The latest research study “Electric Vehicle Range Extender Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global electric vehicle (ev) range extender market reached a value of US$ 1.21 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.29 Billion by 2027, exhibiting a CAGR of 10.60% during 2022-2027.
Covid-19 Impact:
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Industry Definition and Application:
Battery electric vehicles (BEVs) usually have low range characteristics, which increase the need for electric vehicle range extenders. They can initiate additional power to charge the battery. Electric vehicle range extenders are commonly available in various forms, such as fuel cells, internal combustion engines (ICEs), and other engine types. They are auxiliary power units (AUP) consisting of an onboard converter that simulates electrical energy from liquid fuel, including gasoline. Electric vehicle range extenders assist original equipment manufacturers (OEMs) in lowering the capital costs of BEVs by downsizing the battery.
Global Electric Vehicle Range Extender Market Trends and Drivers:
The growing consumer inclination towards hybrid electric vehicles (HEVs), owing to the limited coverage of automobiles, is primarily driving the electric vehicle range extender market. Besides this, the escalating demand for these devices that are powered using environmental-friendly energies, such as solar power or biodiesel, is further augmenting the market growth. Moreover, the development of clean electric vehicle range extenders that emit zero local carbon dioxide (CO2) gases is also catalyzing the global market. Apart from this, the rising need for a considerable alternative to conventional motorcars as they increase noise and atmospheric pollution is acting as another significant growth-inducing factor. Additionally, the introduction of innovative devices equipped with micro gas turbines and solid oxide fuel cells (SOFCs), thar provide high power density and are compact as well as cost-effective, is expected to bolster the electric vehicle range extender market in the coming years.
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Electric Vehicle Range Extender Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 1.21 Billion |
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Market forecast in 2027 |
US$ 2.29 Billion |
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Growth Rate |
CAGR of 10.60% from 2022 to 2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, Component, Vehicle Type and Region |
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Regional scope |
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
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Key companies profiled |
AB Volvo, AVL, Ballard Power Systems Inc., Bayerische Motoren Werke AG, Ceres Power, Emoss Mobile Systems B.V. (Precision Camshafts Limited), General Motors Company, Magna International Inc., MAHLE GmbH, Nissan Motor Co. Ltd. (Groupe Renault) and Rheinmetall AG. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
• Fuel Cell Range Extender
• ICE Range Extender
• Others
Breakup by Component:
• Battery Pack
• Power Converter
• Generator
• Electric Motor
Breakup by Vehicle Type:
• Passenger Vehicle
• Commercial Vehicle
By Geography:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
List of Major Key Players:
The major players in the market are AB Volvo, AVL, Ballard Power Systems Inc., Bayerische Motoren Werke AG, Ceres Power, Emoss Mobile Systems B.V. (Precision Camshafts Limited), General Motors Company, Magna International Inc., MAHLE GmbH, Nissan Motor Co. Ltd. (Groupe Renault) and Rheinmetall AG.
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