On-Board Charger Market Size, Demand, Key Players Analysis & Forecast 2024-2030
On-Board Charger Market Size, Demand, Key Players Analysis & Forecast 2024-2030
According to MarkNtel Advisors study the Global On-Board Charger Market size is valued at around USD 6.2 billion in 2024 and is estimated to grow at a CAGR of around 16.5% during the forecast period, i.e., 2024-30.
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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.
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
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
By End-User
OEMs
Aftermarket
Battery Electric Vehicles (BEVs) are fully electric vehicles that operate solely on electric power stored in their battery packs.
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.
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.
By Region
North America
South America
Europe
Asia-Pacific
Middle East & Africa
According to the data, Europe currently holds the most of the global market share i.e. 35% approx..
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