Forecast: Electric Vehicle Registrations in Italy

The actual electric vehicle (EV) registrations in Italy have shown exponential growth from 2014 to 2023, starting at 1.42 thousand units in 2014 and reaching 184.34 thousand units by 2023. The year-on-year growth for 2023 is 28.71%, with a CAGR of 80.03% over the last five years, highlighting a robust expansion rate. The forecast data from 2024 to 2028 predict continued growth, although at a slower average CAGR of 11.27%, leading to a projected 70.57% overall growth in the next five years.

Key historical growth trends show significant spikes in particular years, such as a 248.83% increase in 2020 and substantial jumps in 2018 and 2019 with 99.51% and 76.14% respectively. The growth rate has moderated in recent years, with a 40.86% increase in 2022 and 28.71% in 2023.

Future trends to watch for include advancements in EV technology, improved charging infrastructure, and stronger government policies favoring the shift to electric mobility. These factors are likely to influence the scalability and adoption of EVs in Italy substantially.