Electric Vehicle Range Extender Market Is Anticipated To Reach $2656.66 Mn By 2032

Zion Market Research has published a new report titled “Electric Vehicle Range Extender Market by Product (Fuel Cell Range Extender, Ice Range Extender, and Others), by Component (Electric Motor, Battery Pack, Power Converter, and Generator), and by Vehicle Type (Passenger and Commercial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032’’. According to the report, the global electric vehicle range extender market was $1274.88 million in 2023 and is slated to hit $2,656.66 million by the end of 2032 with a CAGR of nearly 8.50% between 2024 and 2032.

The electric vehicle range extender is an auxiliary source of power unit invented for electric vehicles, to improve the vehicles’ range in case of exhausted battery capacities after covering a certain distance. Electric vehicles range extenders are segmented into thermodynamic or electrochemical sources. Fuel cells are electrochemical sources of energy that are used as range extenders in electric vehicles. They use hydrogen to produce electricity, which significantly reduces vehicular emissions. An electric generator is an example of a thermodynamic source of energy that has an engine as the main mover. 

Browse the full “Electric Vehicle Range Extender Market by Product (Fuel Cell Range Extender, Ice Range Extender, and Others), by Component (Electric Motor, Battery Pack, Power Converter, and Generator), and by Vehicle Type (Passenger and Commercial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032?” Report at https://www.zionmarketresearch.com/report/electric-vehicle-range-extender-market

The major factors driving the global electric vehicle range extender market are the rising air pollution levels, growing government interference in the promotion of electric vehicles, and increasing demand for the long-range capability of electric vehicles. The rising scarcity of the resources has resulted in the growing adoption of electric vehicles in various countries globally. The stringent rules implemented by the government has forced the automobile manufacturers to produce low-emission vehicles or take initiative in manufacturing electric vehicles to promote the sales of electric vehicles.

Furthermore, the demand for electric vehicle range extender is increasing rapidly, owing to its various benefits, such as compact and lightweight design, better fuel economy, all-electric (silent) mode of operation, available onboard power, flexibility, and engine downsizing. However, the increasing vehicle batteries cost may hinder the growth of the global electric vehicle range extender market. Alternatively, the rising demand for fuel cell range extenders is expected to create lucrative opportunities for the global electric vehicle range extender market in the upcoming years.

Based on product, the market is segmented into fuel cell range extender, ICE range extender, and others. The ICE range extender segment is expected to witness notable growth and acquire the highest market share in terms of revenue in the future, owing to its low-cost benefits and rising product demand. The component segment of the electric vehicle range extender market is majorly divided into electric motor, battery pack, power converter, and generator.

The battery pack component segment is expected to hold the largest market share in terms of revenue in the future, owing to the rising focus of the manufacturers on the development of new battery technologies, which, in turn, will increase the demand for the battery pack in the market. By vehicle type, the market includes passenger and commercial vehicles.

Based on the region, North America held the largest market share in 2018 followed by Europe. The continuous rise in the adoption of electric vehicles and hybrid vehicles is the key factor responsible for the growth of electric vehicle range extender market. The U.S. is the key country in the North American electric vehicle range extender market.

The Asia Pacific is estimated to be the fastest growing region in the global electric vehicle range extender market over the forecast time period. Latin America and the Middle East and Africa are expected to show considerable market growth in the future,  owing to the large-scale adoption of electric vehicle range extenders. 

Electric Vehicle Range Extender Market: Competitive Space

The global electric vehicle range extender market profiles key players such as:

• MAHLE Group
• General Motors Company
• Rheinmetall Automotive AG
• BMW Group
• Emoss Mobile Systems BV
• Magna International Inc
• Plug Power Inc
• AVL LIST GmbH
• Nissan Motors Corporation
• Volvo Car Corporation

This report segments the global electric vehicle range extender market into:

Electric Vehicle Range Extender Market: Product Analysis

• ICE Range Extender
• Fuel Cell Range Extender
• Others

Electric Vehicle Range Extender Market: Component Analysis

• Battery Pack
• Electric Motor
• Power Converter
• Generator

Electric Vehicle Range Extender Market: Vehicle Type Analysis

• Passenger
• Commercial

Electric Vehicle Range Extender Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com