Electric Vehicle Range Extender Market Report

“The electric vehicle range extender market was 442881 units in 2023 and is likely to grow at a decent CAGR of 10% in the long run to reach 863049 units in 2030.

Market Dynamics

Introduction  

The Electric Vehicle (EV) Range Extender Market can be defined as the market comprising of technologies and systems that enable vehicles to travel further than their battery capacity can alone support. Range extenders are generally supplementary power supply units that provide electrical power to charge the EV battery when in motion and are crucial in diminishing range and charging station shortages. These extenders come in various forms, including:

Internal Combustion Engine (ICE)-based Range Extenders: Small gas and/or diesel sets that provide electricity to the carriage or cars without mechanically driving the wheels.

Fuel Cell-based Range Extenders: Transport and use hydrogen fuel cells to recharge the battery to provide additional power to the vehicle’s mileage.

Battery Extenders: Use batteries that could be replaced or additional batteries or batteries in the form of modules that could be plugged into the main parent to provide a larger storage capacity.

Market Segments' Analysis

By Product Outlook

“ICE is expected to dominate the market”.

• ICE-based range extenders rely on conventional engine technology and therefore appear easier and less costly to implement in vehicles as compared with other technologies.
•  OEMs already have gasoline and diesel refueling infrastructure set aside and therefore, ICE range extenders are easy to come by for the consumer.
• ICE range extenders are at generally lesser cost than other solutions such as fuel cell systems, which remain expensive, although the costs of production have been decreasing, and refueling with hydrogen is still a big issue.

By Vehicle Outlook

“Passenger vehicles are expected to maintain their dominance over the forecasted period”.

• Daily commuters or people who engage in longer trips are likely to experience range anxiety forcing car manufacturers to include range extenders in their vehicles.
• BLDC passenger EVs are used heavily in these areas where charging may not be as advanced giving range extenders the advantage of adding more charge points.
• On this note, passenger vehicles occupy a larger fraction of the global EV market than commercial vehicles, making electric car users keen on range-extending technologies.

By Component Outlook

“Battery pack is expected to dominate”.

• In electric vehicles, a battery pack is the most important element as the source of energy, which provides the driving force for the electric motor and other loads of the vehicle. This is still the case, even if a range extender is added into the mix for good measure, so the battery is still the bit most critical to the functioning of a car such as this.
• With better advancements in battery technology in other areas such as energy density, charging, and battery longevity, battery packs get more efficient making them more prevailing in EV systems.
• Every auto manufacturer pays much attention to the battery aspect more than any other aspect of the EV since the battery determines the vehicle usage time and effectiveness.

Regional Analysis

“The European region is expected to dominate the market in the forecasted period”.

• In Europe, current standards of emission control are some of the highest globally, and thus, automakers have had to incorporate the ‘range extenders’ that guarantee high standards of fume discharge while at the same time promoting vehicle range.
• Electric cars are widely used in Germany, Norway, and the Netherlands, and these markets push the demand for the systems increasing the range of the car.
• Governments across Europe have provided massive support across all forms of electric vehicles and all major technologies like the range extender, and thus Europe remains the best environment to hatch new concepts and products.
• But again there is the question of charging points; the charging facilities are more developed in Europe and that is why the range extenders are a question of survival after we know that there are inadequate charging points hence explains why there is a huge demand for the range extenders.

Key Players

The market is highly fragmented, with the presence of over 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Electric Vehicle Range Extender.

Here is the list of the Top Players (Based on Dominance)

• MAHLE Group
• Rheinmetall Automotive AG
• Emoss Mobile Systems BV
• Plug Power Inc.
• AVL LIST GmbH
• Magna International Inc.
• Nissan Motors Corporation
• General Motors Company
• BMW Group
• Volvo Car Corporation

Note: The above list does not necessarily include all the top players of the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The electric vehicle range extender market is segmented into the following categories. 

Electric Vehicle Range Extender, by Product Outlook

• ICE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Fuel cell (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Electric Vehicle Range Extender, by Vehicle Outlook

• Passenger vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Commercial vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Electric Vehicle Range Extender, by Component Outlook

• Battery pack (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Generator (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Power converter (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Electric motor (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Electric Vehicle Range Extender, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Electric Vehicle Range Extender realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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