Electric Sports Utility Vehicle Market Size, Prominent Players, Future scope, Analysis, Business Development and Market To Expand at a Notable CAGR Of 10% During 2019 - 2023

Electric Sports Utility Vehicle (e-SUV) Market Research Report: Information by Drive Train (Front Wheel Drive, Rear Wheel Drive, All Wheel Drive), Seater Type (5-Seater, 7-Seater) and Region - Global Forecast till 2023

Electric Sports Utility Vehicles Market (E-SUVs), are considered as alternatives of internal combustion engine (ICE) SUVs. E-SUVs are characterized by higher efficiency and lower emission of harmful gases, thus helping maintain environmental balance. These SUVs have received an over-whelming response from the developed markets, especially in the U.S., UK and Germany.

Rising level of stringency in terms of environmental regulations and growing awareness regarding environmental degradation among the masses are expected to play key roles in the growth of this market over the forecast period. Besides, attractive incentives by governing bodies such as free parking and charging batteries along with discounts, have also had a major impact on the growth of the market.

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Key Players

The prominent players in the Global Electric Sports Utility Vehicle (E-SUV) Market include Toyota Motor Corporation (Japan), Tesla, Inc. (U.S.), BMW Group (Germany), Jaguar Land Rover (UK), Audi AG (Germany), Porsche AG (Germany), Volvo Car (Sweden), The Hyundai Motor Company (South Korea), Honda Motor Company, Ltd. (Japan), and Nissan Motor Co., Ltd. (Japan).

Electric Sports Utility Vehicle (e-SUV) Market Segmentation

The global electric sports utility vehicle (e-SUV) market is segmented on the basis of drive train, seater type and region. On the basis of drive train, the market is segmented into Front Wheel Drive (FWD), Rear Wheel Drive (RWD), and All Wheel Drive (AWD). By seater type, the market is segmented into 5-seater and 7-seater.

Regional Analysis:

Geographically, the Global Electric Sports Utility Vehicle (e-SUV) Market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to account for a significant share in the Global Electric Sports Utility Vehicle (e-SUV) Market. The U.S. dominated this region, followed by Canada. This region has witnessed growing demand for SUVs and recreational vehicles in the last few years. However, due to stringent environmental regulations, the demand for e-SUVs is also expected to go up in the next five years.

The global Electric Sports Utility Vehicle (e-SUV) market is segmented based on region into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is projected to witness the highest CAGR over the forecast period. Countries such as China, Japan and South Korea, are major consumers and producers of SUVs in this region. Similarly, these countries are also expected to dominate the Asia Pacific eSUV market over the forecast period.

The European market was dominated by developed countries such as UK, germany and France. This region has a well-established infrastructure in place for electric vehicles, which has made it easier for consumers to switch from ICE vehicles to electric vehicles. Smaller countries in this region such as Norway and Ireland are known for a high penetration of electric vehicles.

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Scope of the Report

This study provides an overview of the global Electric Sports Utility Vehicle (e-SUV) Market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Electric Sports Utility Vehicle (e-SUV) Market by drive train, seater type, and region.