What are the key driving forces behind the EV range extender market growth?
Rising demand for electric vehicles, government initiatives supporting EV adoption, and increasing concerns about range anxiety are the key factors driving market growth.
How big is the electric vehicle range extender market?
The global EV range extender market is expected to reach at a CAGR of 9.0% from 2024 to 2031.
Who are the major players in the EV range extender market?
Major players include Magna International, MAHLE, Rheinmetall, Plug Power, and Ballard Power Systems.
What are the challenges facing the EV range extender market?
High battery costs and limited mileage range of range extenders compared to fully electric vehicles are the key challenges hindering market growth.