EV Range Extender Market Segments by Application 2025
The report on the EV Range Extender market report includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the most important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely upon before investing. It furnishes with an affordable examination of the marketplace for better decision-making and assessment to place resources into it. The report analyses the weather and an entire detailed outlook of the most players that are likely to feature to the demand within the global EV Range Extender market within the upcoming years.
The market study additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the manufacturers and firms to contribute to EV Range Extender market growth. A number of the foremost conspicuous measures taken by the organizations are partnerships, mergers & acquisitions, and collaborations to increase their overall reach. The key players are likewise presenting newer product varieties within the market to enhance the merchandise portfolio by embracing the new innovation and completing it in their enterprise.
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The demand for the global EV range extender market is estimated to be worth 494,083 units by 2025, according to a new report by Million Insights, growing at a CAGR of 10.2% from 2018 to 2025. An EV range extender is a system that enables a higher vehicle range to allow long-distance journeys. High growth in the use of commercial and fully electric passenger vehicles to lower CO2 emissions along with superior performance abilities and expandable range is anticipated to stimulate industry growth.
The automotive industry is regarded as the largest oil consumer globally, contributing to increased pollution levels. Governments of several nations have imposed strict regulations on manufacturers to produce zero/low emission vehicles to help lower carbon emission.
On the other hand, governments of emerging nations like India and China are providing incentives to encourage the use of EVs. For example, the Indian government, in August 2018 announced to provide a subsidy of about 20% on the purchase of the latest EVs. However, less mileage range can pose a challenge concerning the consumers since it restricts the total distance covered.
In order to expand their market position and total profitability, major automobile companies are aiming at combining range extenders with their latest models. For example, BMW Group introduced the BMW i3 electric vehicle combined with an extended range solution, which allows customers to travel longer journeys.
Major industry participants are further investing substantial amount in R&D processes to create advanced range extender products for higher battery efficiency and driving range coupled with reduced battery costs. However, rising attention of OEMs to deploy range extender technology in next generation electric vehicle models along with the rising trade disputes between U.S. and China may pose a challenge to Electric Vehicle Range Extender market growth.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 EV Range Extender: Market Variables, Trends & Scope
Chapter 4 EV Range Extender: Product Estimates & Trend Analysis
Chapter 5 EV Range Extender: Application Estimates & Trend Analysis
Chapter 6 EV Range Extender: End-use Estimates & Trend Analysis
Chapter 7 EV Range Extender: Industrial End-use Estimates & Trend Analysis
Chapter 8 EV Range Extender: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 EV Range Extender: Manufacturers Company Profiles
Top Key Players of EV Range Extender Market:
heinmetall Automotive AG; Plug Power Inc.; Emoss Mobile Systems BV; AVL LIST GmbH; Nissan Motors Corporation; Magna International Inc.; General Motors Company; Volvo Car Corporation; and BMW Group.
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