Market Research Report
Global Electric Vehicle Range Extender Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||925673|
|Published||Content info||113 Pages
Delivery time: 2-3 business days
|Global Electric Vehicle Range Extender Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 113 Pages||
The global electric vehicle range extender market is expected to register a CAGR of 7.63%, during the forecast period, 2019-2024.
EV range extender is an auxiliary power source unit equipped in EVs, to improve the vehicle's range during exhaustion of battery capacity after covering certain distance. EV range extenders have been classified into thermodynamics or electrochemical sources. Electric generator is a thermodynamic source of energy that has an engine as a prime mover. While fuel cells are electrochemical sources of energy that have been used as range extenders in EVs.
The aforementioned EV range extenders have been considered in the scope of the market.
Fuel Cell Range Extender to Witness Faster Growth Rate
Fuel cell range extenders are expected to capture a significant share in the market during the forecast period, owing to the several on-going developments towards fuel cell range extender market. For instances:
Asia-Pacific Expected to Capture a Major Market Share
Asia-Pacific is expected to see faster growth in the market studied, owing to the trends like increasing number of OEMs, majorly in China and Japan, offering EVs with range extenders as well as growing collaborations of the industry players in EV range extender business. For instances,
In September 2019, AIWAYS Automobile Co., Ltd. (AIWAYS) had started preorders for its intelligent pure-electric SUV U5 models during the Chengdu Motor Show 2019.These models is equipped with AIWAY's patented range extender battery pack B.
In December 2018, Ceres Power and Weichai Power announced their long-term strategic collaboration. A new joint development agreement (JDA) worth GBP 9 million announced to Ceres for the continued development of a first range extender product for electric buses in China. Ceres and Weichai will invest in a major new fuel cell manufacturing facility in Shandong, China, following successful trials.
Some of the major players, like Mahle International GmbH, Rheinmetall Automotive, FEV Europe GmbH, etc., have captured significant shares in the market.