United Kingdom Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2027
United Kingdom electric vehicle charging infrastructure market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027. Market value of the United Kingdom electric vehicle charging infrastructure market in the year 2021 was USD400.61 million, where further growth is anticipated in the forecast years. The market growth can be attributed to the higher demand for electric vehicles in the country. Due to rising concerns related to the degrading environment, consumers are highly inclined toward choosing electric vehicles and thus driving the demands for the charging infrastructure. With a surge in demand for efficient charging, the demand for the electric vehicle charging infrastructure is further increasing; the factor, coupled with increased investment in the sector by the government, is expected to further support the growth of the United Kingdom electric vehicle charging infrastructure market in the next five years.
Electric Vehicle Sales Drive Market Growth
Rapidly increasing sales of electric vehicle is the major factor responsible for the growth of the United Kingdom electric vehicle charging infrastructure market in the upcoming five years. Electric vehicle car sales have increased by 76.3% in the year 2021. More than 450,000 electric cars are currently running in the country. The demand for electric vehicles is further expected to increase due to the consumer’s inclination toward affordable fuel and green fuel for vehicles.
While the demand for hybrid vehicles has also increased, which provides a better shift in consumer preferences toward electric vehicles, there were over 775,000 hybrid vehicles as of April 2022. A further increase is anticipated due to rising awareness among the population regarding the harmful effects of carbon-burning fuels and their exhaustion that would affect the environment and energy consumption in the future years. A surge in demand for electric vehicles has generated considerable growth in the United Kingdom electric vehicle charging infrastructure market in the next five years.
Market Segmentation
The United Kingdom electric vehicle charging infrastructure market is segmented by vehicle type, type, charging mode, installed location, connector type, type of charging, competitional landscape, and regional distribution. Based on vehicle type, the market is further segmented into two-wheeler, passenger cars, and commercial vehicles. By type, the market is differentiated between AC and DC. Based on charging mode, the market is differentiated into plug-in and wireless. Based on installed location, the market is divided between commercial and residential. By connector type, the market is fragmented into Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, and others. Based on the type of charging, the market is bifurcated between slow and fast charging. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire & Humberside.
Company Profile
Chargemaster Limited (BP Pulse), SWARCO UK (ChargePlace Scotland), ChargeYourCar Ltd., Fastned, Geniepoint, Gridserve, Tesla Inc., Pod Point, ABB Ltd., Instavolt, among others is a partial list of major market players of the companies responsible for the growth of United Kingdom electric vehicle charging infrastructure market.
Report Scope:
In this report, United Kingdom electric vehicle charging infrastructure market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
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