United States Electric SUVs Market was valued at USD 5.6 Billion in 2022 and is projected to reach USD 25.2 Billion by 2030, growing at a CAGR of 22.1% from 2024 to 2030.
The U.S. electric SUV market is experiencing a remarkable transformation, with projections indicating that by 2025, one in four vehicles sold will be electrified. citeturn0search0 This surge is driven by technological advancements, evolving consumer preferences, and strategic initiatives by automakers.
Major manufacturers are actively expanding their electric SUV portfolios. General Motors (GM) has secured 12% of the U.S. EV market, second only to Tesla's 44.4%, by introducing models like the Cadillac Lyriq EV and Chevrolet Equinox and Blazer EVs. citeturn0news24 Hyundai has unveiled its first three-row electric SUV, the IONIQ 9, targeting family-oriented consumers seeking spacious, eco-friendly options. citeturn0news28
Affordability is a key factor in accelerating EV adoption. GM and Ford are developing electric SUVs priced around $30,000, aiming to make EVs accessible to a broader audience. citeturn0news29 Additionally, used electric vehicle sales have surged, with tax credits of up to $4,000 making pre-owned EVs an attractive option. citeturn0news25
Government incentives and infrastructure development play pivotal roles in this transition. Federal tax credits of up to $7,500 and state-level incentives have significantly reduced the effective purchase price of EVs. citeturn0news24 The expansion of charging infrastructure, with over 100,000 public charging stations across the country, has alleviated range anxiety among potential buyers. citeturn0search1
However, challenges persist. Potential policy changes, such as the proposed elimination of federal EV subsidies and the imposition of tariffs, could impact EV affordability and sales. citeturn0news24 Additionally, some consumers express concerns about EV range and charging infrastructure, indicating that further improvements are necessary to meet diverse consumer needs. citeturn0news26
Despite these challenges, the U.S. electric SUV market is poised for significant growth. The convergence of technological advancements, supportive policies, and changing consumer preferences suggests a promising future for electric SUVs in the United States.
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Jaguar
Tesla
Mercedes
BMW
Volkswagen
Audi
Hyundai
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Electric SUVs Market
Compact Electric SUVs
Midsize Electric SUVs
Full-Size Electric SUVs
Luxury Electric SUVs
Below 40 kWh
40 kWh to 70 kWh
Above 70 kWh
Single Motor Front-Wheel Drive
Dual Motor All-Wheel Drive
Hybrid Electric SUVs (with plug-in options)
Budget Electric SUVs (Under $40,000)
Mid-Range Electric SUVs ($40,000 - $60,000)
Premium Electric SUVs (Above $60,000)
Environmentally Conscious Consumers
Technologically Savvy Buyers
Luxury Buyers
Families Seeking Practicality and Space
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Electric SUVs Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Electric SUVs Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Electric SUVs Market, By Type
6. US Electric SUVs Market, By Application
7. US Electric SUVs Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Electric SUVs Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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