Picture
SEARCH
What are you looking for?
Need help finding what you are looking for? Contact Us
Compare

PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1105173

Cover Image

PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1105173

UK Electric Vehicle Charging Stations Market - Forecasts from 2022 to 2027

PUBLISHED:
PAGES: 85 Pages
DELIVERY TIME: 1-2 business days
SELECT AN OPTION
PDF (Single User License)
USD 3350
PDF (Multiple User License)
USD 3950
PDF (Enterprise License)
USD 6350

Add to Cart

The UK electric vehicle charging stations market was evaluated at US$294.505 million for the year 2020, growing at a CAGR of 20.46% to reach a market size of US$1,083.988 million by the year 2027.

A charging station for electric vehicles (EVs) is a device that links an EV to a power source, allowing electric cars, neighbourhood EVS, and plug-in hybrids to be charged. While some charging stations include advanced capabilities such as smart metering, cellular connectivity, and network connectivity, others are more basic. The electric vehicle business is quickly expanding around the world, particularly in the UK.

The market for electric car charging is a fast-paced business with a wide range of applications. The growth of automobile charging stations is aided by government programs in several nations throughout the world. In the UK, for example, the government plays an important role by establishing obligatory regulations and funding for the development of electric vehicle charging stations. Governments and electric vehicle charging point manufacturers like Ecotricity and ChargeMaster are investing heavily in the institution of a network of chargers, owing to a growing focus on reducing pollution. This is accelerating the demand for EV charging stations in the United Kingdom.

The existence of key electric car market players in the United Kingdom fuels the growth of the country's EV charging station market. These reasons have resulted in a surge in electric vehicle sales and manufacturing around the world. To ensure that the rising fleet of electric automobiles runs properly, charging stations and established power infrastructure are required. As a result, these factors are linked to the market's expansion over the forecasted period. Furthermore, tight government car emission rules have encouraged consumers to switch to electric vehicles, which will help the electric charging station industry grow in the coming years. Moreover, the market expansion would be aided by advances in communications technology such as real-time information on all-electric automobile charging stations for smart connectivity.

However, in certain countries/regions, commercial charging stations are still few, forcing consumers to rely on charging options available at their offices and residences. Furthermore, the growing number of electric cars may have an impact on charging station functionality, such as the quantity of power generated, the transformer load level, and the load curve.

Because of the rising use of electric vehicles, the AC Level 1 and Level 2 sectors are likely to dominate the electric vehicle charging station market. Charging with alternating current (AC) is often referred to as level 1 or level 2 charging. An in-car inverter converts alternating current (AC) to direct current (DC), which subsequently charges the battery at either level. The majority of electric car drivers in the United States charge their vehicles at home or work using AC power. As more EVs enter the market, this is projected to stimulate demand for AC charging, which will be aided by government restrictions.

The HEV category dominates the market by type, accounting for a sizable revenue share. The HEV provides a dual-fuel and electric driving option, which is particularly beneficial in locations where charging infrastructure is limited. The demand for electric battery vehicles is increasing as private companies and governments seek to build a global network of charging infrastructure to encourage the use of renewable energy. Furthermore, the PHEV market is growing steadily. The demand for these vehicles is expected to increase in future years as their prices fall.

This market is divided into commercial and residential segments depending on the application. The residential usage segment dominates the electric car charging stations market and is expected to continue to do so over the forecast period. This is due to the growing popularity of EVS and the expanding number of charging stations. Furthermore, the commercial market is anticipated to see significant expansion, aided by increased government financing for the development of public charging stations, in coming years.

Over the projection period, the UK is expected to develop significantly in this market. The market in the UK region is predicted to grow because of increased government regulations for car emissions, a rapid acceptance rate of new technologies, and a significant investment in product innovation.

COVID-19 Impact

The market for electric vehicle charging stations in the UK has gained from COVID-19. According to the Global EV Outlook 2021, large expenditures by state and local governments, as well as utilities, had enough of an impact on the EV charging market. In early 2020, purchase incentives rose, particularly in Italy. As a result, electric vehicle sales in Europe increased by 55% in the first half of 2020 when compared to the same period in 2019. Fast chargers are being installed at a quicker rate in Europe than slow chargers. More than 38,000 public fast chargers are readily accessible. As the popularity of electric vehicles (EVs) has grown, so has the infrastructure for charging them on interstate highways, at businesses, and in public parking lots.

Recent Development

BP announced fresh interest in investing £1 billion in electric vehicle charging in the UK in March 2022, speeding up the rollout of fast, accessible charging across the country. The investment will be made over the next ten years to help fulfill the UK's fast-growing demand for EV charging and promote the country's transition to low-carbon mobility for both consumers and fleet vehicles.

The UK's first all-electric car charging station opened near Braintree in Essex in December 2020, marking a significant milestone in the country's move away from fossil fuel-powered automobiles. Gridserve operates the station, which is the first of more than 100 it expects to open over the next five years.

Market Segmentation:

  • By Vehicle Type

Battery Electric Vehicle (BEV)

Plug-in Hybrid Electric Vehicle (PHEV)

Hybrid Electric Vehicle (HEV)

  • By Application

Commercial

Residential

  • By Charging Type

AC Charging (Level 1 and Level 2)

DC Charging

Product Code: KSI061612564

TABLE OF CONTENTS

1. Introduction

  • 1.1. Market Definition
  • 1.2. Market Segmentation

2. Research Methodology

  • 2.1. Research Data
  • 2.2. Assumptions

3. Executive Summary

  • 3.1. Research Highlights

4. Market Dynamics

  • 4.1. Market Drivers
  • 4.2. Market Restraints
  • 4.3. Porters Five Forces Analysis
    • 4.3.1. Bargaining Power of End-Users
    • 4.3.2. Bargaining Power of Buyers
    • 4.3.3. Threat of New Entrants
    • 4.3.4. Threat of Substitutes
    • 4.3.5. Competitive Rivalry in the Industry
  • 4.4. Industry Value Chain Analysis

5. UK Electric Vehicle Charging Stations Market Analysis, by Vehicle type

  • 5.1. Introduction
  • 5.2. Battery Electric Vehicle (BEV)
  • 5.3. Plug-in Hybrid Electric Vehicle (PHEV)
  • 5.4. Hybrid Electric Vehicle (HEV)

6. UK Electric Vehicle Charging Stations Market Analysis, by Application

  • 6.1. Introduction
  • 6.2. Commercial
  • 6.3. Residential

7. UK Electric Vehicle Charging Stations Market Analysis, 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. Emerging Players and Market Lucrativeness
  • 8.3. Mergers, Acquisitions, Agreements, and Collaborations
  • 8.4. Vendor Competitiveness Matrix

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
Have a question?
Picture

Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

Picture

Christine Sirois

Manager - Americas

+1-860-674-8796

Questions? Please give us a call or visit the contact form.
Hi, how can we help?
Contact us!