Electric Vehicle Range Extender Market by Type (ICE Range Extender, Fuel Cell Range Extender, and Others), Component (Battery Pack, Generator, Power Converter, and Electric Motor), Vehicle (PC and CV), and Region - Global Forecast to 2025
Electric Vehicle Range Extender Market
The increasing demand for extended driving range in electric vehicles is the most prominent factor driving the EV range extender market. Despite growing popularity of electric vehicles, their driving range remains a major concern. In addition, growing efforts towards engine downsizing is another major factor driving the market growth. Fuel cell and ICE are the two popular range extenders available in the market. However, growing advancement in the EV segment towards driving range improvement would act as a major challenge for the range extender market growth.
Key Drivers:
- Growing demand for increased driving range in electric vehicles
- Engine downsizing
- Higher demand for fuel cell range extenders
- Growing development in new range extender types
Key Restraints:
- Improving driving range in EVs
- High cost of electric vehicle range extender
Top 10 Players:
- Magna International: Magna was established in 1957 and is headquartered in Aurora, Canada. The company manufactures and sells automotive systems, assemblies, modules and components for light duty vehicles and heavy commercial vehicles. The company operates through eight business segments, namely, body systems & chassis systems, powertrain systems and exterior systems, seating systems, tooling, engineering & others, visionand electronic systems, closure systems and complete vehicle assembly. The offers hydrogen fuel-cell platform as a range extender for battery electric vehicles. Magna has 335 manufacturing operations and 96 product development, engineering and sales centers across 28 countries.
- MAHLE: MAHLE was founded in 1920 and is headquartered in Stuttgart, Germany. The company provides engine systems & components, filtration & engine peripherals, thermal management products, aftermarket services, electric drive systems, electric power steering, battery state of health test modules etc. It offers electric range extender engine for electric vehicles to OEMs. The company’s range extender engine offers an electric range driving of 65km. MAHLE has 170 production facilities with an extensive distribution network in more than 38 countries for OEM as well as aftermarket.
- Rheinmetall: Rheinmetall was founded in 1889 and is headquartered in Dusseldorf, Germany. The company operates in two sectors - Automotive, and Defense. The company’s automotive segment specializes in engine components and related services. It supplies modules, pistons, bearings, actuators, valves, pumps and components for air supply, emission control, cooling and lubrication to the OEMs. The company offers heater/cooler modules for extending the driving range of electric buses. The company is working with FEV GmbH (Germany) for testing a range extender for electric vehicles. The testing has been done in FIAT 500. The company has diverse product portfolio including mobility solutions, mechatronics, hard parts and motor services.
- Plug Power: Plug Power was founded in 1997 and is headquartered in Latham, US. The company operates through five segments, namely, sales of fuel cell systems & related infrastructure, services performed on fuel cell systems & related infrastructure, power purchase agreements, fuel delivered to customers and others. The company is focused on developing proton exchange membrane (PEM), fuel cell and fuel processing technologies, fuel cell battery hybrid technologies and dispensing infrastructure. The company is also developing a fuel cell range extender electric vehicle can extend the driving range by approximately 80 miles. The company sells its products in Europe and North America through its sales force and dealer networks.
- AVL: AVL was established in 1948 and is headquartered in Graz, Austria. AVL develops hybrid powertrain system, electric powertrain system and instrumentation and test systems. It provides powertrain elements such as batteries, controls and electronics, electric drives, engines, transmission and vehicle systems. The company offers the entire range of powertrain system for extended range electric vehicles.
- Ballard Power Systems
- FEV
- Delta Motorsport
- Ceres Power
- Nissan
- General Motors
- BMW
Other Regional Players:
- Bjorksten Bit 7
- Wrightspeed
- Nikola Motor Company
- Ep Tender
- Arcola Energy
- Fagor Ederlan
- Advanced Innovative Engineering
- Ashwoods Electric Motors
- Horizon Fuel Cell Technologies
- Mazda
- OBRIST Powertrain
Top Type:
- ICE Range Extender
- Fuel Cell Range Extender
- Others
Top Component:
- Battery Pack
- Generator
- Power Converter
-
Electric Motor
- ICE range extender is currently the most common type used worldwide and is expected to remain the dominant segment throughout the forecast period
- Based on component, battery pack is the largest segment in electric vehicle range extender market; power converter is expected to register highest growth rate
- Asia Pacific forms the largest market for electric vehicle extender market, primarily due to Japan and China; Europe is expected to register the highest growth rate during the forecast period
The electric vehicle range extender market was valued at 200,847 units in 2017 and is projected to reach 479,027 units by 2025, at a CAGR of 11.89% during the forecast period. The base year for the study is 2017 and the forecast period is 2018 to 2025.
