LONDON--(BUSINESS WIRE)--Technavio has been monitoring the electric vehicle range extender market and it is poised to grow by USD 290.20 million during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the electric vehicle range extender market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
Based on segmentation by the application, which is the leading segment in the market?
The passenger cars are the leading segment in the market.
What are the major trends in the market?
The high cost of energy-efficient cars is the major trend in the market.
At what rate is the market projected to grow?
The market is projected to accelerate at a CAGR of over 5%.
Who are the top players in the market?
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., Tesla Inc. are the top players in the market.
What are the key market drivers and challenges?
The market is driven by the increasing demand for plug-in hybrid electric vehicles. However, the decline in the price of lithium-ion batteries will challenge growth.
How big is the APAC market?
67% of the market’s growth will originate from APAC during the forecast period.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major market participants. Although the increasing demand for plug-in hybrid electric vehicles will offer immense growth opportunities, the decline in the price of lithium-ion batteries is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this electric vehicle range extender market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Electric Vehicle Range Extender Market 2020-2024: Segmentation
The electric vehicle range extender market is segmented as below:
- Passenger Cars
- Commercial Vehicles
- North America
- South America
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Electric Vehicle Range Extender Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The electric vehicle range extender market report covers the following areas:
- Electric Vehicle Range Extender Market Size
- Electric Vehicle Range Extender Market Trends
- Electric Vehicle Range Extender Market Industry Analysis
This study identifies high cost of energy-efficient cars as one of the prime reasons driving the electric vehicle range extender market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Electric Vehicle Range Extender Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist electric vehicle range extender market growth during the next five years
- Estimation of the electric vehicle range extender market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electric vehicle range extender market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electric vehicle range extender market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Passenger cars - Market size and forecast 2019-2024
- Commercial vehicles - Market size and forecast 2019-2024
- Market opportunity by Application
- Customer landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 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.
- Tesla Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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.