Market Size of uk electric vehicle Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 585 |
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Market Size (2029) | USD 931 |
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Largest Share by Vehicle Type | Commercial Vehicles |
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CAGR (2024 - 2029) | 9.74 % |
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Fastest Growing by Vehicle Type | Commercial Vehicles |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
United Kingdom Electric Vehicle (EV) Market Analysis
The UK Electric Vehicle Market size is estimated at USD 585 in 2024, and is expected to reach USD 931 by 2029, growing at a CAGR of 9.74% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - HEV : In the UK, HEV is the largest fuel type. Higher usage of gasoline engines with electric benefits in various vehicles, such as passenger cars and commercial vehicles, is the key reason for the growth
- Largest Segment by Vehicle Type - Commercial Vehicles : The passenger vehicle acquires the largest sales in EV sales in the UK, due to the increasing demand of passenger vehicles and there are very few models of other electric vehicle available in the UK.
- Fastest-growing Segment by Fuel Type - HEV : Hybrid vehicles are the fastest-growing fuel type segment due to the advanced technology engine i.e. fusion of fuel and electric with better fuel efficiency, capturing the interest of consumers.
