Global Electric Vehicle Range Extender Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

"Global Electric Vehicle Range Extender Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global electric vehicle range extender market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global electric vehicle range extender market report has been segmented on the basis of product type, component, vehicle type, and region.

Introduction: 

Electric vehicle range extender also called as extended-range electric vehicles or range-extended battery-electric vehicle or range-extended electric vehicles includes components such as battery packs, generators, electric motors, and power converters that enable range extension for electric vehicles.

Market Dynamics: 

Rising demand for hybrid and electric in developing and developed economies owing to growing environmental concerns and rising fuel prices are expected to drive revenue growth of the electric vehicle range extender market over the forecast period. Moreover, the increasing number of R&D and technological advancements by various manufacturers is expected to support the revenue growth of the target market. Furthermore, several governments are offering financial incentives, subsidies, and rebates to boost adoption of the electric vehicle, which in turn expected to drive revenue growth of global electric vehicle range extender market.

However, the high cost of batteries is a major factor expected to restrain revenue growth of global electric vehicle range extender market over the forecast period.

Product Type Insights:

On the basis of product type, the ICE segment is expected to grow at a higher growth rate over the forecast period. Rising adoption of ICE extenders in electric vehicle owing to its cost effectiveness as compared to other extenders is expected to support revenue growth of this segment.

Vehicle Type Insights:

On the basis of vehicle type, the passenger vehicles segment is expected to account significant revenue share in the global electric vehicle range extender market. Growing demand for electric passenger vehicles in developing and developed countries is major factor expected to drive revenue growth of this segment over the forecast period.

Regional Insights:

North America market is expected to account major revenue share in the global electric vehicle range extender market. Growing demand for hybrid or electric automobiles in the countries such as the US and Canada is expected to drive revenue growth of target market in North America. Moreover, the lack of charging infrastructure in the region is expected to support revenue growth of North America electric vehicle range extender market over the forecast period. North America accounts for the major revenue share of the global electric vehicle range extender market, followed by markets in Europe, Asia Pacific, Latin America, and Middle East & Africa. The electric vehicle range extender market in Europe is expected to grow at a moderate growth rate over the forecast period. Rising demand for electric vehicles in the region coupled with the presence of prominent manufacturers is expected to drive revenue growth of electric vehicle range extender market in Asia Pacific.

Market Segmentation and Key Players Operating in the Global Electric Vehicle Range Extender Market:

By Product:

• ICE
• Fuel Cell
• Others

By Component Type:

• Generator
• Battery Pack
• Power Converter
• Electric Motor

By Vehicle Type:

• Passenger Vehicles
• Commercial Vehicles

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa