Reports
Sale
United Kingdom Electric Vehicle Market Size, Growth, Trends: By Vehicle Type: Passenger Vehicle, Commercial Vehicle; By Propulsion Type: Battery Electric Vehicle, Others; By Vehicle Drive Type; By Vehicle Class; By Vehicle Top Speed; By Charging Point Type; By Vehicle Connectivity; Market Dynamics; Competitive Landscape; 2024-2032
United Kingdom Electric Vehicle Market Outlook
The United Kingdom electric vehicle market size was approximately USD 19.76 billion in 2023. The market is assessed to grow at a CAGR of 14.2% between 2024 and 2032, reaching a value of USD 67.45 billion by 2032.
Key Takeaways
- The UK ranks among the world’s top 5 nations for EV readiness and transition.
- Between 2023 and 2027, 71% of new vehicle launches in the UK are expected to be electric.
- The UK is among the top 10 countries in the world ranked by electric vehicle demand.
An electric vehicle is an advanced model of automobile which runs on an electric motor instead of traditionally powered diesel/petrol engines. It is gaining widespread popularity among governments and people owing to its small carbon footprint and its smart features. It travels noiselessly and provides a comfortable riding experience to the passenger.
The market is being driven by shift towards sustainability and changing consumer sentiment that is motivating manufacturers to phase out the development of ICE vehicles. The impact of rising air pollution on people’s health and the high carbon emissions generated by transport sector are accelerating the transition towards electrification of buses and cars in the United Kingdom.
Key Trends and Developments
High demand for pre-owned EVs; good government support for battery manufacturing; rise of connected and automated vehicles; and surge in demand for BEVs are the major trends boosting the United Kingdom electric vehicle market development
| Date | Event |
| Jan 2024 | In January 2024, 20,935 new battery electric vehicles were registered in the UK, recording an year-on-year growth of 13.1%. |
| Feb 2024 | The UK government announced a grant of up to 75%, funding the installation of electric vehicle charging points in state-funded schools and educational institutions. |
| Dec 2023 | The Chinese EV company Nio is planning to launch ET-7 vehicle in the UK by the end of 2024. This vehicle can run for 1000km on a single charge. |
| Nov 2023 | Nissan announced an investment of 2 billion pounds in the UK to upgrade its existing car fleet like Qashqai, Juke, and Leaf, and establish a new EV battery gigafactory. |
| Trends | Description |
| High demand for pre-owned electric vehicles | Vehicle owners are gradually switching to eco-friendly transportation solutions, including EVs. This is reflected in their inclination to purchase second-hand electric vehicles. |
| Good government support for battery research and manufacturing | The UK government is offering incentives to companies to accelerate the production of innovative batteries for electric vehicles, addressing concerns surrounding their safety and performance. |
| Rise of connected and automated electric vehicles | The increasing popularity of smart and connected electric vehicles is expected to favour UK’s electric vehicle market. |
| Surge in demand for BEVs (battery operated electric vehicles) | The United Kingdom is witnessing a steady growth in the demand for battery operated electric vehicles, due to their environmental benefits and lower noise levels. |
United Kingdom Electric Vehicle Market Trends
Pre-owned electric vehicles are extremely popular among people because of their low cost and environment friendly nature. The desire to own an electric vehicle among the younger population is also high because of its technological superiority over other automotives. The shift in consumer preferences and increased demand for clean mobility are the key factors driving the United Kingdom electric vehicle market growth.
The government is incentivising battery production in the UK to boost the adoption of electric vehicles. In 2023, it invested 27.6 million pounds in the Faraday Battery Challenge to encourage research and innovation for manufacturing electric vehicle battery, with a focus on its cost-effectiveness. The growing research around lowering the cost of battery production and addressing challenges like range anxiety is expected to lower the cost of EVs and improve their performance, thus boosting EV adoption in the coming years.
Market Segmentation
“United Kingdom Electric Vehicle Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Vehicle Type | Passenger vehicle, Commercial vehicle |
| Propulsion Type | Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle |
| Vehicle Drive Type | Front Wheel Drive (FWD), Rear Wheel Drive (RWD), All Wheel Drive (AWD) |
| Vehicle-Class | Low-Priced, Mid-Priced, Luxury |
| Vehicle Top Speed | 125 mph, More than 125 mph |
| Charging Point Type | AC (normal charging), DC (super charging), Inductive charging |
| Vehicle Connectivity | V2B or V2I, V2G, V2V, V2X |
Passenger vehicles are expected to maintain their lead in the United Kingdom electric vehicle market due to their increased sales and desire for personal mobility
Passenger vehicles are expected to dominate the United Kingdom electric vehicle market over the forecast period. Their dominance can be attributed to increased consumer demand for personal mobility, especially in emerging nations like India and China. Besides, the government’s zero emissions vehicle mandate, which says that 8/10 cars manufactured by 2030 in the UK should either be electric or hydrogen fuelled, and other similar policies supporting EV adoption are expected to provide a boost to electric mobility solutions. Moreover, with improvements in battery technology and vehicle range, the adoption of EVs is expected to register a significant uptick.
