Market Research Future (MRFR) has published a cooked research report on the “Global Electric Vehicle On board Charger Market” that contains information from 2022 to 2030. The Electric Vehicle On board Charger Market is estimated to register a CAGR of 20% during the forecast period of 2022 to 2030.
MRFR recognizes the following companies as the key players in the Electric Vehicle On board Charger Market— Bel Power solution, BRUSA Elektronik AG, Current Ways Inc., Delphi Technologies, Eaton Corporation, Infineon Technologies AG, Innoelectric GmbH, Stercom Power Solutions GmbH, Toyota Industries Corporation, and Xepics Italia SRL.
The Electric Vehicle On board Charger Market is accounted to register a CAGR of 20% during the forecast period and is estimated to reach USD 7 Billion by 2030.
The Electric Vehicle On-board Charger (EV OBC) market refers to the industry segment dedicated to the production, distribution, and development of on-board chargers for electric vehicles (EVs). An on-board charger is a crucial component of an electric vehicle's charging system that facilitates the transfer of electricity from an external power source (such as a charging station or wall outlet) to the vehicle's battery pack.
The Electric Vehicle On-board Charger market revolves around the production, development, and distribution of on-board chargers that are integral to charging electric vehicles. The market's growth and trajectory are closely tied to the expansion of the electric vehicle market and the ongoing technological innovations in the charging ecosystem.
The Electric Vehicle On board Charger Market has been segmented based on propulsion type and vehicle type.
On the basis of propulsion type, the market is segmented into BEV, HEV, and PHEV. BEVs are fully electric vehicles that rely solely on electric power stored in their batteries. The BEV owners typically prioritize faster charging times and longer driving ranges, which drive the demand for more powerful and efficient on board chargers.
Based on vehicle type, the market has been segmented into passenger cars, LCV, and HCV. Passenger cars have been at the forefront of the electric vehicle (EV) revolution, with many automakers introducing electric models to cater to environmentally conscious consumers.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Electric Vehicle On-board Charger Market Trends
The Electric Vehicle On board Charger Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Electric Vehicle On board Charger Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Electric Vehicle On board Charger Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Electric Vehicle On board Charger Market comprises of Middle East, Africa, and Latin America.
North America has been a significant market for electric vehicles and associated infrastructure, including on-board chargers. The United States and Canada have witnessed a growing number of electric vehicle models and an expanding charging network.
Europe is a global leader in electric vehicle adoption and charging infrastructure development. Countries like Norway, the Netherlands, and Germany have shown remarkable growth in EV sales. Balancing the demand for faster charging, interoperability across different charging standards, and maintaining consistent growth across all European countries are some of the challenges.
Asia-Pacific, led by China, has seen significant growth in electric vehicle sales and charging infrastructure. Government policies promoting EVs, partnerships between automakers and charging infrastructure providers, and advancements in battery technology are key drivers.
Furthermore, the rest of the world's Electric Vehicle On board Charger Market is divided into the Middle East, Africa, and Latin America. Other regions, including parts of Latin America, the Middle East, and Africa, are gradually entering the EV market. Adoption in these regions is often influenced by factors like oil prices, government policies, and infrastructure development.
Key Findings of the Study