UK Electric and Hybrid Cars Market Report 2023
£ 2,195 (Excl.Tax)
Description
Stay ahead of the curve and future-proof your business with Mintel’s UK Electric and Hybrid Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest EV and hybrid car market research, trends and consumer behaviours affecting your business. Get a 360° view of the electric and hybrid car market UK, including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- The impact of the cost of living crisis on the electric and hybrid car market UK.
- Trends in demand for particular hybrid and electric technologies.
- Key drivers impacting on the ev and hybrid car market.
- The main channels used for the purchase of hybrid and electric cars.
- Company and brand shares within specific segments of the electric and hybrid car market.
- Consumer interest towards hybrid and electric cars as well as attitudes, preferences and concerns.
Electric and Hybrid Car Market UK: Current Outlook
Sales of electric and hybrid cars will continue to gain ground on vehicles powered solely by petrol or diesel. However, the announcement by the UK Government in September 2023 that a ban on new IC sales would be pushed back from 2030 to 2035 is likely to dilute consumer appetite for B-EVs.
- Electric car market size: Mintel forecasts that the market size and forecast for new electric and car registration will reach 1.8 million units in 2028.
EV and Hybrid Car Market: Challenges and Opportunities
Investment needed in public EV charging
Despite the expansion in the number of charging sites and chargers, Mintel sees further opportunities to expand what is a critical issue for current, and potential, owners of EVs.
- EV and hybrid car market statistics: 67% of Londoners say having off-road parking makes EV ownership more attractive.
Hybrid technology not to be overlooked
The role of hybrid technology shouldn’t be overlooked by manufacturers in the rush towards the full electrification of powertrains. With both on-board and plug-in hybrid technologies able to be offered to buyers, such flexibility is likely to be important in countering current concerns by many about purchasing electric cars.
- Hybrid car market opportunity: 52% of consumers would be interested in purchasing a hybrid vehicle.
Purchase our UK Electric and Hybrid Car Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Car Finance Market Report 2023.
Brands Featured in the Full Report
Toyota, Electreon, Go Eve, Jaguar, Polestar, Nissan, Kia, Ford, Audi, Lexus, Renault, Peugeot, Volvo.
Additional Features Included with Your Purchase
- Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
- Consumer Confidence Tracker: Our Trackers paint the picture of the economic confidence and major concerns of up to 40 different demographics, tracking changes in attitudes over time.
- Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes.
- Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentations.
- Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive catalogue of market research reports.
Expert Insights from a Retail Analyst
This report, written by Neil Mason, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the electric and hybrid car market and add expert context to the numbers.
Despite cost of living concerns, sales of electric and hybrid cars continue to rise helped by lower prices and increased consumer confidence.
Neil Mason
Head of Retail Research
Table of Contents
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- Key issues covered in this Report
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Executive Summary
- Opportunities for the hybrid and electric car market
- Market dynamics and outlook
- Graph 1: hybrid and electric new car registrations, by type, units, 2023 and 2028
- Graph 2: hybrid and electric manufacturer group share (licensed cars), Q2 2021 and Q2 2023
- What consumers want and why
- Innovation and marketing
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Market Dynamics
- Market size
- Graph 3: market size for electric and hybrid cars (new registrations), units, 2018-23
- Graph 4: new car registrations, by type, % of total, 2018 and 2022
- Graph 5: hybrid, plug-in hybrid and battery electric new car registrations, by type, units, 2018 and 2022
- Market forecast
- Market segmentation
- Graph 6: licensed alternative fuelled cars, by type, % of total, 2018 and 2022
- Market share
- Graph 7: electric and hybrid car brand share (licensed cars), Q2 2021 and Q2 2023
- Graph 8: top 10 electric and hybrid model share (licensed cars), Q2 2022 and Q2 2023
- Graph 9: top 10 electric model share (new sales), Q2 2023
- Graph 10: top 10 plug-in hybrid electric model share (new sales), Q2 2023
- Distribution channels
- Graph 11: sales of new and used electric and hybrid cars, by channel, 2018-23
- Macro-economic factors
- Graph 12: unleaded petrol and diesel pump prices, Jan 2020 – Oct 2023
- Graph 13: index of financial confidence in the next year, 2016-23
- Sector-specific factors
- Graph 14: car parc forecast, central scenario, 2020-35
- Graph 15: sales of PH-EV and B-EV models, Q2, 2018-2023
- Graph 16: number of charging locations and connectors, 2018-2023
- Graph 17: connector speed, by type, 2018-2023
- Legislative background
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What Consumers Want and Why
- Vehicle ownership
- Graph 18: vehicle ownership, 2023
- Purchasing a hybrid/electric car
- Graph 19: interest in purchasing a hybrid/electric car, 2023
- Graph 20: interest in purchasing a hybrid/electric car, by location, 2023
- Graph 21: interest in purchasing a hybrid/electric car, by sex and age, 2023
- Graph 22: interest in purchasing a hybrid/electric car, 2020-23
- Graph 23: timescale for purchasing a hybrid/electric car, 2023
- Graph 24: preference between new and used when purchasing a hybrid/electric car, 2023
- Interest in type of hybrid/electric car
- Graph 25: interest in type of hybrid/electric car, by age, 2023
- Graph 26: interest in type of hybrid/electric car, 2021-23
- Charging an electric car
- Graph 27: charging an electric car, 2023
- Graph 28: charging an electric car in a dedicated public space, by age, 2023
- Concerns about going electric
- Graph 29: concerns about owning an electric car, 2023
- Graph 30: concerns about owning an electric car, 65+, 2023
- Attitudes towards hybrid and electric cars
- Graph 31: attitudes towards hybrid and electric cars, 2023
- Graph 32: concerns about journey restrictions and the need to charge, by age, 2023
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Innovation And Marketing Trends
- Launch activity and innovation
- Advertising and marketing activity
- Graph 33: recorded above-the-line, online display and direct mail total advertising expenditure on hybrid and electric cars, 2019-23
- Graph 34: recorded above-the-line, online display and direct mail total advertising expenditure on hybrid and electric cars, by vehicle type, 2023 *
- Graph 35: recorded above-the-line, online display and direct mail total advertising expenditure on hybrid and electric cars, by manufacturer, 2023 *
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Appendix
- Supplementary data
- Market forecast data and methodology
- Report scope and definitions
- Methodology
About the report
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Market
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Consumer
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Brand/Company
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Data
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
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