UK Electric Vehicle Market 2023 Driving Factors Forecast Research 2029

UK Electric Vehicle market is estimated to grow at a CAGR of more than 23.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases. UK is a member country of the Electric Vehicles Initiative (EVI) is a multi-government policy forum dedicated to accelerating the introduction and adoption of electric vehicles. The growing environmental concerns along with cohesive government initiatives are some other aspects to fuel the market growth in the region. However, the high cost of batteries and the low-range availability of electric vehicles are the key restraining factor in the country.

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The market is segmented on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on the battery type, the Li-ion battery market is anticipated to showcase a significant growth rate.

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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 Electric Vehicle Market by Vehicle Type
o Commercial Vehicles
o Passenger Cars
o Two-Wheelers

UK Electric Vehicle Market by Propulsion Technology
o Battery Electric Vehicles
o Plug-in Hybrid Electric Vehicle

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

Company Profiles
o Alcraft Motor Co. Ltd.
o Audi AG
o BMW AG
o General Motors Co.
o Jaguar Land Rover
o Nissan Motor Co.
o Porsche AG
o Renault Group
o Mia Electric
o Mitsubishi Motors Corp.

The Report Covers
• Comprehensive research methodology of the UK 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 the UK Electric Vehicle market.
• Insights about market determinants which are stimulating the UK 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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