Electric Vehicles - Czechia | Statista Market Forecast

In 2024, the revenue in the Electric Vehicles market in Czechia is projected to reach US$579.6m.
It is expected that the revenue will show an annual growth rate of 18.29% from 2024 to 2029, resulting in a projected market volume of US$1.3bn by 2029.
By 2029, it is estimated that the unit sales of Electric Vehicles market will reach 18.05k vehicles.
The volume weighted average price of Electric Vehicles market in Czechia in 2024 is expected to be US$73.2k.
From an international perspective, it is shown that China will generate the highest revenue in the Electric Vehicles market, with US$376bn in 2024.
Czechia is experiencing a surge in the adoption of electric vehicles, with a growing number of charging stations and government incentives supporting the market.

CO2 emissions exert a profound influence on climate and the environment, fueling the greenhouse effect and contributing significantly to global climate change. Nearly one-fourth of these emissions worldwide can be attributed to the transportation sector. Electric vehicles (EVs) emerge as a promising solution, potentially acting as a carbon-neutral alternative when powered by renewable energy sources. This underscores their pivotal role in mitigating the impact of traditional combustion engine vehicles on the environment.

The Electric Vehicles market includes information about electric vehicles in countries where, according to our sources, a public electric vehicle charging infrastructure is already available. In this context, “public” means that people have unrestricted access to the charging infrastructure. A vehicle can be defined as electric if it is self-contained with a battery or classified as a plug-in hybrid. All key figures shown represent the sales of new cars, and their basic configuration in the respective year. The figures do not include the sale of used vehicles nor adapted equipment for the new cars sold. The prices and revenues shown are accordingly based on the basic models.

The Electric Vehicle market is divided into distinct two distinct markets, namely Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). This categorization allows for a nuanced understanding of the market dynamics, considering the specific attributes and market penetration of each electric vehicle type. The emphasis on new car sales and their foundational configurations ensures clarity, while the exclusion of used vehicles and customizations maintains focus on the evolving landscape of electric vehicles.

Battery electric vehicles (BEVs)
Plug-in hybrid electric vehicles (PHEVs)
Road electric vehicles
Passenger Cars

Electric vehicles that are not self-contained and cannot be classified as BEVs or PHEVs
Rail electric vehicles
Surface and underwater vessels
Electric aircraft or spacecraft
Motorcycles, scooters, mopeds, buses, vans, and trucks

The Electric Vehicles market in Czechia has been experiencing significant growth in recent years, driven by changing customer preferences, favorable market trends, and local special circumstances.

Customer preferences: Customers in Czechia are increasingly gravitating towards electric vehicles due to their environmental benefits and cost savings in the long run. As awareness about climate change and pollution increases, more consumers are opting for greener transportation options. Additionally, the rising fuel prices and the availability of government incentives for electric vehicle purchases have further fueled the demand for electric vehicles in the country.

Trends in the market: One of the key trends in the Electric Vehicles market in Czechia is the expanding charging infrastructure. As the number of electric vehicles on the roads increases, there is a growing need for a robust charging network. To meet this demand, both public and private entities have been investing in the development of charging stations across the country. This trend has not only encouraged existing electric vehicle owners but has also alleviated range anxiety among potential buyers, making electric vehicles a more viable option. Another trend in the market is the increasing availability and variety of electric vehicle models. Automakers are recognizing the growing demand for electric vehicles in Czechia and are introducing a wider range of models to cater to different customer preferences. This has not only increased the options available to consumers but has also resulted in more competitive pricing, making electric vehicles more affordable for a larger segment of the population.

Local special circumstances: Czechia has a well-developed automotive industry, with several major automakers having manufacturing facilities in the country. This has provided a conducive environment for the growth of the Electric Vehicles market, as local expertise and infrastructure can be leveraged for the production and assembly of electric vehicles. The presence of these manufacturing facilities has also contributed to the availability of skilled labor and technological advancements in the sector.

Underlying macroeconomic factors: The Czech economy has been performing well in recent years, with steady GDP growth and low unemployment rates. This has positively impacted consumer confidence and disposable income, making electric vehicles more affordable for a larger segment of the population. Additionally, the government has implemented various incentives and subsidies to promote the adoption of electric vehicles, further stimulating the market. In conclusion, the Electric Vehicles market in Czechia is experiencing significant growth due to changing customer preferences, favorable market trends, and local special circumstances. The increasing awareness about environmental issues, coupled with the availability of government incentives, has driven the demand for electric vehicles. The expanding charging infrastructure and the growing variety of electric vehicle models have further contributed to the market's growth. The well-developed automotive industry in Czechia and the strong macroeconomic factors have also played a crucial role in the development of the Electric Vehicles market.

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).

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For the first time in the past decade, lithium-ion battery pack costs increased in 2022 due to the raw material and battery component soaring price inflation. However, this increase in production cost has not slowed down the global electric vehicle (EV)market. Electric vehicle sales have increased tremendously over the past decade.