United Kingdom Electric Vehicle Market: Industry Analysis and Forecast (2021-2027)

United Kingdom Electric Vehicle Market size was valued at USD 3.15 Bn. in 2020 and the total revenue is expected to grow at 14 % through 2021 to 2027, United Kingdom Electric Vehicle Market is reaching nearly USD 7.88 Bn. by 2027.

United Kingdom Electric Vehicle Market Overview:

By 2050, the United Kingdom has committed to achieving net-zero carbon emissions. Transport is currently the UK economy's most polluting sector, accounting for 27% of total greenhouse gas emissions. Cars account for more than half of the UK's transportation emissions (55 %). Electric cars are one way to reduce emissions. To meet the Net Zero goal, the Committee for Climate Change (CCC) proposed in May 2019 that all new vehicles be electric-powered by 2035. The shift to zero-emission cars and vans is being accelerated by the UK government. The Prime Minister said in November 2020, as part of the Government's ten-point strategy for a green industrial revolution, that all petrol and diesel cars would be phased out by 2030, and that all new cars and vans will be zero-emission by 2035. United Kingdom Electric Vehicle Market To know about the Research Methodology:- Request Free Sample Report 2020 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020, the effect of lockdown on the demand and supply, and the impact of lockdown for the next two years on the market. Some companies have also done well in lockdown, and a specific strategic analysis of those companies is done in the report.

United Kingdom Electric Vehicle Market Dynamics:

The Committee on Climate Change (CCC), the government's independent statutory advisor, estimates that over 280,000 charge points would be required by 2030, implying that over 30,000 charge points will be deployed per year. To put this in perspective, the UK had just over 20,000 charge points by the end of 2020. The total number of Rapid (50kW DC) charge outlets is expected to increase 22-fold between 2021 and 2027, compared to 2020. Fast (11-22kW AC) chargers will more than triple in quantity, whereas Slow (3-7kW) chargers will develop at a slower pace (seven-fold). Although ultra-rapid chargers are the fastest-growing segment, they are not likely to account for a significant portion of the market. The charging infrastructure in the United Kingdom is rapidly expanding, with new charge sites being introduced on a daily basis. According to the most recent charging station statistics, the UK has 28,227 electric vehicle chargers. There is 47,728 electric car charging ports on these products. Over the last year, a range of initiatives has been used to increase the use of electric vehicles. Along with the transportation decarburization strategy, the government released a 2035 delivery plan in July 2021, which describes the policies and investments being made to facilitate the transition to zero-emission cars and vans. Infrastructure and electric vehicles The 6th Commons Library Research Briefing will take place on December 20, 2021. As part of its Net Zero Strategy, the government confirmed its proposal to implement a ZEV requirement beginning in 2024 to help meet its 2030 and 2027 targets United Kingdom Electric Vehicle Market 1 When considering the entire life cycle of a vehicle and its subcomponents, as well as the particulate matter emitted on-street, EVs enhance local air quality and minimize point-of-use emissions; yet, they are not net-zero. The transition to electric vehicles will necessitate the production of more batteries. This creates opportunities, such as the possibility of developing battery manufacturing facilities in the UK, but it also creates obstacles. Rare elements like lithium and cobalt, which are used in EV batteries, have created environmental and ethical concerns in nations where they are mined. Inadequate charging infrastructure, particularly on-street, due to a lack of an overarching strategy and targets. There are already 18, 0004 public charging stations for around 400,000 plug-in electric vans and passenger automobiles. The CCC forecasts that 325,000 public charging points will be required to boost the UK's electric vehicle fleet to 23.2 million by 2032. While the UK government has set aims to quadruple quick charging by 20245 and provide access to 2,500 high-powered charging points along England's inter-urban routes6, no targets for on-street or at-home charging have been specified. Currently, 80% of EV owners charge their vehicles overnight at home whereas 34% of homes lack off-street parking and must charge on the street or elsewhere. United Kingdom Electric Vehicle Market 2 Transmission Network Operators (TNOs) and Distribution Network Operators (DNOs) in the UK are limited in order and dependability to support adequate EV charging infrastructure. Companies and Local Authorities seeking to install charging points for their fleets, employees, and customers at forecourts can face significant costs (some have been quoted millions of pounds to pay for the necessary reinforcement upgrades), which can be an impediment to moving forward with charging infrastructure. Furthermore, a corporation requesting capacity from DNOs is responsible entirely for the cost of reinforcement improvements, even if others may utilize the capacity later, which may discourage a company from being the first to request the upgrades.

