The plug-in hybrid electric vehicle (PHEV) registrations in Finland grew significantly from 2015 to 2023, peaking at 20.14 thousand in 2021. After a decline of 19.71% in 2022, registrations rose by 4.63% to stand at 16.92 thousand in 2023. From 2018 to 2023, the compound annual growth rate (CAGR) was 29.77%, indicating robust market expansion.
Future trends to watch for include:
- Moderate growth: Forecasts predict a slower, yet steady, growth in PHEV registrations with a 5-year CAGR of 2.99%, leading to 20.43 thousand registrations by 2028.- Market shifts: Rising environmental awareness and policy support may further drive electric vehicle adoption.- Technological advancements: Improvements in battery technology and charging infrastructure will likely influence future market dynamics.
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