Europe's EV Registrations Surge 29.4% in Q1 2026 as Oil Prices Rise; Global Electricity Demand Grows 3%

Gate News message, April 20 — Battery-electric vehicle registrations across 15 European markets jumped 29.4% to nearly 560,000 units in the first quarter of 2026, driven by surging fuel costs that pushed consumers away from combustion engines, according to E-Mobility Europe and New Automotive. March alone saw over 240,000 registrations, up 51.3% year-on-year, with the two groups estimating the quarter's sales would reduce oil consumption by 2 million barrels annually.

Germany, France, Spain, Italy, and Poland each posted battery-electric growth exceeding 40% so far this year, while 21.2% of all new vehicles registered across the EU and European Free Trade Association in March were electric. Britain, Europe's second-largest EV market, recorded 12.8% growth in the quarter, with battery-electric vehicles accounting for 22.5% of new car sales. Chris Heron, secretary general of E-Mobility Europe, stated that "March's surge in electric car sales is one of Europe's biggest recent gains in energy security, in a month when oil dependence has become a real vulnerability."

Globally, electricity demand grew 3% in 2025, slower than 4.4% in 2024 but above the 2.8% average from 2014 to 2024, according to the International Energy Agency (IEA). Emerging markets and developing economies accounted for 80% of global electricity demand growth, with China alone contributing 58% of the global increase. China's net electricity demand surpassed 9,500 TWh, rising 5.1%, while India's electricity demand grew only 1.4% following four consecutive years of above-6% growth, as an early monsoon brought cooler weather and reduced air conditioning demand.

The United States posted 2% growth, with buildings accounting for 80% of the rise and data centers driving approximately half of the increase. The Middle East recorded nearly 4% growth, while the EU saw 1% growth after 1.6% in 2024. Globally, buildings made up 45% of annual electricity demand growth, transport contributed over 10%, and data center use climbed roughly 17%, or approximately 70 TWh, out of a total global rise of around 800 TWh. A cold winter with a nearly 10% increase in heating degree days also supported power demand in 2025.