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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
E-SUV Industry Trends
The rising interest in zero-emission vehicles
The surge in demand for zero-emission electric SUVs reflects worldwide environmental issues. The E-SUV market dynamics and trends are influenced by government incentives and technological progress is driving their popularity, delivering efficient and eco-friendly transport solutions considering stricter environmental regulations and policies.
Growing adoption of sulphide-based batteries in electric SUVs
Sulphide-based batteries are revolutionizing electric SUVs by providing faster charging times and longer driving ranges. These batteries feature higher energy densities, increased durability, and lower maintenance costs, with their adoption in the automotive market further accelerated by the advent of wireless charging technology.
Technological advancements in the market
Technological innovations like IoT sensors and data analytics elevate E-SUV capabilities. Real-time monitoring enhances performance, safety, and connectivity, catering to consumer demands for intelligent, secure, and interconnected electric vehicles at the forefront of automotive evolution.
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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