Germany MLCC Market Trends

Statistics for the 2023 & 2024 Germany MLCC market trends, created by Mordor Intelligence™ Industry Reports. Germany MLCC trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of germany mlcc Industry

Electric light commercial vehicles are expected to have a positive impact on the market

  • Light commercial vehicles represent an important part of the commercial vehicle market in Germany. As of 2019, roughly 28.35 thousand light commercial vehicles were manufactured in the country.
  • The COVID-19 pandemic resulted in lockdowns and other restrictions that caused supply chain issues in the light commercial vehicle industry that had never been seen before. The pandemic caused unprecedented levels and types of mobility and travel limitations in the country. End-user industries that transport goods, such as infrastructure, transportation, and logistics, were completely shut down, posing new challenges for the manufacturing and freight industries.
  • Electric light commercial vehicles (eLCVs), the centerpiece of urban transport, are the next step in Germany’s endeavors to combat traffic-related emissions. eLCVs have struggled to build significant market demand so far. In 2018, less than 2% of all newly registered LCVs in Germany were all-electric vehicles. Diesel engines still dominate this market.
  • The government has prioritized the development of batteries, cars, charging stations, digital mobility apps, ICT, smart mobility, and energy services in order to speed up the adoption of electric vehicles in the next years. The demand for electric light commercial vehicles is anticipated to increase due to the growth of e-commerce and logistical activities.
Germany MLCC Market

Increased adoption of ADAS is propelling the demand for passenger vehicles

  • Germany is the second most populous country in Europe and has the largest economy in the region. The production of passenger vehicles witnessed a decline from 2019 to 2022. The production volume of 4.6 million units in 2019 decreased to 3.48 million units in 2022. The observed CAGR of approximately -7.06% over the four-year period mirrors the difficult market conditions and disruptions encountered by the European automotive industry.
  • During the pandemic-resultant lockdown, production was stopped at some sites, which happened when companies were already struggling to shift from diesel- and gasoline-powered cars toward "green" electric vehicles. This hit the car industry, the main driver of Germany's export-based economy.
  • One of the long-term targets of the German government is a fossil fuel exit and an increase in electric vehicles. German electric car sales increased annually until 2022. While the prices of the vehicles themselves and the rising cost of living in the country are undoubtedly contributing factors to these numbers, another is the still-developing infrastructure for charging electric cars. Discontinuation of subsidies for plug-in hybrids is also slowing the electric vehicles market.
  • With advancements in AI and IoT and ever-growing dependence, the demand for automobiles is no longer limited to electric vehicles. ADAS software will become the driving factor for the future of passenger vehicles, thereby increasing the demand for MLCCs. Several companies are entering joint ventures and partnerships to launch newer products to have an edge over their competitors. In January 2022, Bosch and Cariad, Volkswagen's subsidiary, formed a partnership to develop new technology for automated vehicles and advanced driver-aid systems.
Germany MLCC Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • Laws and attractive incentives by the German government are expected to increase the demand for ACs
  • Consumer interest in upgrading or purchasing new consoles is driving their demand
  • Replacement purchases and the government's eco-consciousness are driving the demand for refrigerators
  • The disruption of raw materials and electronics components shortages impacted the market’s growth
  • The growing emphasis on smartphones and the high cost of smart TVs are impeding television sales growth
  • Supportive government policies and significant public spending contribute to the growth of BEVs in Germany
  • Rising industrialization and the growing proliferation of automation propels the market
  • Economic uncertainties and a lack of impulse to buy are decreasing the demand for desktop PCs
  • The increasing focus of enterprises on laptops and strong internet penetration in the country are driving the demand for laptops
  • 5G services in the country are driving the demand of smartphones
  • The return of children to schools, employees to the workplace, and a decrease in consumer spending are hindering the market’s growth
  • Increasing popularity of electric vehicles to boost the market
  • Advancements in battery technology to propel PHEV production
  • Increasing usage of robots for multi-purpose household activities and increasing usage in the healthcare industry for maintaining hygienic conditions

Germany MLCC Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029