The Switzerland Electric Car Market is anticipated to grow with a significant CAGR of 21% during the forecast period (2019-2025). Growing demand for zero-emission vehicles, stringent government regulations and rising charging infrastructure across the country are major factors that are expected to propel the Switzerland electric car market.
In 2018, just 2% of all passenger cars on Swiss roads were electric or hybrid vehicles and just 0.4% had a pure electrical propulsion system. However, from 2019 onwards the electric vehicle sales witnessed a spike as more than 5,000 electric vehicles have been sold in Switzerland, accounting for around 4% of all new registrations. In addition, for the first time ever, 2019 saw the electric car as the best-selling vehicle, namely the latest Tesla Model 3. In September 2020 the “plug-in vehicles” i.e. electric and hybrid cars, even surpassed the 10% mark for new vehicles according to Autoswiss.
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Further, the increasing number of charging stations and advent of new charging point operators is expected to further drive the Switzerland electric car market in near future. The Electric Vehicle Club Switzerland, a private group of electric vehicle users, has strongly promoted public charging facilities. According to its scheme, payment of an annual contribution allows EV users access to the 120 “park & charge” charging stations. However, lack of government contribution regarding development of charging infrastructure is expected to challenge the market growth.
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Market Coverage
- The market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- Vehicle Type, Propulsion Technology, Battery Type
- Region Covered- Switzerland
- Competitive Landscape- Honda Motor Co., Ltd., BMW AG, AB Volvo, Audi AG, Hyundai Motor Co.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
