According to a new market report published by Lucintel, the future of the global EV range extender market looks promising with opportunities in passenger cars and commercial vehicles market. The global EV range extender market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow 10% from 2021 to 2026. The major drivers for this market are growing demand for increased driving range in electric vehicles, engine size reduction, growing demand for fuel cell range extenders, and new development in new range extender types.
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In this market, ICE range extenders and fuel cell range extenders are the major types of range extenders used in electric vehicles. On the basis of comprehensive research, Lucintel forecasts that ICE range extenders will remain the largest type segment over the forecast period because ICE range extenders cost lower cost than fuel cell range extenders.
Within the global EV range extender market, battery pack is expected to be the largest component type segment over the forecast period because it is the main source of power supply to electric vehicles.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to increasing government spending on electric vehicle infrastructure development and continuous growth of the Chinese and Japanese EV markets.
Mahle International GmbH, Rheinmetall Automotive, FEV Europe GmbH, Ballard Power Systems, Ceres Power, and AVL Group are among the major suppliers of EV range extenders.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global EV range extender market by vehicle type, type, component type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global EV Range Extender Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global EV range extender market by vehicle type, type, component type, and region, as follows:
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Cars
Commercial Vehicles
By Type [Value ($ Million) from 2015 to 2026]:
ICE Range Extenders
Fuel Cell Range Extenders
Others
By Component Type [Value ($ Million) from 2015 to 2026]:
Battery Pack
Generator
Power Converter
Electric Motor
By Region [Value ($ Million) from 2015 to 2026]:
North America
Europe
France
Germany
United Kingdom
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.