Meticulous Research®—a leading player in global market research—has announced a new 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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According to Meticulous Research®’s latest report, the e-SUVs market is projected to grow to $914.2 billion by 2031, at a CAGR of 16.2% from 2024 to 2031. This growth is driven by the rising adoption of compact e-SUVs, supportive government policies, and stringent emission standards. Increased investment from leading automotive OEMs is expected to further drive market growth. However, the high cost of e-SUVs and limited charging infrastructure in developing regions may present challenges.

Market Segmentation

The e-SUVs market is segmented by propulsion type, size, and power output. The report offers an in-depth analysis of regional markets and evaluates industry competitors.

Propulsion Type

The market is categorized into battery-electric SUVs and hybrid SUVs. Battery-electric SUVs are expected to dominate with a market share of over 64% in 2024. This is due to rigorous emission regulations, growing demand for fuel-efficient vehicles, a shift towards sustainable transportation, and the expansion of charging infrastructure.

The hybrid SUVs segment is projected to record the highest CAGR during the forecast period. Growth in this segment is driven by investments in hybrid vehicle technology, better fuel efficiency, lower running costs, reduced emissions, and enhanced performance.

Size

The market is segmented into compact SUVs, mid-size SUVs, and full-size SUVs. The mid-size SUVs segment is anticipated to capture the largest share of over 42% in 2024. Mid-size SUVs offer a compromise between compact and full-size models, providing better handling, fuel efficiency, and suitability for city driving.

The compact SUVs segment is expected to grow at the highest CAGR. This growth is attributed to factors such as fuel efficiency, versatility, advanced safety features, and rising consumer preference. Automotive manufacturers are focusing on developing compact electric SUVs with advanced features.

Power Output

The e-SUVs market is segmented into Less Than 150 KW, 150 KW to 250 KW, and More than 250 KW. The 150 KW to 250 KW segment is forecasted to hold over 53% of the market share in 2024. This segment’s substantial share is due to the increasing adoption of electric SUVs, investments in EV charging infrastructure, and favorable policies and incentives.

The 150 KW to 250 KW segment is also expected to grow at the highest CAGR. This growth is driven by the focus of major players on developing e-SUVs with power outputs in this range.

Geography

The market is segmented by region into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Asia-Pacific is expected to dominate with over 56% of the global e-SUV market share in 2024. This is due to supportive government policies, tax incentives, regulations promoting EV adoption, and increasing consumer demand for fuel-efficient vehicles.

Asia-Pacific is also projected to experience the highest CAGR of over 19% during the forecast period, driven by increased investments in EV charging infrastructure, technological advancements, and expanded production capacity.

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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