Meticulous Research®, a prominent name in global market research, has released a significant 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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The findings of this report reveal that the e-SUVs market is set to reach $914.2 billion by 2031, growing at a CAGR of 16.2% from 2024 to 2031. The growth is primarily driven by the rising demand for small and compact e-SUVs globally, supportive government policies, and stringent emission and fuel economy regulations.

Additionally, substantial investments from key automotive OEMs in the development of e-SUVs are expected to present further market opportunities. However, the high cost of e-SUVs could limit market growth, while the inadequate charging infrastructure in developing regions remains a notable challenge.

The e-SUVs market is segmented by propulsion type, size, and power output, facilitating a thorough evaluation of competitors and regional dynamics.

In terms of propulsion type, the market is classified into battery-electric SUVs and hybrid SUVs. By 2024, battery-electric SUVs are projected to dominate with over 64% of the global market share. This strong position is largely attributed to stringent automotive emission regulations, increasing consumer demand for fuel-efficient vehicles, a global shift towards eco-friendly transportation, and improvements in charging infrastructure.

Conversely, the hybrid SUVs segment is expected to grow at the highest CAGR during the forecast period, driven by increased investments from automotive OEMs in hybrid technology, improved fuel efficiency, reduced operational costs compared to traditional fuel vehicles, and enhanced performance metrics.

In terms of size, the e-SUVs market is divided into compact SUVs, mid-size SUVs, and full-size SUVs. By 2024, mid-size SUVs are anticipated to account for over 42% of the market share, due to their advantageous characteristics that balance compact and full-size vehicle attributes, providing better handling and improved fuel efficiency for urban driving.

On the other hand, the compact SUVs segment is projected to achieve the highest CAGR during the forecast period, driven by various factors, including enhanced fuel efficiency, versatility, spacious interiors equipped with advanced safety features, and a growing consumer preference for compact electric 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. By 2024, the 150 KW to 250 KW segment is expected to dominate, holding over 53% of the global market share. This significant share is primarily attributed to the rising adoption of electric SUVs, increased government investments in EV charging infrastructure, and favorable policies and incentives from various state authorities.

However, the 150 KW to 250 KW segment is anticipated to grow at the highest CAGR during the forecast period, driven by key industry players focusing on the development of e-SUVs with power outputs in this range.

Geographically, the e-SUVs market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. By 2024, Asia-Pacific is projected to hold over 56% of the e-SUVs market share. This substantial share is attributed to government subsidies, tax incentives, and regulations that support the development and adoption of EVs, alongside rising consumer demand for fuel-efficient mobility solutions and efforts to mitigate greenhouse gas emissions.

Furthermore, Asia-Pacific is expected to register the highest CAGR of over 19% during the forecast period, driven by initiatives to enhance charging infrastructure and a growing focus on technological advancements and production capacity expansions among key industry 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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