Forecast: Number of Hybrid Electric-Petrol Passenger Cars in Austria

The number of hybrid electric-petrol passenger cars in Austria has exhibited strong growth from 2013 to 2023, standing at 135.44 thousand units as of 2023. The year-on-year variation indicates a consistent upward trend in the adoption of hybrid vehicles. From 2018 to 2023, the compound annual growth rate (CAGR) was notably high, peaking at 37.67% in 2021 and stabilizing at 36.46% in 2023.

In recent years, there has been a substantial increase year-on-year, with the 2020–2021 period showing a significant 50.07% rise, followed by a 33.78% increase from 2021 to 2022. The growth moderated to 23.85% in the last recorded year 2023. This trend reflects an accelerated adoption of hybrid vehicles, partially driven by increasing environmental awareness and supportive government policies.

Looking ahead, the forecasted CAGR from 2024 to 2028 is expected to average 10.2%, indicating a more moderate but steady growth phase. The total number of hybrid vehicles is expected to grow by 62.5% over this period, reaching 262.08 thousand units by 2028.

Future trends to watch for include advancements in battery technology, increased consumer demand for sustainable transport, and the impact of regulatory policies promoting green mobility. Additionally, the competitive landscape with emerging technologies in fully electric and even hydrogen-fueled vehicles may influence the hybrid market dynamics.