Market Insights Mobility Electric Vehicles

Plug-in Hybrid Electric Vehicles - Switzerland

Switzerland

In 2024, revenue in the Plug-in Hybrid Electric Vehicles market in Switzerland is projected to reach €1.1bn.
The revenue is expected to grow annually at a rate of 17.94% (CAGR 2024-2029), resulting in a projected market volume of €2.5bn by 2029.
By 2029, unit sales in the Plug-in Hybrid Electric Vehicles market in Switzerland are expected to reach 58.63k vehicles.
The volume weighted average price of Plug-in Hybrid Electric Vehicles market in Switzerland is expected to be €43.2k in 2024.
From an international perspective, it is shown that the highest revenue will be generated China, amounting to €152,000m in 2024.
Switzerland is experiencing a surge in demand for Plug-in Hybrid Electric Vehicles due to its strong commitment towards environmental sustainability.

Key regions: China, Norway, United Kingdom, Netherlands, France

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Analyst Opinion

The Plug-in Hybrid Electric Vehicles market in Switzerland has been experiencing significant growth in recent years.

Customer preferences: Swiss customers have shown a strong preference for Plug-in Hybrid Electric Vehicles due to their environmental friendliness and cost-saving benefits. The Swiss population has a high awareness of climate change and a strong commitment to reducing their carbon footprint. Plug-in Hybrid Electric Vehicles offer a greener alternative to traditional gasoline-powered vehicles, as they produce fewer emissions and can be charged using renewable energy sources. Additionally, the cost of electricity in Switzerland is relatively low compared to gasoline prices, making Plug-in Hybrid Electric Vehicles an attractive option for cost-conscious consumers.

Trends in the market: One of the key trends in the Plug-in Hybrid Electric Vehicles market in Switzerland is the increasing availability of charging infrastructure. The Swiss government has been actively investing in the development of charging stations across the country, making it easier for consumers to charge their vehicles. This has alleviated concerns about the limited range of Plug-in Hybrid Electric Vehicles and has contributed to the growing adoption of these vehicles. Another trend in the market is the introduction of new models by automakers. Many major automakers have been expanding their Plug-in Hybrid Electric Vehicles offerings in Switzerland, providing consumers with a wider range of options to choose from. This increased competition has led to more affordable pricing and improved features, further driving the demand for Plug-in Hybrid Electric Vehicles.

Local special circumstances: Switzerland's unique geography and topography present certain challenges for the adoption of electric vehicles. The country is known for its mountainous terrain, which can make it difficult for electric vehicles to navigate long distances without frequent charging. However, the introduction of Plug-in Hybrid Electric Vehicles has addressed this issue, as they offer a combination of electric and gasoline power, allowing for longer trips without the need for frequent charging.

Underlying macroeconomic factors: Switzerland has a strong economy and a high standard of living, which has contributed to the growth of the Plug-in Hybrid Electric Vehicles market. The country has a well-developed infrastructure and a high level of disposable income, making it easier for consumers to afford and maintain Plug-in Hybrid Electric Vehicles. Additionally, the Swiss government provides incentives and subsidies for the purchase of electric vehicles, further encouraging their adoption. In conclusion, the Plug-in Hybrid Electric Vehicles market in Switzerland is experiencing significant growth due to customer preferences for environmentally friendly and cost-saving vehicles, the availability of charging infrastructure, the introduction of new models by automakers, the unique topography of the country, and the underlying macroeconomic factors such as a strong economy and government incentives.

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).