According to a report published by TechSci Research titled “United Kingdom Electric Vehicle Market By Vehicle Type, By Drivetrain Technology Type, By Charging Infrastructure Trends, Competition, Forecast & Opportunities, 2016 – 2026,” the electric vehicle market in the UK is expected to surpass $5.4 billion by 2026. This growth is primarily attributed to the favorable government incentive schemes and subsidies for electric vehicle adoption. Additionally, leading automobile companies are actively engaged in research and development efforts to create more advanced and affordable electric vehicles, which is projected to have a positive impact on the country’s electric vehicle market in the coming years. Moreover, increasing concerns related to rising greenhouse gas emissions and declining air quality are driving consumer preference towards electric vehicles, further contributing to the surge in demand within the UK market.
Browse 36 market data Figures and Tables spread through 72 Pages and an in-depth TOC on “United Kingdom Electric Vehicle Market”
https://www.techsciresearch.com/report/united-kingdom-electric-vehicle-market/1363.html
In 2018, the passenger car segment accounted for over 95% of the United Kingdom electric vehicle market, establishing its dominance. Major market players have made significant investments in the electric passenger car segment, solidifying its leading position. London serves as a focal point for the electric vehicle market in the UK, with both the government and private automobile companies focusing on the development of charging infrastructure in the city. This development is expected to bolster the sales of electric vehicles in the region over the next five years.
The presence of renowned global automotive companies such as BMW, Mitsubishi, Nissan, Tesla, Volkswagen, Renault, Audi, and others in the global electric vehicle marketplace, coupled with their ongoing research and development endeavors to manufacture technologically advanced and efficient electric vehicles, is projected to intensify competition in the UK electric vehicle market in the forthcoming years. Mr. Karan Chechi, Research Director at TechSci Research, a globally recognized research-based management consulting firm, stated, “The increasing number of government initiatives aimed at promoting the adoption of electric vehicles, combined with the ongoing research and development projects by leading auto players, is expected to drive electric vehicle sales at an exponential rate in the UK until 2026. Furthermore, due to mounting environmental concerns, consumer focus is shifting towards electric vehicles, which is anticipated to further fuel market growth during the forecast period.”
“United Kingdom Electric Vehicle Market By Vehicle Type, By Drivetrain Technology Type, By Charging Infrastructure Trends, Competition Forecast & Opportunities, 2016 – 2026” has analyzed the potential of electric vehicle market across the United Kingdom, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by United Kingdom electric vehicle market.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
- To assess the demand scenario for electric vehicle market.
- To analyze and forecast the market size of United Kingdom electric vehicle market.
- To classify and forecast United Kingdom electric vehicle market on the basis vehicle type, drivetrain technology type, charging infrastructure and region.
- To identify drivers and challenges for United Kingdom electric vehicle market.
- To identify market trends and development in the United Kingdom electric vehicle market.
- To identify and analyze the profiles of leading players in United Kingdom electric vehicle market.
Key Target Audience:
- United Kingdom electric vehicle manufacturers, distributors and other stakeholders
- Associations, organizations, forums and alliances related to electric vehicles
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
Report Scope:
In this report, United Kingdom electric vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By Vehicle Type:
- Passenger Car
- Commercial Vehicle
Market, By Drivetrain Technology Type:
- PHEV
- BEV
Market, By Charging Infrastructure Trend:
- Wired Charging
- Inductive/Wireless
Market, By Region:
- London
- South East
- East Anglia
- Scotland
- South West
- East Midlands
- Yorkshire & Humberside
- Rest of United Kingdom
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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