Press release
Electric Vehicle Range Extender Market Global Production, Growth, Share, Demand And Applications Forecast To 2027
The Global “Electric Vehicle Range Extender Market” research delves into detailed and insightful data on important variables such as regional growth, segmentation, and CAGR. The research contains a broad overview of the industry as well as a detailed explanation with a wealth of data. In addition, the production and management variety of end-user sectors. The research on the Electric Vehicle Range Extender market for the review period of 2021 – 2027 includes an in-depth assessment of certain new and significant industry trends, a competitive analysis, and a thorough geographical analysis.In accordance with the Electric Vehicle Range Extender market is set to grow at a CAGR of 11.87% over the forecast period (2021-2027).
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The study covers profiles of major companies operating in the Electric Vehicle Range Extender Market:
Magna, MAHLE, Rheinmetall, Plug Power, Ballard Power Systems, AVL, FEV, Delta Motorsport, Ceres Power, Nissan, General Motors, BMW, Nikola Motor, Horizon Fuel Cell Technologies, Ashwoods Electric Motors
Recent Development:
In March 2019, MAHLE's acquisition of the German transmission specialist ZG-Zahnräder und Getriebe GmbH adds significant extra transmission expertise to MAHLE Powertrain, one of the leading independent specialists in high-efficiency propulsion systems in Europe. This acquisition focuses on enhancing integrated development of entire powertrain, optimizing balance of performance, efficiency, packaging and NVH.
Market segment by Type, covers:
ICE Range Extender
Fuel Cell Range Extender
Others
Market segment by Application can be divided into:
Passenger Cars
Commercial Vehicles
Market Overview
The Electric Vehicle Range Extender Market was valued at USD 1 billion in 2021 and is expected to reach USD 3 billion in 2027 by registering a CAGR during the forecast period (2021 - 2027).
The Impact of the COVID-19 pandemic on the EV range extender market is inevitable due to shut down of manufacturing units and lock downs. However, market is expected to regain its momentum owing to the swiftly escalating year-on-year adoption rate of electric vehicles across the world.
Factors such as rise in demand for driving range extension of the electric vehicles and engine downsizing to augment the growth of the EV range extender market. Moreover, developments for the extension of driving range of BEVs and enhanced focus of OEMs toward reducing the price of the battery are expected to hinder the growth of the market across the globe. Moreover, growing adoption of new technologies such as towable generators and batteries expected to increase demand for range extenders over the forecast period.
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Asia-Pacific to Hold Significant Share in the Market During Forecast Period
Asia-Pacific anticipated to hold significant market share during forecast period. Owing to increasing number of OEMs, majorly in China and Japan, and surging demand for range extenders to offer lucrative opportunities to players as they are focusing on providing EVs with range extenders. In addition, government incentives on the purchase of EV extenders and EVs likely to fuel the growth of the market in this region. For instance,
In August 2020, China announced that authorities will exempt New vehicles from purchase tax till December 2022 to support the new energy vehicle (NEV) industry – electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles. The government is focusing on raising the requirements for the driving range and power efficiency of cars to qualify for the subsidies.
Regional Analysis:
North America (the United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)
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Table of Contents: Electric Vehicle Range Extender Market
Chapter 1: Electric Vehicle Range Extender Market Product Definition
Chapter 2: Global Market Manufacturer Share and Market Overview
Chapter 3: Manufacturer Business Introduction
Chapter 4: Global Electric Vehicle Range Extender Market Segmentation (Region Level)
Chapter 5: Global Electric Vehicle Range Extender Market Segmentation (Product Type Level)
Chapter 6: Global Market Segmentation (Industry Level)
Chapter 7: Global Market Segmentation (Channel Level)
Chapter 8: Market Forecast 2021-2027
Chapter 9: Segmentation Product Type
Chapter 10: Segmentation Industry
Chapter 11: Cost of Production Analysis
Chapter 12: Conclusion
Impact of COVID-19:
The COVID-19 epidemic has impacted markets and customer behaviour in a short period of time, and it is having a significant influence on economies and society. With offices, educational institutions, and manufacturing facilities closed indefinitely, big sports and events postponed, and work-from-home and social distance rules in place, businesses are increasingly seeking technology to assist them to get through these trying times. The COVID-19 epidemic is wreaking havoc on companies all around the world.
Report Customization:
The Global Electric Vehicle Range Extender Market report may be modified to meet your specific business needs. Because we understand what our clients want, we provide 25% customization for any of our MID reports at no additional cost to all of our clients.
About Us:
Market intelligence data is a global front-runner in the research industry, offering contextual and data-driven research services to customers. Customers are supported in creating business plans and attaining long-term success in their respective marketplaces by the organization. The industry provides consulting services, Market Intelligence Data research studies, and customized research reports.
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Irfan Tamboli (Head of Sales) – MARKET INTELLIGENCE DATA
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