Meticulous Research®, a notable global market research firm, has recently released a comprehensive 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.”

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This report reveals that the e-SUVs market is anticipated to reach $914.2 billion by 2031, growing at a CAGR of 16.2% from 2024 to 2031. The market's growth is attributed to the global adoption and innovation of small and compact e-SUVs, supportive government policies, and strict emission and fuel economy regulations. Furthermore, increasing investments in e-SUVs from major automotive OEMs are expected to generate further opportunities for market growth. However, the high prices of e-SUVs may inhibit market progress. Additionally, the absence of adequate charging infrastructure in developing regions poses a challenge.

The e-SUVs market is segmented based on propulsion type, size, and power output, allowing for a comprehensive evaluation of industry competitors and regional markets.

Propulsion type segmentation reveals two categories: battery-electric SUVs and hybrid SUVs. In 2024, the battery-electric SUVs segment is expected to represent over 64% of the global e-SUVs market share. This segment's large share is attributed to the enforcement of stringent automotive emission regulations, growing consumer demand for fuel-efficient vehicles, a global shift towards eco-friendly transportation solutions, and the increased installation of charging infrastructure.

Conversely, the hybrid SUVs segment is expected to showcase the highest CAGR during the forecast period. This growth is largely due to heightened investments by automotive OEMs in hybrid powertrain technologies, enhanced fuel efficiency, reduced operational costs compared to traditional fuel vehicles, and improved performance.

In terms of size, the e-SUVs market is segmented into compact SUVs, mid-size SUVs, and full-size SUVs. By 2024, mid-size SUVs are expected to hold over 42% of the total market share. Mid-size SUVs are preferred for their balance between compact and full-size features, offering better handling, higher fuel efficiency, and increased convenience for urban driving and parking.

However, the compact SUVs segment is projected to experience the highest CAGR during the forecast period, driven by factors such as fuel efficiency, versatility, advanced safety features, increasing consumer preference for compact SUVs, and automotive manufacturers' focus on launching compact electric SUVs with advanced technologies.

Power output segmentation includes categories: Less Than 150 KW, 150 KW to 250 KW, and More Than 250 KW. In 2024, the 150 KW to 250 KW segment is projected to hold more than 53% of the e-SUVs market share. This large market share is attributed to the rising adoption of electric SUVs, increased governmental investment in EV charging infrastructure, and supportive policies, incentives, and subsidies provided by various state authorities.

However, the 150 KW to 250 KW segment is anticipated to grow at the highest CAGR during the forecast period, driven by key players' focus on developing e-SUVs with power outputs within this range.

Geographically, the e-SUVs market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. By 2024, Asia-Pacific is expected to dominate, accounting for over 56% of the e-SUVs market share. This significant share is attributed to governmental subsidies, tax incentives, and regulations promoting EV development, along with rising consumer demand for fuel-efficient mobility solutions and initiatives aimed at reducing greenhouse gas emissions.

Furthermore, Asia-Pacific is expected to record the highest CAGR of over 19% during the forecast period, driven by initiatives to bolster charging infrastructure and increasing focus on technological advancements and expansion of production capacity by key players.

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).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/e-suvs-market-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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