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E-SUVs Market Share

Report ID: GMI11485
Published Date: Sep 2024
Report Format: PDF

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E-SUVs Market Share

Audi AG, BMW Group, and Mercedes-Benz held a significant market share of over 8% in 2023. Audi is expanding its e-SUV lineup with models such as the Q4 e-tron and Q6 e-tron, emphasizing cutting-edge technology and luxury. The company is heavily investing in battery technology and has established a robust charging infrastructure through partnerships and its own network. Audi aims to deliver high performance and advanced features while enhancing sustainability and user experience.

BMW is increasing its e-SUV offerings, highlighted by the BMW iX and other upcoming models. The company focuses on integrating its proprietary electric drive technology and boosting energy efficiency. Additionally, BMW is broadening its charging solutions and utilizing digital services to enrich the driving experience. Sustainability and innovation are central to its strategy.

Mercedes-Benz is enhancing its e-SUV lineup with models like the EQB and EQS SUV, emphasizing luxury and cutting-edge technology. The company is channeling investments into battery development and expanding its EQ charging network to facilitate e-SUV adoption. By merging performance with premium features, Mercedes-Benz aims to captivate its upscale clientele while championing eco-friendly practices.

E-SUVs Market Companies

Major players operating in the e-SUVs industry are:

Audi AG
BMW Group
Mercedes-Benz
Ford Motor Company
Volkswagen AG
Toyota Motor Corporation
Volvo Car Corporation
Hyundai Motor Company
General Motors
Tata Motors

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of e-SUVs reached USD 145.1 billion in 2023 and is set to grow at a CAGR of over 11.1% between 2024 and 2032, owing to the increasing consumer awareness and the preference for eco-friendly vehicles.

In 2023, the all-wheel drive (AWD) segment accounted for a market share of over 51% and is expected to exceed USD 180 billion by 2032, as they provide superior traction and stability, aligning perfectly with the SUV ethos of versatility and all-terrain capability.

In 2023, the Asia Pacific region accounted for a market share of over 36% and is expected to exceed USD 130 billion by 2032, driven by substantial demand in countries such as China, Japan, and South Korea, backed by government subsidies, extensive charging infrastructure, and strong consumer demand.

Audi AG, BMW Group, Mercedes-Benz, Ford Motor Company, Volkswagen AG, Toyota Motor Corporation, Volvo Car Corporation, Hyundai Motor Company, General Motors, and Tata Motors.