Plug-in Hybrid Electric Vehicle (PHEV) registrations in Spain exhibit a strong growth trajectory. Actual figures begin in 2015 with 785 registrations and climb to 57.15 thousand in 2023. 2020 saw a remarkable surge with a 213.63% year-on-year increase, while the CAGR for 2018-2023 stands at 66.52%. Projecting into 2024-2028, forecasted PHEV registrations are expected to grow steadily, reaching 102.34 thousand by 2028, with a forecast 5-year CAGR of 9.05%.
Key variations year-on-year:
- 2022: 10.55% growth
- 2023: 19.59% growth
- 2020: 213.63% growth
- 2021: 85.45% growth
Looking forward, continued governmental incentives, advancements in battery technology, the expansion of charging infrastructure, and increasing environmental awareness will drive further adoption of PHEVs in Spain. Monitoring potential regulatory changes and market competition will be crucial for future trends.
Latest reports
US Electric Vehicle Market Report- Q4 2024
The fourth quarter of 2024 marked a significant period for the Electric Vehicle (EV) market in the United States, characterized by robust growth...
China Electric Vehicle Market Report- Q4 2024
In the fourth quarter of 2024, China's electric vehicle (EV) market continued to dominate the global landscape, capturing an unprecedented 76% of market...
Japan Electric Vehicle Market Report- Q4 2024
Japan's electric vehicle (EV) market experienced significant momentum in Q4 2024, driven by advancements in technology, strategic partnerships, and supportive government policies. The...
Germany Electric Vehicle Market Report- Q4 2024
The German electric vehicle (EV) market is experiencing significant transformations as it navigates various economic and regulatory challenges. Despite a slight economic downturn...
India Electric Vehicle Market Report- Q4 2024
In the fourth quarter of 2024, the electric vehicle market in India experienced dynamic growth, fueled by advancements in battery technology, increased consumer...
UK Electric Vehicle Market Report- Q4 2024
The fourth quarter of 2024 marked a pivotal period for the UK electric vehicle (EV) market, characterized by robust growth in battery electric...
France Electric Vehicle Market Report- Q4 2024
The fourth quarter of 2024 witnessed significant developments in the Electric Vehicle (EV) market in France, characterized by dynamic changes driven by consumer...
Canada Electric Vehicle Market Report- Q4 2024
The electric vehicle (EV) market in Canada continues to experience significant growth in Q4 2024, driven by advancements in technology, strategic government incentives,...
Brazil Electric Vehicle Market Report- Q4 2024
The electric vehicle (EV) market in Brazil during the fourth quarter of 2024 experienced notable growth across various segments, driven by increased urban...
Italy Electric Vehicle Market Report- Q4 2024
The electric vehicle (EV) market in Italy during the fourth quarter of 2024 is characterized by a mix of challenges and opportunities, primarily...
