Electric Vehicle Range Extender Market by Extender Type, Component, Vehicle Type

Description

List of Tables

[183 Pages Report] The Electric Vehicle Range Extender Market size was estimated at USD 24.59 billion in 2023 and expected to reach USD 27.37 billion in 2024, at a CAGR 11.55% to reach USD 52.86 billion by 2030.

Global Electric Vehicle Range Extender Market

KEY MARKET STATISTICS
Base Year [2023]	USD 24.59 billion
Estimated Year [2024]	USD 27.37 billion
Forecast Year [2030]	USD 52.86 billion
CAGR (%)	11.55%

Electric Vehicle Range Extender Market - IMG1

An electric vehicle range extender (EVRE) is essentially a system that improves the overall range of electric vehicles (EVs). The primary function of these systems is to supplement the vehicle's main electric power source, thereby allowing the vehicle to travel greater distances without needing a recharge. Increasing adoption of electric vehicles worldwide, progressive government policies promoting EVs, advancements in battery technologies, and rising consumer demand for longer driving ranges have accelerated the adoption of EVRE. However, high initial costs associated with range extender components and their complex installation may deter some consumers from adopting them. Ongoing research and development activities focused on enhancing energy density and charging capabilities while reducing costs are expected to provide potential opportunities in this market. Advancements in fuel cell systems could provide efficient and environmentally friendly alternatives to gasoline or diesel range extenders, particularly for heavy-duty applications such as trucks and buses.

Regional Insights

The Americas represents a significant market for electric vehicles, with countries such as the United States and Canada leading in terms of EV adoption. The U.S. Department of Energy has set ambitious targets to achieve EV market penetration by promoting various initiatives such as tax incentives for buyers and investment in charging infrastructure. Consequently, the demand for electric vehicle range extenders (EVRE) has also grown to meet consumer expectations around driving range capabilities. Major market players have invested in developing their own range of extender technologies to support their expanding portfolio of plug-in hybrid and all-electric vehicles. Asia observes a rising EV proliferation due to its rapid industrialization and emphasis on renewable energy sources. Governments in the region are offering generous subsidies for EV adoption, while market players are continuously investing in research and development efforts towards enhancing battery technology and exploring advanced EVRE systems. Europe's commitment to reducing greenhouse gas emissions has resulted in widespread support for electric vehicle adoption at both national and regional levels. European automakers have embraced this transition by investing significantly in research and development of EV technologies, including range extenders.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric Vehicle Range Extender Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric Vehicle Range Extender Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electric Vehicle Range Extender Market, highlighting leading vendors and their innovative profiles. These include AVL group, Ballard Power Systems Inc., BMW Group, BorgWarner Inc., Ceres Power Holdings plc, Daimler AG, Danfoss Power Solutions, Ford Motor Company, H2SYS, Hyfindr GmbH, IDTechEx Ltd, Lectron EV., Magna International Inc., MAHLE GmbH, Nissan Motor Corporation, NOW GmbH, Plug Power Inc, SAE International., Samsara Inc., Senior plc, Siemens AG, Springer Nature Switzerland AG,, Valeo SA, Volvo Car Corporation, and Wrightspeed Inc..

Market Segmentation & Coverage

This research report categorizes the Electric Vehicle Range Extender Market to forecast the revenues and analyze trends in each of the following sub-markets:

Extender Type
- Fuel Cell Range Extender
- ICE Range Extender
Component
- Battery Pack
- Electric Motor
- Generator
- Power Converter
Vehicle Type
- Commercial Vehicles
- Passenger Vehicles
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Electric Vehicle Range Extender Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Vehicle Range Extender Market?

3. What are the technology trends and regulatory frameworks in the Electric Vehicle Range Extender Market?

4. What is the market share of the leading vendors in the Electric Vehicle Range Extender Market?

5. Which modes and strategic moves are suitable for entering the Electric Vehicle Range Extender Market?

Product Code: MRR-DD0700E81EC8

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Electric Vehicle Range Extender Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing production and sales of electric and hybrid-electric vehicles
  - 5.1.1.2. Government incentives and subsidies promoting electric vehicle usage
  - 5.1.1.3. Emphasis on range anxiety mitigation among EV drivers
- 5.1.2. Restraints
  - 5.1.2.1. Concerns associated with emissions and frequent maintenance of range extenders
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in electric vehicle range extender technology
  - 5.1.3.2. Potential use of EVRE in commercial and fleet applications
- 5.1.4. Challenges
  - 5.1.4.1. Complexity in production and installation of range extenders
5.2. Market Segmentation Analysis
- 5.2.1. Extender Type: Significant penetration of fuel cell range extender
- 5.2.2. Component: Proliferating deployment of electric motors in automobiles
- 5.2.3. Vehicle Type: Rising applications of electric vehicle range extenders in commercial vehicles
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Electric Vehicle Range Extender Market, by Extender Type

6.1. Introduction
6.2. Fuel Cell Range Extender
6.3. ICE Range Extender

7. Electric Vehicle Range Extender Market, by Component

7.1. Introduction
7.2. Battery Pack
7.3. Electric Motor
7.4. Generator
7.5. Power Converter

8. Electric Vehicle Range Extender Market, by Vehicle Type

8.1. Introduction
8.2. Commercial Vehicles
8.3. Passenger Vehicles

9. Americas Electric Vehicle Range Extender Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Electric Vehicle Range Extender Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Electric Vehicle Range Extender Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. New Product Launch & Enhancement
  - 12.3.1.1. The First Xiaomi Car Will Introduce An Extended-range Version: 1.5T/L Range Extender Fastback Coupe
  - 12.3.1.2. Mazda MX-30 e-Skyactiv R-EV keeps the Wankel engine alive in a new range extender

13. Competitive Portfolio

13.1. Key Company Profiles
- 13.1.1. AVL group
- 13.1.2. Ballard Power Systems Inc.
- 13.1.3. BMW Group
- 13.1.4. BorgWarner Inc.
- 13.1.5. Ceres Power Holdings plc
- 13.1.6. Daimler AG
- 13.1.7. Danfoss Power Solutions
- 13.1.8. Ford Motor Company
- 13.1.9. H2SYS
- 13.1.10. Hyfindr GmbH
- 13.1.11. IDTechEx Ltd
- 13.1.12. Lectron EV.
- 13.1.13. Magna International Inc.
- 13.1.14. MAHLE GmbH
- 13.1.15. Nissan Motor Corporation
- 13.1.16. NOW GmbH
- 13.1.17. Plug Power Inc
- 13.1.18. SAE International.
- 13.1.19. Samsara Inc.
- 13.1.20. Senior plc
- 13.1.21. Siemens AG
- 13.1.22. Springer Nature Switzerland AG,
- 13.1.23. Valeo SA
- 13.1.24. Volvo Car Corporation
- 13.1.25. Wrightspeed Inc.
13.2. Key Product Portfolio

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing