On average, only a fraction of the molecules in a liquid have enough heat energy to escape from the liquid. The evaporation will continue until an equilibrium is reached when the evaporation of the liquid is the equal to its condensation. In an enclosed environment, a liquid will evaporate until the surrounding air is saturated.
Evaporation is an essential part of the water cycle. The sun (solar energy) drives evaporation of water from oceans, lakes, moisture in the soil, and other sources of water. In hydrology, evaporation and transpiration (which involves evaporation within plant stomata) are collectively termed evapotranspiration. Evaporation of water occurs when the surface of the liquid is exposed, allowing molecules to escape and form water vapor; this vapor can then rise up and form clouds. With sufficient energy, the liquid will turn into vapor.
For molecules of a liquid to evaporate, they must be located near the surface, they have to be moving in the proper direction, and have sufficient kinetic energy to overcome liquid-phase intermolecular forces. When only a small proportion of the molecules meet these criteria, the rate of evaporation is low. Since the kinetic energy of a molecule is proportional to its temperature, evaporation proceeds more quickly at higher temperatures. As the faster-moving molecules escape, the remaining molecules have lower average kinetic energy, and the temperature of the liquid decreases. This phenomenon is also called evaporative cooling. This is why evaporating sweat cools the human body. Evaporation also tends to proceed more quickly with higher flow rates between the gaseous and liquid phase and in liquids with higher vapor pressure. For example, laundry on a clothes line will dry (by evaporation) more rapidly on a windy day than on a still day. Three key parts to evaporation are heat, atmospheric pressure (determines the percent humidity), and air movement.
On a molecular level, there is no strict boundary between the liquid state and the vapor state. Instead, there is a Knudsen layer, where the phase is undetermined. Because this layer is only a few molecules thick, at a macroscopic scale a clear phase transition interface cannot be seen.
Liquids that do not evaporate visibly at a given temperature in a given gas (e.g., cooking oil at room temperature) have molecules that do not tend to transfer energy to each other in a pattern sufficient to frequently give a molecule the heat energy necessary to turn into vapor. However, these liquids are evaporating. It is just that the process is much slower and thus significantly less visible.