New York, Feb. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Electric Vehicle Range Extender Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05865849/?utm_source=GNW
- Additionally, automotive industry players have been collaborating in the areas of battery development or other aspects of EV manufacturing, to meet the growing emission standards and demand for extended range EV models during the forecast period.
- Asia-Pacific is expected to capture a major share of more than 30% in the global market, followed by Europe and North America. As majority of automotive industry players companies in the Asia-Pacific, especially in China, India and Japan have been expanding their production capacities to capture the growing the demand in the region during the forecast period.
Scope of the Report
EV range extender is an auxiliary power source unit equipped in EVs, to improve the vehicle’s range during exhaustion of battery capacity after covering certain distance. EV range extenders have been classified into thermodynamics or electrochemical sources. Electric generator is a thermodynamic source of energy that has an engine as a prime mover. While fuel cells are electrochemical sources of energy that have been used as range extenders in EVs.
The aforementioned EV range extenders have been considered in the scope of the market.
Key Market Trends
Fuel Cell Range Extender to Witness Faster Growth Rate
Fuel cell range extenders are expected to capture a significant share in the market during the forecast period, owing to the several on-going developments towards fuel cell range extender market. For instances:
- In Europe, country like Germany, where H2 MOBILITY Deutschland Group members had showcased hydrogen-powered e-mobility plans at Hannover Messe 2019. e.GO REX GmbH, one of the group members, is advancing the development of a scalable fuel-cell range extender for electric vehicles.
- In February 2019, PowerCell Sweden AB had received an order for two MS-30 fuel cell systems from a global automotive tier 1 supplier for delivery Q1/Q2 2019. The system built around PowerCell’s fuel cell stack S2 and with an effect of 30 kW. These systems will be installed as range extenders, REX, in the vehicles for tests in China.
- In September 2019, Blue World Technologies announced that it has started construction of its world’s largest methanol fuel cell factory at the Port of Aalborg, Denmark. The methanol fuel cell acts a range extender delivering long range, fast refueling with a liquid fuel as well as addressing environmental pollution. The factory anticipates its annual production capacity of 750 kW, which is equivalent to 50,000 fuel cell units.
Asia-Pacific Expected to Capture a Major Market Share
Asia-Pacific is expected to see faster growth in the market studied, owing to the trends like increasing number of OEMs, majorly in China and Japan, offering EVs with range extenders as well as growing collaborations of the industry players in EV range extender business. For instances,
In September 2019, AIWAYS Automobile Co., Ltd. (AIWAYS) had started preorders for its intelligent pure-electric SUV U5 models during the Chengdu Motor Show 2019.These models is equipped with AIWAY’s patented range extender battery pack B.
In December 2018, Ceres Power and Weichai Power announced their long-term strategic collaboration. A new joint development agreement (JDA) worth GBP 9 million announced to Ceres for the continued development of a first range extender product for electric buses in China. Ceres and Weichai will invest in a major new fuel cell manufacturing facility in Shandong, China, following successful trials.
Competitive Landscape
Some of the major players, like Mahle International GmbH, Rheinmetall Automotive, FEV Europe GmbH, etc., have captured significant shares in the market.
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Read the full report: https://www.reportlinker.com/p05865849/?utm_source=GNW
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The global electric vehicle range extender market is expected to register a CAGR of 7.63%, during the forecast period, 2019
Market Overview The global electric vehicle range extender market is expected to register a CAGR of 7. 63%, during the forecast period, 2019-2024. - With growing government support towards promotion of electric vehicles and increasing demand for long range driving capability of electric vehicles are few factors that have been driving the EV range extender market growth.
| Source: ReportLinker