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Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
 Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new research from Wood Mackenzie.
Both projections have been revised down 2% when compared to Wood Mackenzie's pre-coronavirus forecast, with the pandemic delaying total vehicle sales by two years.
Responses to the pandemic from China and Europe have strongly supported a green recovery, whereas the US response has not been as favourable to transport electrification.
“Despite EV stock growing to 35 times its current size, the transport emissions curve will flatten and not fall. The global CO2 emissions contribution of transport will increase by 1.3 megatons between now and 2040.
“Major automakers have set their sights on being climate neutral by 2050 and view battery electric vehicles (BEVs) as the strongest lever to achieving that target,” said Ram Chandrasekaran, Wood Mackenzie Principal Analyst.
Commercial EV adoption has fewer barriers than passenger EV adoption and will be driven by cost rather than emissions regulations.
One of the major drivers of increasing passenger car EV adoption is the strict regulatory targets mandated globally.
In their effort to meet the targets, automakers must manufacture an increasing number of EVs that are favoured by existing mechanisms for measuring emissions. The regulations for commercial vehicles, however, are more lenient.
Wood Mackenzie expects commercial EV adoption to see a step change when the total cost of ownership becomes favourable to EVs in the segment. Commercial EV sales are projected to top 5.5 million a year by 2040, with global stock hitting 40 million by the same year.
“Electric buses in China have represented the entirety of commercial EVs for the past few years. Buses will lead the electrification of the global commercial segment until 2026. Post-2026, light-duty trucks will take over the charge.
“Unlike retail customers, fleet owners are well versed in the capital and operational expenses of their vehicles. They also have well-defined operating routes, as well as overnight parking locations.
“Electrification of the US pick-up truck market is hotly contested with several new players including Rivian, Bollinger, Lordstown Motors and Nikola receiving significant funding and each having at least one product on sale in the next two years,” added Chandrasekaran.
A lack of EV charging infrastructure and the high price of electric cars have been widely cited as barriers to widespread EV adoption. However, Wood Mackenzie sees progress on both fronts.
“The projected price of battery packs keeps dropping. We expect the US$100/KWh threshold to be breached by 2024, one year earlier than our previous projections.
“Cumulative residential and public charging points are projected to grow to 32.5 million and 5.4 million outlets by 2030 and will have an investment value of US$2.7 billion and US$3.3 billion, respectively,” said Chandrasekaran.
Source: Wood Mackenzie
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
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- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
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- Bharathi Cement Corporation - India
- MS Steel International - UAE
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- Alfred C Toepfer International GmbH - Germany
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- Energy Link Ltd, New Zealand
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- PowerSource Philippines DevCo
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- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
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- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
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- Directorate General of MIneral and Coal - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
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- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
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- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
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- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sical Logistics Limited - India
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