International Energy Agency Predicts Vehicles to Reach 1.7B by 2035

According to the International Energy Agency the world’s roads will have 1.7 billion vehicles in the next 23 years.

The IEA presented a 670-page report on world energy trends, in which it predicts that by 2035 the number of vehicles will increase from the current 870 million to 1.7 billion, due to growth in developing countries. China, which is now the world’s largest auto market, will see an impressive rise in auto sales. If in 2000 china had 4 cars per 1,000 people, in 2010 it had 40, and IEA predicts that by 2035 it will have 310.

Therefore China, which currently has 60 million vehicles on its roads, is expected to jump to more than 400 million by 2035. India, a fast growing market, which had 14 million cars in 2011, is expected to jump to around 160 million cars by 2035.

The report also said that over the past 10 years the number of paved lanes has increased 30% to 28 million miles and by 2035 the world will most likely add 10 million miles more, at the price of $20 trillion. Over the next 23 years EVs will account for only 4% of the number of vehicles sold, while hybrids will account for more than 20%.