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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global E-SUV Market Size
The global E-SUV market value was around USD 131.17 billion in 2023. The market is projected to grow at a CAGR of 24.7% between 2024 and 2032 to reach a value of around USD 956.41 billion by 2032.
| Global E-SUV Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 131.17 |
| Market Size 2032 | USD Billion | 956.41 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 24.7% |
| CAGR 2024-2032 - Market by Region | North America | 28.5% |
| CAGR 2024-2032 - Market by Country | USA | 29.3% |
| CAGR 2024-2032 - Market by Country | UK | 27.0% |
| CAGR 2024-2032 - Market by Type | Compact | 27.2% |
| CAGR 2024-2032 - Market by Propulsion | Battery Electric Vehicles (BEVs) | 27.7% |
| Market Share by Country 2023 | UK | 4.7% |
Global E-SUV Market Outlook
- France intends to invest €2.5 billion by 2030 to produce around two million electric and hybrid vehicles, reports IEA.
- Electric vehicle purchases in Australia rose 86% in 2022, comprising 3.8% of new car sales, states the Electric Vehicle Council.
- South Korea targets 4.5 million electric vehicles in its transportation sector by 2030, per the International Energy Agency HEV (IEAHEV).
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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