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The Electric Vehicle Range Extender Market size was estimated at USD 24.59 billion in 2023, USD 27.37 billion in 2024, and is expected to grow at a CAGR of 11.55% to reach USD 52.86 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
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
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- 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.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Electric Vehicle Range Extender Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Vehicle Range Extender Market?
- What are the technology trends and regulatory frameworks in the Electric Vehicle Range Extender Market?
- What is the market share of the leading vendors in the Electric Vehicle Range Extender Market?
- Which modes and strategic moves are suitable for entering the Electric Vehicle Range Extender Market?
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Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Electric Vehicle Range Extender Market, by Extender Type
7. Electric Vehicle Range Extender Market, by Component
8. Electric Vehicle Range Extender Market, by Vehicle Type
9. Americas Electric Vehicle Range Extender Market
10. Asia-Pacific Electric Vehicle Range Extender Market
11. Europe, Middle East & Africa Electric Vehicle Range Extender Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
List of Figures
List of Tables
Companies Mentioned
- 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
- Wrightspeed Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 183 |
| Published | March 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 27.37 Billion |
| Forecasted Market Value ( USD | $ 52.86 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
