Market Insights Mobility Electric Vehicles

Battery Electric Vehicles - Switzerland

Switzerland

In 2024, the projected revenue in the Battery Electric Vehicles market in Switzerland is expected to reach €2.7bn.
This forecast indicates a steady growth rate, with an annual Compound Annual Growth Rate (CAGR) of 14.35% from 2024 to 2029.
Based on this projection, the market volume is estimated to reach €5.3bn by 2029.
Furthermore, it is anticipated that the unit sales of Battery Electric Vehicles market in Switzerland will reach 109.60k vehicles by 2029.
In terms of pricing, the volume weighted average price of Battery Electric Vehicles market in Switzerland is expected to be €48.6k in 2024.
When comparing international markets, it is noteworthy that China is projected to generate the highest revenue in the Battery Electric Vehicles market, with an estimated €193,400m in 2024.
Switzerland's Battery Electric Vehicle market is thriving, fueled by the country's strong commitment to sustainability and efficient infrastructure.

Key regions: United Kingdom, Japan, Netherlands, France, United States

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Analyst Opinion

The Battery Electric Vehicles market in Switzerland is experiencing significant growth and development.

Customer preferences: Swiss customers are increasingly opting for Battery Electric Vehicles due to their environmental benefits and cost savings. With growing concerns about climate change and air pollution, consumers are becoming more conscious of their carbon footprint and are actively seeking sustainable transportation options. Battery Electric Vehicles offer zero emissions and are seen as a greener alternative to traditional gasoline-powered vehicles. Additionally, the lower operating costs of Battery Electric Vehicles, including reduced fuel and maintenance expenses, are appealing to cost-conscious consumers.

Trends in the market: One of the key trends in the Battery Electric Vehicles market in Switzerland is the expanding range of available models. Major automakers are investing in the development of electric vehicles and introducing new models with improved battery range and performance. This wider selection of options is attracting more consumers to consider purchasing Battery Electric Vehicles. Another trend is the increasing availability of charging infrastructure. Switzerland has been investing in the expansion of its charging network, making it more convenient for Battery Electric Vehicle owners to charge their vehicles. The presence of a well-developed charging infrastructure is crucial for the widespread adoption of Battery Electric Vehicles, as it addresses the issue of range anxiety and provides reassurance to potential buyers.

Local special circumstances: Switzerland has a strong commitment to sustainability and environmental protection, which aligns with the benefits offered by Battery Electric Vehicles. The Swiss government has implemented various incentives and policies to promote the adoption of electric vehicles, such as tax exemptions, subsidies, and preferential parking for Battery Electric Vehicles. These measures have helped to create a favorable environment for the growth of the Battery Electric Vehicles market in Switzerland.

Underlying macroeconomic factors: The Swiss economy is characterized by high disposable income and a strong focus on quality and innovation. These factors contribute to the attractiveness of Battery Electric Vehicles, as they are often associated with cutting-edge technology and premium features. Furthermore, Switzerland has a well-developed public transportation system, which reduces the need for long-distance travel by car. This makes Battery Electric Vehicles a viable option for many Swiss consumers who primarily use their vehicles for shorter trips within urban areas. In conclusion, the Battery Electric Vehicles market in Switzerland is experiencing growth due to customer preferences for sustainable and cost-effective transportation options. The expanding range of models, increasing availability of charging infrastructure, and government incentives are driving the adoption of Battery Electric Vehicles. The underlying macroeconomic factors, including high disposable income and a focus on innovation, further contribute to the market's development.

Methodology

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).