Europe’s EV Sales Surge 29.4% in Q1 2026, Cutting Oil Dependence by 2 Million Barrels Annually

Europe's energy security received a major boost in March as electric vehicle registrations skyrocketed 51.3% year-on-year, with first-quarter sales across 15 key markets jumping 29.4% to nearly 560,000 units. The surge delivers a direct hit to fossil fuel dependence, eliminating approximately 2 million barrels of annual oil consumption according to industry groups E-Mobility Europe and New Automotive. 'March's electric car sales represent one of Europe's biggest recent gains in energy security at a time when oil dependence has become a real vulnerability,' stated Chris Heron, Secretary General of E-Mobility Europe.

Drivers dump petrol cars as Europe’s biggest EV markets accelerate

A separate New Automotive report added detail from Britain, Europe’s second-largest battery-electric market after Germany. It said British battery-electric registrations rose 12.8% in the quarter and made up 22.5% of all new car sales. Rising petrol prices were named there.

The IEA said global electricity demand grew 3% in 2025, slower than 4.4% in 2024, but still above the 2.8% average from 2014 to 2024. It also grew at more than twice the pace of total global energy demand, which was 1.3% in 2025.

IEA said:

“In 2025, emerging market and developing economies accounted for 80% of global electricity demand growth. China’s share of the increase in global demand was 58%, higher than in 2024, when it stood at 52%, but lower than the 62% average observed over the previous decade. China’s net electricity demand surpassed 9 500 TWh in 2025, up by 5.1%, but slower than the growth of 6.6% in 2023 and 7.0% in 2024.”

IEA says electric transport, buildings, and data centers are jacking up global power demand

Meanwhile, China’s industrial electricity demand slowed to 3.7% from 6.0% in 2023 and 5.1% in 2024 because of trade barriers, weaker domestic consumption, and economic strain.

In India, after four straight years of growth above 6%, electricity demand rose only 1.4% in 2025. The first four months had pointed to 5.8% growth, but an early monsoon brought cooler weather and heavier rain, cutting demand for air conditioning and water pumping.

India’s cooling degree days were about 10% lower than in 2024, while Southeast Asia saw demand rise about 3% in 2025, down from 8.6% in 2024 and below the 2010s decade’s 6% average, though the IEA expects growth there and in India to pick up again.

The Middle East recorded nearly 4% growth in 2025, slightly above 2024’s, and the United States posted 2% growth, which is below 2.8% in 2024 but more than triple its decade average, with buildings making up 80% of that rise, and data centers alone drove around half of the increase.

IEA said:

“A cold winter, with a nearly 10% increase in heating degree days, also supported power demand in 2025 by boosting space heating needs.”

In the EU, electricity demand rose 1% after 1.6% growth in 2024. Advanced economies made up 20% of global electricity demand growth in 2025, up from 17% in 2024 and above the roughly 5% average of the previous decade.

Globally, buildings made up nearly 45% of the annual increase, transport contributed over 10%, and data center use climbed about 17%, or roughly 70 TWh, out of a total global rise of around 800 TWh.

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