Key regions: China, United States, Norway, France, Germany
The Plug-in Hybrid Electric Vehicles market in Germany has been experiencing significant growth in recent years.
Customer preferences: One of the main factors driving the growth of the Plug-in Hybrid Electric Vehicles market in Germany is the increasing demand for more environmentally friendly transportation options. As awareness about climate change and the need to reduce greenhouse gas emissions grows, more consumers are looking for vehicles that are both fuel efficient and have lower carbon emissions. Plug-in Hybrid Electric Vehicles offer a solution to this demand, as they combine the benefits of both electric and traditional combustion engines.
Trends in the market: Another trend in the Plug-in Hybrid Electric Vehicles market in Germany is the increasing range of models available to consumers. In the past, there were limited options for consumers interested in purchasing a Plug-in Hybrid Electric Vehicle. However, as technology has advanced and more manufacturers have entered the market, the range of models available has expanded significantly. This has made Plug-in Hybrid Electric Vehicles more accessible to a wider range of consumers.
Local special circumstances: Germany has been at the forefront of the transition to electric vehicles, with the government implementing various policies and incentives to promote the adoption of electric vehicles. For example, there are tax incentives and subsidies available for consumers who purchase Plug-in Hybrid Electric Vehicles. Additionally, there is an extensive charging infrastructure in place, making it easier for consumers to charge their vehicles.
Underlying macroeconomic factors: The growth of the Plug-in Hybrid Electric Vehicles market in Germany can also be attributed to favorable macroeconomic factors. Germany has a strong economy and high levels of disposable income, which allows consumers to invest in more expensive vehicles such as Plug-in Hybrid Electric Vehicles. Additionally, the government's focus on reducing carbon emissions and promoting sustainable transportation options has created a supportive environment for the growth of the Plug-in Hybrid Electric Vehicles market. In conclusion, the Plug-in Hybrid Electric Vehicles market in Germany is experiencing significant growth due to increasing customer preferences for environmentally friendly transportation options, the availability of a wider range of models, favorable local special circumstances such as government incentives and charging infrastructure, and underlying macroeconomic factors such as a strong economy and high levels of disposable income.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
