USD 917.46 billion
Electric Vehicle (EV) Range Extender Market Size, Share, Growth Analysis, By Type(Fuel Cell Range Extender, ICE Range Extender, and Others), By Component Type(Battery Pack, Power Converter, Generator, and Electric Motor), By Vehicle Type(Passenger Car, and Commercial Vehicle), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2160 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Electric Vehicle (EV) Range Extender Market Insights
Electric Vehicle (EV) Range Extender Market size was valued at USD 993.61 billion in 2022 and is poised to grow from USD 1076.46 billion in 2023 to USD 2036.44 billion by 2031, at a CAGR of 8.30% during the forecast period (2024-2031).
The global electric vehicle range extender market is experiencing rapid growth driven by the increasing adoption of electric vehicles (EVs). Range extenders, which typically include internal combustion engines or fuel cells, are sought-after solutions to alleviate EV range anxiety.
These systems provide an extended driving range by generating on-board electricity, enhancing the appeal of EVs to a broader consumer base. As governments promote sustainable transportation and charging infrastructure expands, the range extender market is poised to further evolve, addressing a critical aspect of EV adoption, and contributing to the overall shift toward greener mobility.
US Electric Vehicle Range Extender Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger cars
Fastest Growth
Passenger cars
Growth Rate
8.3% CAGR
Global Electric vehicle range extender market by region
Country Share for North America (%)
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Electric Vehicle (EV) Range Extender Market Segmental Analysis
Electric Vehicle range Extender Market is segmented by Type, Component Type, Vehicle Type, and Region. Based on Type, the market can be segmented into Fuel Cell Range Extender, ICE Range Extender, and Others. Based on Component Type the market can be segmented into Battery Pack, Power Converter, Generator, and Electric Motor. Based on Vehicle Type the market can be segmented into Passenger Car, and Commercial Vehicle . Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Electric Vehicle (EV) Range Extender Market Analysis By Type
The largest segment in the global EV range extender market was likely the internal combustion engine (ICE) range extender. These range extenders were relatively common in early electric vehicles, especially in hybrids, as they provided an additional source of electricity to sustain the battery's charge and extend the driving range.
The fuel cell range extender segment was potentially one of the fastest-growing segments in the EV range extender market. Hydrogen fuel cells were gaining attention for their potential to provide longer driving ranges and faster refueling compared to traditional batteries. However, it's important to note that the adoption of fuel cell vehicles and their components like range extenders was still relatively limited compared to other technologies.
Electric Vehicle Range Extender Market Analysis By Vehicle
The largest market for EV range extenders is likely to be within the passenger car segment. This is because passenger cars have the widest consumer base, and addressing range anxiety is a critical factor in promoting EV adoption. Manufacturers have been investing in developing range extender technologies to cater to this market and make electric cars more appealing to a broader audience.
The fastest-growing market could be within the commercial vehicle segment. As the push for cleaner transportation options extends beyond personal vehicles, commercial fleets are increasingly adopting electric alternatives. Range extenders can play a crucial role in enabling longer routes and reducing downtime for charging, making them attractive for businesses that rely on transportation.
Global Electric vehicle range extender market by vehicle type
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Electric Vehicle (EV) Range Extender Market Regional Insights
The largest segments in the electric vehicle range extender market are likely to be found in regions with mature electric vehicle markets and supportive policies. This includes regions like Europe and North America, where consumers are more aware of electric vehicle technology and have access to a well-developed charging infrastructure.
The fastest-growing segments are likely to be in regions where electric vehicle adoption is accelerating rapidly due to government incentives, stricter emissions regulations, and changing consumer preferences. China's market, for example, has seen significant growth in electric vehicle adoption, including plug-in hybrids with range extenders, due to government policies and incentives promoting clean transportation.
Global Electric vehicle range extender market by geography
- Largest
- Fastest
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Electric Vehicle (EV) Range Extender Market Dynamics
Electric Vehicle Range Extender Market Drivers
Demand for Reduced Carbon Emission
- The push for greener transportation and reduced carbon emissions is fueling the growth of the global electric vehicle range extender market as it addresses the limited range anxiety, enhancing EV adoption and usability.
Electric Vehicle Range Extender Market Restraints
High Cost
- High costs of range extender technology development and integration, along with concerns about maintaining simplicity and reliability, act as significant restraints for the global electric vehicle range extender market expansion.
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Electric Vehicle (EV) Range Extender Market Competitive Landscape
The global electric vehicle (EV) range extender market features intense competition among key players striving to enhance EV travel distances. Industry leaders like BMW, General Motors, and Nissan are developing innovative range extender technologies, including onboard generators and fuel cells, to address EV range limitations. New entrants such as Lucid Motors and Rivian are also vying for market share by introducing advanced range-extending solutions. As governments emphasize clean transportation, collaborations and partnerships for research and development are on the rise. This dynamic landscape highlights a race to extend EV ranges, promoting sustainable mobility solutions worldwide.
Electric Vehicle Range Extender Market Top Player’s Company Profiles
- BMW - Germany
- General Motors - USA
- Nissan - Japan
- Ford - USA
- FCA (Fiat Chrysler Automobiles) - UK/Netherlands
- Toyota - Japan
- Honda - Japan
- Volvo - Sweden
- Volkswagen Group - Germany
- Hyundai - South Korea
- Kia - South Korea
- Tesla - USA
- BYD - China
- Geely - China
- Renault - France
- Mitsubishi - Japan
- Daimler AG - Germany
- Chery - China
- Mahindra & Mahindra - India
- SAIC Motor Corporation - China
Electric Vehicle Range Extender Market Recent Developments
- In February 2021, The investors are focusing towards electric vehicle companies to fund hydrogen power in the electric vehicle range extender market and Hyson Motors will receive USD 570 million from SPAC backed by fuel cell technology. This collaboration will focus on new product development.
Electric Vehicle (EV) Range Extender Key Market Trends
- In the rapidly evolving global electric vehicle (EV) range extender market, significant developments have emerged. Enhanced battery technologies, innovative power management systems, and lightweight materials have extended EV ranges, addressing consumer range anxiety. Collaborations between automakers and tech firms have driven breakthroughs, while expanding charging infrastructure and government incentives bolster adoption. Moreover, advancements in renewable energy integration, like solar panels, coupled with AI-driven predictive algorithms optimizing energy usage, have bolstered the market's growth trajectory. These developments reflect a dynamic landscape striving to overcome EV limitations, fostering increased consumer confidence, and steering the automotive industry toward sustainable transportation solutions.
Electric Vehicle (EV) Range Extender Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global electric vehicle (EV) range extender market holds promising prospects as it addresses EVs' limited range concerns. With advancements in battery technology and hybrid systems, range extenders offer a viable solution, enhancing EV adoption by alleviating range anxiety. Increasing environmental consciousness and government incentives further bolster market growth. As infrastructure improves and consumer demand rises, the range extender market is poised for expansion, playing a pivotal role in accelerating the transition towards sustainable transportation worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 993.61 billion |
| Market size value in 2031 | USD 2036.44 billion |
| Growth Rate | 8.30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Electric Vehicle (EV) Range Extender Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Electric Vehicle (EV) Range Extender Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Electric Vehicle (EV) Range Extender Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Vehicle (EV) Range Extender Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Vehicle (EV) Range Extender Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Vehicle (EV) Range Extender Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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