U.K. Electric Vehicle Market Size

U.K. Electric Vehicle Market Future Prospects

The U.K. electric vehicle market will generate an estimated revenue of USD 11.7 billion in 2024, and it is projected to grow at a CAGR of 13.5% from 2024 to 2030, reaching USD 25.2 billion by 2030.

This market is growing rapidly due to the government initiatives and rules to decrease carbon footprints, such as announcing an end to the sale of new petrol (gasoline) and diesel cars by 2030.

Additionally, the growing concern and awareness among the people for the environment are driving the market. Numerous people are shifting to electric vehicles to reduce the release of harmful gases that affect the environment. Furthermore, the market is growing due to the developments in battery technology, which offer longer driving ranges and improved vehicle performance.