Electric Vehicle (EV) Range Extender Market to Reach $1.67 Bn, Globally, by 2026 at 9.0% CAGR: Allied Market Research

Surge in demand for extension of driving range in electric vehicles and need for engine downsizing drive the growth of the global electric vehicle (EV) ranger extender market

News provided by

Allied Market Research

Mar 05, 2020, 08:30 ET

PORTLAND, Oregon, March 5, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Electric Vehicle (EV) Range Extender Market by Type (Fuel Cell Range Extender, ICE Range Extender, and Others), Component (Battery Pack, Power Converter, Generator, and Electric Motor), and Vehicle Type (Passenger Car and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global electric vehicle (EV) range extender industry generated $839.8 million in 2018, and is estimated to generate $1.67 billion by 2026, growing at a CAGR of 9.0% from 2019 to 2026.

Prime determinants of growth

Surge in demand for extension of driving range in electric vehicles and need for engine downsizing drive the growth of the global electric vehicle (EV) ranger extender market. Moreover, development of driving range extension of BEVs and focus of OEMs on lowering down the price of battery hinder the market growth. On the other hand, rise in demand for fuel cell range extender along with development of innovative range extenders create new opportunities in the industry.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6391

The ICE range extender segment to maintain its dominant share throughout the forecast period

Based on type, the ICE range extender segment held nearly half of the total share of the global electric vehicle (EV) ranger extender market in 2018, and is projected to maintain its dominant share throughout the forecast period. This is due to surge in its usage with lack of unavailability of proper range extenders that can be utilized in electric vehicles. However, the fuel cell range extender segment would portray the fastest CAGR of 9.9% from 2019 to 2026, owing to its vast scope of application as a fuel type and better efficiency as compared to ICE engines.

The battery pack segment to maintain its lead status during the forecast period

Based on component, the battery pack segment contributed to the highest market share of the global electric vehicle (EV) ranger extender market in 2019, accounting for more than one-third of the total market share, and is expected to maintain its lead status during the forecast period. This is attributed to better and efficient battery packs offered in the electric vehicle range extenders to enable efficient vehicle operation. However, the power converter segment is estimated to register the highest CAGR of 10.1% from 2019 to 2026.

North America to grow the fastest

Based on region, North America is estimated to register the highest CAGR of 10.6% from 2019 to 2026. This is due to surge in investments for developing electric vehicle infrastructure in the region. However, Asia-Pacific contributed to the largest market share in terms of revenue, contributing to nearly half of the global electric vehicle (EV) ranger extender market in 2019, and is expected to maintain its dominant share throughout the forecast period. This is attributed to wide adoption of electric vehicles along with rise in demand for range extender to offer long distance travelling in minimal charging.

For purchase inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6391

Market players grabbing the largest pie

AVL
Ballard Power Systems
BMW
Ceres Power
Delta Motorsport
Magna International
MAHLE
Nissan Motor Corporation
Plug Power Inc.
Rheinmetall

Avenue | The Market Research Library Access

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Sign up and start using your 14-day free trial: https://www.alliedmarketresearch.com/avenueTrial

Electric Vehicle Market is Expected to Grow High CAGR of 22.3% by 2025

Electric Vehicle Chargers Market Consumption to Reach $1,786 billion by 2023

Electric Vehicle Charging System Market is Expected to Reach $66.27 billion by 2026

Electric Vehicle Battery Market Expected to Reach $84 Billion by 2025

Pre-book Offer 12% Discount:

Zero Emission Vehicle Market

Vehicle Electrification Market

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
Allied Market Research Blog: blog.alliedmarketresearch.com/