The UK’s Electric Vehicle Market is estimated to be USD 23.66 Bn in 2023 and is expected to reach USD 55.15 Bn by 2028, growing at a CAGR of 18.44%.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
The analyst analyses the UK’s Electric Vehicle Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
Market Segmentations
The UK’s Electric Vehicle Market is segmented based on Vehicle Type, Vehicle Drive Type, Vehicle Class, Propulsion Type, Charging Type, and Top Speed.- By Vehicle Type, the market is classified into Two-Wheeler, Passenger Car, and Commercial Vehicle.
- By Vehicle Drive Type, the market is classified into Front Wheel Drive, Rear Wheel Drive, and All Wheel Drive.
- By Vehicle Class, the market is classified into Mid-Priced and Luxury.
- By Propulsion Type, the market is classified into Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), and Fuel Cell Electric Vehicle (FCVE).
- By Charging Type, the market is classified into Super Charging and Inductive Charging.
- By Top Speed, the market is classified into Less than 100 MPH, 100 to 125 MPH, and More than 125 MPH.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Alcraft Motor Co., Ford Motor Co., Honda Motor Co., Ltd., Jaguar Land Rover, Kia Corp., Lotus Cars Ltd., Nissan Motor Co., Ltd, Tesla, Inc., Volvo CCars, etc.Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the UK’s Electric Vehicle Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.The analyst analyses the UK’s Electric Vehicle Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the UK’s Electric Vehicle Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Favourable Regulatory Frameworks and Additional Incentives to Safeguard EV Sales
4.1.2 Surge in Electric Car Registrations
4.1.3 Rising Prices of Petroleum
4.2 Restraints
4.2.1 High Upfront Cost and Charging Infrastructure
4.2.2 Long Time for Charging
4.2.3 Lower Vehicle Range
4.3 Opportunities
4.3.1 Market Penetration in Developing Countries
4.3.2 Development in Heavy Duty Vehicles
4.3.3 Research and Development in Electric Vehicles
4.4 Challenges
4.4.1 Limited Battery Capacity and Concerns over Battery Safety
4.4.2 Lack of Charging Infrastructure
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of Covid-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 UK’s Electric Vehicle Market, By Vehicle Type
6.1 Introduction
6.2 Two-Wheeler
6.3 Passenger Car
6.4 Commercial Vehicle
7 UK’s Electric Vehicle Market, By Vehicle Drive Type
7.1 Introduction
7.2 Front Wheel Drive
7.3 Rear Wheel Drive
7.4 All-Wheel Drive
8 UK’s Electric Vehicle Market, By Vehicle Class
8.1 Introduction
8.2 Mid-Priced
8.3 Luxury
9 UK’s Electric Vehicle Market, By Propulsion
9.1 Introduction
9.2 Battery Electric Vehicle (BEV)
9.3 Plug-In Hybrid Electric Vehicle (PHEV)
9.4 Fuel Cell Electric Vehicle (FCVE)
10 UK’s Electric Vehicle Market, By Charging
10.1 Introduction
10.2 Super Charging
10.3 Inductive Charging
11 UK’s Electric Vehicle Market, By Top Speed
11.1 Introduction
11.2 Less than 100 MPH
11.3 100 to 125 MPH
11.4 More than 125 MPH
12 Competitive Landscape
12.1 Competitive Quadrant
12.2 Market Share Analysis
12.3 Strategic Initiatives
12.3.1 M&A and Investments
12.3.2 Partnerships and Collaborations
12.3.3 Product Developments and Improvements
13 Company Profiles
13.1 Alcraft Motor Co.
13.2 Ford Motor Co.
13.3 Honda Motor Company, Ltd.
13.4 Jaguar Land Rover
13.5 Kia Corp.
13.6 Lotus Cars Ltd.
13.7 Nissan Motor Co., Ltd
13.8 Tesla, Inc.
13.9 Volvo Cars
14 Appendix
14.1 Questionnaire
Companies Mentioned
- Alcraft Motor Co.
- Ford Motor Co.
- Honda Motor Company, Ltd.
- Jaguar Land Rover
- Kia Corp.
- Lotus Cars Ltd.
- Nissan Motor Co., Ltd
- Tesla, Inc.
- Volvo Cars
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 205 |
| Published | January 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 23.66 Billion |
| Forecasted Market Value ( USD | $ 55.15 Billion |
| Compound Annual Growth Rate | 18.4% |
| Regions Covered | United Kingdom |
| No. of Companies Mentioned | 9 |
