Forecast: New Registrations of Hybrid Electric-Petrol Passenger Cars in Belgium

The registration of hybrid electric-petrol passenger cars in Belgium reached 30.51 thousand in 2023, showing an upward trend over the past decade. Between 2013 and 2023, registrations grew significantly, exhibiting a growth phase from 2016 to 2017, with a 49.49% increase, and steady growth from 2021 to 2023. However, there was a dip in 2020 at -11.92%, likely influenced by external factors such as the COVID-19 pandemic.

From 2022 to 2023, a year-on-year growth of 4.89% was observed. Forecasting future trends, the registrations are expected to continue growing at a 5-year CAGR of 3.43%, reaching 37.85 thousand by 2028, which indicates a relatively slower but stable increase over the next few years.

Future Trends to Watch For:

• Impact of governmental regulations and incentives for green vehicles.
• Technological advancements in hybrid and electric vehicle efficiency.
• Market's reception to new hybrid models from major car manufacturers.
• Competition from fully electric vehicles influencing hybrid car registrations.