Transport ‘revolution’ worth £28bn to the UK by 2035September 8, 2017
The key findings of a study published yesterday by the Transport Systems Catapult (TSC), estimates the market for Connected and Autonomous Vehicles (CAVs) in the UK at £28bn in 2035, capturing 3% of the £907bn global market.
The research, led by Element Energy with support from Cambridge Econometrics, estimated the size of the global CAV market and considered the UK’s ability to capture supply chains for CAVs and their associated technologies, under different CAV-uptake scenarios.
The report estimates that:
- In the UK, connected and autonomous vehicles in which the vehicle can perform the dynamic driving task could account for 31% of total annual sales by 2035, equating to vehicle sales of 1.1 million CAVs (including cars, vans, HGVs and buses).
- Global CAV sales could be at 25% of total sales by 2035 (32.2m vehicles).
- UK jobs in the manufacture and assembly of CAVs could reach 6,400 people in 2020 and 27,400 by 2035.
- There would be 6,000 net additional direct jobs in the production of CAV technologies in the UK by 2035, with a further 3,900 indirect jobs created in the supply chain for these technologies.
Understanding the impact of autonomous vehicles on transport and decarbonisation
The TSC study focuses on estimating the size of the CAV market, and on the potential for the UK to capture the supply chains for CAVs and CAV technologies. However, the transition to increasingly connected and autonomous vehicles has the potential to transform the whole transport sector, including raising potential challenges and opportunities for transport decarbonisation.
Alongside our knowledge of CAVs and CAV technologies, Element Energy has extensive experience in identifying opportunities and business models for low emission vehicles and their refuelling/recharging infrastructure. This enables us to provide insights into the potential impacts of the transition to connected and autonomous vehicles on the wider transport system, and to define strategies to maximise the decarbonisation potential of connected and autonomous vehicles.
If you would like more information about the services Element Energy can offer in this area, please contact Celine Cluzel.This entry was posted in Transport. Bookmark the permalink.