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 |
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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
