About Electric Vehicle Range Extender
Electric vehicle range extender is a complicated multi-domain engineering system and it is a solution to the limited range. Electric vehicle range extender operates essentially as an electric vehicle until their batteries become depleted, at which point they utilize an Auxiliary Power Unit (APU) to provide electricity by recharge the battery or directly to propel the vehicle during driving and allow the vehicle to continue operating. Increasing investment in electric vehicles by various automobile manufacturers is propelling the growth of the market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are Nissan, General Motors, BMW, and Magna International Inc.. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Electric Vehicle Range Extender market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nissan (Japan), General Motors (United States), BMW (Germany), Magna International Inc. (Canada), MAHLE GmbH (Germany), Rheinmetall AG (Germany), Plug Power ( United States), Ballard Power Systems Inc. (Canada), AVL (Austria) and FEV (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ceres Power (United Kingdom), Nikola Motor (United States), Horizon Fuel Cell Technologies (Singapore) and Ashwoods Electric Motors (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Electric Vehicle Range Extender market by Type (ICE Range Extender, Fuel Cell Range Extender and Others) and Region.
On the basis of geography, the market of Electric Vehicle Range Extender has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vehicle Type, the sub-segment i.e. Passenger Vehicles will boost the Electric Vehicle Range Extender market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Electric Motor will boost the Electric Vehicle Range Extender market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Advanced Battery Technology In the Electric Vehicle Range Extender
Market Growth Drivers:
Increasing Demand of the Electric Vehicles, Rising Demand for Driving Range Extension of the Electric Vehicles and Government of Various Countries taking Incentives on the Purchase of Electric Vehicle Range Extender
Restraints:
High Cost Associated with Electric Vehicle Range Extender
Opportunities:
Increasing Demand for Fuel Cell Range Extender and Development of New Types of Range Extenders are Creates Opportunities for Market
Market Leaders and their expansionary development strategies
In July 2021, Hyliion Inc. has launched the Hypertruck Electric Range Extender (ERX), a long-haul, fully-electric powertrain which the company says delivers superior performance, emissions reductions and cost-savings to the global trucking industry. The launch of the Hypertruck ERX is anchored by logistics company Agility, which has confirmed a pre-order of up to 1,000 trucks and has agreed to invest in a private offering of securities to be issued by Tortoise Acquisition Corp.
In October 2023, Xiaomi has launched its first EV in both electric and extended-range versions. This news comes from the Beijing-based outlet Pandaily, which suggests that Xiaomis upcoming car will have both battery-electric and extended-range powertrains.
Key Target Audience
Electric Vehicle Range Extender Manufacturers, Electric Vehicle Manufacturers, Automotive Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.