Forecast: Plug-in Hybrid Electric Vehicle Registrations in Austria

Plug-in Hybrid Electric Vehicle (PHEV) registrations in Austria grew significantly from 1.1 thousand units in 2015 to 15.11 thousand units in 2023. From 2020 to 2023, the market observed a sharp rise, especially in 2020 with a year-on-year increase of 254.41%. Although there was a slight drop in 2022 by 9.28%, the market rebounded with a 13.85% increase in 2023. Over the past two years (2022-2023), the trend witnessed an average growth rate of 2.29%. The last five years showed an impressive CAGR of 62.7%, reflecting strong market momentum.

Future trends to watch for:

- Forecasts predict continued growth in PHEV registrations, reaching 23.95 thousand units by 2028.

- The forecasted 5-year CAGR is 7.21%, suggesting steady market expansion.

- Key drivers might include evolving regulatory frameworks, advancements in battery technology, and increasing consumer awareness about sustainable transport options.