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IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

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Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018.

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Navigant forecasts global light duty electrified vehicle sales to exceed 6.0M in 2024; PEVs to account for roughly half

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In a new report, Electric Vehicle Market Forecasts , Navigant research projects that under its base scenario, global sales of light duty electrified vehicles (i.e., vehicles that use electricity for traction, including hybrids, plug-in hybrids, and battery-electrics) will grow from 2.6 million in 2024.

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Navigant forecasts global medium- and heavy-duty alt powertrain sales to exceed 820K units in 2026

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According to a new forecast report from Navigant Research, global commercial alternative powertrain medium- and heavy-duty vehicle (MHDV) sales will grow from about 347,000 vehicles in 2016 to more than 820,000 in 2026, representing a CAGR of about 9%. Medium- and heavy-trucks represent 4.3% of vehicles in the US, drive 9.3%

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EIA AEO2015 projects elimination of net US energy imports in 2020-2030 timeframe; transportation energy consumption drops

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AEO2015 presents updated projections for US energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High Oil Price, and High Oil and Gas Resource) that reflect updated scenarios for future crude oil prices. trillion cubic feet (Tcf) in the Low Oil Price case to 13.1

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EIA Energy Outlook 2013 reference case sees drop in fossil fuel consumption as use of petroleum-based liquid fuels falls; projects 20% higher sales of hybrids and PHEVs than AEO2012

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new appliance standards and CAFE) and changes in the way energy is used in the US economy. Increased sales for hybrids and PHEVs. quadrillion Btu in 2035, as a result of fuel economy improvements achieved through stock turnover as older, less efficient vehicles are replaced by newer, more fuel-efficient vehicles.

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BNEF forecasts EVs to hit 54% of new car sales by 2040; decreasing importance of PHEVs

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Under the new forecast, EVs will displace 8 million barrels of transport fuel per day and add 5% to global electricity consumption (1,800 TWh by 2040 up from 6TWh in 2016). We see a momentous inflection point for the global auto industry in the second half of the 2020s.

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MITEI releases report on Electrification of the Transportation System

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The transportation sector thus represents a significant fraction of total greenhouse gas (GHG) emissions both globally and in the US—light-duty vehicles (LDVs) are responsible for 17.5% Electrification will also reduce oil dependence, providing foreign policy benefits and the potential to reduce real oil prices and oil price volatility.