UK Battery Electric Vehicle (BEV) Market 2023 Driving Factors Forecast Research 2029

UK battery electric vehicle market is forecast to grow at a CAGR of more than 22.0% during the forecast period. Favorable government policies, government subsidies and continuous introduction of the new BEV models are some of the major factors driving the growth of the market in the country. As per the European Automobile Manufacturers Association, in 2019 the electric vehicle car sales in the country increased by 144% YoY in 2019 and reached more than 37,500 from around 15,500 in 2018. Contrary to this, PHEV sales decreased by 21% YoY to nearly 35,000 in 2019. Another key factor for the growth of the market in the country includes a modification in company car tax from April 2020 in which there will be zero company car tax in pure electric cars. Besides, after 2021, the average emissions of all newly registered cars from an automaker should be below 95 g/km CO2.

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The market is segmented on the basis of vehicle type and battery type. Based on vehicle type, the market is segmented into commercial vehicles, passenger cars, and others. The passenger vehicle market is forecast to have a major market during the forecast period. On the basis of battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion battery BEVs is forecast to hold a major market share during the forecast period.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
UK Battery Electric Vehicle Market by Vehicle Type
o Passenger Car
o Commercial Vehicle
o Others

UK Battery Electric Vehicle Market by Battery Type
o NiMH
o Li-Ion
o Others

Company Profiles
o Arrival Ltd.
o Audi AG
o BMW AG
o BYD Auto Co., Ltd.
o Daimler AG
o Honda Motor Co., Ltd.
o Hyundai Motor Co.
o Jaguar Land Rover Ltd.
o Kia Motors Corp.
o Nissan Motor Co.
o Renault Group
o Tesla, Inc.
o Volkswagen AG
o General Motors

The Report Covers
• Comprehensive research methodology of UK Battery Electric Vehicle Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting UK Battery Electric Vehicle Market.
• Insights about market determinants that are stimulating UK Battery Electric Vehicle Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

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