German Electric Vehicle Market: Industry Analysis and Forecast (2021-2027)

German Electric Vehicle Market size was valued at 194,163 thousand units in 2020 and the total revenue is expected to grow at 22 % through 2021 to 2027, German Electric Vehicle Market is reaching nearly 781,061.60 thousand units by 2027.

German Electric Vehicle Market Overview:

Germany is the world's third-largest automobile producer, trailing only China and Japan. Renewable Energy World has labeled Germany "the world's first renewable energy economy," with renewables exceeding coal for the first time in January 2019, accounting for slightly over 40% of the country's energy mix. It will also need to obtain an additional 54.7 GW of electricity from other sources after committing to retiring all 84 of its coal power units by 2038. 1.68 Bn invested for electric mobility development by German federal government. In 2019, the federal government will upgrade 28,000 high-emission automobiles. Germany has set high goals for increasing electric vehicle sales and increasing its charging infrastructure network to 1 million publicly accessible charging stations by 2027. The government plans to spend more than USD 3.37 billion on the charging infrastructure. By 2023, the infrastructure for vehicles and trucks will be in place. As part of the stimulus package in response to the financial crisis, the government has announced intentions to invest an additional $1 billion in response to the COVID-19 pandemic. Germany's manufacturing ability and commitment to electric vehicle ownership have resulted in a virtuous, and investable, adoption cycle. German Electric Vehicle Market To know about the Research Methodology :- Request Free Sample Report

German Electric Vehicle Market Dynamics:

To support the rising electric vehicle market in Germany, a significant increase in charging infrastructure is required - By 2027, an estimated 180,000 to 200,000 public chargers would be needed to service about 5.7 to 7.4 million electric vehicles in Germany, representing a market share of 35 % of passenger vehicle sales, and a total of 448,000 to 565,000 chargers by 2030. Chargers deployed in 2018 covered 12 % to 13 % of charging demands in 2025, and 4% to 5% of charging needs in 2030. Although governments and private sector will have to put in a lot more work to create this charging infrastructure, these predicted demands are around half of Germany's stated aim of 1 million public chargers by 2030. In the scenarios addressed in this analysis, this discrepancy is explained by fewer automobiles and a smaller number of charges per electric vehicle. As the markets grow, more vehicles can be supported per charger – According to MMR estimates, the number of electric vehicles per normal-speed charger will increase from nine in 2020 to fourteen in 2027. Germany Associated trends over time include an expected decrease in home charging availability as more electric vehicles are purchased by people without off-street overnight parking, increased use of public chargers, and faster charging speeds. With the advancement of electric vehicles and charging infrastructure, the commercial case for public charging strengthens over time. German Electric Vehicle MarketThe highest charge gap is found in affluent areas with higher uptake and metropolitan areas – The requirement for charging has increased the most in affluent neighborhoods, where most electric vehicles are either leased or sold. As electric automobiles go to the secondary market, the growing demand in less affluent areas will parallel that of rich areas. Reduced home charging availability in urban areas also contributes to an increase in demand. Despite the fact that most metropolitan areas have a wider charge gap than nonmetropolitan areas, the need for electrification in less affluent rural areas remains high, requiring equal access to electricity. The German government and automakers are working hard to make Germany Europe's largest market and producer. They are working together to ensure that electric vehicles are widely accepted across the country. The government and key German automobile companies inked an agreement in 2019 to encourage the mass manufacture of electric vehicles in the country. In addition, the agreement will raise consumer subsidies for electric cars, with buyers of cars costing less than 40,000 Euros receiving around 6,000 Euros, up from 4,000 Euros previously. German Electric Vehicle Market Segment Analysis: the German Electric Vehicle Market is segmented into Drive Type and Vehicle Type. German Electric Vehicle MarketBased on Drive Type, the market is sub-segmented into BEV, PHEV and Hybrid electric Vehicle. In December 2020, Germany, Europe's and the world's largest auto market, attained a plugin electric car share of 26.6 %. This is a dramatic increase from the 4.0 % share reported in December of this year. In 2020, Volkswagen dominated full battery electric sales in Germany, accounting for about 24% of the market, with Renault coming in second with 16%. Full battery electric cars (BEVs), which accounted for 14.0 % in December, were followed by plugin hybrid electric vehicles (PHEVs), which accounted for 12.6 %. The overall annual plugin share of little over 13.5 % for the full year 2020 was relatively even, at nearly 6.7 % BEV and almost 6.9 % PHEV. That's a significant increase from the overall share of 3.0 % in 2019. Market Characterization of Vehicles and Charging – In the past, the development of the electric passenger vehicle in Germany was relatively modest in terms of sales, but this has changed dramatically in recent years. The number of charging stations has steadily increased in conjunction with the growing number of electric vehicles. Approximately 150,000 electric vehicles were on German roads by the end of 2019. The electric vehicle uptake trends are analysed across metropolitan and less-urbanized nonmetropolitan areas using the European Union's Metropolitan Region definition. The objective of the report is to present a comprehensive analysis of the German Electric Vehicle Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the German Electric Vehicle Market dynamics, structure by analyzing the market segments and projects the German Electric Vehicle Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the German Electric Vehicle Market make the report investor’s guide.

