by The electric vehicle range extender market size was valued approximately at US$ 917.46 million in 2021 and is projected to reach US$ 1,8 billion by 2030, registering a CAGR of 8.3% over the forecast period 2022 to 2030.
The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2022 to 2030. The electric vehicle range extender market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).
Growing sales of electric vehicles and demand for electric vehicles in the global market are two main reasons driving the growth of the global electric vehicle range extender market. As a result of growing environmental concerns, the adoption of electric vehicles has increased in both developed and developing countries.
Furthermore, the governments of these regions are giving incentives and subsidies to encourage the market adoption of electric vehicles. Over the projected period, this factor will drive the worldwide electric vehicle range extender market. The rise of the electric vehicle market in growing and developed regions is offering a good outlook for the global electric vehicle range extender market’s growth and development.
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Electric Vehicle Range Extender Market Estimations Y-O-Y:
| Market Size Was Valued In 2021 | US$ 917.46 million |
| Market Size Is Projected to Reach By 2022 | US$ 991.35 million |
| Market Size Is Projected to Reach By 2030 | US$ 1.8 Billion |
| Compound Annual Growth Rate (CAGR) from 2022 to 2030 | 8.3% |
Electric Vehicle Range Extender Market Regional Snapshot
North America is the largest segment for electric vehicle range extender market in terms of region.The U.S. is dominating the electric vehicle range extender market in the North America region. The electric vehicle range extender market in this region is rising due to reasons such as technical improvements, increased demand for batteries, and increased usage of electric vehicles. Furthermore, in the North American region, the expanding government initiatives for the development of the electric car market are creating demand for electric vehicle range extenders.
Europe region is the fastest growing region in the electric vehicle range extender market.The U.K and Germany hold the highest market share in the Europe electric vehicle range extender market.The increased sales of electric and hybrid vehicles in the market are driving the expansion of the electric vehicle range extender market in Europe. Furthermore, the presence of significant market competitors in the region is encouraging the growth of the electric vehicle range extender market.
Scope of the Electric Vehicle Range Extender Market
| Report Attributes | Details | |
| Market Size in 2021 | USD 917.46 Million | |
| Growth Rate of Europe Region | 13% | |
| ICE Range Extender Market Share in 2021 | 74% | |
| Battery Pack Market Share in 2021 | 43% | |
| Companies Covered | Nissan, Delta Motorsport, Magna International, General Motors, Ballard Power Systems, Mahle, Ceres Power, BMW, Rheinmetall, Plug Power | |
Electric Vehicle Range Extender Market Report Highlights
- The ICE range extender and fuel cell range extender are the different products of electric vehicle range extender. Due to its low cost, the ICE range extender segment is growing. The increased deployment of hybrid electric vehicles in the global market has resulted in a growing demand for ICE range extenders.
- On the basis of vehicle, passenger vehicles segment holds the largest market share in the global electric vehicle range extender market. To obtain competitive edge in the electric vehicle range extender market, prominent market players are incorporating electric vehicle range extender technology into passenger automobiles.
- On the component, battery pack segment holds the largest market share in the global electric vehicle range extender market. The battery pack is utilized for an extended period of time. The battery packs are typically utilized for about 5 years. The battery packs are particularly efficient in nature for electric vehicles when compared to other components.
Electric Vehicle Range Extender Market: Recent Developments
- MAHLE Powertrain, which is one of the Europe’s major independent specialists in high efficiency propulsion technology, acquired the German transmission specialist ZG-Zahnrader and Getriebe GmbH in March 2019. This acquisition is focused on optimizing the rebalancing of performance by improving the overall effect of the powertrain.
- Blue World Technologies declared the start of work on the world’s largest methanol fuel cell facility in Denmark in September 2019. The methanol fuel cell is a range extender that provides long range, easy refilling with liquid fuel and an effort to reduce environmental impact.
Electric Vehicle Range Extender Market Dynamics
Drivers
Growing demand for electric vehicle range extender
The demand for electric vehicle is growing at a rapid pace globally. This has resulted into the growing importance for electric vehicle range extender in the global market. In addition, the favorable charging infrastructure is resulting into the growing demand for electric vehicle range extender. As a result, this factor is boosting the growth of the global electric vehicle range extender market over the projected period.
