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.
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Range Extender Market for Electric Vehicles: Growth Factors
Developed for electric vehicles, the range extender is a supplementary power unit comprising generators, power converters, battery packs, and electric motors, among other components. For electric cars, these parts allow range expansion. One further name for this kind of configuration is a series hybrid drivetrain. A range extender mostly serves to widen the range of electric cars. One of the primary causes slowing down the commercial success of electric vehicles is less driving range; hence, the advent of range extender helps to increase the driving range of electric vehicles upon battery depletion.
Range-extended electric vehicles (EREV), range-extended battery-electric vehicle (BEVx), and range-extended electric vehicles (REEV) are other names used for electric vehicles with range exteners.
The worldwide electric vehicle range extender market is driven by the increasing count of hybrid and electric cars. Moreover, the growing need for driving range extension of electric vehicles and different government projects for environmentally friendly fuel source has led to the expansion of the electric vehicles market in several nations. These are the primary elements clearly influencing the expansion of the worldwide extender market for electric vehicles.
Rising popularity of electric vehicles worldwide can be mostly attributed to government intervention in the electric vehicle sector throughout the past few years. Different governments concentrate on offering refunds, incentives—financial and non-financial, and various subsidies to boost the sales of electric cars.
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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
● AVL LIST GmbH
● Nissan Motors Corporation
● Volvo Car Corporation
Range Extender Market for Electric Vehicles: Regional Analysis
The regional segmentation covers demand for North America, Europe, Asia Pacific, Latin America, the Middle East and Africa both now and going forward. Major nations include the U.S., Canada, Mexico, UK, France, Germany, China, India, Japan, South Korea, Brazil, Argentina, and GCC Countries have been further divided out of each region.
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