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Global E-SUV Market Report and Forecast 2024-2032
Market Report I 2024-05-02 I 180 Pages I EMR Inc.
Global E-SUV Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global E-SUV market size reached a value of USD 131.17 billion in 2023. Aided by the shifting consumer preferences, government incentives, and advancements in electric vehicle (EV) technology, the market is projected to further grow at a CAGR of 24.7% between 2024 and 2032 to reach a value of USD 956.41 billion by 2032.
An electric sports utility vehicle (E-SUV) is a type of electric vehicle (EV) designed with the functionality and versatility of a traditional sports utility vehicle (SUV) but powered by an electric drivetrain. E-SUVs combine the spaciousness, ruggedness, and off-road capabilities typically associated with SUVs with the environmental benefits and performance advantages of electric propulsion.
The global E-SUV market growth is fuelled by a combination of environmental awareness, regulatory mandates, and consumer demand for sustainable mobility solutions. As concerns about climate change and air pollution continue to escalate, governments around the world are implementing stringent emission regulations and offering incentives to promote the adoption of electric vehicles. Firstly, increasing consumer awareness about the environmental impact of traditional combustion-engine vehicles is driving demand for cleaner and greener alternatives. E-SUVs offer zero-emission driving with lower carbon footprints, appealing to eco-conscious consumers seeking sustainable transportation options.
As per the E-SUV market analysis, the growing availability of charging infrastructure and government incentives for EV adoption are bolstering consumer confidence in electric vehicles. With initiatives such as tax credits, rebates, and subsidies aimed at incentivising EV purchases, more consumers are making the switch to electric, driving sales of E-SUVs across global markets.
Additionally, the evolution of electric vehicle technology is enabling automakers to introduce a new generation of E-SUVs with enhanced performance, longer range, and innovative features, which can propel the E-SUV market expansion. From sleek designs and cutting-edge connectivity to advanced driver-assistance systems and autonomous capabilities, electric SUVs are redefining the automotive landscape and capturing the imagination of discerning consumers.
As consumer preferences become more diverse, automakers are increasingly offering customisable options for E-SUVs. From colour choices and interior materials to technology packages and performance upgrades, customers are seeking vehicles that reflect their individual tastes and lifestyles. As per the E-SUV market outlook, personalisation options not only enhance the overall ownership experience but also enable automakers to cater to niche segments and differentiate their offerings in a competitive market landscape.
The availability of fast-charging infrastructure is crucial for the widespread adoption of electric vehicles. Recognising this, governments and private entities are investing heavily in the expansion of charging networks, with an emphasis on high-speed chargers capable of replenishing battery levels quickly. Rapid charging stations located along major highways and in urban centres enable E-SUV owners in the E-SUV market to recharge their vehicles conveniently, making long-distance travel more feasible and reducing charging downtime.
Furthermore, technological advancements in battery technology, charging infrastructure, and electric drivetrains have significantly improved the performance, range, and affordability of E-SUVs, making them increasingly competitive with their conventional counterparts. With automakers investing heavily in research and development to enhance battery efficiency and reduce manufacturing costs, the barriers to entry for electric vehicles are gradually diminishing, paving the way for widespread adoption.
North America currently leads the global E-SUV market share, driven by robust demand in the United States and Canada. The region benefits from a well-developed charging infrastructure, supportive government policies, and a strong culture of innovation, making it a flourishing hub for E-SUV adoption. However, Asia-Pacific is emerging as a key growth hub for the market, propelled by rapid urbanisation, rising disposable incomes, and government initiatives to promote clean energy and combat air pollution.
Market Segmentation
The market can be divided based on type, propulsion, seating capacity, and region.
Market Breakup by Type
- Crossover
- Mid-size
- Full Size
- Compact
Market Breakup by Propulsion
- Battery Electric Vehicles (BEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Fuel Cell Electric Vehicles (FCEVs)
Market Breakup by Seating Capacity
- 5-seater
- 6-seater and Above
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global E-SUV market. Some of the major players explored in the report by Expert Market Research are as follows:
- Hyundai Motor Company
- Audi AG
- BMW AG
- Mercedes-Benz AG
- Ford Motor Company
- Renault S.A.S
- Tesla, Inc.
- Volkswagen AG
- Volvo Group
- Tata Motors Limited
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global E-SUV Market Analysis
8.1 Key Industry Highlights
8.2 Global E-SUV Historical Market (2018-2023)
8.3 Global E-SUV Market Forecast (2024-2032)
8.4 Global E-SUV Market by Type
8.4.1 Crossover
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Mid-size
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Full Size
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Compact
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global E-SUV Market by Propulsion
8.5.1 Battery Electric Vehicles (BEVs)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Plug-In Hybrid Electric Vehicles (PHEVs)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Fuel Cell Electric Vehicles (FCEVs)
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global E-SUV Market by Seating Capacity
8.6.1 5-seater
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 6-seater and Above
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global E-SUV Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America E-SUV Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe E-SUV Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific E-SUV Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America E-SUV Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa E-SUV Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Hyundai Motor Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Audi AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 BMW AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mercedes-Benz AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Ford Motor Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Renault S.A.S
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Tesla, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Volkswagen AG
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Volvo Group
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Tata Motors Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global E-SUV Market: Key Industry Highlights, 2018 and 2032
2. Global E-SUV Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global E-SUV Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global E-SUV Historical Market: Breakup by Propulsion (USD Billion), 2018-2023
5. Global E-SUV Market Forecast: Breakup by Propulsion (USD Billion), 2024-2032
6. Global E-SUV Historical Market: Breakup by Seating Capacity (USD Billion), 2018-2023
7. Global E-SUV Market Forecast: Breakup by Seating Capacity (USD Billion), 2024-2032
8. Global E-SUV Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global E-SUV Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America E-SUV Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America E-SUV Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe E-SUV Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe E-SUV Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific E-SUV Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific E-SUV Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America E-SUV Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America E-SUV Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa E-SUV Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa E-SUV Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global E-SUV Market Structure
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