Commercial vehicles are also expected to significantly contribute to the United Kingdom electric vehicle market revenue, as companies renew their existing vehicular stock and add more vehicles to their fleet. Passenger vehicles, that are used by company’s employees for official purposes, are subject to tax rebates.
V2G is expected to gain popularity and its demand is expected to grow significantly
V2G (vehicle to grid connectivity) is expected to account for a significant United Kingdom electric vehicle market share over the forecast period. This is because V2G allows excess electricity stored in electric vehicle batteries to be transferred to power grids, which aids the consumption of power for other purposes, including lighting, heating, and cooling, among other industrial and residential purposes. With advancements in technology, the integration of V2V (vehicle to vehicle connectivity) in electric vehicles is expected to witness robust growth as commercial need for monitoring parcel delivery and passenger movement increases. V2X (vehicle to everything) is another emerging connectivity technology that can transform the experience of car ownership and driving.
Battery electric vehicles are expected to dominate the market over the forecast period
Battery electric vehicles are gaining significant popularity in the United Kingdom electric vehicle market. This is because product innovations and improvements in vehicle range are encouraging public and lowering their hesitation surrounding the use of electric vehicles. People are switching to environment friendly modes of transport to reduce their carbon footprint and create a sustainable living space, which is favourably impacting the United Kingdom electric vehicle market.
Meanwhile, fuel cell electric vehicles are also expected to witness a surge in demand as the region strengthens its technological expertise in making membrane electrode assembly and hydrogen tanks for cleaner electric vehicles.
Competitive Landscape
The collaboration among battery manufacturers, automotive companies, and government agencies to accelerate vehicle electrification, improve battery production capacity, and improve EV charging infrastructure will be crucial in shaping the market growth trajectory
| Company | Year of Incorporation | Location | Product Range |
| Volkswagen Group | 1861 | Wolfsburg, Germany | Wide range of vehicles, including Porsche, Lamborghini, among others |
| Toyota Motor Corp. | 1937 | Toyota City, Aichi | Engaged in different business fields, including automotive, real estate, and electric vehicles |
| Kia Corp. | 1944 | Seoul, South Korea | Wide range of automotives, including buses, passenger and commercial cars, and hybrid vehicles |
| Renault SA | 2002 | Boulogne-Billancourt, France | Designing and manufacturing a wide range of four wheelers |
Other players in the United Kingdom electric vehicle market include Honda Motor Co., Ltd., MG Motor UK Ltd., Tesla Inc., Volvo Car AB, BYD Ord Shs A, and Nissan Motor Co., Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Vehicle Type |
|
| Breakup by Propulsion Type |
|
| Breakup by Vehicle Drive Type |
|
| Breakup by Vehicle Class |
|
| Breakup by Vehicle Top Speed |
|
| Breakup by Charging Point Type |
|
| Breakup by Vehicle Connectivity |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Europe Electric Vehicle Market Overview
8.1 Key Industry Highlights
8.2 Europe Electric Vehicle Historical Market (2018-2023)
8.3 Europe Electric Vehicle Market Forecast (2024-2032)
8.4 Europe Electric Vehicle Market Share by Countries
8.4.1 United Kingdom
8.4.2 Germany
8.4.3 France
8.4.4 Italy
8.4.5 Others
9 United Kingdom Electric Vehicle Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Electric Vehicle Historical Market (2018-2023)
9.3 United Kingdom Electric Vehicle Market Forecast (2024-2032)
10 United Kingdom Electric Vehicle Market by Vehicle Type
10.1 Passenger Vehicle
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Commercial Vehicle
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 United Kingdom Electric Vehicle Market by Propulsion Type
11.1 Battery Electric Vehicle
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Plug-in Hybrid Electric Vehicle
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Fuel Cell Electric Vehicle
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 United Kingdom Electric Vehicle Market by Vehicle Drive Type
12.1 Front Wheel Drive (FWD)
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Rear Wheel Drive (RWD)
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 All Wheel Drive (AWD)
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 United Kingdom Electric Vehicle Market by Vehicle Class
13.1 Low-Priced
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mid-Priced
