UK Electric Car Market 2023 Driving Factors Forecast Research 2029

UK electric car market is projected to grow at a CAGR of more than 20.0% during the forecast period, 2019-2025. High disposable income, favorable government policies, government subsidies and continuous introduction of the new car models are some of the major factors driving the growth of the market. As per the European Automobile Manufacturers Association, in 2019, the electric vehicle car sales augmented by 21.5% as compared to 2018 and reached to more than 72,800 in 2019 from around 60,000 in 2018. A modification in company car tax will be applied in Britain as there will be zero company car tax in pure electric cars from April 2020. Moreover, from 2021 the average emissions of all newly registered cars from an automaker should be below 95 g/km CO2. If the automaker fails to meet the target, the automaker has to pay a penalty of around $100 for each g/km of target exceedance. Hence, in order to reduce the average emissions, the automaker will introduce more EVs in the market.

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With the help of apparent insights depicted here into a wide range of product and service releases by key competitors in the market, novice players are able to position themselves in the vast market. It is an indispensable need to get detailed idea to track future business growth and this UK Electric Car Market research report is the best medium to get that vision. It also aims at providing market environment along with covering complete market information. UK Electric Car Market research report also enables business owners to have firm grasp over what consumers exactly expect, their future demands, wants and preferences by offering detailed customer related data. It further discusses about key market players and ongoing latest trends.

This informative yet easy to understand UK Electric Car Market study report covers wide-ranging product launch wise latest trends, regulatory shifts and other important factors, which are expected to affect the overall industry growth for the approaching time span 2022-2028. It aims at providing detailed knowledge about what customers exactly want from which key players can make sound decision making for the growth of business. It also aims at measuring marketing effectiveness. SWOT Analysis technique is also employed to form the market research report to cover helpful opportunities, possible challenges and threats. Impact of new corona virus on the global economy is also shared in this UK Electric Car Market report. Collaborations, mergers and acquisitions like strategies are also covered in this market study report.

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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

UK Electric Car Market Report Segment
By Vehicle Type
• Hatchback
• Sedan
• SUV

By Propulsion Technology
• Battery Electric Cars
• Plug-in Hybrid Electric Car

By Battery Type
• NiMH
• Li-Ion
• Others

The Report Covers
• Comprehensive research methodology of UK Electric Car 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 Electric Car Market.
• Insights about market determinants which are stimulating UK Electric Car Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

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