are often passing on a problem to other operators that may be less willing, or less able, to cut down on flaring
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Oil
Oil
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Renewable Integration
Renewable Integration
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International Shipping
Country and regional highlights
Advances in emissions regulations and technologies to decarbonise shipping
CO2 emissions
CO2 emissions from international shipping continued to rebound in 2022 following a dip in 2020
Energy
Scaling up low-emission fuels is the key to decarbonising international shipping
Technology deployment
Methanol-fuelled fleet increasing in near-term
Innovation
Industry continues to develop zero-emission vessels
Supporting infrastructure
Policy
International collaboration
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Light Industry
Country and regional highlights
Important investment programmes are being deployed to push energy efficiency and decarbonisation in light industries
CO2 emissions
While light-industry emissions have declined since 2010, a more rapid decline is needed to get on track with the NZE Scenario
Energy
The share of fossil fuel use is declining, but progress needs to accelerate
Technology deployment
Firms should prioritise technologies for low-emission process heat and increased energy efficiency