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:
• PHEV
• BEV
• 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