The electric vehicle transition and the future of electricity demand
Topic: Electricity demand from the road vehicle sector is set to accelerate sharply in the coming decades, according to our new in-house forecasting methodology. Our results indicate that the shift to electric vehicles – battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) in particular – will generate significant changes in the energy mix of the road sector. As the composition of the road vehicle stock shifts towards vehicles that draw power from the grid, the amount of electricity consumed by the sector will increase substantially while at the same time displacing oil demand.
Sean Metcalfe
Economist
Sean Metcalfe
Economist
Sean is a Lead Economist on the Industry team, where he forecasts the utilities sector, helps shape the team’s views on the Global Industrial outlook and oversees the climate-related enhancements being made to the Global Industry Model.
Prior to joining Oxford Economics, Sean spent two years working for RBB Economics as a competition economist. At RBB he was involved in the economic assessment of competition cases across a range of industries, including antitrust investigations in the telecommunications sector.
Sean holds an MSc in Economics from the London School of Economics and a BSc in Economics from the University of York.
Jeremy Leonard
Director of Global Industry Services
Jeremy Leonard
Director of Global Industry Services
Jeremy Leonard | Director of Global Industry Services
Jeremy Leonard is responsible for overseeing the work of the industry forecasting team and managing the operation and output of Oxford Economics’ 74-country, 100-sector Global Industry Model as well as related consultancy work.
Jeremy’s knowledge and past experience span a broad range, including competitiveness and offshoring/reshoring, commodity price modelling, and applied economic research on sectors ranging from biotech to heavy manufacturing to telecoms. In addition to numerous recurring bespoke sales and output forecasts for industries as diverse as machine tools and consumer packaging, recent consulting assignments have included the drivers of competitiveness in the chemical sector, forward-looking analyses of high-growth sectors across a range of emerging economies, and the ways in which digital technologies are transforming economic activity across manufacturing and service sectors.
Tags:
Related Services
Event
What 2025 and a second Trump presidency holds for Latin America
Growth dynamics next year will differ across Latin America's six largest economies – Argentina, Brazil, Chile, Colombia, Mexico, and Peru – but most economies will experience an acceleration in growth. However, this contrasts with a consumer outlook which is losing steam, and instead we see investment and trade as driving higher growth in 2025. This will come with support from US and domestic monetary policy easing, as inflation will broadly be at target. We will explore the stories affecting individual economies, such as the risk of judicial reform in Mexico to investment and the impact of President Milei’s radical reforms in Argentina. November will bring the US presidential election, and we will examine the impacts on Latin America of a new trade war under a second Trump presidency.
Find Out More
Event
Commodity outlook: How much further will prices fall?
Commodity prices have plunged in recent weeks, and investment banks are slashing their forecasts for next year. Demand has been weaker than investors anticipated, especially in China, albeit broadly in line with our own more bearish expectations. Strong supply from commodities such as wheat, copper, and crude oil has also weighed heavily on prices and contributed to inventory build. Gold has been an exception, with central banks driving its price higher and making it a bright spot for the complex. In this webinar, we explore the key themes facing commodity markets in 2025 and discuss the outlook for supply, demand, and prices.
Find Out More