Meticulous Research® , a prominent global market research organization, has 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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According to the latest findings, the e-SUVs market is expected to reach $914.2 billion by 2031 , exhibiting a CAGR of 16.2% from 2024 to 2031 . The growth in this market is fueled by the global adoption and development of small and compact e-SUVs , government policies supporting the industry, and stringent emission and fuel economy standards. Additionally, increasing investments in e-SUVs from leading automotive OEMs are anticipated to provide significant opportunities for market growth. However, the high costs associated with e-SUVs may hinder this growth. Moreover, the lack of charging infrastructure in developing regions poses a challenge to market expansion.

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

Based on propulsion type , the e-SUVs market is divided into battery-electric SUVs and hybrid SUVs . In 2024 , the battery-electric SUVs segment is projected to capture the largest share, accounting for over 64% of the global e-SUVs market. This significant market share is attributed to increasing enforcement of stringent automotive emission regulations , growing consumer demand for fuel-efficient vehicles, a global shift towards eco-friendly transportation solutions , and the enhancement of charging infrastructure .

However, the hybrid SUVs segment is expected to record the highest CAGR throughout the forecast period. The growth of this segment is primarily driven by heightened investments by automotive OEMs in hybrid technologies, improved fuel efficiency, lower operational costs compared to traditional vehicles, and enhanced performance.

In terms of size , the e-SUVs market is categorized into compact SUVs , mid-size SUVs , and full-size SUVs . By 2024 , the mid-size SUVs segment is projected to account for over 42% of the global e-SUVs market. Mid-size SUVs, which are positioned between compact and full-size options, are favored for their superior handling, fuel efficiency, and suitability for urban driving and parking.

However, the compact SUVs segment is expected to witness the highest CAGR during the forecast period, driven by multiple factors such as improved fuel efficiency, versatility, advanced safety features, and an increasing consumer preference for compact SUVs.

In terms of 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 anticipated to account for over 53% of the total market. This large market share is attributed to the increasing adoption of electric SUVs, rising investments by government authorities in EV charging infrastructure , and favorable policies, incentives, and subsidies introduced by various state governments.

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

Geographically , 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 dominate, accounting for over 56% of the e-SUVs market share. This significant share is attributed to government subsidies, tax incentives, and regulations supporting the development of EVs , alongside a rising demand for fuel-efficient mobility solutions and efforts to reduce greenhouse gas emissions .

Moreover, Asia-Pacific is projected to achieve the highest CAGR of over 19% during the forecast period, driven by ongoing efforts to improve charging infrastructure and an increasing focus on technological advancements and production capacity expansions by major 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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