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

The number of hybrid electric-petrol passenger cars in Belgium has shown a robust growth trajectory since 2013, surpassing 410,000 units in 2023. The market experienced significant year-on-year increases, peaking with a 59.45% rise in 2021 and stabilizing at a 29.26% increase in 2023. Over the last five years, the compound annual growth rate (CAGR) stood at an impressive 38.33%, underscoring the rapid adoption of hybrid vehicles in recent years. As we look ahead to 2028, the market is expected to expand further, albeit at a slower pace, with a forecasted five-year CAGR of 11.39%.

Future trends to watch for include:

• Advancements in hybrid technology and battery efficiency, which could accelerate adoption rates.
• Government policies and incentives aimed at reducing carbon emissions, potentially boosting hybrid car sales.
• Consumer preferences shifting towards more sustainable transportation options.