A range-extender vehicle is a battery electric vehicle that includes an auxiliary power unit (APU) known as 'range extender'. The range extender drives an electric generator that charges a battery that supplies the vehicle's electric motor with electricity. This arrangement is known as a series hybrid drivetrain. The most commonly used range extenders are internal combustion engines, but fuel cells or other engine types can be used. An electric vehicle (EV) range extender is an external system that helps increase vehicle range to support long-distance travel. Increasing the adoption of electric vehicles to reduce CO2 emissions, coupled with government initiatives for EVs across the globe, is expected to boost the global EV range extender market during the forecast period.Factors such as growing demand for electric vehicles and engine downsizing are expected to fuel growth in the global market. The report covers all the major trends and drivers playing a vital role in the growth of the global EV range extender market. The market has been segmented based on region, product type, component type, and vehicle type.
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Market Dynamics
The global Electric Vehicle (EV) Range Extender market growth is mainly driven by the rising adoption of EVs for the daily commute and favorable government policies. According to International Energy Agency (IEA), in 2017, more than one million EVs were sold globally, with countries like Norway, China, and the US dominating the global EVs market in terms of market share. In the same year, globally, more than three million EVs were in stock. Therefore, it is expected to drive the demand for EV range extenders over the forecast period.Moreover, increasing demand for driving range extension of electric vehicles is further pushing the market growth. However, the high costs of batteries, limited mileage range, and lack of charging infrastructure can hinder the market growth.
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Segment Analysis
By Product Type, the global Electric Vehicle (EV) Range Extender Market is segmented into Fuel Cell Range Extender, Internal Combustion Engine (ICE) Range Extender, and Others. In 2018, the ICE range extender accounted for the largest in the global market and is expected to witness a higher CAGR over the forecast period. The ICE range extender segment is the most chosen and preferred type of electric vehicle range extender. This is due to the lower cost, which makes the range extenders economical. Various automotive companies in the market are currently offering ICE range extender electric vehicles.
Competitive Landscape
Some major players in the market are Magna International, MAHLE, Rheinmetall, Plug Power, and Ballard Power Systems. Other prominent players in the market are Anstalt für Verbrennungskraftmaschinen (AVL), Mobile Systems BV, BMW Group, Volvo Car Corporation, and General Motors.
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