United Kingdom electric vehicle market stood
at $ 2.4 billion in 2018 and is projected to grow at a robust CAGR of more than
14% to reach $ 5.4 billion by 2024. Anticipated growth in the market can be
attributed to increasing affordability of electric vehicles offered by the leading
automobile manufacturers and rising need for automobiles running on cleaner
fuel due to surging pollution levels. Moreover, demand for electric vehicles is
further anticipated to increase in United Kingdom on the back of huge
investments by various OEMs for developing more affordable and premium electric
vehicles in the coming years. Additionally, government is focusing on boosting adoption
of electric vehicles by providing subsidies and incentives on these vehicles,
which would aid the growth of the market during the forecast period.
Years
considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To assess
the demand scenario for electric vehicle market.
- To analyze and forecast the market size
of United Kingdom electric vehicle market.
- To classify and forecast United Kingdom electric vehicle market
on the basis vehicle type, drivetrain technology type, charging infrastructure
and region.
- To identify drivers and challenges for United Kingdom electric vehicle market.
- To identify market trends and
development in the United
Kingdom electric vehicle market.
- To
identify and analyze the profiles of leading players in United Kingdom electric
vehicle market.
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Few of the leading players operating in the United Kingdom electric vehicle market include BMW UK Ltd, Nissan Motor Manufacturing (UK)
Ltd, Volkswagen Group UK Ltd, Renault UK Ltd, FORD UK, Mercedes-Benz Cars UK Ltd, Audi UK Ltd.,
Tesla Inc., Hyundai Motor Company and Jaguar Land Rover Ltd.
In order to perform the study, TechSci
Research conducted primary as well as exhaustive secondary research. Initially,
TechSci Research prepared an exhaustive list of electric vehicle manufacturers operating
in the market. Subsequently, TechSci Research conducted primary research
surveys, which include primary calls, email responses, etc., with the
identified companies. While interviewing, the respondents were also asked about
their major competitors. Through this technique,
TechSci Research was able to include system manufacturers which could not be
identified due to the limitations of secondary research. TechSci Research analyzed
service offerings, regional network, and regional presence of all major companies
across the country.
TechSci Research calculated the market size for United
Kingdom electric vehicle market using a bottom-up technique, wherein the value
service data for different vehicle type (Passenger Car & Commercial Vehicle)
was recorded as well as forecast for the future
years. TechSci Research sourced these
values from industry experts and company representatives, and externally
validated through analyzing historical data of respective companies to arrive
at the overall market size. Multiple secondary sources such as directories,
databases such as EAFO, OICA, World Bank, company websites, company annual
reports, white papers, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- United Kingdom electric vehicle manufacturers,
distributors and other stakeholders
- Associations, organizations, forums and alliances related to electric
vehicles
- Government bodies such as
regulating authorities and policy makers
- Market research and consulting
firms
The study is useful in providing answers to several
critical questions that are important for industry stakeholders such as electric passenger car manufacturers, distributors,
policy makers and other stakeholders. The study would also help them to target
the growing segments over the coming years, thereby aiding the stakeholders in taking
investment decisions and facilitating their expansion.
Report Scope:
In this report, United Kingdom electric vehicle
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Market, By Vehicle Type:
- Passenger
Car
- Commercial
Vehicle
- Market, By Drivetrain Technology
Type:
- Market, By Charging Infrastructure
Trend:
- Wired Charging
- Inductive/Wireless
- Market, By Region:
- London
- South
East
- East
Anglia
- Scotland
- South
West
- East
Midlands
- Yorkshire
& Humberside
- Rest of United Kingdom
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in United Kingdom electric vehicle market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players.
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com