SOURCE RESEARCH
New Vehicle Shipments
Market Data | 1Q 2026 | MD-AUTO-110
Get The ReportGlobal EV sales outlook, 2026 to 2035
- ABI Research forecasts global EV sales to grow at a Compound Annual Growth Rate (CAGR) of 14% between 2026 and 2035, increasing from 23.5 million units to more than 76 million units. Driven by an enormous population and a strong domestic EV OEM ecosystem, Asia-Pacific spearheads the market with a 64.5% sales volume share in 2026.
- EV adoption in the passenger vehicle space is under pressure, with subsidies reduced in the United States and net-zero mandates in the European Union (EU) delayed, with more emphasis given to synthetic fuels. Plug-in Electric Vehicle (PEV) penetration of new vehicles is expected to reach 24% by the end of 2026, not crossing the 50% penetration level globally until 2032.
- By 2035, our Automotive analysts expect Asia-Pacific’s share of EVs sold annually to drop to 48.5%. All other regions will experience a more accelerated growth rate. This is a reflection of increased ICE bans in other geographies and the Asia-Pacific market’s maturity to date.
- The market for plug-in hybrids is set to peak in 2031, with the market enjoying a minor resurgence as the BEV segment comes under pressure. However, in the longer term, subsidy policy and the Total Cost of Ownership (TCO) advantages of pure BEVs over both ICEs and Plug-in Hybrid Electric Vehicles (PHEVs) will result in consistent Year-over-Year (YoY) declines in the volume of PHEV shipping.
Our future new EV sales forecast is compiled according to:
- Expected economic growth
- Monetary policy/interest rates
- Subsidies/incentives
- Historical churn rates
For a full automobile sales outlook, download ABI Research's New Vehicle Shipments market data.
