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Electric Vehicle Range Extender Market Size, Share & Industry Analysis, By Type (ICE Range Extender, Fuel Cell Range Extender), By Vehicle Type (Passenger Car, Commercial Vehicle) And Regional Forecast, 2024-2032

Region : Global | Report ID: FBI105828 | Status : Ongoing

 

KEY MARKET INSIGHTS

A range extender is a fuel-based auxiliary power unit (APU) that extends the range of a battery electric vehicle (EV) by driving an electric generator that charges the vehicle's battery. A form of battery electric vehicles, includes an auxiliary power unit. This auxiliary power unit drives the electric generator, which eventually charges the battery of the vehicle and supplies electricity to the motors of the vehicle. This system is known as the electric vehicle range extenders are. Electric vehicle range extenders are also known as series hybrid drivetrain, which provides external power source to the electric vehicles. Numerous electric vehicle range extenders have been developed which require a fossil fuel or fuel cell-based range extenders to charge the battery of the vehicle.


At present requirement of range extenders in EVs has increased due to the lack of proper charging infrastructure and need for long travelling range of the vehicles. In addition, the growth of electric vehicle range extenders across the globe is supplemented by the use of small yet powerful engines. However, developments for the extension of driving range of BEVs and enhanced focus of OEMs toward reducing the price of the battery are expected to hinder the growth of the market across the globe. Also, improving driving range of EVs and high cost of electric vehicle range extenders may restrain the market growth.

Key Market Driver -

Long travelling range of the vehicles and lack of proper charging infrastructure will drive the growth of the market

Key Market Restraint -

Improving driving range of EVs and high cost of electric vehicle range extenders may restrain the growth of the market


Market Segmentation:


The Electric vehicle range extender market is segmented By Type (ICE Range Extender, Fuel Cell Range Extender), By Vehicle Type (Passenger Car, Commercial Vehicle), and by Geography.

By Type, the Electric vehicle range extender market is classified as ICE range extender and  Fuel cell range extender. ICE range extender currently holds the largest market share and is expected to maintain the same with steady growth. However, owing to the environmental concerns and increased implementation of the Fuel cell system, the Fuel cell range extender is anticipated to exhibit continued growth during the forecast period.

By Vehicle Type, the market is segmented into passenger car and commercial vehicles. The passenger car segment currently holds the largest share and is expected to maintain the same. This is because the pace of electrification of passenger vehicles is much more than commercial vehicles. However, the commercial vehicle segment is also broadening and will grow steadily over the forecast period.

Key Players:

Major players operating in the global Electric vehicle range extender market are Magna International, Mahle, Rheinmetall, Plug Power, AVL, Forschungsgesellschaft für Energietechnik und Verbrennungsmotoren (FEV) , General Motors, Nissan, BMW, Ceres Power, Ballard Power Systems, and Delta Motorsport.

Key Insights



  • New Advancements in Electric vehicle range extender Market

  • Number of Products, Key Countries, 2021

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the Electric vehicle range extender market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

North America region is anticipated to hold the largest position in the Global Electric vehicle range extender Market due to the increasing demand for a fuel efficient commercial fleet. Morover, the growing popularity of EVs is likely to boost the development of the market in the region during the forecast period. The growth can also be attributed to the EV giants present in the region.

Asia Pacific is expected to exhibit a higher CAGR during the forecast period due to the increased influence of EVs in the region. China and India are the key markets in the Asia Pacific as all significant automakers have their production sites located in the country and are prominent exporters of EVs across the globe. High urbanization and smart cities are expected to propel the EV sector’s growth, accelerating the Electric vehicle range extender market development.

Europe holds the second-largest position in the market, of which Germany ranks first in this regional market as major auto manufacturers are situated. Europe is an important market for Electric vehicle range extenders due to the high penetration among EVs. Additionally, the production of EVs in the region is consistently rising, which in turn is driving the market for Electric vehicle range extenders.

The rest of the world consists of Latin America, the Middle Eastern, and the African region. The middle eastern region is expected to contribute significantly to the growth of the market due to high income per capita and affordability than the other two regions. This can be also attributed to the early adoption of advanced technologies in the automobile sector, which have sensed opportunities for the same.

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Segmentation






















  ATTRIBUTE

  DETAILS

By Type



  • ICE Range Extender

  • Fuel Cell Range Extender



By Vehicle Type



  • Passenger Car

  • Commercial Vehicle



By Geography



  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



  • Ongoing
  • 2023
  • 2019-2022

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