Market Size of Germany Automotive High Performance Electric Vehicles Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 32.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Germany Automotive High-Performance Electric Vehicles Market Analysis
The German automotive high-performance electric vehicles market is anticipated to register a CAGR of about 32% during the forecast period.
The COVID-19 pandemic significantly slowed the supply chain, causing a drop in corporate confidence and increased consumer concern. The government imposed total lockdowns and temporary industry closures in several areas of Germany, harming the country's entire production and sale of cars. However, as a result of the economic impact of the COVID-19 pandemic, the government approved a financial recovery plan with a EUR 130 billion (USD 138.5 billion) budget in June 2020, including EUR 8 billion (USD 8.5 billion), to promote electric vehicle adoption and charging infrastructure deployment.
Over the long term, the growing awareness about vehicle emissions, lower operating and maintenance costs, and an increase in Government and environmental agencies' initiatives to encourage the use of electric vehicles is expected to drive the growth of the high-performance electric vehicles market in the region. Moreover, major players are focusing on developing high-performance electric vehicles in the country. For instance,
- August 2022: ZF Friedrichshafen AG (ZF) announced that its Commercial Vehicle Solutions (CVS) division had presented the most recent eMobility technologies in advance of the IAA Transportation 2022. The purely electric drive system combines cutting-edge control systems to redefine the dynamic, agile, and precise combination that distinguishes BMW M automobiles as high-performance sports cars.
Moreover, with the increasing number of electric vehicle sales in the country, there is an increase in the charging stations in the countries, which will also play an essential role in boosting the sale of High-Performance electric vehicles. There were about 59,400 publicly available charging stations for electric cars in Germany in 2021. Furthermore, technological advancement and new development in the high-performance electric vehicle market may also contribute to the growth of the market in Germany
Germany Automotive High-Performance Electric Vehicles Industry Segmentation
Automotive High-Performance Electric Vehicles differ from other electric vehicles in several ways, including a more extended range of distance (over 150 miles on a single charge), high acceleration, and the ability to reach speeds of over 90 miles per hour with a faster acceleration of 0 to 60 miles per hour.
The Germany automotive high-performance electric vehicles market is segmented by drive type (plug-in Hybrid, battery, and pure electric) and vehicle type (passenger cars and commercial vehicles). The report offers the market size in value (USD billion) and forecasts for all the above segments.
| By Drive Type | |
| Plug-in Hybrid | |
| Battery or Pure Electric |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
Germany Automotive High Performance Electric Vehicles Market Size Summary
The German automotive high-performance electric vehicles market is poised for significant growth, driven by increasing awareness of vehicle emissions, lower operating costs, and robust government and environmental initiatives. The market is experiencing a surge in interest and investment, with major players like BMW Group, Daimler AG, and Volkswagen AG focusing on developing advanced electric vehicles. The government's financial recovery plan, which includes substantial funding for electric vehicle adoption and charging infrastructure, has further bolstered this growth. The expansion of charging stations across the country is also a critical factor, supporting the rising sales of high-performance electric vehicles. Technological advancements and new developments in the sector are expected to contribute to the market's expansion, making Germany a key player in the European electric vehicle landscape.
The market is characterized by moderate consolidation and high competition, with companies actively launching new models and investing in research and development to enhance their offerings. The German government's commitment to reducing greenhouse gas emissions and achieving carbon neutrality by 2045 aligns with the market's growth trajectory. Despite the potential reduction in financial incentives due to the increasing popularity of electric vehicles, the market continues to thrive, supported by the growing availability of electric vehicles and the strategic efforts of German automakers. The market's trajectory is further reinforced by the country's ambitious targets for electric vehicle adoption, positioning Germany as a leading market and producer in the global electric vehicle industry.
Germany Automotive High Performance Electric Vehicles Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Drive Type
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2.1.1 Plug-in Hybrid
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2.1.2 Battery or Pure Electric
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2.2 By Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Commercial Vehicles
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Germany Automotive High Performance Electric Vehicles Market Size FAQs
What is the current Germany Automotive High Performance Electric Vehicles Market size?
The Germany Automotive High Performance Electric Vehicles Market is projected to register a CAGR of greater than 32% during the forecast period (2024-2029)
Who are the key players in Germany Automotive High Performance Electric Vehicles Market?
Ford Motor Company, Daimler AG, Volkswagen AG, BMW Group and Telsa Inc. are the major companies operating in the Germany Automotive High Performance Electric Vehicles Market.
