UK Electric Vehicle Charging Stations Market Size, Share, Opportunities, And Trends By Vehicle Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV)), By Application (Commercial, Residential), And By Charging Type (AC Charging (Level 1 And Level 2), DC Charging) - Forecasts From 2024 To 2029

The UK electric vehicle charging stations market is anticipated to expand at a CAGR of 19.52% to attain US$1,621.717 million by 2029 from US$664.988 million in 2024.

An EV (electric vehicle) charging station is a hub or center that offers charging solutions for these vehicles. This station links an EV to a power source, allowing electric vehicles, like passenger cars, two/three-wheel EVs, fleets, and electric transport vehicles, to charge their batteries. The EV charging station market is expected to experience significant growth in the UK. This is primarily due to the increasing ownership of electric vehicles and the introduction of new policies and investment plans to enhance the nation's EV infrastructure. Introducing new technologies, like self-driving, and the sustainability offered by such vehicles also propels this market’s growth.

UK Electric Vehicle Charging Stations Market Drivers:

• The increasing sales of electric vehicles.

The increasing demand and popularity of electric vehicles over conventional, petrol, or diesel engines in the United Kingdom is forecasted to propel its EV charging station market forward. In the past few years, the UK’s new vehicle market observed a massive shift towards the demand for EVs. With the increase in the nation’s electric vehicle sales, the development of the EV charging station will necessitate growing the market forward.

The Society of Motor Manufacturers and Traders Limited (SMMTL), the largest trade association in the United Kingdom, stated that in August 2024, the total new registration of battery electric vehicles (BEVs) in the country was 19,113 units. This figure shows a 10.8% increase from August 2023, when the total new registration of BEVs in the nation was recorded at 17,243. Similarly, the year-to-date (YTD) BEV sales till August 2023 were 193,221 units, which expanded by about 10.5% in 2024, reaching 213,544 units.

The organization further stated that in August 2023, BEVs held about 20.1% of the total new car market share in the United Kingdom, with petrol and diesel vehicles holding 55.7% and 6.5% market shares, respectively. The market share of BEVs in 2024 grew to 22.6%, with a decrease in the market share for petrol and diesel vehicles, which was recorded at 50.7% and 6.1%, respectively.

• Favorable government policies towards EV infrastructure

The UK EV charging station market is expected to expand with the introduction of new policies and government investments to develop the country’s EV infrastructure. The government introduced multiple policies and subsidies to propel the nation's EV infrastructure growth. For instance, in March 2022, the government of the United Kingdom introduced new plans to support the building of 300,000 public EV charge points by 2030.

UK Electric Vehicle Charging Stations Market Products Offered by Key Companies:

• BP Pulse is the sustainable energy subsidiary of the multinational corporation BP p.l.c., which offers public and business EV charging solutions. The company offers fast, rapid, ultra-fast charging plugs across several ultra-convenient locations in the United Kingdom.
• ChargePoint is an E-mobility solution provider founded in 2007. The company offers multiple solutions, such as software, services, hardware, and charging stations, for businesses, fleets, and private drivers.

UK Electric Vehicle Charging Stations Market Key Developments:

• In July 2024, a global corporation that provides sustainable energy solutions announced that the company has officially opened the most powerful EV charging hub in Scotland. The Myrekirk Roundabout site opened in Dundee, Scotland, features 24 ultra-rapid charging bays, which offer a total capacity output of about 2 and a half megawatts. In this hub, 8 out of the 24 bays feature an output of 360 kW, whereas the remaining 16 bays feature 150 kW power output.
• In April 2024, GRIDSERVE announced that the company had begun the construction of Markham Vale Electric Forecourt, which will provide a state-of-the-art EV charging facility. This charging hub will deliver vital charging solutions, especially for those traveling up and down the M1.

UK Electric Vehicle Charging Stations Market is segmented and analyzed as follows:

• By Vehicle Type
  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
• By Application
  • Commercial
  • Residential
• By Charging Type
  • AC Charging (Level 1 and Level 2)
  • DC Charging