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Global Electric Vehicle Range Extender Market Analysis, Drivers, Restraints, Threats & Growth Forecast to 2032

The global electric vehicle range extender market size was evaluated at $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 study examines the market drivers and restraints for electric vehicle range extenders, as well as the effect that each will have on demand throughout the forecast period.

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Electric vehicles are equipped with range extenders, which are secondary power units comprised of generators, power converters, battery cells, and electric motors, among other components. These components facilitate the augmentation of electric vehicle range. An alternative designation for this configuration is “series hybrid drivetrain.” Range extension is primarily intended to enhance the driving range of electric vehicles. One of the primary factors impeding the commercial viability of electric vehicles is their limited driving range; the implementation of range extenders assists in extending the driving range of electric vehicles when the battery is depleted.

Extended-range electric vehicles (EREVs), range-extended battery-electric vehicles (BEVx), and range-extended electric vehicles (REEVs) are alternative designations for electric vehicles equipped with range extenders.

The global market for electric vehicle range extenders is being propelled by the increasing prevalence of electric and hybrid vehicles. In addition, numerous government initiatives promoting environmentally favorable fuel sources and the rising demand for electric vehicle driving range extensions have contributed to the expansion of the electric vehicle market in a number of nations. The aforementioned factors are the primary drivers of substantial expansion in the worldwide electric vehicle range extender market.

Government intervention in the electric vehicle industry has significantly contributed to the increasing global prevalence of electric vehicles in recent years. To increase sales of electric vehicles, numerous governments are concentrating on providing rebates, incentives (both financial and non-financial), and various subsidies.

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The Global Electric Vehicle Range Extender Market is segmented based on product, application and region

Global Electric Vehicle Range Extender Market: Product Segment Analysis

● ICE Range Extender
● Fuel Cell Range Extender
● Others

Global Electric Vehicle Range Extender Market: Application Segment Analysis

● Passenger
● Commercial

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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
● Nissan Motors Corporation
● Volvo Car Corporation

Market Analysis of Electric Vehicle Range Extenders by Region

In 2018, North America dominated the market share by region, with Europe following suit. The primary driver behind the expansion of the electric vehicle range extender market is the ongoing increase in the adoption of electric and hybrid vehicles. The United States holds a dominant position in the North American market for electric vehicle range extenders. During the period of forecast, Asia-Pacific is anticipated to be the region with the most rapid growth in the global electric vehicle range extender market. Future market expansion is anticipated to be substantial in Latin America, the Middle East, and Africa, due to the widespread adoption of electric vehicle range extenders.

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