Forecast: Plug-in Hybrid Electric Vehicle Registrations in France

The plug-in hybrid electric vehicle (PHEV) registration market in France has shown considerable growth from 2015 to 2023, with notable year-on-year variations. In 2023, the market stood at 139.74 thousand registrations. There was substantial growth between 2015 and 2023, especially with a remarkable spike in 2020, resulting in a 301.2% increase from the previous year. However, the market experienced a decline of 10.25% in 2022, before rebounding with a 10.42% growth in 2023. Over the last five years, the compound annual growth rate (CAGR) has been impressive, at 65.58%, despite fluctuations.

Looking ahead to the forecasted period from 2024 to 2028, the market is expected to continue growing, albeit at a slower pace with a forecasted 5-year CAGR of 5.86%. The long-term growth is projected to reach 202.97 thousand registrations by 2028, indicating an overall growth of 32.97% from 2023 to 2028.

Future trends to watch for include advancements in battery technology, governmental incentives for electric vehicles, and consumer preference shifts towards sustainable transportation. Additionally, infrastructure developments, such as increased charging stations, could further influence market growth.