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Frost & Sullivan report EV market outlook for 2022

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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.

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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.

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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.

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