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Global EV Outlook 2026 Executive summary
…such as China and the European Union. Some countries in Southeast Asia – including Viet Nam, the largest EV market in the region – have already announced plans to expand or extend EV tax incentives as part of their response to the current energy crisis. Electric cars are poised to make up a greater share of total car sales in 2026 The current high oil price environment is drawing consumer attention to the economic benefits of driving EVs. Electric cars generally have lower running costs than internal combustion engine (ICE) vehicles, mainly due to their higher efficiency. The recent rise in oil pr...
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Global Energy Review 2025 Oil
…slowed markedly in 2024, with consumption rising by 0.8% (1.5 EJ or 830 kb/d) to 193 EJ after jumping by 1.9% in 2023. This reflected the end of the post-pandemic mobility rebound, slower industrial growth and the increasing impact of electric vehicles. This 0.8% increase in demand – below the pre-pandemic growth rate of over 1% in the decade to 2019 – was closely in line with the IEA’s first forecast for 2024 set out in June 2023, which noted that structural macroeconomic trends would reassert themselves as Covid pandemic effects eased. Oil’s share…
- Key findings
- Global trends
- Oil
- Natural gas
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Germany 2025 Executive summary
…energy transition. As one era of its energy history draws to a close, another is coming clearly into view – the move away from nuclear, coal and Russian natural gas contrasted by the transition towards renewables, low-emissions hydrogen, heat pumps and electric vehicles (EVs). While the world has been buffeted by geopolitical and geoeconomic challenges in recent years, Germany has worked hard to accelerate its clean energy transition. This report seeks to provide Germany with timely advice on how it can progress towards its energy and climate goals, including in three key focus areas: 1) optimising electricity system operation; 2…
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Global Critical Minerals Outlook 2025 Executive summary
Demand for key energy minerals continued to grow strongly in 2024. Lithium demand rose by nearly 30%, significantly exceeding the 10% annual growth rate seen in the 2010s. Demand for nickel, cobalt, graphite and rare earths increased by 6‑8% in 2024. This growth was largely driven by energy applications such as electric vehicles, battery storage, renewables and grid networks. In the case of copper, the rapid expansion of grid investments in China has been the single largest contributor to demand growth over the past two years. For battery metals such as lithium, nickel, cobalt and graphite, the energy sector accounted…
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Global Critical Minerals Outlook 2025 Overview of outlook for key minerals
…while graphite and nickel demand double. Demand for cobalt and rare earth elements also grows strongly, increasing 50-60% by 2040. Copper is the material with the largest established market, and its demand is projected to grow by 30% over the same period. Battery deployment in electric vehicles (EVs) and storage applications drives strong demand growth for these minerals. Meanwhile, expanding construction and the electrification of grids and industrial equipment are fuelling increased demand for copper. Growing demand for permanent magnets, particularly from EVs and wind power, boosts the need for magnet rare earths.Meeting the rising demand for critical…
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Energy Efficiency Policy Toolkit Transport
…EV prices become more competitive with their conventional counterparts, subsidies can be adapted and redirected in order to increase access to vehicles and improve their affordability, targeting groups where adoption is slower. Financial incentives may also be combined with disincentives for high-emitting vehicles by adding emission-based taxes or fees.More informationThis toolkit provides an overview of the most important elements of each policy instrument, but we encourage policymakers to explore additional resources available for more in-depth information. IEA Global EV Outlook 2025IEA Policies to promote electric vehicle deployment IEA Global EV Policy ExplorerIEA Policy Toolbox for Industrial Decarbonisation
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Gaining an Edge Opportunities in efficiency markets
…At the same time, governments around the world committed at COP28 in Dubai in 2023 to work collectively to double the global average annual rate of energy efficiency improvements.These dynamics have triggered a strong increase in demand for energy efficiency technologies. For example, the market for electric vehicles (EVs) and batteries has grown nearly six-fold from 2020 to 2023, while heat pump markets grew by 36% in the same timeframe. This momentum continued in 2024 with global electric car sales exceeding 17 million. In 2025, sales are expected to surpass 20 milion, accounting for more than one-quarter…
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Sustainable Transport Policy for Armenia: A Roadmap Executive summary
…Georgia is at a pivotal point in shaping sustainable transport policy. This roadmap guides policy makers in making transport cleaner, fairer and more efficient while building on Georgia’s strengths – its location, institutions, competitive wages, low-emissions electricity and natural resources. Key opportunities include assembling and producing electric vehicles; manufacturing cells and battery components for mobility and storage; strengthening regional freight links; and developing low-emissions fuels.Road transport has become cleaner and more efficient, but progress needs to accelerate. Car ownership and freight activity have risen along with incomes, but this comes at a cost: Nearly all of Georgia…
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Stepping Up the Value Chain in Africa Executive summary
…the demand for energy-intensive industries and infrastructure is rising. Strategic investments in sustainable industrialisation can create a virtuous cycle that expands energy access and drives productivity, which in turn can attract more investment.Market opportunities already exist. Globally, the combined market value of six key clean energy technologies – solar photovoltaics (PV), wind, batteries, electric vehicles (EVs), heat pumps and electrolysers – has more than tripled from less than USD 200 billion in 2015 to more than USD 700 billion in 2023. This growth has rippled through the supply chain, leading to growth in markets for refined critical minerals – notably copper, lithium, nickel, cobalt, graphite…
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Renewables 2025 Renewable transport
…The largest share of this growth (45%) will come from renewable electricity used for electric vehicles, especially in China and Europe.Road biofuels contribute the second-largest share (35%), with significant growth in Brazil, Indonesia, India and Malaysia, supported by tightening mandates and rising fuel demand. Aviation and maritime fuel use makes up 10% of growth, primarily owing to mandates in Europe, and the remaining 10% comes from biomethane, renewable hydrogen and hydrogen-based fuels, with activity concentrated in the United States and Europe. Globally, EVs are expected to account for more than 15% of the vehicle stock by 2030…
