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UK Automotive Market Report by Type (Passenger Vehicles, Commercial Vehicles, Two Wheelers), Propulsion Type (Gasoline, Diesel, Electric, and Others), Sales Channel (Dealerships, Online Sales, Direct Sales, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A24819
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UK Automotive Market Overview:
The UK automotive market size reached 1025.47 Thousand Units in 2023. Looking forward, IMARC Group expects the market to reach 1777.15 Thousand Units by 2032, exhibiting a growth rate (CAGR) of 5.60% during 2024-2032. The market is driven by the increasing adoption of electric vehicles (EVs) because of advancements in battery technology and charging infrastructure, along with the rising incorporation of connected and autonomous vehicle technology across the country.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023
|
|
Forecast Years
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2024-2032
|
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Historical Years
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2018-2023
|
| Market Size in 2023 | 1025.47 Thousand Units |
| Market Forecast in 2032 | 1777.15 Thousand Units |
| Market Growth Rate 2024-2032 | 5.60% |
UK Automotive Market Trends:
Rising Electrification and Adoption of Electric Vehicles (EVs)
A shift towards electric cars is stimulating the market growth in the UK. As people are becoming more environment-conscious, manufacturers are expanding their EV offerings and investing in new technologies. Battery technology advancements are constantly increasing the range of EVs and shortening charging times, making them more convenient and appealing to a broader range of users. Governing agencies of the country are supporting the transition to EVs with plans to ban the sale of petrol and diesel vehicles by 2035, establishing a firm deadline for change. This policy encourages manufacturers to speed up the development of EV models and invest in emerging technologies.
Moreover, the increasing number of charging stations is improving accessibility and alleviating concerns about battery depletion. Charging stations are strategically located in congested areas, such as shopping malls, offices, and major thoroughfares, allowing drivers to recharge their batteries while going about their daily activities. According to the IMARC Group’s report, the United Kingdom electric vehicle (EV) market is projected to exhibit a growth rate (CAGR) of 27.20% from 2024 to 2032.
Advancements in Connected and Autonomous Vehicle Technology
Connected cars, which include advanced entertainment systems, real-time traffic updates, and vehicle-to-everything (V2X) connectivity, are becoming popular in the UK. The combination of these technologies improves driver safety, enhances route planning, and offers a range of digital services for convenience. Companies are also investing in autonomous vehicle research and development (R&D) activities about self-driving technology. This can improve road safety, reduce traffic congestion, and introduce innovative mobility solutions. Innovations in artificial intelligence (AI) and machine learning (ML) are driving these advancements, resulting in increasing interest and investments from automotive companies.
Furthermore, the Automated Vehicles (AV) Act passed by governing agencies of the country in May 2024 is a key step towards the implementation of self-driving cars. The AV Act will enable self-driving vehicles to operate on British roads by 2026, putting the country at the forefront of self-driving technology. This will also create the potential for an industry worth up to £42 billion, with an additional 38,000 skilled jobs expected by 2035.
UK Automotive Market News:
- September 2024: Chinese car manufacturer Chery is considering expanding its UK operations to include a design or R&D center, capitalizing on the country's expertise in automotive design and development.
- May 2024: Wayve, one of the leading AI companies in the UK, secured a historic $1.05 billion investment to develop next-generation AI-powered self-driving vehicles, backed by SoftBank Group, NVIDIA, and Microsoft.
UK Automotive Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, propulsion type, and sales channel.
Type Insights:
- Passenger Vehicles
- Commercial Vehicles
- Two Wheelers
The report has provided a detailed breakup and analysis of the market based on the type. This includes passenger vehicles, commercial vehicles, and two wheelers.
Propulsion Type Insights:
- Gasoline
- Diesel
- Electric
- Others
A detailed breakup and analysis of the market based on the propulsion type have also been provided in the report. This includes gasoline, diesel, electric, and others.
Sales Channel Insights:
- Dealerships
- Online Sales
- Direct Sales
- Others
The report has provided a detailed breakup and analysis of the market based on the sales channel. This includes dealerships, online sales, direct sales, and others.
Regional Insights:
- London
- South East
- North West
- East of England
- South West
- Scotland
- West Midlands
- Yorkshire and The Humber
- East Midlands
- Others
The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
UK Automotive Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Thousand Units |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Types Covered | Passenger Vehicles, Commercial Vehicles, Two Wheelers |
| Propulsion Types Covered | Gasoline, Diesel, Electric, Others |
| Sales Channels Covered | Dealerships, Online Sales, Direct Sales, Others |
| Regions Covered | London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, Others |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the UK automotive market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the UK automotive market?
- What is the breakup of the UK automotive market on the basis of type?
- What is the breakup of the UK automotive market on the basis of propulsion type?
- What is the breakup of the UK automotive market on the basis of sales channel?
- What are the various stages in the value chain of the UK automotive market?
- What are the key driving factors and challenges in the UK automotive?
- What is the structure of the UK automotive market and who are the key players?
- What is the degree of competition in the UK automotive market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK automotive market from 2018-2032
- The research report provides the latest information on the market drivers, challenges, and opportunities in the UK automotive market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK automotive industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
Need more help?
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