A Deep Dive into Recent Trends and the Future of Electric Car Markets

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The global vehicle industry is going through a big change towards more eco-friendly electric cars. To reduce gas emissions and deal with climate change effects, many governments and car companies are really promoting developing and buying electric vehicles (EVs). 

Understanding upcoming trends and the future of electric cars is key for businesses and customers. It helps with important buying decisions about transportation needs in the coming years.

Electric Car Markets

8 Predicted Development Trends in the Electric Vehicle Industry

The electric vehicle market is rapidly evolving with advancements in technologies and policy support. Over the next several years, the following predicted EV trends will help define the industry’s trajectory and the future of electric cars:

The Scale of Electric Vehicles Continues to Grow

Industry analysts anticipate the EV market share in key regions like the United States to rise significantly. Some forecasts predict that EVs may comprise 50% of new light-duty vehicle sales as early as 2030. Currently, EVs only make up around 3-4% of the market.[1] 

Among EU countries, the number of alternative-fueled vehicles reached 17,816,777 by 2023, accounting for 6.15% of the total fleet.[2] 

By 2022, Europe will be the world’s second-largest electric vehicle market after China, accounting for 25% of total electric vehicle sales. EV sales in Europe are expected to continue to grow, especially with the “Fit for 55” policy setting stricter CO2 emission standards from 2030 to 2034. More people will consider turning to electrified transportation.[3] 

Traditional manufacturers are scrambling to boost production to meet rising demand, especially in Europe and China. Plans by manufacturers like Tesla, Volkswagen, Ford, and others to open new factories and invest over $345 billion globally by 2030 are expected to double total EV production capacity and greatly increase availability.[4]

Policy Support and Market Drive

Supported by government policies like emissions regulations and purchase incentives, global EV adoption is projected to grow rapidly, according to the IEA. 

The UK will end sales of fully internal combustion engine vehicles and vans by 2030, five years earlier than previously announced. Norway introduced the policy in 2023 that BEVs priced below 500,000 NOK are exempt from value-added tax (25%).

In Sweden, starting from April 1, 2021, the maximum bonus amount for purchasing electric or hydrogen vehicles will be changed from SEK 60,000 to SEK 70000. 

Moreover, the Italian government provides subsidies for private purchases of EVs, with a subsidy of 4,500 euros and an additional scrappage bonus of 3,000 euros for individuals with incomes below 30,000 euros. For individuals with incomes exceeding 30,000 euros, there is a subsidy of 3,000 euros and an additional scrappage bonus of 2,000 euros.[2]

Other countries have also introduced relevant policy incentives aimed at promoting global transportation transformation and carbon neutrality goals. 

Increase in Charging Infrastructure

Public fast chargers are being deployed more to help EVs facilitate long-distance travel. At the end of 2022, there were a total of 2.7 million public EV chargers worldwide, with over 900,000 installed in 2022, an increase of approximately 55% compared to the stock in 2021.

The total number of slow chargers in Europe in 2022 was 460,000, an increase of 50% compared to the previous year. Fast chargers are important facilities to solve the range anxiety of EV owners. In 2022, the global number of fast charging stations increased by 330,000. In Europe, the overall number of fast chargers exceeds 70,000, an increase of about 55% compared to 2021.[3]

Considering the increasing number of EVs, the future of electric car chargers’ number is also on the rise. Especially, countries have introduced subsidy policies related to EV chargers, and many families are also considering installing charging stations at home.

Charging Speed Becomes Faster

Technology advancements are accelerating the future of electric car charging speeds. The latest fast chargers can recharge a battery to 80% in 30 minutes.[5] This is speeding adoption as drivers experience negligible wait times compared to previous generations.

In addition, research has found that by reducing the reactions caused by high currents within battery cells and lowering the battery temperature during charging and discharging, it is possible to accelerate the charging speed while also ensuring the normal operation of the battery and maintaining a longer cycle life.[5]

This indicates that faster and safer charging technologies will be developed for the future of electric cars, and the range anxiety that limits the use of electric vehicles will no longer be a concern.

Innovation in Battery Technology

Many large enterprises, such as General Motors, are researching the chemistry of lithium batteries, aiming to improve battery energy density, fast charging capabilities, and service life. This is expected to increase range while reducing costs.

