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E-SUV Market Share, Size, Trends and Global Industry Growth Analysis Forecast Report [2030]
The Global e-SUV Market to Grow at a CAGR of 14.1% During 2023-2030; Growing Strategic Partnerships by Key Players to Boost Market Growth
Pune, India., Dec. 15, 2023 (GLOBE NEWSWIRE) -- *E-SUV Market*
The global e-SUV market size was valued at USD 176.67 billion in 2022. The market is projected to grow from USD 208.50 billion in 2023 to USD 524.26 billion by 2030, exhibiting a CAGR of 14.1% during the forecast period.
e-SUV, an electric SUV, is a fully-electric sports utility vehicle powered by electricity instead of internal combustion fuel engine. Electric SUVs are one of the most popular electric vehicles, offering zero-emission and quiet operation. The increasing adoption of fuel-efficient mobility solutions is expected to boost market growth during the forecast period.
*E-SUV Market Drivers & Restraints-*
*Decreasing Electric Vehicle Battery Cost to Boost Market Growth*
The e-SUVs are increasingly becoming popular owing to their versatility and spaciousness, further driving e-SUV market growth during the forecast period. The rising adoption of e-SUVs due to the decrease in battery costs, further reducing the total operational and final vehicle costs, is boosting market growth during the forecast period. The continuous decrease in lithium-ion batteries is estimated to boost market growth during the projected period.
However, increasing driving range anxiety owing to the lack of charging stations is anticipated to hinder market growth during the forecast period.
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*Report Highlights:*
*Report Coverage* *Details*
Forecast Period 2023-2030
Forecast Period 2023 to 20230 CAGR 14.1%
E-SUV Market 2030 Value Projection 524.26 billion
Base Year 2022
E-SUV Market Size in 2023 208.50 billion
Historical Data for 2019 - 2021
No. of Pages 200
*E-SUV Market Competitive Landscape-*
*Increasing Strategic Partnerships by Key Players to Aid Market Growth*
The increasing adoption of partnership strategies by key market players is expected to boost market growth during the forecast period. The growing focus of key players on increasing product penetration in several developing nations is estimated to drive market growth during the projected period.
*To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: *https://www.fortunebusinessinsights.com/e-suv-market-108609
*E-SUV Market Segments-*
*HEV Dominated As They Are an Ideal Choice for the Buyers *
Based on propulsion, the market is segmented into BEV and HEV. The HEV segment dominated as they are an ideal vehicle which lie between EV and IC engines making them suitable for buyers with insufficient charging infrastructure.
*Increased Affordability to Boost Mid-Size Segment Growth*
By size, the market is classified into compact, mid-size, and full-size. The mid-size segment is anticipated to dominate the market during the forecast period. The mid-size segment offers many required features, making it cost-effective, driving segment growth.
*Increasing Cost-Effectiveness to Aid 150 to 300 km Segment Growth*
Based on driving range, the market is divided into Upto 150 km, 150 to 300 km, and Above 300 km. The 150 km to 300 km segment is expected to hold the highest market share during the forecast period as the e-SUVS falling in this range has comparatively low costs.
*Increasing Comfort to Boost Powertrain Segment Growth*
By component, the market is divided into body, chassis, powertrain, battery, electronics, and others. The powertrain segment dominates the market during the forecast period due to its growing importance for safety, comfort, and performance.
*Segmentation* *By Propulsion*
· BEV
· HEV
*By Size*
· Compact
· Mid-Size
· Full- Size
*By Driving Range*
· Upto 150 km
· 150 to 300 km
· Above 300 km
*By Components*
· Body
· Chassis
· Powertrain
· ICE
· Motor
· Up to 20 kW
· 20 to 100 kW
· Above 100 kW
· Battery
· Upto 10 kWh
· 10 to 30 KWh
· 30 to 60 kWh
· Above 60 KWh
· Electronics
· Others
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*E-SUV Market Regional Insights-*
*Rising Government Initiatives to Increase EV Production to Boost Market Growth in Asia Pacific*
The Asia Pacific is estimated to dominate the e-SUV market during the forecast period. The growth is attributed to the growing initiatives to raise the sales and production of e-SUVs. China holds the highest e-SUV market share in the region owing to the new energy vehicle mandate in the country.
Europe is expected to grow significantly during the forecast period due to the stringent government policies and emissions rules to raise the proportion of commercial vehicles.
*Report Coverage:*
· Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
· Comprehensive insights into regional developments.
· List of major industry players.
· Key strategies adopted by the market players.
· The latest industry developments include product launches, partnerships, mergers, and acquisitions.
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*Top Electric Sports Utility Vehicle (E-SUV) manufacturers Analyzed:*
· 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)
*COVID-19 Impact:*
*Increased Supply Chain Disruptions During COVID-19 Pandemic Hindered Market Growth*
The COVID-19 pandemic had a negative impact on the e-SUV market growth. The increased closure of several major economies during the pandemic hampered market growth. The supply chain disruptions caused by a significant decrease in vehicle demand and manufacturing shutdown during the pandemic impeded market growth during the pandemic.
