UK Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029
The UK electric vehicle charging stations market is anticipated to expand at a CAGR of 19.52% to attain US$1,621.717 million by 2029 from US$664.988 million in 2024.
An EV (electric vehicle) charging station is a hub or center that offers charging solutions for these vehicles. This station links an EV to a power source, allowing electric vehicles, like passenger cars, two/three-wheel EVs, fleets, and electric transport vehicles, to charge their batteries. The EV charging station market is expected to experience significant growth in the UK. This is primarily due to the increasing ownership of electric vehicles and the introduction of new policies and investment plans to enhance the nation's EV infrastructure. Introducing new technologies, like self-driving, and the sustainability offered by such vehicles also propels this market’s growth.
UK Electric Vehicle Charging Stations Market Drivers:
The increasing sales of electric vehicles.
The increasing demand and popularity of electric vehicles over conventional, petrol, or diesel engines in the United Kingdom is forecasted to propel its EV charging station market forward. In the past few years, the UK’s new vehicle market observed a massive shift towards the demand for EVs. With the increase in the nation’s electric vehicle sales, the development of the EV charging station will necessitate growing the market forward.
The Society of Motor Manufacturers and Traders Limited (SMMTL), the largest trade association in the United Kingdom, stated that in August 2024, the total new registration of battery electric vehicles (BEVs) in the country was 19,113 units. This figure shows a 10.8% increase from August 2023, when the total new registration of BEVs in the nation was recorded at 17,243. Similarly, the year-to-date (YTD) BEV sales till August 2023 were 193,221 units, which expanded by about 10.5% in 2024, reaching 213,544 units.
The organization further stated that in August 2023, BEVs held about 20.1% of the total new car market share in the United Kingdom, with petrol and diesel vehicles holding 55.7% and 6.5% market shares, respectively. The market share of BEVs in 2024 grew to 22.6%, with a decrease in the market share for petrol and diesel vehicles, which was recorded at 50.7% and 6.1%, respectively.
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Report Coverage:
Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
UK Electric Vehicle Charging Stations Market is segmented and analyzed as follows:
By Vehicle Type
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
By Application
Commercial
Residential
By Charging Type
AC Charging (Level 1 and Level 2)
DC Charging
- 1. INTRODUCTION
- 1.1. Market Overview
- 1.2. Market Definition
- 1.3. Scope of the Study
- 1.4. Market Segmentation
- 1.5. Currency
- 1.6. Assumptions
- 1.7. Base and Forecast Years Timeline
- 1.8. Key benefits for the stakeholders
- 2. RESEARCH METHODOLOGY
- 2.1. Research Design
- 2.2. Research Process
- 3. EXECUTIVE SUMMARY
- 3.1. Key Findings
- 4. MARKET DYNAMICS
- 4.1. Market Drivers
- 4.2. Market Restraints
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers
- 4.3.2. Bargaining Power of Buyers
- 4.3.3. The Threat of New Entrants
- 4.3.4. Threat of Substitutes
- 4.3.5. Competitive Rivalry in the Industry
- 4.4. Industry Value Chain Analysis
- 4.5. Analyst View
- 5. UK ELECTRIC VEHICLE CHARGING STATIONS MARKET BY VEHICLE TYPE
- 5.1. Introduction
- 5.2. Battery Electric Vehicle (BEV)
- 5.3. Plug-in Hybrid Electric Vehicle (PHEV)
- 6. UK ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION
- 6.1. Introduction
- 6.2. Commercial
- 6.3. Residential
- 7. UK ELECTRIC VEHICLE CHARGING STATIONS MARKET BY CHARGING TYPE
- 7.1. Introduction
- 7.2. AC Charging (Level 1 and Level 2)
- 7.3. DC Charging
- 8. COMPETITIVE ENVIRONMENT AND ANALYSIS
- 8.1. Major Players and Strategy Analysis
- 8.2. Market Share Analysis
- 8.3. Mergers, Acquisitions, Agreements, and Collaborations
- 8.4. Competitive Dashboard
- 9. COMPANY PROFILES
- 9.1. ChargePoint Inc
- 9.2. BP Chargemaster (bp pulse)
- 9.3. Siemens AG
- 9.4. Tesla Inc
- 9.5. POD Point
- 9.6. EVBox
- 9.7. Ecotricity
- 9.8. InstaVolt
- 9.9. Shell Recharge
- 9.10. ChargePlace Scotland
- 9.11. IONITY GmbH
- 9.12. GRIDSERVE
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