Germany Electric Vehicle Market Industry Key Players, Trends, Sales, Supply, Demand, Analysis & Forecast to 2025

Germany's electric vehicle (EV) market is estimated to grow at a CAGR of more than 18.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases. The German Government intends to raise its electric vehicle production to 1 million units by the end of 2020.

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Top Key Players - Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Co., Renault Group, Tesla, Inc., Volkswagen AG, Audi AG, BMW AG, Hyundai Motor Co., Tata Motors Ltd. (Jaguar)

Since April 2016, the German government has made environmental funding of around $2,200 to buy a pure electric car, combined with the same amount by the manufacturer, which amounts to a total of around $4,400. This bonus is limited to the electric cars up to the amount of $66,370. In addition, electric cars are made exempt from vehicle tax for up to ten years to increase its purchase. Moreover, a special tax bonus is available in the country dependent on the size of the vehicle's battery. Hence, the growing environmental concerns along with tax benefits are anticipated to drive the market growth in the country. However, the high cost of EVs, lack of charging stations, and economic concerns are some of the major factors that may restrict the market growth of EVs during the forecast period.

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The market is segmented on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on battery type, the Li-ion battery is anticipated to witness considerable growth during the forecast period.

Market Segmentation

Electric Vehicle Market by Vehicle Type

o Commercial Vehicles
o Passenger Cars
o Two-Wheelers

Electric Vehicle Market by Propulsion Technology

o Battery Electric Vehicles
o Plug-in Hybrid Electric Vehicle

Electric Vehicle Market by Battery Type

o NiMH
o Li-Ion
o Others

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