UK Off-highway Electric Vehicle Market Size & Outlook

The off-highway electric vehicle market in UK is expected to reach a projected revenue of US$ 407.0 million by 2030. A compound annual growth rate of 14.9% is expected of UK off-highway electric vehicle market from 2024 to 2030.
Revenue, 2023 (US$M)
$153.5
Forecast, 2030 (US$M)
$407.0
CAGR, 2024 - 2030
14.9%
Report Coverage
UK

UK off-highway electric vehicle market highlights

  • The UK off-highway electric vehicle market generated a revenue of USD 153.5 million in 2023 and is expected to reach USD 407.0 million by 2030.
  • The UK market is expected to grow at a CAGR of 14.9% from 2024 to 2030.
  • In terms of segment, bev was the largest revenue generating propulsion in 2023.
  • BEV is the most lucrative propulsion segment registering the fastest growth during the forecast period.


Off-highway electric vehicle market data book summary

Market revenue in 2023USD 153.5 million
Market revenue in 2030USD 407.0 million
Growth rate14.9% (CAGR from 2023 to 2030)
Largest segmentBev
Fastest growing segmentBEV
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationBEV, HEV
Key market players worldwideCaterpillar Inc, Volvo AB ADR, Komatsu Ltd, Deere & Co, Sandvik AB, Hitachi Construction Machinery Co Ltd, Epiroc AB DR, Doosan Fuel Cell Ordinary Shares, CNH Industrial NV, JCB


Other key industry trends

  • In terms of revenue, UK accounted for 6.7% of the global off-highway electric vehicle market in 2023.
  • Country-wise, China is expected to lead the global market in terms of revenue in 2030.
  • In Europe, Germany off-highway electric vehicle market is projected to lead the regional market in terms of revenue in 2030.
  • Germany is the fastest growing regional market in Europe and is projected to reach USD 514.9 million by 2030.

No credit card required*

Horizon in a snapshot

  • 30K+ Global Market Reports
  • 120K+ Country Reports
  • 1.2M+ Market Statistics
  • 200K+ Company Profiles
  • Industry insights and more

Off-highway Electric Vehicle Market Scope

Off-highway Electric Vehicle Market Companies

Name Profile # Employees HQ Website

UK off-highway electric vehicle 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 off-highway electric vehicle market will help companies and investors design strategic landscapes.


Bev was the largest segment with a revenue share of 50.23% in 2023. Horizon Databook has segmented the UK off-highway electric vehicle market based on bev, hev covering the revenue growth of each sub-segment from 2018 to 2030.


The U.K.'s commitment to a zero-emission future for all new cars by 2035 is creating significant opportunities for the off-highway electric vehicle market.

Various government mandates related to this shift not only offer clarity to manufacturers but also emphasize a sustainable approach toward achieving net-zero emissions.

The increasing emphasis on electric vehicles, supported by a growing charging infrastructure, which witnessed a substantial 43% surge in 2023 as compared to 2022, bodes well for the U.K. off-highway electric vehicles.

Reasons to subscribe to UK off-highway electric vehicle market databook:

  • Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
  • Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
  • Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
  • Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
  • Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.

Target buyers of UK off-highway electric vehicle market databook

  • Our clientele includes a mix of off-highway electric vehicle market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
  • The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.

Horizon Databook provides a detailed overview of country-level data and insights on the UK off-highway electric vehicle market , including forecasts for subscribers. This country databook contains high-level insights into UK off-highway electric vehicle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

Partial client list

  • logo

UK off highway electric vehicle market size, by propulsion, 2018-2030 (US$M)

UK Off-highway Electric Vehicle Market Outlook Share, 2023 & 2030 (US$M)

UK off highway electric vehicle market size, by propulsion, 2018-2030 (US$M)

Sign up - it's easy, and free!

Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our free plan indefinitely.

Explore all plans

Included in Horizon account

  • 30K+ Global Market Reports
  • 120K+ Country Reports
  • 1.2M+ Market Statistics
  • 200K+ Company Profiles
  • Industry insights and more