Meticulous Research® has unveiled its latest 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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The report projects the e-SUV market to reach $914.2 billion by 2031, growing at a CAGR of 16.2% from 2024 to 2031. This growth trajectory is attributed to the global shift towards compact electric SUVs, supportive government regulations, and stringent emission standards. The significant investments by major automotive manufacturers are expected to drive further market expansion. Nonetheless, high vehicle costs and insufficient charging infrastructure in certain areas may pose challenges.

The study segments the market by propulsion type, vehicle size, and power output, providing a comprehensive analysis of industry trends and regional developments.

By propulsion type, battery-electric SUVs are anticipated to dominate in 2024, holding over 64% of the market share. This dominance is due to increased consumer demand for eco-friendly vehicles, stringent emission regulations, and expanded charging infrastructure. The hybrid SUV segment is projected to exhibit the highest growth rate, fueled by advancements in hybrid technology, improved fuel efficiency, and reduced operational costs.

In terms of vehicle size, mid-size SUVs are expected to capture the largest share of the market in 2024, with over 42% of the global market. Their appeal lies in their balance of fuel efficiency and handling characteristics. Compact SUVs, however, are forecasted to grow the fastest, driven by their versatility, fuel efficiency, and rising consumer preference for smaller, advanced SUVs.

Regarding power output, the segment of e-SUVs with 150 KW to 250 KW is expected to hold the largest market share in 2024, accounting for over 53%. This segment’s growth is driven by increased adoption of electric SUVs, supportive government incentives, and investments in EV infrastructure. The 150 KW to 250 KW segment is also anticipated to experience the highest growth rate due to the development of higher-performance e-SUVs.

Geographically, Asia-Pacific is projected to lead the e-SUV market in 2024, capturing more than 56% of the market share. This is supported by government subsidies, increasing demand for efficient vehicles, and substantial investments in EV infrastructure. The region is also expected to experience the highest CAGR of over 19%, driven by technological advancements and infrastructure development.

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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