UK Electric Suv Market Size & Outlook, 2023-2030
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UK electric suv market highlights
- The UK electric suv market generated a revenue of USD 20,743.9 million in 2023 and is expected to reach USD 210,838.3 million by 2030.
- The UK market is expected to grow at a CAGR of 39.3% from 2024 to 2030.
- In terms of segment, compact was the largest revenue generating vehicle type in 2023.
- Mid Size is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
Electric suv market data book summary
| Market revenue in 2023 | USD 20,743.9 million |
| Market revenue in 2030 | USD 210,838.3 million |
| Growth rate | 39.3% (CAGR from 2023 to 2030) |
| Largest segment | Compact |
| Fastest growing segment | Mid Size |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Compact, Mid Size, Full Size |
| Key market players worldwide | Tesla Inc, BYD Company, Hyundai Motor Co, Volkswagen AG, Toyota Motor Corp, Nissan Motor Co Ltd, Kia Corp, Ford Motor Co, General Motors, Honda Motor Co Ltd, Volvo AB ADR |
Other key industry trends
- In terms of revenue, UK accounted for 3.7% of the global electric suv market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany electric suv market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 210,838.3 million by 2030.
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Electric SUV Market Scope
Electric SUV Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Kia Corp | View profile | 35737 | 12 Heolleung-ro, Seocho-gu, Seoul, Korea, Republic of, 06797 | https://www.kia.com |
| BYD Company | View profile | 10001+ | Shenzhen, Guangdong, China, Asia | https://en.byd.com |
| General Motors | View profile | 10001+ | Detroit, Michigan, United States, North America | https://www.gm.com |
| Nissan Motor Co Ltd | View profile | 147116 | 1-1, Takashima 1-chome, Nishi-ku, Yokohama-shi, Kanagawa, Japan, 220-8686 | http://www.nissan-global.com |
| Ford Motor Co | View profile | 177000 | One American Road, Dearborn, MI, United States, 48126 | https://www.ford.com |
| Honda Motor Co Ltd | View profile | 194993 | Number 1-1, Minami-Aoyama 2-chome, Minato-ku, Tokyo, Japan, 107-8556 | https://global.honda |
| Hyundai Motor Co | View profile | 73502 | 12, Heolleung-ro, Seocho-Gu, Seoul, Korea, Republic of | https://www.hyundai.com |
| Volkswagen AG | View profile | 656134 | Berliner Ring 2, Wolfsburg, NI, Germany, 38440 | https://www.volkswagenag.com |
| Tesla Inc | View profile | 140473 | 1 Tesla Road, Austin, TX, United States, 78725 | https://www.tesla.com |
| Toyota Motor Corp | View profile | 380793 | 1 Toyota-cho, Aichi Prefecture, Toyota, Japan, 471-8571 | https://www.global.toyota |
| Volvo AB ADR | View profile | 104905 | Gropegardsgatan 2, Gothenburg, Sweden, 417 15 | https://www.volvogroup.com |
UK electric suv market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric suv market will help companies and investors design strategic landscapes.
Compact was the largest segment with a revenue share of 54.75% in 2023. Horizon Databook has segmented the UK electric suv market based on compact, mid size, full size covering the revenue growth of each sub-segment from 2018 to 2030.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK electric suv market , including forecasts for subscribers. This country databook contains high-level insights into UK electric suv market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK electric suv market size, by vehicle type, 2018-2030 (US$M)
UK Electric SUV Market Outlook Share, 2023 & 2030 (US$M)
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