Currently, one of the most promising battery technology innovations that can completely change electric vehicles is solid-state batteries. For example, lithium-sulfur batteries are known for their high energy density and relatively low cost. This may become a practical solution for the future of electric cars.[6]

Longer Range

At present, battery technology has greatly improved compared to a few years ago, thus providing a longer range. In 2021, most new electric vehicles could travel over 250 miles (400 km) on a charge. This is up significantly from 2012, when one of the first mass-market EVs, the Nissan Leaf, could only go around 73 miles (117 km) between charges.[1] 

As battery technology capacity increases rapidly per year, the future of electric car charging ranges may be projected to surpass 600 miles in the near future.[7]

Popularization of Intelligent Charging

Intelligent charging technology refers to using advanced communication and control systems to optimize and manage the charging process of electric vehicles. This includes dynamically adjusting charging time and rate based on factors such as grid load, power prices, battery status, and user behavior.

Firstly, intelligent charging technology helps to balance the load on the power grid. Secondly, users can set charging periods, such as charging during low electricity prices, to save costs and improve convenience. From the perspective of users, it makes future charging more worry-free, thus promoting the popularization of this technology.

The Prospect of Bidirectional Charging Technology is Bright

Vehicle-to-grid (V2G) functionality enables energy to flow both into and out of EV batteries. This technology can help balance the supply and demand relationship of the power grid, especially during peak hours when electric vehicles can discharge into the grid, reducing the load pressure on the grid.

In addition, for electric vehicle users, V2G technology allows them to profit by utilizing the difference in peak and valley electricity prices, thereby reducing the cost of using electric vehicles.

For families, this is a great solution for dealing with the power of idle cars and has a very bright development prospect. 

EVB Charger Specializes in Innovative Charging Stations

In the face of the increasing sales of electric vehicles in various countries, efficient EV charging stations are essential.

As an industry leader established in 2011, EVB Charger has become synonymous with high-quality electric vehicle solutions. For home use, we provide portable EV chargers for convenient charging anywhere, as well as AC chargers compatible with standard wall outlets.

Our DC fast charging stations are engineered for public, workplace, and fleet charging scenarios. Models include floor- and wall-mounted units. Solutions have several key advantages:

  • Innovative designs optimized for performance, compatibility, and user experience
  • Robust quality and safety are backed by extensive product testing
  • Hassle-free installation services and responsive customer support
  • Compliance with leading UL, CE, and other global standards
  • Flexible renewable integration for reduced energy costs


Overall, the electric vehicle trends highlighted above provide insights into the future of electric cars and markets, including technological advancements, policy support, strategic government investments, etc. 

Understanding these predicted developments allows businesses and consumers to make well-informed choices. EVB Charger offers reliable products. To learn more about our diverse portfolio of EV charging stations, visit our official website.


[1] CONSIDER THESE FIVE ELECTRIC VEHICLE TRENDS. Available at: https://engineering.stthomas.edu/degree-stories/electric-vehicle-market-trends/ (Accessed: April 29th 2024)

[2] European Alternative Fuels Observatory. Available at: https://alternative-fuels-observatory.ec.europa.eu/transport-mode/road/european-union-eu27 (Accessed: April 29th 2024)

[3] Trends in electric light-duty vehicles. Available at: https://www.iea.org/reports/global-ev-outlook-2023/trends-in-electric-light-duty-vehicles#abstract (Accessed: April 29th 2024)

[4] Power play: Evaluating the U.S. position in the global electric vehicle transition. Available at: https://theicct.org/sites/default/files/publications/us-position-global-ev-jun2021.pdf (Accessed: April 29th 2024)

[5] Researchers achieve extremely fast charging speeds for commercial lithium-ion batteries. Available at: https://engineering.berkeley.edu/news/2023/07/researchers-achieve-extremely-fast-charging-speeds-for-commercial-lithium-ion-batteries/ (Accessed: April 29th 2024)

[6] Innovations in battery technology: Powering future of EVs. Available at: https://auto.economictimes.indiatimes.com/news/auto-technology/innovations-in-battery-technology-powering-future-of-evs/106866257 (Accessed: April 29th 2024)

[7] Future electric cars could go more than 600 miles on a single charge thanks to battery-boosting gel. Available at: https://www.livescience.com/technology/electric-vehicles/future-electric-cars-could-go-more-than-600-miles-on-a-single-charge-thanks-to-battery-boosting-gel (Accessed: April 29th 2024)

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