Germany electric car market is projected to augment at a CAGR of more than 23.0% during the forecast period, 2019-2025. In 2010, the government of Germany had set a target to introduce 1 million EVs in the country, however, as of now the target is shifted to 2022. The high purchasing power, government incentive, and presence of major market players are among the major factors for the growth of the electric car market in the country. Exponential growth in the electric car market has been registered in 2019 in the country. As per the European Automobile Manufacturers Association, a growth of 60% YoY is registered in the country in 2019. Around 109,000 electric vehicles were registered in the country as compared to 67,600 in 2019.
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The market is analyzed on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is further segmented into hatchback, sedan, and SUV. In 2019, sedan had the largest market share in Germany. Based on propulsion technology, the market is bifurcated into battery electric car and plug-in-hybrid electric car. Battery electric car is expected to have significant growth during the forecast period. As per the European Automobile Manufacturers Association in 2019, around 63,500 battery electric vehicle was sold in Germany, with a growth of 75% YoY whereas around 45,000 plug-in-hybrid vehicles were sold with a growth of 44% YoY. By battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion batteries vehicle is expected to cover a major market share in the near future.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Germany Electric Car Market by Vehicle Type
- Sedan
- Hatchback
- SUV
Germany Electric Car Market by Propulsion Technology
- Battery
- Plug-in Hybrid
Germany Electric Car Market by Battery Type
- NiMH
- Li-Ion
- Others
Company Profiles
- BMW AG
- Daimler AG
- General Motors Co.
- Group PSA
- Hyundai Motor Co.
- Jaguar Land Rover Ltd.
- Kia Motors Corp.
- Nissan Motor Co.
- Renault Group
- Tesla, Inc.
- Volkswagen AG
The Report Covers
- Comprehensive research methodology of Germany Electric Car Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting Germany Electric Car Market.
- Insights about market determinants which are stimulating Germany Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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