Global On-Board Charger Market, By Power Output (Less than 11 kW, 11 kW to 22 kW and More than 22 kW), Vehicle Type (Passenger Car, Buses, Vans, Medium and Heavy Duty Vehicles, Boats and Others), Propulsion Type (Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights: Global On-Board Charger Market
Data Bridge Market Research analyses that the on-board charger market would exhibit a CAGR of 17.20% for the forecast period. Growing manufacturing rate of passenger vehicles around the globe on daily basis, increased demand of energy efficient transportation systems, growth and expansion of automotive industry especially in the developing economies and growing concerns regarding environmental pollution coupled with the global aim to reduce the carbon emissions are the major factors attributable to the growth of on-board charger market. Therefore, the market value would rocket up to USD 16.36 billion by 2029.
From the name itself, it is clear that the on-board chargers are used to convert the alternate current (AC) power to direct current (DC) voltage. On-board chargers are used to charge the battery packs in a vehicle which in turn transfers high kilowatts of power to the engine. In other words, on-board chargers are manufactured to charge and power the batteries of a vehicle. On-board chargers are generally designed for lower kilowatts of power transfer from the alternate current (AC) grid while the vehicle is parking.
Growth in the level of investments for research and development activities and rising number of electric stations especially in the developing economies will foster in growth in the on-board charger market value. Rising initiatives by the government to promote the manufacturing of electric vehicles coupled with rising modernization in the production techniques will also create lucrative growth opportunities for the on-board charger market. Growth in the technological advancements and growth in the demand from the emerging economies will also foster the on-board charger market growth. Growing expenditure by the government to strengthen the semiconductors industry will further carve the way for the growth of the on-board charger market.
However, lack of technological expertise in the developing and underdeveloped economies will pose a major challenge to the on-board charger market growth rate. High costs involved with technological innovations and rise in the cost of research and development activities will hamper the on-board charger market growth rate. Lack of standardization pertaining to electric vehicle charging will also restrict the scope of growth for the on-board charger market.
This on-board charger market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on on-board charger market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
On-Board Charger Market Scope and Market Size
The global on-board charger market is segmented on the basis of power output, vehicle type and propulsion type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of power output, the on-board charger market is segmented into less than 11 kW, 11 kW to 22 kW and more than 22 kW.
- The on-board charger market is segmented in terms of market value, volume, market opportunities and niches into multiple applications. The vehicle type segment for electro diesel locomotive market includes passenger car, buses, vans, medium and heavy duty vehicles, boats and others.
- Based on propulsion type, the on-board charger market is segmented into battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV).
On-Board Charger Market Country Level Analysis
The global on-board charger market is analysed and market size insights and trends are provided by country, power output, vehicle type and propulsion type as referenced above.
The countries covered in the on-board charger market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the on-board charger market and will continue to flourish its trend of dominance during the forecast period owing to the strong network of rail system and increasing research and development activities. Asia-Pacific region is set to witness unprecedented growth during the forecast period and register the highest CAGR. This is because of the growth and expansion of automotive sector in this region, rise in government efforts for promoting electric vehicle sales in countries such as China and India and ever-expanding railway network.
The country section of the on-board charger market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and On-Board Charger Market Share Analysis
The on-board charger market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to on-board charger market.
Some of the major players operating in the on-board charger market are BRUSA Elektroni, Bel Fuse Inc., Current Ways, TOYOTA INDUSTRIES CORPORATION, innolectric AG, Eaton, Cicero Design GmbH, Xepics Italia SRL, Delphi Technologies, AVID Technology Limited, Infineon Technologies AG, STMicroelectronics, Hangzhou Aodi Electronic Control Co., Ltd., ABB, Delta Energy Systems, Siemens, HYUNDAI CORPORATION., Toshiba Infrastructure Systems & Solutions Corporation, Hitachi, Ltd., and Ficosa Internacional SA., among others.
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