Electric Vehicle Range Extender Market to Grow by USD 554.27 mn | Increasing Demand for Plug-in Hybrid Electric Vehicle to Drive Growth| Technavio
NEW YORK, Dec. 1, 2021 -- The electric vehicle range extender market size is expected to grow by USD 554.27 mn from 2020 to 2025. This market forecast report by Technavio helps businesses make confident decisions using thorough research and analysis.
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Some of the primary growth drivers for the electric vehicle range extender market are the increasing demand for plug-in hybrid electric vehicle, governing bodies promoting the sales of electric vehicles, and benefits associated with engine downsizing, according to Technavio. However, factors such as a decline in prices of lithium-ion batteries may hamper market growth.
Market Segmentation Highlights
- The electric vehicle range extender market has been segmented by application into passenger cars and commercial vehicles.
- The market share growth from the passenger car segment will be significant during the forecast period.
Regional Analysis
- Based on geography, the market has been segmented into APAC, North America, Europe, South America, and MEA.
- 67% of the growth is expected to originate from APAC.
- China and Japan are the key countries for the electric vehicle range extender market in APAC.
- Market growth in this region will be faster than the growth of the market in North America, Europe, South America, and MEA.
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Notes:
- The electric vehicle range extender market size is expected to accelerate at a CAGR of 9.12% during the forecast period.
- The electric vehicle range extender market is segmented by application (passenger cars and commercial vehicles) and geography (APAC, North America, Europe, South America, and MEA).
- The market is fragmented due to the presence of many vendors holding significant market share.
- The research report offers information on several market vendors, including AB Volvo, AVL List GmbH, Ballard Power Systems Inc., FEV Group GmbH, Magna International Inc., MAHLE GmbH, Nissan Motor Co. Ltd., Plug Power Inc., Tata Motors Ltd., and Tesla Inc.
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Electric Vehicle Range Extender Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.12% |
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Market growth 2021-2025 |
USD 554.27 million |
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Market structure |
Fragmented |
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YoY growth (%) |
6.50 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 67% |
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Key consumer countries |
China, US, Japan, Germany, and Norway |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
AB Volvo, AVL List GmbH, Ballard Power Systems Inc., FEV Group GmbH, Magna International Inc., MAHLE GmbH, Nissan Motor Co. Ltd., Plug Power Inc., Tata Motors Ltd., and Tesla Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
