Global electric SUV market Growth, Trends, COVID-19 impact and Forecast (2020-2025)
The global electric sports utility vehicle (e-SUV) market is segmented based on propulsion type(Battery Electric Vehicles, Hybrid & Plug-in-Hybrid Electric Vehicles), drive train(Front Wheel Drive (FWD), Rear Wheel Drive (RWD), and All-Wheel Drive (AWD)), seater type( 5-seater and 7-seater) and Region (APAC, North America, Europe, and ROW).
Introduction
The sports utility vehicle is also known as SUV or sport-ute and suburban utility vehicle, which offers more capacity, high vantage point for drivers, and carry features of a passenger car.
Electric SUVs are considered zero-emission vehicles, as they do not emit emission gases due to being powered only by an electric propulsion system.
Electric SUVs offer numerous benefits such as low emission, ease of maintenance, flexible interior space, improved performance, enhanced esthetic appearance, comfort, and higher ride position.
Battery electric SUV is a highly attractive segment of the electric SUV market, as these are pure electric vehicles that do not emit carbon due to the absence of an internal combustion engine and electric motors generate the torque required to drive these vehicles.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6.Five Force analysis
7.Market Sizing
8.Market segmentation
9.Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10. Growth drivers
10.1 Favorable government policies and support in terms of subsidies
10.2 Increasing demand for SUVs around the world owing to the new flock of
electric SUV models
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 Hyundai Motor Company
15.2 Toyota Motor Corporation
15.3 Tesla
15.4 Tata Motors
15.5 General Motors
15.6 BYD Company Limited
15.7 Honda Motor Co. Ltd
15.8 Mitsubishi Motors Corporation.
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
The Global Electric SUV market is expected to grow to $24.5 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with a 12.5% CAGR.
Asia Pacific dominates the global electric SUV market, primarily due to the expansion of the electric mobility industry in China, Japan, India, and South Korea.
Key Trends
Growing demand for comfortable and luxury cars is likely to increase the demand for the E SUV market.
Electric vehicles increase electricity demand but reduce oil demand and well-to-wheel greenhouse gas emissions, which has given an opportunity to shift towards electric SUVs.
Key Market Players
The most prominent players in the market are AB Volvo, BMW AG, Tata Motors, Daimler AG, Volkswagen AG, Nissan Motor Corporation, Toyota Motor Corporation, Renault, Faraday & Future Inc., Hyundai Motor Company, General Motors, Tesla, Inc., Ford Motor Company, BYD Company Limited, Kia Motors Corporation, BYTON Subaru Corporation, Honda Motor Co. Ltd., SF Motors, and Mitsubishi Motors Corporation.
Growth Drivers and Challenges
Increasing demand for SUVs around the world owing to the new flock of electric SUV models has influenced consumers to opt for SUVs over conventional sedans and hatchbacks.
Favorable government policies and support in terms of subsidies and grants, tax rebates, and other non-financial benefits in the form of carpool lane access.