United States E-SUV Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2025-2034)

United States E-SUV Market Growth

The sale of all new light-duty EVs in the United States reached around 1.4 million units in 2023. This was a year-on-year growth of nearly 1 million units while accounting for a share of 9% in total sales of all new vehicles. Many American states which have implemented California’s Zero Emission Vehicle (ZEV) policy, such as Washington, and Oregon, have reported substantial sales of EVs, where total EVs account for over 12% of all new vehicle purchases. Besides, all ZEV states also have 780 chargers per one million residents, while non-ZEV states have 320. The increasing appeal for stylish automobiles that ensure a safe and high-tech riding experience is expected to drive the market expansion in the forecast period.

In 2022, the average duration of an SUV drive was nearly 23.4 minutes. In 2022, nearly 255 million American drivers made nearly 227 billion road trips, spent over 90 billion hours travelling, and drove for nearly 2.8 trillion miles. Early morning hours (3 AM-7 AM) reported the highest duration, as compared to other times of the day. The widespread adoption of SUVs is expected to bolster road safety for vehicle owners and reduce the risk of road accidents. As per the National Center for Statistics and Analysis, the number of road fatalities declined slightly by 0.3% in 2022. With the shift towards sustainability, the adoption of e-SUVs is expected to soar significantly in the coming years.

Key Trends and Developments

United States E-SUV Market Trends

In September 2023, a study conducted by researchers at Northwestern University suggested that by electrification of 30% of EVs in the Great Lakes region, the government can save over 1,000 lives and reduce excess healthcare expenditure by $10 billion. The resultant increases in ozone levels are offset by the reductions in the level of nitrogen dioxide and other volatile organic compounds, which is expected to lead to the implementation of new EV adoption rules.

United States Industry Segmentation

United States E-SUV Market Share

Based on region, the market is segmented into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West. The Great Lakes dominated the market, representing 13.2% of the overall market share in 2023. Over the forecast period of 2024-2032, Southeast is expected to grow at a CAGR of 15.5% as a result of increasing government initiatives to ramp up charging infrastructure facilities.

Leading Companies in the United States E-SUV Market

Major market players are expected to invest in improving e-SUV battery technology to provide consumers with the convenience of faster charging time and improved range.

Tesla Inc.

Tesla Inc. is an American MNC that was formed in 2003 and is based in Texas. It produces luxury passenger EVs and innovative clean energy goods to decarbonise the transportation sector worldwide.

BMW AG

BMW AG is headquartered in Munich (Germany) and was founded in 1916. It is a leading manufacturer of high-end ...

Volkswagen AG

Volkswagen AG is headquartered in Wolfsburg (Germany) and was founded in 1937. It is a leading producer of aut...

Mercedes-Benz Group AG

Mercedes-Benz Group AG is based in Stuttgart (Germany)and was founded in 1926. It produces luxurious commercia...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other major market players are BYD Co. Ltd., SAIC Motor Corp. Ltd, AB Volvo, Toyota Motor Corp., Nissan Motor Co. Ltd., and Hyundai Motor Co., among others.