This Electric Vehicle Range Extender market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Electric Vehicle Range Extender market.
Electric Vehicle Range Extender Market: Overview
An electric vehicle range extender is an additional electrical power supply unit for electric vehicles that includes an auxiliary power unit (APU). Major components of an electric vehicle range extender are the ICE, generator, AC/DC converter, and fuel tank. In the urban areas of developing countries with dense traffic, the average speed of a vehicle is around 50 km/h. In these areas, the rolling resistance losses of vehicles are more important as compared to aerodynamic loses. Therefore, developing countries are projected to represent an addressable opportunity for the electrical vehicle range extender market over the forecast time period. Furthermore, countries where the speed of vehicles on highways is limited, there is business opportunity for electric vehicle range extenders, owing to electric vehicles having a limited speed range. In military operations conventional vehicles are unable to reach nearby targets due to limited fuel capacity. For efficiently performing these type of secret operations, electric vehicle range extenders are being used. Seeing this optimistic scenario of electric vehicles, tech giant players are developing electric vehicle range extenders for renowned automotive players such as BMW. The company also announced that it plans to launch the BMW iX3 with the ICE type electric vehicle range extender. Nissan also announced that it will introduce the Nissan e-Power type electric vehicle range extender for catering to the demand of Indian consumers in the coming years.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Electric Vehicle Range Extender Market: Dynamics
The governments of countries such as the U.S., China, and Germany are conducting schemes and plans for increasing the adoption rates of electric vehicle range extenders for electric vehicles in order to create a green transportation environment. Moreover, OEMs such as Suzuki and Nissan are planning to launch electric vehicles equipped with an ICE type electric vehicle range extenders in India, which will surge the demand for electric vehicle range extenders. Moreover, rising disposal income and consumer spending for reduced emissions are also anticipated to pave the way for the electric vehicle range extender market over the stipulated time period.
High initial costs coupled with lack of awareness pertaining to electric vehicle range extenders are the prominent factors which may hinder the growth of the electric vehicle range extender market during the forecast period.
Electric Vehicle Range Extender Market: Regional Outlook
North America is projected to be dominate the electric vehicle range extender market, owing to the rising adoption rate of electric vehicles as well as supportive government regulations pertaining to reduce the emission of carbon particles. This is anticipated to boost the market value for the electric vehicle range extender market during the forecast period. Western Europe is projected to be the second-largest marker for electric vehicle range extenders, owing to a surge in the demand for electric vehicles, which may also ramp up the volume sales of electric vehicle range extenders during the forecast period. Asia pacific is projected to be the fastest growing region for electric vehicle range extenders, owing to the increasing awareness of electric vehicles in China, India, and Japan. In the Middle East and Africa region, governments are focusing on green transportation through the adoption of electric vehicles, which is also projected to lead to a significant contribution in the growth of the electric vehicle range extender market during the forecast period.
Electric Vehicle Range Extender Market: Key Participants
Some of the market participants in the electric vehicle range extender market identified across the value chain:
- Wrightspeed Inc.
- Magna International
- MAHLE Powertrain Ltd.
- PLUG POWER INC.
- Ballard Power Systems
- BMW of North America
- Nikola Motor
- Delta Motorsport Ltd.
- Fagor Ederlan Group
- EP Tender
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, product type, component, vehicle, and end user.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Electric Vehicle Range Extender Market: Segmentation
On the basis of product type, the electric vehicle range extender market can be segmented as:
- Fuel Cell Range Extenders
- ICE Range Extenders
On the basis of component, the electric vehicle range extender market can be segmented as:
- Power Converters
- Electric Motors
- Battery Packs
On the basis of vehicle, the electric vehicle range extender market can be segmented as:
- Passenger Vehicles
- Commercial Vehicles
- Off-highway Vehicles
- Autonomous Underwater Vehicles (AUVs)
On the basis of end user, the electric vehicle range extender market can be segmented as:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Electric Vehicle Range Extender Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Electric Vehicle Range Extender Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Electric Vehicle Range Extender Market report?
In addition to up-to-date market figures and customized of the Electric Vehicle Range Extender Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.