*E-SUV Industry Development:*
· *August 2023 – *Honda launched the e:Ny1, a B-segment SUV for its European customers. With this launch, Honda claims that the e:Ny1 is the first SUV to be built on Honda's all-new front-wheel-drive e:N Architecture F platform. The range of this new SUV is over 400 km.
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*Table of Content:*
· Introduction
· Research Scope
· Market Segmentation
· Research Methodology
· Definitions and Assumptions
· Executive Summary
· Market Dynamics
· Market Drivers
· Market Restraints
· Market Opportunities
· Market Trend
· Key Insights
· Key Industry Developments – Mergers, Acquisitions, and Partnerships
· Porter’s Five Forces Analysis
· Technological Developments
· COVID-19 Impact
· Global e-SUV Market Analysis, Insights and Forecast, 2019-2030
· Key Findings / Definitions
· Market Analysis, Insights and Forecast – By Propulsion
· BEV
· HEV
· Market Analysis, Insights and Forecast – By Size
· Compact
· Mid-Size
· Full-Size
· Market Analysis, Insights and Forecast – By Driving Range
· Upto 150 Km
· 150 to 300 Km
· Above 300 Km
· Rear Seat Entertainment
· Market Analysis, Insights and Forecast – By Components
· Body
· Chassis
· Powertrain
· ICE
· Motor
· Up to 20 kW
· 20 to 100 kW
· Above 100 kW
· Battery
· Upto 10 kWh
· 10 to 30 KWh
· 30 to 60 kWh
· Above 60 Kwh
· Electronics
· Others
· Market Analysis, Insights and Forecast – By Region
· North America
· Europe
· Asia pacific
· Rest of the World
· North America e-SUV Market Analysis, Insights and Forecast, 2019-2030
· Market Analysis, Insights and Forecast – By Propulsion
· BEV
· HEV
· Market Analysis, Insights and Forecast – By Size
· Compact
· Mid-Size
· Full-Size
· Market Analysis, Insights and Forecast – By Driving Range
· Upto 150 Km
· 150 to 300 Km
· Above 300 Km
· Market Analysis, Insights and Forecast – By Components
· Body
· Chassis
· Powertrain
· ICE
· Motor
· Up to 20 kW
· 20 to 100 kW
· Above 100 kW
· Battery
· Upto 10 kWh
· 10 to 30 KWh
· 30 to 60 kWh
· Above 60 Kwh
· Electronics
· Others
· Market Analysis – By Country
· U.S.
· By Propulsion
· Canada
· By Propulsion
· Mexico
· By Propulsion
· Europe e-SUV Market Analysis, Insights and Forecast, 2019-2030
· Market Analysis, Insights and Forecast – By Propulsion
· BEV
· HEV
· Market Analysis, Insights and Forecast – By Size
· Compact
· Mid-Size
· Full-Size
· Market Analysis, Insights and Forecast – By Driving Range
· Upto 150 Km
· 150 to 300 Km
· Above 300 Km
· Market Analysis, Insights and Forecast – By Components
· Body
· Chassis
· Powertrain
· ICE
· Motor
· Up to 20 kW
· 20 to 100 kW
· Above 100 kW
· Battery
· Upto 10 kWh
· 10 to 30 KWh
· 30 to 60 kWh
· Above 60 Kwh
· Electronics
· Others
· Market Analysis – By Country
· U.K.
· By Propulsion
· Germany
· By Propulsion
· France
· By Propulsion
· Rest of Europe
· By Propulsion
· Asia pacific e-SUV Market Analysis, Insights and Forecast, 2019-2030
· Market Analysis, Insights and Forecast – By Propulsion
· BEV
· HEV
· Market Analysis, Insights and Forecast – By Size
· Compact
· Mid-Size
· Full-Size
· Market Analysis, Insights and Forecast – By Driving Range
· Upto 150 Km
· 150 to 300 Km
· Above 300 Km
· Market Analysis, Insights and Forecast – By Components
· Body
· Chassis
· Powertrain
· 3.ICE
· Motor
· Up to 20 kW
· 20 to 100 kW
· Above 100 kW
· Battery
· Upto 10 kWh
· 10 to 30 KWh
· 30 to 60 kWh
· Above 60 Kwh
· Electronics
· Others
· Market Analysis – By Country
· China
· By Propulsion
· Japan
· By Propulsion
· India
· By Propulsion
· South Korea
· By Propulsion
· Rest of Asia Pacific
· By Propulsion
· Rest of the World e-SUV Market Analysis, Insights and Forecast, 2019-2030
· Market Analysis, Insights and Forecast – By Propulsion
· BEV
· HEV
· Market Analysis, Insights and Forecast – By Size
· Compact
· Mid-Size
· Full-Size
· Market Analysis, Insights and Forecast – By Driving Range
· Upto 150 Km
· 150 to 300 Km
· Above 300 Km
· Market Analysis, Insights and Forecast – By Components
· Body
· Chassis
· Powertrain
· ICE
· Motor
· Up to 20 kW
· 20 to 100 kW
· Above 100 kW
· Battery
· Upto 10 kWh
· 10 to 30 KWh
· 30 to 60 kWh
· Above 60 Kwh
· Electronics
· Others
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