The report analyzes and forecasts the market size, in terms of volume (units and 000’units) and value (USD million), of the market. The report segments the market and forecasts its size, by volume, on the basis of vehicle type, type, and region. It also forecasts the market, by value, for component segment. The report also provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). It strategically profiles the key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
The research methodology used in the report involves various secondary sources such as China Association of Automobile Manufacturers (CAAM), European Automobile Manufacturers Association (ACEA), Environmental Protection Agency (EPA), Society of Indian Automobile Manufacturers (SIAM), Japan Automobile Manufacturers Association (JAMA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA). Experts from related industries and suppliers have been interviewed to understand the future trends in the market. The bottom-up approach has been used to estimate and validate the size of the global market. In the bottom-up approach, the market size, by volume, is derived by identifying the country-wise sales volumes and analyzing the demand trends. Summation of the country-wise markets gives the regional market, and further summation of the regional markets provides the global market. The market size, by value, is provided for component segment only. It is derived by multiplying the average selling price of components with the volume of market of that region.
The figure given below illustrates the break-up of the profile of industry experts who participated in primary discussions.
To know about the assumptions considered for the study, download the pdf brochure
The ecosystem of the electric vehicle range extender market consists of tier I suppliers such as Magna International (Canada), MAHLE (Germany), Rheinmetall (Germany), Plug Power (US), and AVL (Austria).
Target Audience
- Automobile manufacturers
- Distributors and suppliers of electric vehicle range extender
- Industry associations and automotive experts
- Electric vehicle range extender manufacturers
- Automotive component manufacturers
- Electric vehicle manufacturers
- Tier 1, Tier 2, and Tier 3 suppliers
Want to explore hidden markets that can drive new revenue in Electric Vehicle Range Extender Market?
Scope of the Report
Want to explore hidden markets that can drive new revenue in Electric Vehicle Range Extender Market?
By Type
- ICE Range Extender
- Fuel Cell Range Extender
- Others
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Component
- Battery Pack
- Generator
- Power Converter
- Electric Motor
By Region
- Asia Pacific
- Europe
- North America
Available Customizations
Markets and Markets offers the following customizations for this market report:
- Profiling of additional market players (Up to 3)
- Competitive Leadership Mapping (Micro-quadrant)
The electric vehicle range extender market is estimated to be 218,129 units in 2018 and is projected to reach 479,027 units by 2025, at a CAGR of 11.89% during the forecast period. Increasing demand for driving range extension of electric vehicles is the key factor driving the market.
The market has been segmented by type, vehicle type, component, and region. Passenger car is projected to be the fastest growing segment of the market. Governments of countries such as China, US, and Germany are providing incentives for the purchase of range extender electric cars. Also, several governments are supporting the zero-emission fuel cell range extender technology. Government incentives are expected to drive the passenger car range extender market during the forecast period.
The market has been segmented by type into ICE range extender, fuel cell range extender, and others. ICE range extender is estimated to be the largest segment of the market, by type. The market for ICE range extender would be driven by its lower cost than a fuel cell range extender. OEMs such as BMW (Germany), General Motors (US), BYD (China), JAC (China), and Nissan (Japan) are currently offering ICE range extender electric vehicles. For instance, BMW offers BMW i3 REx, which delivers an additional driving range of approximately 156 km. In April 2018, BMW announced that it plans to launch BMW iX3 with ICE range extender. In December 2017, Nissan announced its plan to introduce Nissan Note e-Power in India.
The Asia Pacific region is estimated to dominate the market, in terms of volume, in 2018. The increasing demand for driving range extension of electric vehicles and government incentives on the purchase of electric vehicle range extender would fuel the growth of the market in this region.
Increasing developments for the extension of the driving range of BEVs and enhanced focus of OEMs towards reducing the price of the battery are the key restraints for the growth of electric vehicle range extender market. OEMs such as Nissan (Japan), Mahindra (India), Volkswagen (Germany), General Motors (US), Tesla (US), and others are focusing towards increasing the driving range of an electric vehicle with the help of efficient batteries. In addition, battery manufacturers are also focusing towards economies of scale for reducing the battery price. These factors can hinder the growth of the market.
Rheinmetall was founded in 1889 and is headquartered in Dusseldorf, Germany. The company operates in two sectors, namely, automotive and defense. The company’s automotive segment specializes in engine components and related services. It supplies modules, pistons, bearings, actuators, valves, pumps, and components for air supply, emission control, cooling, and lubrication to the OEMs. The company offers heater/cooler modules for extending the driving range of electric buses under the automotive segment. The company is working with FEV (Germany) for testing a range extender for electric vehicles. In January 2013, the company successfully tested electric vehicle range extender FIAT 500 with FEV. The company employed 21,610 people worldwide as of December 2017.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Exclusive indicates content/data unique to MarketsandMarkets and not available with any competitors.
Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Electric Vehicle Range Extender Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency & Pricing
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources
2.1.1.2 Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Sampling Techniques & Data Collection Methods
2.1.2.2 Primary Participants
2.2 Electric Vehicle Range Extender Market Size Estimation
2.2.1 Bottom-Up Approach
2.3 Data Triangulation
2.4 Assumptions
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in the Market
4.2 Electric Vehicle Range Extender Market, By Region, 2018 & 2025
4.3 Market, By Type, 2018
4.4 Market, By Component, 2018
4.5 Market, By Vehicle Type, 2018
5 Electric Vehicle Range Extender Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Driving Range Extension of the Electric Vehicles
5.2.1.2 Engine Downsizing
5.2.2 Restraints
5.2.2.1 Increasing Developments for the Extension of Driving Range of Bevs
5.2.2.2 Enhanced Focus of OEMs Towards Reducing the Price of the Battery
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Fuel Cell Range Extender
5.2.3.2 Development of New Types of Range Extenders
5.2.4 Challenges
5.2.4.1 High Cost of Electric Vehicle Range Extender
6 Electric Vehicle Range Extender Market, By Type (Page No. - 42)
6.1 Introduction
6.2 Fuel Cell Range Extender
6.3 ICE Range Extender
6.4 Others
7 Electric Vehicle Range Extender Market, By Component Type (Page No. - 48)
7.1 Introduction
7.2 Battery Pack
7.3 Power Converter
7.4 Generator
7.5 Electric Motor
8 Electric Vehicle Range Extender Market, By Vehicle Type (Page No. - 53)
8.1 Introduction
8.2 Passenger Car (PC)
8.3 Commercial Vehicle (CV)
9 Electric Vehicle Range Extender Market, By Region (Page No. - 59)
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.2 Japan
9.2.3 India
9.2.4 South Korea
9.3 Europe
9.3.1 Czech Republic
9.3.2 France
9.3.3 Germany
9.3.4 Italy
9.3.5 Poland
9.3.6 Spain
9.3.7 Switzerland
9.3.8 UK
9.4 North America
9.4.1 Canada
9.4.2 US
10 Competitive Landscape (Page No. - 75)
10.1 Overview
10.2 Electric Vehicle Range Extender Market Ranking Analysis
10.3 Competitive Situation & Trends
10.3.1 Product Developments
10.3.2 Agreements/Contracts/Collaborations
11 Company Profiles (Page No. - 80)
11.1 Key Players
11.1.1 Magna International
11.1.2 MAHLE
11.1.3 Rheinmetall
11.1.4 Plug Power
11.1.5 Ballard Power Systems
11.1.6 AVL
11.1.7 FEV
11.1.8 Delta Motorsport
11.1.9 Ceres Power
11.1.10 Nissan
11.1.11 General Motors
11.1.12 BMW
11.2 Key Players From Other Regions
11.2.1 North America
11.2.1.1 Bjorksten Bit 7 (BB7)
11.2.1.2 Wrightspeed
11.2.1.3 Nikola Motor Company
11.2.2 Europe
11.2.2.1 EP Tender
11.2.2.2 Fagor Ederlan Group
11.2.2.3 Arcola Energy
11.2.2.4 Advanced Innovative Engineering
11.2.2.5 Ashwoods Electric Motors
11.2.2.6 Obrist Powertrain
11.2.2.7 Symbio
11.2.3 Asia Pacific
11.2.3.1 Horizon Fuel Cell Technologies
11.2.3.2 Mazda
12 Appendix (Page No. - 105)
12.1 Key Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.4 Available Customizations
12.4.1 Detailed Analysis and Profiling of Additional Countries (Up to 3)
12.4.1.1 Profiling of Additional Market Players (Up to 3)
12.4.1.2 Competitive Leadership Mapping (Micro-Quadrant)
12.5 Related Reports
12.6 Author Details
List of Tables (39 Tables)
Table 1 Announced Sales Bans for Ice Vehicles
Table 2 Overview of Driving Range Extension of Some Electric Vehicle Models
Table 3 Impact of Market Dynamics
Table 4 Electric Vehicle Range Extender Market, By Type, 2016–2025 ('000 Units)
Table 5 Fuel Cell Range Extender Market, By Region, 2016–2025 ('000 Units)
Table 6 Ice Range Extender Market, By Region, 2016–2025 ('000 Units)
Table 7 Others Range Extender Market, By Region, 2016–2025 ('000 Units)
Table 8 Market, By Component, 2016–2025 (USD Million)
