They are very good at their main purpose, which is to support tank formations in combat. However, PzGs should never be trusted with clearing a forest of armor, as their AT weapons have a long reload and fail at close quarters.
PzGren are one of the few shock infantry that is allowed to be used with an armored deck which generally lack good rifle sections to clear urban and forest environment in which they are very good at with armor support. They excel at working in conjunction with MBT. Their transport, the Marder, is fast, hard hitting and well armored(especially the Marder 2 with a 10 frontal armor). They are a great addition to an armored column.
The term Panzergrenadier originated in the Heer and SS during the Second World War, and was applied by the post-war West German military, the Bundeswehr, to the mechanized infantry units that make up the backbone of the army to this day. Armed with G3 rifles, Pzf44 or (post 1993) Pzf3 light anti-tank weapons, Milan guided-anti-tank weapons and MG3 Medium Machine Guns, the Panzergrenadier were a powerful force to be reckoned with.
They originally operated from M113 APCs but switched to the Marders as they came online.