Forecast: Number Of Electric Passenger Cars (Battery Only) in Belgium

The number of electric passenger cars (battery only) in Belgium has demonstrated significant growth from 2013 to 2023, increasing from 919 to 12,370 units. This growth was marked by periods of rapid expansion, particularly between 2013 and 2017, with notable increases such as 94.99% and 95.79% year-on-year. However, growth stabilized significantly after 2017, with year-on-year variations decreasing and even a slight decline of -3.38% in 2022. Despite this, there was a 5.79% increase in 2023.

Looking forward, the outlook for 2024 to 2028 suggests a more moderate but steady growth. The forecasted Compound Annual Growth Rate (CAGR) over the next five years is 3.54%, with an overall 19.02% growth rate by 2028.

Future trends to watch for include:

• Advancements in battery technology and manufacturing that could further reduce costs and improve vehicle performance.
• Government policy changes and incentives that could expedite the adoption of electric vehicles.
• Increasing consumer awareness and demand for environmentally-friendly vehicles.
• Expansion of the electric vehicle charging infrastructure.