Table 9 Battery Pack Market, By Region, 2016–2025 (USD Million)
Table 10 Power Converter Market, By Region, 2016–2025 (USD Million)
Table 11 Generator Market, By Region, 2016–2025 (USD Million)
Table 12 Electric Motor Market, By Region, 2016–2025 (USD Million)
Table 13 Market Size, By Vehicle Type, 2016–2025 (Thousand Units)
Table 14 List of Range Extender Electric Cars
Table 15 Passenger Car: Market Size, By Region, 2016–2025 ('000 Units)
Table 16 List of Range Extender Electric Trucks
Table 17 Commercial Vehicle: Market Size, By Region, 2016–2025 ('000 Units)
Table 18 Global Market, By Region, 2016–2025 (Units)
Table 19 Asia Pacific: Market, By Type, 2016–2025 (Units)
Table 20 China: Market, By Type, 2016–2025 (Units)
Table 21 Japan: Market, By Type, 2016–2025 (Units)
Table 22 India: Market, By Type, 2016–2025 (Units)
Table 23 South Korea: Market, By Type, 2016–2025 (Units)
Table 24 Europe: Market, By Type, 2016–2025 (Units)
Table 25 Czech Republic: Market, By Type, 2016–2025 (Units)
Table 26 France: Electric Vehicle Range Extender Market, By Type, 2016–2025 (Units)
Table 27 Germany: Market, By Type, 2016–2025 (Units)
Table 28 Italy: Market, By Type, 2016–2025 (Units)
Table 29 Poland: Market, By Type, 2016–2025 (Units)
Table 30 Spain: Market, By Type, 2016–2025 (Units)
Table 31 Switzerland: Market, By Type, 2016–2025 (Units)
Table 32 UK: Market, By Type, 2016–2025 (Units)
Table 33 North America: Market, By Type, 2016–2025 (Units)
Table 34 Canada: Market, By Type, 2016–2025 (Units)
Table 35 US: Market, By Type, 2016–2025 (Units)
Table 36 Electric Vehicle Range Extender Models
Table 37 Market Ranking: 2017
Table 38 New Product Developments, 2016–2018
Table 39 Agreements / Contracts /Collaborations, 2014–2018
List of Figures (37 Figures)
Figure 1 Automotive Market Segmentation
Figure 2 Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Electric Vehicle Range Extender Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market: Market Dynamics
Figure 7 Market, By Region, 2018 vs. 2025 (Units)
Figure 8 Market, By Type, 2018 vs. 2025 (000’ Units)
Figure 9 Increasing Demand for Driving Range Extension in Electric Vehicles is Expected to Drive the Market, 2018–30
Figure 10 Asia Pacific is Estimated to Be the Largest Market for Electric Vehicle Range Extender
Figure 11 Ice Range Extender is Estimated to Be the Largest Segment of Market, 2018
Figure 12 Battery Pack is Estimated to Be the Largest Segment of Market, 2018
Figure 13 Passenger Car is Estimated to Be the Largest Segment of Market, 2018
Figure 14 Market: Market Dynamics
Figure 15 Battery Cost (USD/KWH), 2009–2017
Figure 16 Market, By Type, 2018 vs. 2025 (‘000 Units)
Figure 17 Market, By Component, 2018 vs. 2025 (USD Million)
Figure 18 Market, By Vehicle Type, 2016 vs 2025 (Thousand Units)
Figure 19 Market: Geographic Growth Opportunities (2018–2025)
Figure 20 Asia Pacific: Market Snapshot
Figure 21 Germany is Projected to Be the Largest Market for Electric Vehicle Range Extender in Europe During the Forecast Period (2018–2025)
Figure 22 North America: Market Snapshot
Figure 23 Key Developments By Leading Players in the Market, 2014–2018
Figure 24 Magna International: Company Snapshot
Figure 25 Magna International: SWOT Analysis
Figure 26 MAHLE : Company Snapshot
Figure 27 MAHLE : SWOT Analysis
Figure 28 Rheinmetall: Company Snapshot
Figure 29 Rheinmetall: SWOT Analysis
Figure 30 Plug Power: Company Snapshot
Figure 31 Plug Power: SWOT Analysis
Figure 32 Ballard Power Systems: Company Snapshot
Figure 33 Ballard Power Systems: SWOT Analysis
Figure 34 Ceres Power: Company Snapshot
Figure 35 Nissan: Company Snapshot
Figure 36 General Motors: Company Snapshot
Figure 37 BMW: Company Snapshot
Growth opportunities and latent adjacency in Electric Vehicle Range Extender Market