German Electric Vehicle Market Scope: Inquiry Before Buying

 German Electric Vehicle Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: 194,163 thousand units
Forecast Period 2021 to 2027 CAGR: 22 % Market Size in 2027: 781,061.60 thousand units
Segments Covered: by Drive Type • PHEV • BEV • Hybrid
by Vehicle Type •  Passenger Vehicle • Commercial Vehicle

German Electric Vehicle Market Key Players

• Mercedes Benz • Bollinger • Bollore • Microlino • Mistubishi • Nissan • Peugeot • Smart • Tesla • ABB • Eaton • AVL • Alfen • Delphi Automotive • Volkswagen • Renault • BMW • Hyundai • Jaguar Frequently Asked Questions: 1) What was the market size of German Electric Vehicle Market in 2020? Ans - German Electric Vehicle Market was worth 194,163 thousand units. in 2020. 2) What is the market segment of the German Electric Vehicle Market? Ans -The market segments are based on Product type, distribution channel and end-user 3) What is the forecast period considered for German Electric Vehicle Market? Ans -The forecast period for German Electric Vehicle Market is 2021 to 2027. 4) What is the market size of German Electric Vehicle Market markets in 2027? Ans – German Electric Vehicle Market is estimated as worth 781,061.60 thousand units 5) Which are top 5 Electric Vehicle Manufacture in Germany? Ans -In 2020, Tesla, Eaton, BMW, Jaguar and Renault are key players.
1. German Electric Vehicle Market : Research Methodology 2. German Electric Vehicle Market : Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to German Electric Vehicle Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. German Electric Vehicle Market : Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. German Electric Vehicle Market Segmentation 4.1. German Electric Vehicle Market ,by Drive type (2020-2027) • BEV • PHEV • Hybrid 4.2. German Electric Vehicle Market , by Vehicle type (2020-2027) • Passenger vehicle • Commercial vehicle 6. Company Profile: Key players 6.1. BMW 6.1.1. Overview 6.1.2. Financial Overview 6.1.3. Presence 6.1.4. Capacity Portfolio 6.1.5. Business Strategy 6.1.6. Recent Developments 6.2. Bollinger 6.3. Bollore 6.4. Microlino 6.5. Mistubishi 6.6. Nissan 6.7. Peugeot 6.8. Smart 6.9. Tesla 6.10. ABB 6.11. Eaton 6.12. AVL 6.13. Alfen 6.14. Delphi Automotive 6.15. Volkswagen 6.16. Renault 6.17. BMW 6.18. Hyundai 6.19. Jaguar

About This Report

Report ID 64254
Category Automotive and Transportation
Published Date June 2020
Updated Date Dec 2021