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United Kingdom Electric Vehicle Market

United Kingdom Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn.

United Kingdom Electric Vehicle Market

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United Kingdom Electric Vehicle Market:

Britain is falling behind in the global shift to electric vehicles. Government policy has helped to nearly double the electric vehicle stock, year on year, since 2012, & the United Kingdom has the largest electric vehicle battery manufacturing plant in Europe. But, in 2017, Germany overtook the United Kingdom for the first time in electric vehicle sales & China manufactured half of all electric vehicles globally.

Electric vehicle sales are increasing steadily but they are still less than 1% cent of the United Kingdom’s total vehicle fleet. The UK government has decided to banning sales of new fossil-fuelled vehicles by 2040, joining the ranks of nations like Norway, India & France in setting a target. In the 2017 autumn budget, the government announced its purpose to buy electric vehicles for a quarter of its fleet by 2022 which roughly equates to buying 1,250 cars annually. This figure shows in significance compared to the strategies of the Indian government, which plans to purchase more than 10,000 cars a year.

The transportation sector is now the largest source of CO2 in the country. Road transport makes up 85 % of this &, in 2017, vehicle emissions rose for the first time in 17 years. The government’s Clean Growth Strategy contains no important measures to reduce transport emissions while, at the same time, viewing that current policy will fail to meet both the fourth & fifth carbon budgets, which set United Kingdom carbon targets to 2032. But, if it were to bring forward the 2040 fossil-fuelled vehicles ban to 2030, the government could address a large part of this gap.

Vehicle manufacturing is governmentally essential because it produces significant economic activity outside the south east. However, although the United Kingdom has a highly efficient automotive sector, British customers still spend more on imported vehicles than domestically produced ones. This is a steady pattern: at no point in the past decade has the United Kingdom had a trade surplus in this sector, despite a doubling of exports since 2007.

The automotive sector is contributing much less to the United Kingdom’s economy than to foreign economies owing to complex global supply chains. In gross value added terms, £5 Bn went to foreign economies from United Kingdom vehicle sales in 2016. This is because other nations, like Germany, have a major lead in conventional vehicles. But this is not the case for electric vehicles. In 2016, a fifth of all EV sold in Europe were produced at the Nissan plant in Sunderland.

Bringing forward the United Kingdom’s 2040 fossil-fuelled vehicle sales ban to 2030, & continuing to increase fuel efficiency before that date, would reduce United Kingdom oil imports by almost 50 % by 2035. Expected oil cost savings could be as high as £6.63 Bn annually.

The objective of the report is to present a comprehensive analysis of the United Kingdom Electric Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding United Kingdom Electric Vehicle Market dynamics, structure by analyzing the market segments and project the United Kingdom Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the United Kingdom Electric Vehicle Market make the report investor’s guide.
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United Kingdom Electric Vehicle Market, by Type

United Kingdom Electric Vehicle Market, by Vehicle Type

• Two Wheeler
• Passenger Car
• Commercial Vehicle
United Kingdom Electric Vehicle Market Key Players

• Mercedes Benz
• Bollinger
• Bollore
• Microlino
• Mistubishi
• Nissan
• Peugeot
• Smart
• Tesla
• Eaton
• Alfen
• Delphi Automotive
• Volkswagen.
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