Key Finding –

• At a 'rapid' 7kW charge point, a typical electric vehicle will take eight hours to charge from empty. • Many electric vehicles are compatible with 'fast' 50kW chargers, which can add 100 miles to a battery in just 35 minutes. • In the United Kingdom, there are 16395 public electric vehicle charging stations. 3500 of these are fast EV chargers. • Scotland has the most electric vehicle charging devices per 100,000 people (47), followed by England (36), Wales (29), and Northern Ireland (29). • There were 39.2 million licensed automobiles in the UK at the end of June 2021, but only about 300,000 were electric vehicles. • With 108,205 new electric vehicle registrations in 2020, it was the biggest year for new electric vehicle sales. • In 2021, electric cars will account for 10.6% of all new car registrations. Petrol is the most prevalent fuel, accounting for 46.8% of the market. • In 2021, the Tesla Model S has the best maximum electric range, with a range of up to 379 miles on a single charge. • With 365,000 sales in 2020, the Tesla Model 3 is the best-selling electric automobile in the globe. United Kingdom Electric Vehicle Market 3

United Kingdom Electric Vehicle Market Segment Analysis:

The United Kingdom Electric Vehicle Market is segmented into Type and Vehicle type. Based on Type, the market is sub-segmented into Battery Electric vehicles, Hybrid Electric vehicles, and Plug-in Hybrid Electric vehicles. The Battery Electric vehicle segment is expected to lead the market during the forecast period. Battery electric vehicles (BEVs) now account for about 20% of the new automobile market in 2020, with plug-in hybrid electric vehicles (PHEVs) accounting for another 10%. The rising adoption of electric vehicles – which has climbed by over 70% when mild hybrids are included – continues to contrast with a drop in overall vehicle registrations compared to pre-pandemic levels. In November, 115,706 new cars were registered, a 1.7 % rise in 2019. United Kingdom Electric Vehicle Market 4 The objective of the report is to present a comprehensive analysis of the United Kingdom Electric Vehicle Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the United Kingdom Electric Vehicle Market dynamics, structure by analyzing the market segments and projects the United Kingdom Electric Vehicle Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the United Kingdom Electric Vehicle Market make the report investor’s guide.

United Kingdom Electric Vehicle Market Scope: Inquire before buying

 United Kingdom Electric Vehicle Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: USD 3.15 Bn
Forecast Period 2021 to 2027 CAGR: 14 % Market Size in 2027: USD 7.88 Bn
Segments Covered: by Type • BEV • PHEV • HEV
by Vehicle Type • Two-wheeler • Passenger car • Commercial vehicle

United Kingdom Electric Vehicle Market Key Players

• BMW • Mercedes Benz • Bollore • Mistubishi • Nissan • Peugeot • Tesla • Volkswagen. • Alstom‎ • PSA Group‎ • Iveco Bus • De Dion-Bouton

Frequently Asked Questions:

1) What was the market size of the United Kingdom Electric Vehicle Market in 2020? Ans - United Kingdom Electric Vehicle Market was worth USD 3.15 Bn in 2020. 2) What is the market segment of the United Kingdom Electric Vehicle Market? Ans -The market segments are based on Type and Vehicle Type 3) What is the forecast period considered for United Kingdom Electric Vehicle Market? Ans -The forecast period for United Kingdom Electric Vehicle Market is 2021 to 2027. 4) What is the United Kingdom Electric Vehicle Market size in 2027? Ans – United Kingdom Electric Vehicle Market is estimated as worth USD 7.88 Bn. 5) Who are the top 5 Key players in UK EV Market? Ans –Eaton, BMW, Mercedes Benz, Eaton, AVL, and Tesla.
1. United Kingdom Electric Vehicle Market : Research Methodology 2. United Kingdom Electric Vehicle Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to United Kingdom Electric Vehicle Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. United Kingdom Electric Vehicle Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape 3.12. COVID-17.6 Impact 4. United Kingdom Electric Vehicle Market Segmentation 4.1. United Kingdom Electric Vehicle Market, by Type (2020-2027) • BEV • PHEV • HEV 4.2. United Kingdom Electric Vehicle Market, by Vehicle type (2020-2027) • Two-wheeler • Passenger car • Commercial vehicle 5. Company Profile: Key players 5.1. BMW 5.1.1. Overview 5.1.2. Financial Overview 5.1.3. Presence 5.1.4. Capacity Portfolio 5.1.5. Business Strategy 5.1.6. Recent Developments 5.2. Mercedes Benz 5.3. Bollinger 5.4. Bollore 5.5. Microlino 5.6. Mistubishi 5.7. Nissan 5.8. Peugeot 5.9. Tesla 5.10. ABB 5.11. Eaton 5.12. AVL 5.13. Alfen 5.14. Delphi Automotive 5.15. Volkswagen. 5.16. Alstom‎ 5.17. PSA Group‎ 5.18. Iveco Bus 5.19. Teilhol 5.20. De Dion-Bouton

About This Report

Report ID 64130
Category Automotive and Transportation
Published Date June 2020
Updated Date Dec 2021
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