Report Description

According to ConsTrack360, the electric vehicle market in the country are expected to grow by 23.5% on an annual basis to reach US$19.0 billion in 2023.

The medium to long term growth story of the electric vehicle market in United Kingdom remains strong. Electric vehicle adoption is expected to grow steadily over the forecast period, recording a CAGR of 23.5% during 2023-2027. The electric vehicle market in the country will increase from US$15.4 billion in 2022 to reach US$44.2 billion by 2027.

Over the last two years, the demand for electric vehicles has grown significantly in the United Kingdom market, as concerns about climate change and air pollution take center stage. The growing demand is clearly evident in the sales number of major electric vehicle manufacturers. MG, the second-ranked EV manufacturer in the United Kingdom behind Tesla, experienced record sales of its MG-4 in Q1 2023.

The demand for EVs is projected to grow further over the next three to four years, however, investment in public charging infrastructure is required for an accelerated growth trajectory in the United Kingdom. According to data from Zapmap, the UK-based EV charging point app, there were 43,626 EV charging points and 780,000 EVs registered on the road, at the end of May 2023. This shows that there are 17 vehicles per charging point. With the demand and adoption projected to grow, there is an urgent need for investment in public charging infrastructure.

Tata Group announced a multi-billion-dollar investment to set up an EV battery plant in the United Kingdom

With the adoption of electric vehicles poised for accelerated growth over the next five years, investment in related sectors, including the manufacturing of batteries, is also projected to rise significantly.

  • Tata Group, in July 2023, announced an investment of US$5.2 billion to set up an EV battery plant in the United Kingdom. The production facility will supply battery units to Tata Group’s brands including Jaguar Land Rover and Tata Motors. The production facility is expected to have a 40GW capacity, which would supply half a million EVs per year.
    The investment in the state-of-the-art production facility is projected to power the United Kingdom’s shift to electric vehicles, while also driving the growth of Tata Group’s businesses, including Jaguar Land Rover. The facility is also the first giga factory for EV batteries that will be built by Tata Group outside of India, where the firm is experiencing strong growth in the electric vehicles market.

    Innovative startups are securing funding to accelerate the adoption of electric vehicles in the UK

    Onto, the London-based electric car subscription service provider, announced that the firm secured ?100 million in a new credit line in Q1 2023. The firm is planning to use the capital to further drive the adoption of electric vehicles in the United Kingdom.
  • Launched in 2018, Onto has experienced a growth of 200% in 2022. As of February 2023, the firm has an EV fleet of more than 7,000 vehicles, which is one of the largest across the United Kingdom. To make the subscription service attractive to the masses, Onto has an innovative business model, which involves a monthly contract, free charging, no deposit, and no road tax.


The asset-backed credit line, raised from CDPQ and Pollen Street, will enable Onto to further expand its fleet of electric vehicles. This will subsequently aid the adoption of EVs among Brits from the short to medium-term perspective, thereby supporting the growth of the overall market over the next three to four years.
Alongside Onto, Arrival is another UK-based EV startup that has raised a funding round in Q1 2023. The firm, listed on the Nasdaq, raised US$300 million from Westwood Capital to commence production in the United States. Going forward, more such investment rounds are expected to emerge in the UK market, supporting innovation and growth in the fast-growing sector.

Tesla is gaining strong traction among electric vehicle buyers in the United Kingdom in 2023

Tesla, which is based in the United States and is one of the leading players in the global market, is seen gaining market share in the United Kingdom market. Tesla Model Y, for the first time, became the highest-selling EV model in the United Kingdom in June 2023.

  • According to data from the Society of Motor Manufacturers and Traders (SMMT), a total of 5,539 Model Y’s were sold in the United Kingdom. The growing sales number in the country is a testament to the dominant position enjoyed by Tesla in the global electric vehicles market.


Going forward, ConsTrack360 expects the trend to continue in the domestic market, with Tesla and Chinese EV maker BYD projected to dominate the electric vehicles industry from the short to medium-term perspective.

This report provides a detailed data-centric analysis of the electric vehicle and charging infrastructure market, value and volume metrics covering market opportunities and risks across a range of industry categories. with over 75+ KPIs at the country level, this report provides a comprehensive understanding of electric vehicle market dynamics, market size and forecast, and charging infrastructure market statistics.

This report provides the overall vehicle market of the country by value and volume. Further, it breaks down electric and charging infrastructure market. Electric vehicle further breaks down market opportunity by type of vehicle driven, car segments, class of vehicles, propulsion type, distance range and by components in United Kingdom.

The electric vehicle charging infrastructure provides market size data by number of charging stations, and number of charging points. It breaks down market opportunity by type of chargers, by location of charging points, by charging speed, by connection phase, by type of connectivity and by charger connectivity infrastructure.

ConsTrack360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.


