Frost & Sullivan report EV market outlook for 2022

Frost & Sullivan report EV market outlook for 2022

According to the “Global Electric Vehicles Outlook, 2022” report produced by Frost & Sullivan, of 6.7 million EV units sold in 2021, 70.7% were BEVs, and 29.1% were PHEVs.

Global EV penetration increased from 4.4% in 2020 to 8.8% in 2021. The Asia-Pacific region recorded a 151.7% year-over-year growth. Tesla retained the leadership with sales of 936,172 units, followed by the VW Group with 762,717 units. Tesla (13.8%) and VW Group (11.3%) held 25.1% of the market.

A total of 641,000 MWh of units have been delivered globally in the last 11 years, with 2021 delivering 251,400 MWh, 80% higher than in 2020. EV charger installations surpassed 1.5 million points compared to 1.1 million in 2020, with China (accounting for 65%) having the maximum number, the report says.

The report also speculates that CHAdeMO will be the first prominent charging format to be phased out by 2024. China’s upcoming ChaoJi format is expected to grow in the next decade as it is compatible with AC and DC (like CCS) and with current and old connector formats, the report says. Advanced features such as V2G services, business intelligence, blockchain technology, and suggestive charging pattern, will be available and preferred by network operators in the next five years of management/aggregator cloud platforms.

Leading battery manufacturers (BYD, CATL, and LG Chem) and OEMs (for example, BYD, Daimler, and VW) are now looking at next-generation battery technology. The report states this focuses on module-less battery pack technology, integrating cells directly into the pack without packing them into modules.

You May Also Like

EV tire satisfaction gap widens as wear rates increase, J.D. Power finds

The study shows that EV owners have similar expectations for tire wear as owners of gas-powered vehicles do.

Tesla-Cheapest-EV-to-Run-Model-3-1400

The satisfaction gap with original equipment tires between electric vehicles (EVs) and gas-powered vehicles is widening, as EV owners say their tires are wearing faster, according to the recently released J.D. Power 2024 U.S. Original Equipment Tire Customer Satisfaction Study. J.D. Power said the study shows that EV owners have similar expectations of tire wear as owners of gas-powered vehicles do, despite EV tires naturally wearing faster due to greater vehicle weight and higher torque.

Canoo’s Oklahoma City manufacturing facility approved as a Foreign Trade Zone

The company said the approval will accelerate its made-in-America EV manufacturing strategy, improve unit profitability and enable a faster path to break even.

Canoo-OKC-Factory-1400
Unico releases the BAT300 Series, an EV battery testing solution

Unico said the BAT300 Series is based on the Unico IDAC power platform and offers performance, efficiency and versatility at a reduced cost.

idac-combo
Hexagon Agility expands CNG fuel system manufacturing plant

The company says a green future for trucking is close, and what’s coming next could put fears over a lack of CNG power to bed.

Hexagon-combo
DTNA introduces BEV dealer certification program

DTNA said the program covers over 75 specific criteria in four key areas including safety, charging infrastructure, dealership infrastructure and training.

DTNA-BEV-certification-program

Other Posts

ABI Research finds that global EV sales expected to increase by 21% in 2024

This represents a significant decline from growth rates of 31% in 2023 and 60% in 2022, ABI Research said.

Tesla-Model-Y-1400
Kia’s electrified model sales grew 9% compared to March 2023

The company also delivered its second-highest first-quarter sales total in company history, capped by March sales of 69,472 units.

kia_EV9_2024
Autel Energy Europe releases MaxiCharger launch plan

This system not only promises a surge in charging capabilities, but also ensures a swift and streamlined charging experience.

Autel-MaxiCharger-AC-Elite
Volvo Cars report a 24% increase in March EV sales Y/Y

Volvo Cars said its new fully electric SUV, the EX30, contributed to the sales growth, as well as a strong sales performance in the US.

Volvo-EX30-charging-top-1400