Restraints
High cost of electric vehicles
The electric vehicle is quite expensive as compared to traditional vehicles or fuel-based vehicles. The advanced features and technologies integrated with electric vehicles add up to the final cost of the product. Not everyone can afford electric vehicles. Thus, the high cost of electric vehicles is hindering the growth of the electric vehicle range extender market.
Opportunities
Growing government initiatives
The government are taking constant efforts for the growth in the sales of electric vehicles globally. They are also providing tax benefits, incentives, and subsidies for the installation of manufacturing plants of electric vehicles all around the globe. Thus, growing government initiatives is creating opportunities for the growth of the electric vehicle range extender market over the forecast period.
Challenges
Lack of awareness regarding electric vehicle
The developing and underdeveloped regions are not aware about the electric vehicles. Till now people are using traditional or gasoline-based vehicles. This is due to lack of proper resources in these regions. This is directly impacting the growth of the electric vehicle range extender market. Thus, lack of awareness regarding electric vehicles is a major challenge for the expansion of the global electric vehicle range extender market.
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Some of the prominent players in the global electric vehicle range extender market include:
- Nissan
- Delta Motorsport
- Magna International
- General Motors
- Ballard Power Systems
- Mahle
- Ceres Power
- BMW
- Rheinmetall
- Plug Power
Segments Covered in the Report
By Product
- ICE Range Extender
- Fuel Cell Range Extender
- Others
By Vehicle
- Passenger vehicles
- Commercial vehicles
By Component
- Battery pack
- Automotive
- Power Converter
- Electric Motor
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Electric Vehicle Range Extender Market
5.1. COVID-19 Landscape: Electric Vehicle Range Extender Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Electric Vehicle Range Extender Market, By Product
8.1. Electric Vehicle Range Extender Market, by Product Type, 2022-2030
8.1.1. ICE Range Extender
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Fuel Cell Range Extender
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Electric Vehicle Range Extender Market, By Vehicle
9.1. Electric Vehicle Range Extender Market, by Vehicle, 2022-2030
9.1.1. Passenger vehicles
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Commercial vehicles
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Electric Vehicle Range Extender Market, By Component
10.1. Electric Vehicle Range Extender Market, by Component, 2022-2030
10.1.1. Battery pack
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Automotive
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Power Converter
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Electric Motor
10.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Electric Vehicle Range Extender Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.1.3. Market Revenue and Forecast, by Component (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Component (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Component (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.3. Market Revenue and Forecast, by Component (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Component (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Component (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Component (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Component (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.3. Market Revenue and Forecast, by Component (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Component (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Component (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Component (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Component (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.3. Market Revenue and Forecast, by Component (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Component (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Component (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Component (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Component (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.5.3. Market Revenue and Forecast, by Component (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Component (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Vehicle (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Component (2017-2030)
Chapter 12. Company Profiles
12.1. Nissan
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Delta Motorsport
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Magna International
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. General Motors
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Ballard Power Systems
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Mahle
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Ceres Power
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. BMW
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Rheinmetall
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Plug Power
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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Frequently Asked Questions:
[sc_fs_multi_faq headline-0=”h6″ question-0=”What is the current size of electric vehicle range extender market?” answer-0=”According to Precedence Research, the global electric vehicle range extender market size was estimated at US$ 917.46 million in 2021 and is expected to surpass around US$ 1,876.5 million by 2030. ” image-0=”” headline-1=”h6″ question-1=”What will be the CAGR of global electric vehicle range extender market?” answer-1=”The global electric vehicle range extender market is expected to drive growth at a CAGR of 8.3% over the forecast period 2022 to 2030. ” image-1=”” headline-2=”h6″ question-2=”Who are the major players operating in the electric vehicle range extender market?” answer-2=”The major players operating in the electric vehicle range extender market are Nissan, Delta Motorsport, Magna International, General Motors, Ballard Power Systems, Mahle, Ceres Power, BMW, Rheinmetall, and Plug Power. ” image-2=”” headline-3=”h6″ question-3=”Which are the driving factors of the electric vehicle range extender market?” answer-3=”Growing sales of electric vehicles and demand for electric vehicles in the global market are two main reasons driving the growth of the global electric vehicle range extender market. ” image-3=”” headline-4=”h6″ question-4=”Which region will lead the global electric vehicle range extender market?” answer-4=”North America dominated the electric vehicle range extender market in 2021 with revenue share of 45% and will lead in near future. ” image-4=”” count=”5″ html=”true” css_class=””]