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Luxury
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 United Kingdom Electric Vehicle Market by Vehicle Top Speed
14.1 Less than 125 mph
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 More than 125 mph
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 United Kingdom Electric Vehicle Market by Charging Point Type
15.1 AC (Normal Charging)
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 DC (Super Charging)
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 Inductive Charging
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
16 United Kingdom Electric Vehicle Market by Vehicle Connectivity
16.1 V2B or V2I
16.1.1 Historical Trend (2018-2023)
16.1.2 Forecast Trend (2024-2032)
16.2 V2G
16.2.1 Historical Trend (2018-2023)
16.2.2 Forecast Trend (2024-2032)
16.3 V2V
16.3.1 Historical Trend (2018-2023)
16.3.2 Forecast Trend (2024-2032)
16.4 V2X
16.4.1 Historical Trend (2018-2023)
16.4.2 Forecast Trend (2024-2032)
17 Market Dynamics
17.1 SWOT Analysis
17.1.1 Strengths
17.1.2 Weaknesses
17.1.3 Opportunities
17.1.4 Threats
17.2 Porter’s Five Forces Analysis
17.2.1 Supplier’s Power
17.2.2 Buyer’s Power
17.2.3 Threat of New Entrants
17.2.4 Degree of Rivalry
17.2.5 Threat of Substitutes
17.3 Key Indicators for Demand
17.4 Key Indicators for Price
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Volkswagen Group
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Toyota Motor Corp.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Honda Motor Co., Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 MG Motor UK Ltd.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Tesla Inc.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Volvo Car AB
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 BYD Ord Shs A
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Nissan Motor Co., Ltd.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Kia Corp.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Renault SA
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Europe Electric Vehicle Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Electric Vehicle Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Electric Vehicle Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
4. United Kingdom Electric Vehicle Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
5. United Kingdom Electric Vehicle Historical Market: Breakup by Propulsion Type (USD Billion), 2018-2023
6. United Kingdom Electric Vehicle Market Forecast: Breakup by Propulsion Type (USD Billion), 2024-2032
7. United Kingdom Electric Vehicle Historical Market: Breakup by Vehicle Drive Type (USD Billion), 2018-2023
8. United Kingdom Electric Vehicle Market Forecast: Breakup by Vehicle Drive Type (USD Billion), 2024-2032
9. United Kingdom Electric Vehicle Historical Market: Breakup by Vehicle Class (USD Billion), 2018-2023
10. United Kingdom Electric Vehicle Market Forecast: Breakup by Vehicle Class (USD Billion), 2024-2032
11. United Kingdom Electric Vehicle Historical Market: Breakup by Vehicle Top Speed (USD Billion), 2018-2023
12. United Kingdom Electric Vehicle Market Forecast: Breakup by Vehicle Top Speed (USD Billion), 2024-2032
13. United Kingdom Electric Vehicle Historical Market: Breakup by Charging Point Type (USD Billion), 2018-2023
14. United Kingdom Electric Vehicle Market Forecast: Breakup by Charging Point Type (USD Billion), 2024-2032
15. United Kingdom Electric Vehicle Historical Market: Breakup by Vehicle Connectivity (USD Billion), 2018-2023
16. United Kingdom Electric Vehicle Market Forecast: Breakup by Vehicle Connectivity (USD Billion), 2024-2032
17. United Kingdom Electric Vehicle Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 19.76 billion.
The market is estimated to grow at a CAGR of 14.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 67.45 billion by 2032.
The market is being driven by the shift towards sustainability and changing consumer sentiment that is motivating manufacturers to phase out the development of ICE vehicles.
The key trends aiding the market expansion include widespread popularity of pre-owned electric vehicles, investments in battery technology, surge in demand for battery electric vehicles, and technological innovations.
The major types of propulsion systems in EVs include battery electric vehicle, plug-in hybrid electric vehicle, and fuel cell electric vehicle.
The major electric vehicle drive types include front wheel drive, rear wheel drive, and all wheel drive.
The major players in the market are Volkswagen Group, Toyota Motor Corp., Honda Motor Co., Ltd., MG Motor UK Ltd., Tesla Inc., Volvo Car AB, BYD Ord Shs A, Nissan Motor Co., Ltd., Kia Corp., and Renault SA, among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER