According to the latest report by IMARC Group, titled “Electric Vehicle Range Extender Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global electric vehicle range extender market size reached US$ 1.4 Billion in 2022. An electric vehicle range extender (EVRE) is an add-on system that prolongs the range of an electric vehicle by providing an additional power source to supplement the vehicle's internal combustion engine (ICE). It consists of a small generator and a battery system, which are used to extend the electric vehicle's range while still utilizing energy from the vehicle's internal gasoline or diesel engine. EVRE also allows the driver to tackle more challenging terrain by facilitating more control over driving operations. In addition to this, it helps lower greenhouse gas (GHG) emissions by reducing the demand for petroleum-based fuels as they enable the use of electricity produced from renewable sources. Some of the standard EVREs include ICEs, fuel cells, and other engine types.
Global Electric Vehicle Range Extender Market Trends:
The rising demand for electronic vehicles (EVs) due to the escalating environmental concerns among consumers and the increasing need to reduce the dependence on fossil fuels, reduce emissions, and adopt a more sustainable transport system represents the key factor driving the market growth. Moreover, governments around the world are offering incentives, such as tax breaks, subsidies, and purchase assistance, to encourage the adoption of electric vehicles and range extenders and support renewable energy resources, which, in turn, are aiding in market expansion. In addition to this, the advent of clean EVREs that offer electric propulsion with zero local carbon dioxide (CO2) emissions is propelling the market forward. These innovative ranger extenders feature compact and cost-effective micro gas turbines and solid oxide fuel cells (SOFCs) that offer high power density and can be paired with an EV platform. Furthermore, favorable advancements in battery technologies have enabled quick recharge capabilities. This, along with significant improvements in charging infrastructure providing greater convenience for electric vehicle owners, is contributing to the market growth. Besides this, rapid urbanization, the emergence of smart cities, inflating disposable income levels, surging fuel prices, the growing demand for long-range electric cars, buses, and trucks, and ongoing research and development (R&D) activities and innovations in range extender technologies are strengthening the market growth. Looking forward, the market value is projected to reach US$ 2.5 Billion by 2028, expanding at a CAGR of 10.2% during 2023-2028.
- Based on the type, the market is categorized into fuel cell range extender, ICE range extender, and others.
- On the basis of the component, the market has been segregated into battery pack, power converter, generator, and electric motor.
- Based on the vehicle type, the market is bifurcated into passenger and commercial vehicle.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being AB Volvo, AVL, Ballard Power Systems Inc., Bayerische Motoren Werke AG, Ceres Power, Emoss Mobile Systems B.V. (Precision Camshafts Limited), General Motors Company, Magna International Inc., MAHLE GmbH, Nissan Motor Co. Ltd. (Groupe Renault) and Rheinmetall AG.
|Base Year of the Analysis
||Type, Component, Vehicle Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AB Volvo, AVL, Ballard Power Systems Inc., Bayerische Motoren Werke AG, Ceres Power, Emoss Mobile Systems B.V. (Precision Camshafts Limited), General Motors Company, Magna International Inc., MAHLE GmbH, Nissan Motor Co. Ltd. (Groupe Renault) and Rheinmetall AG.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800