Meticulous Research® has unveiled its latest market research 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), and Geography – Global Forecast to 2031.”

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According to the report, the e-SUVs market is poised to reach a valuation of $914.2 billion by 2031, growing at a CAGR of 16.2% from 2024 to 2031. The market's expansion is driven by the global shift towards compact and smaller electric SUVs, supportive government initiatives, and stringent emissions regulations aimed at reducing pollution. Additionally, increasing investments from leading automotive OEMs in the electric SUV space are projected to create new growth avenues. Nevertheless, the high cost of e-SUVs and the limited availability of charging infrastructure in certain regions could hinder the market’s growth.

The e-SUV market is analyzed across propulsion type, size, and power output, offering a competitive landscape and detailed regional insights.

By propulsion, the market is bifurcated into battery-electric SUVs and hybrid SUVs. The battery-electric SUVs segment is expected to command the largest share in 2024, accounting for over 64% of the total market. This growth is spurred by rising consumer demand for fuel-efficient and eco-friendly transportation, stringent global automotive emissions regulations, and the development of charging infrastructure. Hybrid SUVs, on the other hand, are expected to grow at the fastest rate, driven by the increased focus on hybridization to reduce emissions and improve performance.

Based on size, mid-size SUVs are expected to dominate the market in 2024, capturing over 42% of the market share. These vehicles provide a good balance of fuel efficiency and handling, making them highly suitable for urban use. However, compact SUVs are forecasted to experience the fastest growth, as consumer preference shifts towards versatile, fuel-efficient vehicles with advanced safety features.

In terms of power output, e-SUVs with power capacities between 150 KW to 250 KW are expected to lead the market in 2024, holding over 53% of the market share. The growth of this segment is attributed to the increasing adoption of electric SUVs, investments in EV infrastructure, and government incentives aimed at promoting electric vehicle usage. This segment is also expected to grow at the highest CAGR during the forecast period as manufacturers focus on developing more powerful electric SUVs.

Regionally, Asia-Pacific is expected to dominate the e-SUV market in 2024, accounting for over 56% of the total market. The region’s leadership is driven by government subsidies, tax incentives, and regulations encouraging electric vehicle adoption, as well as rising consumer demand for fuel-efficient vehicles. The Asia-Pacific region is also forecasted to grow at the highest rate, with a CAGR of over 19%, fueled by ongoing investments in EV infrastructure and technological advancements in vehicle production.

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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