Global E-SUV Market is valued approximately USD 44.41 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 25.1 % over the forecast period 2022-2029. E-SUV refers Electric Sports utility Vehicle. E-SUVs are powered by battery electric propulsion systems as these types of SUVs have an electric motor instead of an internal combustion engine. The E-SUV market is expanding because of factors such as rising demand for Electric Cars and growing penetration of e-mobility solutions as well as strategic initiatives from leading market players.
According to International Energy Agency estimates - during 2020, globally around 3 million units of electric cars were sold, and this number further increased to 6.6 million in 2021, representing around 9% of the global car market. Also, the rising number of favorable initiatives from government authorities coupled with growing technological advancements in automobile sector would create lucrative growth prospectus for the market over the forecast period. However, the high cost associated with E-SUVs and lack of penetration in developing countries growth throughout the forecast period of 2022-2029.
The key regions considered for the Global E-SUV Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of revenue owing to increasing demand for electric cars as well as presence of leading market players in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising adoption of electric cars as well as favorable government initiatives from government authorities in the region.
Major market players included in this report are:
BYD Company Limited
Ford Motor Company
Honda Motor Co., Ltd.
Recent Developments in the Market:
In April 2022, Mahindra Group launched its all-new electric-only brand, BE, for its EV portfolio in the United Kingdom.
In December 2021, Luxury carmaker BMW launched first-ever BMW iX electric SUV in India. This new SUV would be available in India as a completely built-up unit (CBU).
Global E-SUV Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Propulsion, Type, Seating Capacity, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Battery Electric Vehicle
By Seating Capacity
Rest of the World