Key regions: China, France, Germany, United States, United Kingdom
The Battery Electric Vehicles market in Jordan is experiencing significant growth and development.
Customer preferences: Customers in Jordan are increasingly showing a preference for Battery Electric Vehicles (BEVs) due to their environmental benefits and cost savings. BEVs produce zero emissions, which aligns with the growing global concern for reducing carbon footprint and combating climate change. In addition, the lower operating costs of BEVs, including reduced fuel and maintenance expenses, make them an attractive option for consumers in Jordan.
Trends in the market: One of the key trends in the BEV market in Jordan is the increasing availability and variety of electric vehicle models. Major automakers are expanding their electric vehicle offerings, providing consumers with more options to choose from. This trend is driven by the global shift towards electric mobility and the growing demand for BEVs. As more models become available in the market, it is expected that the adoption of BEVs will continue to increase in Jordan. Another trend in the market is the development of charging infrastructure. To support the growing number of BEVs on the road, the government and private companies in Jordan are investing in the installation of charging stations across the country. This infrastructure development is crucial for the widespread adoption of BEVs, as it addresses the concern of range anxiety and provides convenience to BEV owners.
Local special circumstances: Jordan has a unique set of circumstances that contribute to the development of the BEV market. The country has a high dependence on imported fossil fuels, which has led to a desire to diversify its energy sources. The government of Jordan has implemented policies and incentives to promote the adoption of renewable energy, including the use of electric vehicles. This has created a favorable environment for the growth of the BEV market.
Underlying macroeconomic factors: The development of the BEV market in Jordan is also influenced by underlying macroeconomic factors. The government has set ambitious targets for renewable energy generation, and the adoption of electric vehicles is seen as a part of this broader renewable energy strategy. Additionally, the global trend towards electric mobility and the increasing availability of BEVs in the international market have also contributed to the growth of the BEV market in Jordan. In conclusion, the Battery Electric Vehicles market in Jordan is experiencing growth and development due to customer preferences for environmentally friendly and cost-effective transportation options. The increasing availability of electric vehicle models and the development of charging infrastructure are key trends in the market. The local special circumstances, such as the country's dependence on imported fossil fuels and the government's renewable energy strategy, further support the growth of the BEV market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).
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