Key regions: China, United States, Norway, France, Germany
The Plug-in Hybrid Electric Vehicles market in Jordan has been experiencing significant growth in recent years.
Customer preferences: Customers in Jordan are increasingly drawn to Plug-in Hybrid Electric Vehicles due to their environmental benefits and cost savings. Plug-in Hybrid Electric Vehicles offer lower emissions compared to traditional gasoline-powered vehicles, which aligns with the growing global concern for reducing carbon footprints. Additionally, the rising fuel prices in Jordan make Plug-in Hybrid Electric Vehicles an attractive option for cost-conscious consumers. The ability to switch between electric and gasoline power also provides convenience and flexibility for customers.
Trends in the market: One of the key trends in the Plug-in Hybrid Electric Vehicles market in Jordan is the increasing availability of charging infrastructure. As more charging stations are installed across the country, customers are more inclined to consider Plug-in Hybrid Electric Vehicles as a viable option. The government of Jordan has also been actively promoting the adoption of electric vehicles through various incentives and subsidies, further driving the growth of the market. These initiatives include tax exemptions, reduced registration fees, and financial incentives for purchasing Plug-in Hybrid Electric Vehicles.
Local special circumstances: Jordan faces unique challenges when it comes to transportation. The country heavily relies on imported oil, making it vulnerable to fluctuations in global oil prices. The government recognizes the need to reduce this dependency and has been actively encouraging the adoption of alternative energy sources, including Plug-in Hybrid Electric Vehicles. Additionally, Jordan has a relatively small land area, which makes it easier to establish a robust charging infrastructure network across the country.
Underlying macroeconomic factors: The Plug-in Hybrid Electric Vehicles market in Jordan is also influenced by macroeconomic factors. The country has been experiencing economic growth, leading to an increase in disposable income for consumers. This has made Plug-in Hybrid Electric Vehicles more affordable and accessible to a wider range of customers. Furthermore, the government's commitment to sustainable development and reducing greenhouse gas emissions aligns with the global trend towards cleaner transportation options. In conclusion, the Plug-in Hybrid Electric Vehicles market in Jordan is growing due to customer preferences for environmentally friendly and cost-effective transportation options. The increasing availability of charging infrastructure, government incentives, and the country's unique circumstances contribute to the growth of the market. With the government's continued support and favorable macroeconomic conditions, the Plug-in Hybrid Electric Vehicles market in Jordan is expected to continue its upward trajectory.
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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