Switzerland holds a small share in the European electric car market; however, a lucrative growth will be witnessed during the forecast period. Switzerland electric car market is projected to grow at a CAGR of more than 21.0% during the forecast period, 2019-2025. In 2019, the country’s electric vehicle market showed exponential growth of 84% YoY as around 17,500 electric cars were registered in the country as compared to 9,500 in 2018. Increasing awareness regarding environment and carbon footprints, government subsidies on the electric car and tax rebates are some of the major motivating factors for the electric car market growth in the country. The government of Thurgau offers a subsidy of $4,100 on the purchase of an electric car whereas St. Gallen offers a subsidy of $5,125. Moreover, in Basel, a subsidy up to $10,250 can be availed by while purchasing a taxi in the city.
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Moreover, based on propulsion technology, the market is bifurcated into a battery-electric car and plug-in hybrid electric car. As per the European Automobile Manufacturers Association, the battery-electric vehicle has a major market share in the country and a growth of 157% YoY has been registered in the segment in 2019. However, a slight downfall of 1.7% YoY was registered in the plug-in electric car segment in 2019. By battery type, the market is further segmented into NiMH, Li-Ion, and others. Li-ion battery-electric cars market is expected to cover a major share in the near future. Some of the major companies contributing to the market include AB Volvo, Audi AG, BMW AG, BMW AG, Jaguar Land Rover Ltd., Mitsubishi Motors Corp., Nissan Motor Co., Renault Group, Tesla, Inc., Volkswagen AG, and others.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Switzerland Electric Car Market Report Segment
By Vehicle Type
- Hatchback
- Sedan
- SUV
By Propulsion Technology
- Battery Electric Cars
- Plug-in Hybrid Electric Car
By Battery Type
- NiMH
- Li-Ion
- Others
The Report Covers
- Comprehensive research methodology of Switzerland Electric Car Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting Switzerland Electric Car Market.
- Insights about market determinants that are stimulating Switzerland Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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