March 23, 2026

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Global electric vehicle stock has expanded rapidly since the mid-2010s. It rose from a few million vehicles in 2014 to around 193 million units by 2030. Growth accelerates sharply after 2020, driven primarily by China. Europe and the United States follow at a distance.

  • China dominates global EV stock. Total EV stock in China increases from around 0.12 million in 2014 to approximately 36.1 million in 2024. It is projected to reach nearly 114 million by 2030. BEVs account for the majority of growth, rising from 25.1 million in 2024 to 70.2 million by 2030. PHEVs also expand rapidly, from 11.0 million to 43.6 million, indicating a dual-technology adoption path.
  • Europe shows strong but more balanced growth. Total EV stock rises from roughly 0.24 million in 2014 to about 14.7 million in 2024. It is expected to reach 42.5 million by 2030. BEVs remain dominant (9.3 million in 2024; 30.7 million by 2030). PHEVs grow more moderately (5.4 million in 2024; 11.8 million by 2030).
  • The United States lags China and Europe in absolute terms. EV stock increases from around 0.29 million in 2014 to approximately 6.4 million in 2024. It is projected to reach about 17.4 million by 2030. BEVs drive most of the expansion (4.8 million in 2024; 13.9 million by 2030), while PHEVs remain a secondary segment.
  • The rest of the world is scaling rapidly from a low base. EV stock grows from roughly 0.13 million in 2014 to about 4.4 million in 2024. It is projected to reach nearly 19.5 million by 2030. Growth is driven by both BEVs (14.2 million) and PHEVs (5.3 million).
See Also:

Electric Passenger Cars Sales 2014-2024

References:

“Global EV Data Explorer.”, International Energy Agency, July 2025, https://www.iea.org/data-and-statistics/data-tools/global-ev-data-explorer and Incorrys data