The Electric Vehicle Range Extender Market is expected to grow from 1 billion in 2020 to USD 3 billion by 2026 at a CAGR of 9% from 2020 to 2026.
Electric vehicle range extender is also known as auxiliary power unit (APU), is electric vehicle equipment which offers add on energy for electric vehicle functions and operation other than forward motion. Electric vehicle range extenders are highly installed in heavy commercial vehicles and industrial vehicles. Unlike traditional vehicles, which have diesel engines, electric vehicle range extenders use battery packs as a power source. An electric vehicle range extender can supply power either through single-phase or through three-phase systems. Increase in demand for electric vehicles (EVs) and rising sales of electric vehicles in developing countries due to the emission concerns are primary factors which are projected to fuel the electric vehicle range extender market over the forecast period. An electric vehicle range extender charges its battery pack when the vehicle is on move, while the energy stored in battery packs is used to supply power to air conditioner, vehicle heater and others such integrated electric appliances of the vehicle when it is not running. This is a key feature which is projected to compel the electric vehicle range extender market during the forecast period. Moreover, the increasingly stringent regulations on emission coupled with providing of subsidies and incentives by governments are also estimated to foster the sales and demand for electric vehicles. This, in turn, is projected to create lucrative opportunities to the electric vehicle range extender market during the forecast period. Few other factors such as development of new types of electric vehicle range extenders will also likely to provide immense opportunities for the market. On the other hand, the huge cost of an electric vehicle, particularly in developing countries is a key factor which is projected to impede the electric vehicle range extender market during the forecast period.
Various fuel cell based electric vehicles are being launched by leading vehicle manufacturers such as Audi, BMW and others which has contributed in the growth of electric vehicles across the world. Further, fuel cell based vehicles are efficient in respect of propulsion as compared to primary battery operated vehicles. Therefore with constant developments carried out towards the range extension for electric vehicles, the demand for fuel cell range extender is rising which contributes to the electric vehicle range extender market growth.
The global Electric Vehicle Range Extender Market is segregated on the basis of Type as ICE Range Extender, Fuel Cell Range Extender and Others. Based on Vehicle Type the global Electric Vehicle Range Extender Market is segmented in Passenger Cars and Commercial Vehicles. Based on Component the global Electric Vehicle Range Extender Market is segmented in Battery Pack, Generator, Power Converter and Electric Motor.
The global Electric Vehicle Range Extender Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Electric Vehicle Range Extender Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Magna International, Rheinmetall, MAHLE, FEV Group, Nissan, General Motors, BMW and others are among the major players in the global Electric Vehicle Range Extender Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Electric Vehicle Range Extender Market has been segmented as below:
Electric Vehicle Range Extender Market, By Type
Electric Vehicle Range Extender Market, By Vehicle Type
Electric Vehicle Range Extender Market, By Component
Electric Vehicle Range Extender Market, By Region
Electric Vehicle Range Extender Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
The global Electric Vehicle Range Extender Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Electric Vehicle Range Extender Market share. Major industry players with significant revenue share include Magna International, Rheinmetall, MAHLE, FEV Group, Nissan, General Motors, BMW
Plug Power and others.
Why to Buy this Report:
Target Audience:
Free and Paid Customization based on the requirement
1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Electric Vehicle Range Extender Market, By Type
5.1. Key Points
5.2. ICE Range Extender
5.3. Fuel Cell Range Extender
5.4. Others
6. Electric Vehicle Range Extender Market, By Vehicle Type
6.1. Key Points
6.2. Passenger Cars
6.3. Commercial Vehicles
7. Electric Vehicle Range Extender Market, By Component
7.1. Key Points
7.2. Battery Pack
7.3. Generator
7.4. Power Converter
7.5. Electric Motor
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Electric Vehicle Range Extender Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Magna International
9.2. Rheinmetall
9.3. MAHLE
9.4. FEV Group
9.5. Nissan
9.6. General Motors
9.7. BMW
9.8. Plug Power
9.9. Ballard Power Systems
9.10. AVL
9.11. BJORKSTEN BIT 7
9.12. Nikola Corporation
9.13. Wrightspeed Inc.
9.14. EP Tender
9.15. Fagor Ederlan Group
9.16. Delta Motorsport Ltd.
9.17. Nikola Motor
9.18. Ceres Power
9.19. Horizon Fuel Cell Technologies
9.20. Ashwoods Electric Motors
9.21. AB Volvo
9.22. Tata Motors Ltd.
Electric Vehicle Range Extender Market, By Type
Electric Vehicle Range Extender Market, By Vehicle Type
Electric Vehicle Range Extender Market, By Component
Electric Vehicle Range Extender Market, By Company