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Redding, California - July 16, 2024

e-SUVs Market to be Worth $914.2 Billion by 2031

e-SUVs Market Size, Share, Forecast, & Trends Analysis by Propulsion (Battery Electric SUV, Hybrid SUV), Size (Compact SUV, Mid-Size SUV, Full-Size SUV), Power Output (Less Than 150 KW, 150 KW to 250 KW, more than 250 KW), Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘e-SUVs Market by Propulsion (Battery Electric SUV, Hybrid SUV), Size (Compact SUV, Mid-Size SUV, Full-Size SUV), Power Output (Less Than 150 KW, 150 KW to 250 KW, more than 250 KW), Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the e-SUVs market is projected to reach $914.2 billion by 2031, at a CAGR of 16.2% from 2024 to 2031. The growth of the e-SUVs market is driven by the global adoption and development of small and compact e-SUVs, government policies & regulations that support the industry, and stringent emission and fuel economy standards. In addition, the increasing investment in e-SUVs by prominent automotive OEMs is expected to provide opportunities for market growth. However, the high prices of e-SUVs may restrain the market growth. Also, the absence of charging infrastructure in developing countries poses a challenge to market growth.

The e-SUVs market is segmented by propulsion type, size, and power output. This study evaluates industry competitors and analyzes the regional and country-level markets.

Based on propulsion type, the e-SUVs market is segmented into battery-electric SUVs and hybrid SUVs. In 2024, the battery-electric SUVs segment is expected to account for the largest share of over 64% of the global e-SUVs market. The large market share of this segment is attributed to increasing stringent automotive emission regulations across the world, consumer demand for high fuel-efficient vehicles, the global shift towards eco-friendly transportation solutions, and increasing installation of charging infrastructure.

However, the hybrid SUVs segment is expected to record the highest CAGR during the forecast period. The growth of this segment is driven by increasing investments by automotive OEMs for hybridization of vehicle powertrains, better fuel efficiency, lower running costs in comparison to diesel or petrol-running vehicles, reduced emissions, and improved performance.

Based on size, the e-SUVs market is segmented into compact SUVs, mid-size SUVs, and full-size SUVs. In 2024, the mid-size SUVs segment is expected to account for the largest share of over 42% of the global e-SUVs market. A mid-size SUV is a vehicle that falls in the middle of a compact SUV and a full-size SUV. The large share of this segment is due to their better handling, higher fuel efficiency, and more suitable for city driving and parking than full-size SUVs.

However, the compact SUVs segment is expected to record the highest CAGR during the forecast period. The growth in this segment is due to a host of factors such as fuel efficiency, versatility, comfortable interior with advanced safety features, rising consumer preference toward compact SUVs, and the growing focus of automotive manufacturers to launch compact electric SUVs with advanced capabilities.

Based on power output, the e-SUVs market is segmented into Less Than 150 KW, 150 KW to 250 KW, and More than 250 KW. In 2024, the 150 KW to 250 KW segment is expected to account for the largest share of over 53% of the global e-SUVs market. The large market share of this segment is attributed to the increasing adoption of electric SUVs, increasing investments by government authorities in the development of EV charging infrastructure, and favorable policies, incentives, and subsidies introduced by several state governments.

However, the 150 KW to 250 KW segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly driven by key players’ increasing focus on the development of e-SUVs with power capacities between 150 KW to 250 KW.

Based on geography, the e-SUVs market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 56% of the e-SUVs market. The large share of this region is attributed to government subsidies, tax incentives, and regulations to support the development and adoption of EVs, rising focus to reduce greenhouse gas emissions, growing demand for automobiles, and rising consumer preference for fuel-efficient mobility solutions.

Moreover, Asia-Pacific is expected to record the highest CAGR of over 19% during the forecast period. The growth of this market is driven by the increasing number of initiatives and investments made to support the infrastructure for charging electric vehicles, as well as growing attention given by major players to technological improvements in new products and the expansion of production capacity.

Key Players:

The key players operating in the e-SUVs market are Tesla Inc. (U.S.), Toyota Motor Corporation (Japan), Honda Motor Co., Ltd. (Japan), BYD Company Ltd. (China), Ford Motor Company (U.S.), Hyundai Motor Company (South Korea), Mercedes-Benz (Germany), Nissan Motor Corporation (Japan), Volkswagen AG (Germany), AB Volvo (Sweden), Kia Corporation (South Korea), and BMW (Germany).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5958

Key Questions Answered in the Report:

Which are the high-growth market segments based on propulsion type, size, and power output?
What was the historical market for e-SUVs?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the e-SUVs market?
Who are the major players, and what shares do they hold in the e-SUVs market?
What is the competitive landscape in the e-SUVs market?
What are the recent developments in the e-SUVs market?
What are the different strategies adopted by the major players in the e-SUVs market?
What are the important geographic trends, and which are the fastest-growing countries?
Who are the local emerging players in the global e-SUVs market, and how do they compete with existing players?

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Redding, California - July 16, 2024

e-SUVs Market to be Worth $914.2 Billion by 2031

e-SUVs Market Size, Share, Forecast, & Trends Analysis by Propulsion (Battery Electric SUV, Hybrid SUV), Size (Compact SUV, Mid-Size SUV, Full-Size SUV), Power Output (Less Than 150 KW, 150 KW to 250 KW, more than 250 KW), Geography - Global Forecast to 2031

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