The rise of electric vehicles is changing two markets at once: electricity and oil. According to the IEA’s Global EV Outlook 2025, the global EV fleet consumed around 180 TWh of electricity in 2024, almost 60% more than the previous year.
That is more electricity than some entire countries use in a year, but it still represented only about 0.7% of global final electricity consumption. The figure shows how much room for growth remains.
780 TWh by 2030
Under the IEA Stated Policies Scenario, the EV stock more than triples by 2030 while electricity demand rises more than fourfold to around 780 TWh. Demand grows faster than vehicle numbers partly because electric trucks become more important and EV adoption expands in markets with higher annual driving distances.
That does not make road transport less efficient. The IEA expects road activity to rise much faster than total energy demand, reflecting the higher efficiency of electric drivetrains.
Oil already displaced
EVs displaced more than 1.3 million barrels per day of oil demand in 2024. By 2030, current trends analysed by the IEA could push displacement above 5 million barrels per day.
This is why electric mobility matters beyond the auto industry: it affects refining, fuel trade, power grids, batteries and mineral demand.
Grids need to prepare
EV demand is not evenly distributed across time. If millions of vehicles charge during the same hours, local grids can face stress even when annual electricity consumption remains manageable.
Smart charging and dynamic tariffs can shift part of the load toward hours with more available grid capacity or renewable generation. In time, some fleets may also provide grid services.
Efficiency and infrastructure
Electrification transfers part of transport energy demand from a fuel logistics network to the electricity system. That requires chargers, connections and planning, but it uses a more efficient energy conversion process.
The challenge is ensuring infrastructure does not become a bottleneck. Fast charging is important for long journeys, while home and workplace charging can often use lower power over longer periods.
A transformation across industries
The 180 TWh figure should not be read simply as additional electricity demand. It is evidence that a large transport segment is moving toward a different energy carrier.
The ultimate impact will depend on EV adoption, electricity sources, grid capacity and battery development. But the direction is already clear: a growing share of road mobility is becoming part of the electricity system.
