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. 

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.

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.

Research Methodology

The market study of the German electric vehicle market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Germany Electric Vehicle Market Research and Analysis by Vehicle type 
2. Germany Electric Vehicle Market Research and Analysis by Propulsion Technology
3. Germany Electric Vehicle Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of the German electric vehicle market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the German electric vehicle market.
• Insights about market determinants which are stimulating the German electric vehicle market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.