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(Transportation-News.com, October 17, 2019 ) Market Overview:
Factors such as growing demand for electric vehicles and engine downsizing is 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 EV Range Extender Market. The market has been segmented on the basis of region, product type, component type, and vehicle type.
An electric vehicle (EV) range extender is an external system that helps increase vehicle range to support long-distance travel. Increasing adoption of electric vehicles to reduce CO2 emissions, coupled with government initiatives for EVs across the globe, is expected to boost EV Range Extender Market during the forecast period.
Market Dynamics:
The 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 EVs market in terms of market share.
Moreover, increasing demand for driving range extension of electric vehicles is further pushing the market growth. However, high costs of batteries, limited mileage range, and lack of charging infrastructure can hinder the market growth.
Market Segmentation:
By Product Type, the Electric Vehicle (EV) Range Extender Market is segmented into Fuel Cell Range Extender, Internal Combustion Engine (ICE) Range Extender, and Others.
By Component Type, the Electric Vehicle (EV) Range Extender Market is segmented into Battery Pack, Generator, Power Converter, and Electric Motor. In 2018, battery pack dominated the global market due to its high price as compared to other components. Battery manufacturers are now focusing on economies of scale for reducing the battery price.
Geographical Analysis:
By geography, the Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, APAC held the largest market share in the Electric Vehicle (EV) Range Extender Market. Increasingly stringent regulations on carbon emissions coupled, government incentives on the purchase of an electric vehicle, and rising fuel prices further will boost the demand for an electric vehicle range extender.
However, Europe is expected to witness a higher CAGR during the forecast period. Increasing demand for driving range extension of electric vehicles and government incentives for the purchase of electric vehicle range extenders would drive the European electric vehicle range extender market.
Competitive Analysis:
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.
View full report: https://www.datamintelligence.com/research-report/electric-vehicle-range-extender-market
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DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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