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 2023 To 2028

The UK electric vehicle charging stations market is expected to grow at a CAGR of 19.35% from an initial value of US$394.018 million in 2021 to US$ 1,358.779 million in 2028.

A charging station for EVs (electric vehicles) is a device that links an EV to a power source, allowing electric cars, neighborhood EVS, and plug-in hybrids to be charged. The market is expected to grow in the UK due to favorable government policies and the increasing ownership of electric vehicles.

Growth drivers of the market

As per the Department of Transport report published on July 2023, there has been a significant increase in the number of electric vehicle public charging devices in the United Kingdom which increased from 28,375 in January 2022 to 44,020 in July 2023, leading to the increase in electric vehicle charging stations in the nation.

 Developments in the country concerning the establishment and investments by various market players are expected to substantially boost the demand. For instance, by 2030, the members of ChargeUK have together said that they would invest more than 6 billion pounds ($7.5 billion) in building and running new EV charging infrastructure. Furthermore, in December 2022, an exclusive contract for bp pulse was made to add high-speed electric vehicle (EV) charge stations to over 70 M&S shops, expanding its national charging network. With an initial goal to construct up to 900 bp pulse charge stations, the first test sites are currently operational at M&S Maidstone Eclipse and Southgate. The business will invest £1 billion in UK EV charging infrastructure by 2030 as part of M&S's aspirations to create a retail estate fit for the future and make it simpler for consumers to live a lower-carbon lifestyle.

Favorable government policies

The UK government has committed to reducing greenhouse gas emissions by 28% by 2035 and achieving a Net Zero by 2050. According to the government, transport, particularly cars, is the largest source of emissions, accounting for about 27%. Thus, transitioning from petrol and diesel cars to EVs is the key to reducing emissions and meeting Net Zero. Reflecting this, the government has committed to ending the sale of new petrol and diesel cars/vans from 2030. This has also boosted EV sales in the country, which is expected to augment domestic market growth.

According to a report published by the UK Government, by 2025, smart charging is intended to be the preferred way for long-term charging. The government also announced that it plans to allocate £16 million from the Net Zero Innovation Portfolio (NZIP) to projects that will enable domestic appliances, such as heat pumps and batteries to integrate into a smarter energy system. These projects include a smart street lamppost that will allow drivers to access smart charging while on the go.

£229,000 will go towards a project run by Otaski Energy Solutions (Gateshead, Tyne, and Wear) to create a smart public light that can re-direct electricity to the grid and charge electric cars. Additionally, EV Dot Energy Ltd. awarded £220,000 to the V2X-Flex (Reigate, Surrey) project to create prototype software and a new business model that would lower obstacles for the household usage of V2X bi-directional chargers to deliver energy flexibility services. In addition, £165,000 was allocated to BEVScanV2X (London), a project run by Agile Charging Ltd. that aims to create technology to prevent battery deterioration by building a tool that is reasonably priced to monitor and offer advice on how to extend battery life and reap financial benefits from smart charging which will then be installed in EV charging stations.

Widespread adoption of Battery Electric Vehicles (BEVS)

BEVs' widespread adoption leads to an increased demand for charging stations. Government initiatives play a crucial role in promoting growth, with plans to enforce clean vehicle sales targets starting in 2024. The UK electric vehicle infrastructure strategy in 2022 revealed Bentley, Rolls Royce, and others committing to a zero-emission future from 2030, accompanied by over Euro 3 billion investment in the UK's zero-emission vehicle sector. In 2021, 190,000 battery-powered EVs were sold in the UK, more than five times the total of previous years and accounting for nearly 1 in 8 of all new car sales, making electric vehicles the most feasible choice. These devices store and deliver energy efficiently through discharge and charging processes.

Introduction of a World Class Infrastructure

The United Kingdom recognizes that a focus on battery electric vehicles is only half of the challenge and a world-class charging infrastructure for these vehicles is absolutely fundamental in delivering net zero road transport. Electric vehicle charging should be cheaper and more convenient than refueling at a petrol station.

Furthermore, the cumulative number of publicly available slow charging points for BEVs increased from 11,000 in 2016 to 42,000 in 2022, showcasing a substantial expansion. Additionally, the cumulative number of fast-charging points for BEVs grew from 1,800 in 2016 to 8,600 in 2022, signifying significant development in fast-charging infrastructure to cater to the growing demand for BEVs. This substantial rise in charging infrastructure reflects the increasing popularity and adoption of Battery Electric Vehicles (BEVs) in the UK, aligning with the country's efforts to promote sustainable transportation and reduce greenhouse gas emissions.

Key Market Developments

• In June 2021, Nissan announced its plans to invest GBP 423 million in its Sunderland plant in England to produce an all-electric, new-generation vehicle.
• In February 2023, Swarco Smart Charging, a unit of the traffic technology firm that specializes in the creation of EV charging infrastructure, launched PoGo. In the United Kingdom, the company has set up more than 12,000 charging stations, both residential and commercial, leading to market growth.
• In 2022, Shell announced that it would be investing £250 million in the UK electric vehicle charging network over the next five years. This investment will be used to install 50,000 new charging points across the UK.
• In 2022, IONITY announced that it would be opening its first UK high-power charging hub in Birmingham. The hub will have 12 charging points, each capable of delivering up to 350kW of power. This symbiotic relationship between the private sector and the EV charging ecosystem has played a crucial part in expediting the widespread adoption of BEVs in the UK.

UK Electric Vehicle Charging Stations Market Scope:

Segmentation:

• 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