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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Germany Automotive High Performance EVs Market Outlook
The Germany automotive high performance EVs market size reached nearly USD 8.39 billion in 2023. The market is projected to grow at a CAGR of 23.30% between 2024 and 2032 to reach a value of around USD 55.19 billion by 2032.
Key Trends in the Market
Automotive high performance EV refers to a type of vehicle which is propelled by electricity. This vehicle consists of an electric motor, a power converter, and an energy source, which is usually a battery.
- Automotive high performance EVs are cost-effective, boast high performance and reduced noise operation, and can enhance driving experiences. Hence, these vehicles are expected to witness a heightened sales in the country in the forecast period.
- Rising investments by leading electric vehicle manufacturers aimed towards developing production plants in Germany in order to localise the supply chain while promoting product launches are driving the Germany automotive high performance EVs market growth.
- High performance pure electric vehicles produce zero direct emissions, offering sustainability benefits. In this regard, the favourable government initiatives aimed towards reducing the greenhouse emissions are further encouraging the demand for automotive high performance EVs.
Market Analysis
Based on drive type, the Germany automotive high performance EVs market segmentations include plug-in hybrid and pure electric. On the basis of vehicle type, the market is classified into passenger cars and commercial vehicles.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the Germany automotive high performance EVs market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- BMW AG
- Volkswagen AG
- Porsche AG
- Ford Motor Company
- Mercedes-Benz Group AG
- Tesla Inc.
- Hyundai Motor Company
- Nissan Motor Co., Ltd.
- Bugatti Rimac Ltd.
- PSA Automobiles SA
- Others
Market Share by Drive Type
Pure electric vehicles account for a significant portion of the Germany automotive high performance EVs market share as they are eco-friendly. With the introduction of favourable initiatives by the German government to promote the usage of EVs and minimise greenhouse gas emissions, the demand for pure electric vehicles is rising. Moreover, the increasing awareness pertaining to the advantages of electric vehicles over traditional fuel-based vehicles is further heightening the demand for pure EVs.
Market Share by Vehicle Type
As per the Germany automotive high performance EVs market analysis, passenger cars are expected to witness a heightened demand in Germany, owing to the rising disposable incomes of the burgeoning class and the strong foothold of well-established car brands. The German government aims to increase the number of electric cars to 15 million by 2030. This, coupled with the increasing affordability of electric cars, is expected to aid the Germany automotive high performance EVs market growth in the forecast period.
Competitive Landscape
BMW AG is a leading automotive company that manufactures and sells luxury vehicles. With automotive production and assembly facilities present across the world, the company was founded in 1916 and is headquartered in Munich, Germany.
Volkswagen AG is a renowned automotive manufacturing company which is headquartered in Wolfsburg, Germany. The company is one of the largest manufacturers of passenger and commercial vehicles.
Porsche AG is a major automobile company which offers high-performance sports cars, SUVs, and sedans, among others. The company was founded in 1931 and is headquartered in Baden-Wurttemberg, Germany.
Other Germany automotive high performance EVs market players include Ford Motor Company, Mercedes-Benz Group AG, Tesla Inc., Hyundai Motor Company, Nissan Motor Co., Ltd., Bugatti Rimac Ltd., and PSA Automobiles SA, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Drive Type |
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| Breakup by Vehicle Type |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of nearly USD 8.39 billion in 2023.
The market is estimated to grow at a CAGR of 23.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 55.19 billion by 2032.
The increasing awareness pertaining to the advantages offered by automotive high performance EVs and increasing investments by leading automakers towards setting up EV manufacturing plants in Germany are the major drivers of the market.
The key trends in the market include favourable government initiatives aimed towards reducing greenhouse emissions and the rising disposable incomes of the middle-class population in the country.
Plug-in hybrid and pure electric, are the different drive types considered in the market report.
Passenger cars and commercial vehicles are the major vehicle types included in the market report.
BMW AG, Volkswagen AG, Porsche AG, Ford Motor Company, Mercedes-Benz Group AG, Telsa Inc., Hyundai Motor Company, Nissan Motor Co., Ltd., Bugatti Rimac Ltd., and PSA Automobiles SA, among others, are the key market players.
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