Scope

This report provides in-depth data-centric analysis of Electric Vehicle and Charging Infrastructure Market in United Kingdom through 97 tables and 119 charts. Below is a summary of key market segments:

United Kingdom Overall Vehicle Market Size and Future Growth Dynamics

  • Market size by value
  • Market size by volume


    United Kingdom Electric Vehicle Market Size and Forecast
  • Market size by value
  • Market size by volume

    United Kingdom Electric Vehicle Market Volume By Drive Segment
  • Front Wheel Drive
  • Rear Wheel Drive
  • All-Wheel Drive

    United Kingdom Electric Vehicle Market Value and Volume By Car Segment
  • Passenger Car
  • Commercial Vehicle

    United Kingdom Electric Vehicle Market Value and Volume By Passenger Car Segment
  • Small Car
  • Medium Car
  • Crossover Car
  • Large Car
  • SUV

    United Kingdom Electric Vehicle Market Value and Volume By Commercial Vehicle Segment
  • Light Duty Vehicle (Class 1-Class 3)
  • Medium Duty Vehicle (Class 4-Class 6)
  • Heavy Duty Vehicle (Class 7-Class 8)

    United Kingdom Electric Vehicle Market Value By Vehicle Class
  • Low-Priced
  • Mid-Priced
  • Luxury Class

    United Kingdom Electric Vehicle Market Value By Powertrain
  • Parallel Hybrid
  • Series Hybrid
  • Combined Hybrid

    United Kingdom Electric Vehicle Market Value By Distance Range
  • Up to 150 Miles
  • 151-300 Miles
  • Above 300 Miles

    United Kingdom Electric Vehicle Market Value By Charging Type
  • Normal Charging
  • Super Charging

    United Kingdom Electric Vehicle Market Value By Propulsion Type
  • Plug-In Hybrid Electric Vehicles (PHEVs)
  • Battery Electric Vehicles (BEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Fuel Cell Electric Vehicles (FCEVs)

    United Kingdom Electric Vehicle Market Value and Volume By Vehicle Type
  • Two Wheelers (e2W)
  • Three-Wheeler (e3W)
  • Four Wheelers (e4W)
  • Electric Buses

    United Kingdom Electric Vehicle Market Value By Cities
  • Tier 1 Cities
  • Tier 2 Cities
  • Tier 3 Cities

    United Kingdom Electric Vehicle Market Value By Components
  • Battery Cells & Packs
  • On-Board Charge
  • Motor
  • Reducer
  • Power Control Unit
  • Battery Management System
  • Fuel Processor
  • Power Conditioner
  • Air Compressor
  • Humidifier

    United Kingdom Electric Vehicle Infrastructure Market Value

    United Kingdom Electric Vehicle Infrastructure Market Volume
  • Number of Charging Points
  • Number of Charging Stations

    United Kingdom Electric Vehicle - Number of Charging Points By Charging Type
  • Level 1 – 240 (V)
  • Level 2 – 120 (V)
  • Direct Current (DC)

    United Kingdom Electric Vehicle - Number of Charging Stations By Charging Type
  • Level 1 – 240 (V)
  • Level 2 – 120 (V)
  • Direct Current (DC)

    United Kingdom Electric Vehicle - Number of Charging Points By Location
  • Residential and Destination
  • Streets
  • Workplaces
  • Flew depots

    United Kingdom Electric Vehicle - Number of Charging Points By Charging Speed
  • Slow
  • Fast
  • Rapid
  • Ultrarapid

    United Kingdom Electric Vehicle - Number of Charging Stations By Charging Speed
  • Slow
  • Fast
  • Rapid
  • Ultrarapid

    United Kingdom Electric Vehicle - Number of Charging Points By Vehicle
  • Passenger Cars
  • Buses
  • Trucks
  • Light Commercial Vehicles

    United Kingdom Electric Vehicle - Number of Charging Points By Connection Phase
  • Single Phase
  • Three Phase

    United Kingdom Electric Vehicle - Number of Charging Points By Infrastructure Type
  • CSS
  • CHAdeMO
  • GB/T
  • Other

    United Kingdom Electric Vehicle - Number of Charging Points By Connectivity
  • Smart Charging Station
  • Non-Connected Charging Station


    Reasons To Buy

    The report provides a comprehensive overview of the United Kingdom electric vehicle market and infrastructure, covering the following key aspects:
  • Market size by value and volume: This report provides detailed market size and forecast data for electric vehicles in United Kingdom, by value and volume. This data is essential for understanding the current and future potential of the market.
  • Detailed EV market opportunity: This report segments the electric vehicle market by drive segment, car segment, commercial vehicle segment, passenger car segment, commercial vehicle segment, vehicle class, powertrain, distance range, charging type, propulsion type, vehicle type, and cities. This segmentation provides a granular view of the market and helps to identify key growth areas.
  • EV infrastructure: This report also provides a comprehensive overview of the United Kingdom electric vehicle infrastructure market, including market size and forecast data, along with detailed market segmentation. This information is essential for businesses that are looking to invest in the United Kingdom electric vehicle infrastructure market.
  • Assess risks: Granular segment level information helps in identifying new business opportunities and risks in the United Kingdom electric vehicle and infrastructure market.