The UK electric car market is anticipated to grow with a significant CAGR of 20.0% during the forecast period (2019-2025). The primary factors that are expected to drive the UK electric car market include rising competition, increasing awareness regarding zero-emission vehicles, and rising government initiatives for the adoption of electric cars.
The federal government of the US is aggressively pushing the adoption of plug-in vehicles. The sales of electric cars in the country total 1.6 million as of 2020 beginning from 2010. This development is expected to show positive results in the coming years as well. The country has one of the highest electric car fleets across the globe. Tesla Model 3 is the most sold electric car in the country; according to the company it has sold 300,471 electric cars as of December 2019.
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Washington, D.C., in 2014, Along with 37 States and had announced non-monetary incentives, including free-car park and high-occupancy access road, had defined incentives and tax or fee exemption to electric car owners. This development has contributed significantly to the rise in demand for electric vehicles in the US, which in turn is propelling the US electric car market.
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Market Coverage
- The market number available for – 2018-2025
- Base year- 2019
- Forecast period- 2019-2025
- Segment Covered- Vehicle Type, Propulsion Technology, and Battery Type
- Region Covered- UK
- Competitive Landscape- Honda Motor Co., Ltd., BMW AG, AB Volvo, Audi AG, Hyundai Motor Co.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
