Forecast: Number of Electric Passenger Cars in Germany

Germany's electric passenger car market has shown a robust upward trend from 2013 to 2023. Positioned at 1,395.5 thousand units in 2023, this market experienced remarkable growth, particularly noted in the 126.24% and 100.1% year-on-year increases in 2020 and 2021, respectively. The market's average annual growth rate (CAGR) over the past five years stood at 75.77%, reflecting strong momentum in the adoption of electric vehicles.

Entering the forecast phase, the number of electric passenger cars is expected to reach 3,278.2 thousand units by 2028. The projected average annual growth rate for the next five years is 13%, amounting to a cumulative growth rate of 84.2%. This indicates a more moderate yet steady expansion compared to the past exponential increases.

Future trends to watch for include:

• Technological advancements in battery life and charging infrastructure
• Government policies and incentives supporting electric vehicle adoption
• Market response to increasing environmental awareness and sustainability efforts