O&G Strategies in Future Mobility

Globaldata’s O&G Strategies in Future Mobility report highlights sales of EVs, PHEVs, and FCEVs, sustainable mobility, and electric vehicle growth among others.

Within the different components of the energy transition, the replacement of internal combustion engine cars with Alternative Fuel Vehicles (AFVs) appears to be inevitable. It has been led by technological developments in the field of electric vehicles (EVs), and lighter lithium-ion batteries are now offering tolerances. With a single charge of several kilometers, the price of electric vehicles has become more competitive than traditional vehicles. Sales of electric vehicles and PHEVs are expected to reach 20 million units by 2030 and 27.5 1 million by 2035. This represents 19.6% and 24.6% of global sales, respectively. New vehicle. Manufacturing and charging electric vehicles is just a few steps ahead of the hydrogen fuel vehicle sector. The network of hydrogen filling stations is currently missing The number of infrastructure and gas stations The number of charging points for electric vehicles is 7.3 million (2019) and 470.

A vital understanding of O&G Strategies in Future Mobility in brief:

• Implications for Fuel Demand and O&G Companies:  O&G companies anticipate that the slower growth and eventual decline of fuel demand are in part related to the increase of AFVs. In the case of gasoline, in Europe and Asia, the decline is continuous from the year 2022, with an average annual rate to the year 2030 of -1.7% and -1.3% respectively

• Benefits of hydrogen fuel cell electric vehicles: Hydrogen fuel cell cars have a few advantages such as generally a faster charging time of about 3 minutes versus an average of 30 minutes for EVs. Cars powered by hydrogen require a much smaller battery, and hence are lighter. In heavy-duty transportation, where battery alone can weigh around 5-8 tons, hydrogen is much better positioned to compete with regular diesel trucks

• Measurements taken by leading countries:  Incentives for consumers to purchase electric vehicles exist across the world in most major countries and regions typically with either purchase subsidies, tax reductions, or a combination of the two.  In the USA, the Department of Energy can provide loan guarantees for eligible projects which reduce air pollution including alternative fuel vehicles

To understand the impacts of O&G Strategies on Future Mobility, download the report.