In a world of electric vehicles, 70% of internal combustion engines will still be on European roads in 2040, says PwC
According to one study, it is expected that The electricity consumption of electric cars and trucks in Europe will increase rapidly: from 16 terawatt hours today to 355 terawatt hours in 2040.
Taking into account the total amount of electricity currently produced in the EU, this corresponds to an additional requirement of 13 percentThe management consulting company PwC informed about this on Thursday. The calculations were performed together with the Fraunhofer Institute for Systems Research and Innovation.
In By 2040, all newly registered cars and trucks in the EU are expected to be battery powered or powered by hydrogen and fuel cells. 70 percent of cars and 65 percent of trucks on the road will likely continue to run on gasoline or diesel.
“It will still be some time before we see mostly electric vehicles in the fleet and push internal combustion engines out of the public,” said PwC strategy expert Philipp Rose. Because older vehicles are on the road less than newer ones, direct CO2 emissions from roads are expected to halve by 2040.
Electric trucks will replace conventional trucks in much of the world within the next 15 years. As early as 2030, zero-emission vehicles (ZEVs) powered by batteries or fuel cells will account for a third of all trucks in Europe, North America and Greater China. By 2035, its share of these markets will increase to around 70%.
This shift is being accelerated by increasingly stringent regulatory requirements and the simultaneously decreasing total cost of ownership (TCO) of ZEVs. In Europe, the war in Ukraine is also increasing the pressure for transformation: many governments are changing their energy policies and reducing their dependence on fossil fuels.
By 2030, approximately 40% of light vehicles worldwide will be based on the BEV platform, and by 2040, a 70% BEV share is expected. In the US, IRA will accelerate the adoption of BEVs, while in China, the relationship with ICE will reduce the cost of electric vehicles. It will be significant. From 2030 to 2040, global battery demand is expected to nearly double to 6.5 TWh.
Electrification is moving from premium segments to basic segments, driven by customer demand. In 2030, there will likely still be a significant price gap between premium and entry-level BEVs, with electrification being widely adopted by the mid-range segment. However, limited differentiation in electrification rates between automotive segments is expected.
Europe’s BEV market could grow by 43% by 2024 as north-south divide emerges Over automobilewoche
| In the world of electric cars, in 2040 70% of internal combustion engines will still circulate in Europe-Audi |
New technologies, changing consumer preferences and increased regulation will help reshape the automotive industry in the coming years
According to the Intergovernmental Panel on Climate Change, transport accounts for about 23% of global energy-related greenhouse gas emissions, with road transport accounting for 72%. In an effort to combat climate change, governments around the world have adopted increasingly stringent emission limits for light vehicles such as passenger cars.
While the industry has historically met these higher standards through incremental improvements in internal combustion engines (“ICE”), vehicle aerodynamics and tire technology, the proposed regulations in some automotive markets will require radical change.
Europe and China will go ahead in the adoption of electric vehicles. Both England and France intend to ban the sale of fossil fuel vehicles by 2040, and Germany is offering significant financial incentives to encourage consumers to buy electric vehicles. China, the world’s largest car market, will start requiring at least 10 percent of new car sales to be fully electric or plug-in hybrids from 2019.
PwC analysis shows electric vehicles could account for around 14% of global new car sales in Europe and China by 2025
PwC Strategy& predicts that the share of car value accounted for by powertrain and electronics will increase significantly by 2025 to a combined 52% from 44% in 2015, at the expense of chassis, body and interior components, partly due to the shift. towards electric vehicles (increased connectivity in cars and advances in assistance system technology are also factors). The lithium-ion battery alone can represent up to 50% of the value of current electric cars
The share of value added to electric vehicles by component suppliers could be 35% to 40%, compared to 50% to 55% for an internal combustion engine car.
The share of value added to electric vehicles by component suppliers could be 35% to 40%, compared to 50% to 55% for an internal combustion engine car.
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So in the world of electric vehicles, in 2040 70% of internal combustion engines will still be circulating on European roads.