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The Global On-Board Charger Market size is estimated to grow at a CAGR of around 16.5% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: On-Board Charger Market
Global On-Board Charger Market Driver: Rising Adoption of EVs Driving Growth & Expansion
With the growing awareness about environmental issues more and more people are shifting to EVs as it is cost-efficient, we have seen an increased demand in the sector all over the globe. Governments around the world are working on multiple ways to boost the adoption of electric vehicles. Multiple levels of OBCs are being developed to support the growth of EVs in the market. Its, high usage specifically in the transport and passenger vehicle industry is augmenting the size & volume of the on-board charger industry. The applications of OBCs have gone way beyond passenger cars as the adoption of EVs has already expanded up to commercial vehicles, two-wheelers, and public transport and all of them require on-board chargers to function thus boosting the revenue growth of the market.
The rising adoption is creating the need for fast charging solutions to cater to more customers in less time and provide them with the best solutions to their charging needs. Advanced OBCs are being developed to support rapid charging, enhancing the overall EV user experience. With this, the manufacturers are also focusing on increasing the battery life and reduction in energy loss to match the expectations and requirements of the growing EV market. Thus, the rising adoption of electric vehicles is a significant driver of growth of the Global On-Board Charger Market. The increasing number of EVs on the road is creating a robust demand for OBCs. This trend is expected to continue through 2030, shaping the future landscape of the automotive and charging infrastructure industries.
Scope of the Report and On-Board Charger Market Segmentation
By Propulsion Type
-Battery Electric Vehicle [BEV]
-Plug-in Hybrid Electric Vehicle [PHEV]
By Power Output
-Less than 10 KW
-10 KW–20 KW
-More than 20 KW
By Vehicle Type
-Passenger Vehicles
-Commercial Vehicle
- Passenger vehicles include electric cars and light-duty electric vehicles. This segment has a market share of approx. 70% of the market. Strong dominant growth is expected as there is high demand in this segment.
By End-User
-OEMs
-Aftermarket
Top leading companies in the On-Board Charger Market includes:
BRUSA Elektronik AG, Current Ways Inc., Bel Power solution, Innoelectric GmbH, Toyota Industries Corporation, Stercom Power Solutions GmbH, Eaton, Delphi Technologies, Xepics Italia SRL, Infineon Technologies AG, AVID Technology Limited, Hangzhou Aodi Electronic Control Co., Ltd., STMICROELECTRONICS, Ficosa Internacional SA. and others
On-Board Charger Market Development
- In March 2023: Toyota Industries Corporation announced the launch of a new generation of on-board chargers featuring high-efficiency silicon carbide (SiC) technology in their press release.
- In March 2023: Delphi Technologies announced the launch of their latest on-board charger for high-performance EVs featuring compact design and enhanced efficiency.
For more detailed information about the On-Board Charger market report, click here – https://www.marknteladvisors.com/research-library/global-on-board-charger-market.html
Geographical analysis:
North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy
Asia-Pacific: China, India, Japan
South America: Brazil, Others
Middle East & Africa: GCC, South Africa
- According to the data, Europe currently holds the most of the global market share i.e. 35% approx.
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