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Electric Vehicle Range Extender Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

September 2023 | 139 pages | ID: EAD1CEE5CB11EN
IMARC Group

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Market Overview:

The global electric vehicle (ev) range extender market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, exhibiting a growth rate (CAGR) of 10.2% during 2023-2028.

Battery electric vehicles (BEVs) generally have low range characteristics, which hinder their market penetration worldwide. As a result, there is a rise in the need for electric vehicle range extenders that can generate additional power to charge the battery. These extenders are auxiliary power units (AUP) consisting of an onboard fuel converter that produces electrical energy from a liquid fuel like gasoline. They also allow original equipment manufacturers (OEMs) to lower the capital costs of BEVs by downsizing the battery. Some of the commonly available electric vehicle range extenders are internal combustion engines (ICEs), fuel cells, and other engine types.

Electric Vehicle Range Extender Market Trends:
Shifting consumer inclination toward hybrid electric vehicles (HEVs) on account of rapid urbanization, improving income levels, and the limited average range of electric vehicles (EVs) represent one of the key factors bolstering the market growth. Apart from this, as electric vehicle range extenders can be powered using environmental-friendly fuels, such as biodiesel or solar power, which eliminate the consumption of fossil fuels, the growing environmental awareness among the masses is contributing to the market growth. Besides this, key market players are focusing on introducing clean electric vehicle range extenders that offer electric propulsion with zero local carbon dioxide (CO2) emissions. These new ranger extenders include micro gas turbines and solid oxide fuel cells (SOFCs), which are compact and cost-effective, provide high power density, and can be paired with an EV platform. This, in confluence with the rising demand for a considerable alternative to conventional vehicles as they significantly contribute to noise and atmospheric pollution, is anticipated to provide a positive outlook to the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electric vehicle range extender market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, component and vehicle type.

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

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:
How has the global electric vehicle range extender market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global electric vehicle range extender market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the vehicle type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global electric vehicle range extender market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
  2.3.1Primary Sources
  2.3.2Secondary Sources
2.4Market Estimation
  2.4.1Bottom-Up Approach
  2.4.2Top-Down Approach
2.5Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1Overview
4.2Key Industry Trends

5 GLOBAL ELECTRIC VEHICLE RANGE EXTENDER MARKET

5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast

6 MARKET BREAKUP BY TYPE

6.1Fuel Cell Range Extender
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2ICE Range Extender
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3Others
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY COMPONENT

7.1Battery Pack
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2Power Converter
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3Generator
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4Electric Motor
  7.4.1 Market Trends
  7.4.2 Market Forecast

8 MARKET BREAKUP BY VEHICLE TYPE

8.1Passenger Vehicle
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2Commercial Vehicle
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
  14.3.1AB Volvo
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2AVL
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
  14.3.3Ballard Power Systems Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4Bayerische Motoren Werke AG
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
    14.3.4.3 Financials
    14.3.4.4 SWOT Analysis
  14.3.5Ceres Power
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
  14.3.6Emoss Mobile Systems B.V. (Precision Camshafts Limited)
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
  14.3.7General Motors Company
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
    14.3.7.4 SWOT Analysis
  14.3.8Magna International Inc.
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 Financials
    14.3.8.4 SWOT Analysis
  14.3.9MAHLE GmbH
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 SWOT Analysis
  14.3.10Nissan Motor Co. Ltd. (Groupe Renault)
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11Rheinmetall AG
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials

LIST OF TABLES

Table 1: Global: Electric Vehicle Range Extender Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Electric Vehicle Range Extender Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Electric Vehicle Range Extender Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 4: Global: Electric Vehicle Range Extender Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
Table 5: Global: Electric Vehicle Range Extender Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Electric Vehicle Range Extender Market: Competitive Structure
Table 7: Global: Electric Vehicle Range Extender Market: Key Players

LIST OF FIGURES

Figure 1: Global: Electric Vehicle Range Extender Market: Major Drivers and Challenges
Figure 2: Global: Electric Vehicle Range Extender Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Electric Vehicle Range Extender Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Electric Vehicle Range Extender Market: Breakup by Type (in %), 2022
Figure 5: Global: Electric Vehicle Range Extender Market: Breakup by Component (in %), 2022
Figure 6: Global: Electric Vehicle Range Extender Market: Breakup by Vehicle Type (in %), 2022
Figure 7: Global: Electric Vehicle Range Extender Market: Breakup by Region (in %), 2022
Figure 8: Global: Electric Vehicle Range Extender (Fuel Cell Range Extender) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Electric Vehicle Range Extender (Fuel Cell Range Extender) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Electric Vehicle Range Extender (ICE Range Extender) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Electric Vehicle Range Extender (ICE Range Extender) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Electric Vehicle Range Extender (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Electric Vehicle Range Extender (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Electric Vehicle Range Extender (Battery Pack) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Electric Vehicle Range Extender (Battery Pack) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Electric Vehicle Range Extender (Power Converter) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Electric Vehicle Range Extender (Power Converter) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Electric Vehicle Range Extender (Generator) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Electric Vehicle Range Extender (Generator) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Electric Vehicle Range Extender (Electric Motor) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Electric Vehicle Range Extender (Electric Motor) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Electric Vehicle Range Extender (Passenger Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Electric Vehicle Range Extender (Passenger Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Electric Vehicle Range Extender (Commercial Vehicle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Electric Vehicle Range Extender (Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia-Pacific: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia-Pacific: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Electric Vehicle Range Extender Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Electric Vehicle Range Extender Market: Breakup by Country (in %), 2022
Figure 74: Middle East and Africa: Electric Vehicle Range Extender Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Global: Electric Vehicle Range Extender Industry: SWOT Analysis
Figure 76: Global: Electric Vehicle Range Extender Industry: Value Chain Analysis
Figure 77: Global: Electric Vehicle Range Extender Industry: Porter's Five Forces Analysis


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