Global Electric Vehicle Range Extender Market was 194,123 Units in 2018 and is expected to reach XX Units by 2026 at a CAGR of about XX % during a forecast.
Global Electric Vehicle Range Extender Market
Electric vehicle range extender, also referred to as auxiliary power unit (APU), is an electric vehicle equipment that provides additional energy for electric vehicle functions and operation other than forward motion. Electric vehicle range extenders are widely found in heavy commercial vehicles and industrial vehicles. Unlike conventional vehicles, which employ diesel engines, electric vehicle range extenders utilize battery packs as a power source. An electric vehicle range extender can deliver power either via single-phase or three-phase systems.
Driving factors of electric vehicle range extender market are increasing demand for electric vehicles (EVs) and increasing sales of EVs in developing countries. Increasingly stringent regulations on emission coupled, government incentives on the purchase of a range extender electric vehicle, with regulation forcing vehicle manufacturers to further reduce the carbon emission and rising fuel prices will boost the demand for an electric vehicle range extender. Electric vehicles fuel station infrastructure and higher installation cost can hamper the growth of electric vehicle range extender market.
Global Electric Vehicle Range Extender Market is segmented into by type, by vehicle type, by component, and by region. Based on the type, electric vehicle range extender market is segmented into ICE Range Extender, Fuel Cell Range Extender & Others. In vehicle type is segmented into Passenger Vehicle & Commercial Vehicle. The component segment is sub segmented into Battery Pack, Generator, Power Converter & Electric Motor. Geographically, market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
In terms of Vehicle type, Passenger Vehicle segment shares the XX% market during the forecast period. Increase in production of passenger vehicle across the globe, decline in bank interest rate, rapid urbanization, rising safety concern, and Government initiatives and developing economies are offering several incentives. Incentives on the purchase of a range extender electric car are expected to drive more market penetration in electric vehicle range extender.
In terms of Type, ICE Range Extender segment is projected to grow at fastest rate during the forecast period. Major manufacturers are currently offering ICE range extender electric vehicles and a low-cost advantage is expected to drive the ICE range extender market. Better fuel economy and reduced pollutant emissions, when compared to the conventional internal combustion engine (ICE) vehicles, will have more opportunity in electric vehicle range extender market.
The report also helps in understanding Global Electric Vehicle Range Extender Market dynamics, structure by analyzing the market segments and project the Global Electric Vehicle Range Extender Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Electric Vehicle Range Extender Market make the report investor’s guide.
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The scope of the Report Global Electric Vehicle Range Extender Market:
Global Electric Vehicle Range Extender Market: By Type
• ICE Range Extender
• Fuel Cell Range Extender
Global Electric Vehicle Range Extender Market: By Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
Global Electric Vehicle Range Extender Market: By Component
• Battery Pack
• Power Converter
• Electric Motor
Global Electric Vehicle Range Extender Market: By Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player analyzed in the Report:
• Magna International
• FEV Group
• General Motors
• Plug Power
• Ballard Power Systems
• BJORKSTEN BIT 7
• Nikola Corporation
• Wrightspeed Inc.
• EP Tender
• Fagor Ederlan Group
• Delta Motorsport Ltd.
• Nikola Motor
• Ceres Power
• Horizon Fuel Cell Technologies
• Ashwoods Electric Motors
This Report Is Submitted By : Maximize Market Research Company
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