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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global E-SUV Market Share
Battery electric vehicles (BEVs) dominate the global E-SUV market, credits to a wide range of battery-powered SUV models. Manufacturers are incorporating advanced technologies such as ultra-fast charging and vehicle-to-grid systems to extend battery life and driving range. BEVs operate more quietly than traditional SUVs due to the absence of an internal combustion engine and simpler drivetrains, which reduces noise pollution and enhances driving convenience boosting the E-SUV market expansion.
As per the E-SUV industry analysis, government subsidies and tax incentives are boosting consumer adoption, driving rapid growth in the segment. Additionally, major automakers are ramping up their investments in BEV technology to stay competitive.
E-SUV Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 131.17 billion in 2023.
The market is projected to grow at a CAGR of 24.7% between 2024 and 2032.
The revenue generated from the E-SUV market is expected to reach USD 956.41 billion in 2032.
The major market drivers are growing environmental concerns, an increase in demand for compact-sized electric SUVs, and surge in fuel prices.
The key trends of the market include the rising popularity of zero-emission vehicles, increasing adoption of fast-charging or long-lasting batteries, and integration of advanced technologies in EVs, such as the Internet of Things (IoT), smart sensors, and advanced data analytics.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Based on the propulsion, the market is divided into battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs).
The market key players are Hyundai Motor Company, Audi AG, BMW AG, Mercedes-Benz AG, Ford Motor Company, Renault S.A.S, Tesla, Inc., Volkswagen AG, Volvo Group, and Tata Motors Limited, among others.
The market is categorised according to the type, which includes crossover, mid-size, full size and compact.
Based on the searing capacity, the market is divided into 5-seater, 6-seater and above.
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