Press release
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
The comprehensive report titled "United Kingdom Electric Vehicle Market Analysis and Forecast 2021-2027" provides deep insights into the current and future state of the EV market in the United Kingdom. The report covers a wide range of factors impacting the market growth, including market drivers, restraints, and regional dynamics.
The research methodology employed in this report ensures accuracy and reliability. A detailed analysis of market trends, demand-supply dynamics, and the impact of external factors, such as lockdowns, has been undertaken. Furthermore, the report conducts a strategic analysis of companies that have excelled during the lockdown period, offering a comprehensive view of market dynamics.
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What are United Kingdom Electric Vehicle Market Dynamics?
The United Kingdom is committed to achieving net-zero carbon emissions by 2050. With the transportation sector responsible for a significant portion of greenhouse gas emissions, particularly from cars, electric vehicles offer a viable solution. To this end, the Committee for Climate Change (CCC) recommended that all new vehicles be electric-powered by 2035, aligning with the country's net-zero goals. The government has also announced a phased-out approach for petrol and diesel cars, with a plan to eliminate them entirely by 2030.
While the EV market in the United Kingdom shows substantial promise, challenges persist. The expansion of charging infrastructure remains a key concern. To meet the needs of the growing EV fleet, over 280,000 charging points are estimated to be required by 2030, a significant increase from the existing 20,000 charge points. The report highlights the challenges posed by inadequate charging infrastructure, particularly in on-street locations, and the potential solutions to address this issue.
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What is United Kingdom Electric Vehicle Market Regional Insight?
Scotland leads the way in EV adoption, boasting the highest number of electric vehicle charging devices per capita, followed by England, Wales, and Northern Ireland. While electric vehicles currently constitute a small percentage of the overall vehicle market, they have witnessed impressive growth. Key findings show that 2020 marked a significant milestone, with the highest number of new electric vehicle registrations ever recorded. The report also sheds light on segment analysis, emphasizing the dominance of Battery Electric Vehicles (BEVs) in the market.
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What is United Kingdom Electric Vehicle Market Segmentation?
by Type
• BEV
• PHEV
• HEV
Battery electric cars, hybrid electric vehicles, and plug-in hybrid electric vehicles are the three sub-segments of the market based on Type. During the projected period, the battery electric vehicle segment is anticipated to dominate the market. In 2020, battery electric vehicles (BEVs) will make up around 20% of the market for new cars, with plug-in hybrid electric vehicles (PHEVs) making up the remaining 10%. When mild hybrids are taken into account, the adoption of electric vehicles has increased by almost 70%, which contrasts with a decline in overall vehicle registrations compared to pre-pandemic levels. 115,706 new cars were registered in November, a 1.7% increase over the previous month.
by Vehicle Type
• Two-wheeler
• Passenger car
• Commercial vehicle
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Who are United Kingdom Electric Vehicle Market Key Players?
• BMW
• Mercedes Benz
• Bollore
• Mistubishi
• Nissan
• Peugeot
• Tesla
• Volkswagen.
• Alstom
• PSA Group
• Iveco Bus
• De Dion-Bouton
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Table of content for the United Kingdom Electric Vehicle Market includes:
1. Global United Kingdom Electric Vehicle Market: Research Methodology
1. Global United Kingdom Electric Vehicle Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global United Kingdom Electric Vehicle Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global United Kingdom Electric Vehicle Market Segmentation
• Global Market, by Type (2020-2027)
• Global Market, by Vehicle Type (2020-2027)
5. Regional United Kingdom Electric Vehicle Market(2020-2027)
• Regional Market, by Type (2020-2027)
• Regional Market, by Vehicle Type (2020-2027)
• Regional Market, by Country (2020-2027)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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