UK EV Battery Pack Market Size

UK EV Battery Pack Market Analysis

The UK EV Battery Pack Market size is estimated at 1.27 billion USD in 2024, and is expected to reach 1.15 billion USD by 2029, growing at a CAGR of -1.97% during the forecast period (2024-2029).

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1.27 Billion

Market Size in 2024 (USD)

1.15 Billion

Market Size in 2029 (USD)

15.97 %

CAGR (2018-2023)

-1.97 %

CAGR (2024-2029)

Largest Segment by Body Type

91.79 %

value share, Passenger Car, 2023

UK government and OEM's focus on promoting electric vehicle adoption and developing charging infrastructure further drive the growth of passenger EV in the region.

Largest Segment by Propulsion Type

99.94 %

value share, BEV, 2023

BEV dominates the UK electric vehicle battery pack market and is driven by the low operating cost, longer range, and other environmental benefits.

Largest Segment by Battery Chemistry

62.52 %

value share, NMC, 2023

NMC chemistry dominates UK's electric vehicle battery pack market, offering high energy density and improved performance for sustainable transportation.

Largest Segment by Battery Form

57.42 %

value share, Prismatic, 2023

It dominates the UK EV market due to its adaptability in use in buses, lorries, and LCVs, as well as its good performance in terms of energy density and discharge time.

Leading Market Player

7.65 %

market share, Contemporary Amperex Technology Co. Ltd. (CATL), 2022

CATL is the market leader in the UK EV battery pack industry due to its strong focus on R&D and significant investment in innovative battery technology.

The United Kingdom's strategy to phase out petrol and diesel cars is driving investments in electric car and battery technologies

UK EV Battery Pack Industry Segmentation

Bus, LCV, M&HDT, Passenger Car are covered as segments by Body Type. BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type.

• The adoption of EV battery packs in the United Kingdom has grown significantly in recent years. From 2017 to 2022, the total production of electric vehicles in the country increased, with more than 350,000 EVs produced in 2021 alone. This rise in production was due to various factors, including increased government incentives and regulations on emissions and the development of more advanced and cost-effective battery technologies.
• To encourage the adoption of electric vehicles, the UK government has implemented several incentive programs, such as the Plug-in Car Grant, which provides a discount on the purchase price of eligible vehicles. The amount of the grant varies depending on the type of vehicle. However, it can cover up to 35% of the cost, up to a maximum of GBP 2,500. Another incentive program is the Electric Vehicle Homecharge Scheme, which provides funding for the installation of home charging points. The scheme covers up to 75% of the cost of the installation, up to a maximum of GBP 350. Such initiatives may boost EV growth in the United Kingdom.
• The UK government has set ambitious targets for the phase-out of new petrol and diesel car sales by 2030, with all new vehicles required to be zero-emission by 2035. This strategy has encouraged automakers to invest in electric car and battery technology research. In addition, the United Kingdom is investing in domestic battery manufacturing, which is critical to ensuring a sustainable and safe supply chain for electric vehicle batteries. Britishvolt, a UK-based battery producer, is constructing the country's first gigafactory in Northumberland, with manufacturing initially set to begin in 2023. The country is also working with other countries to enhance electric vehicle technologies.