Global On-board Charger Market Share Projected to Reach USD 16.06 Billion by 2030 | CAGR: 17.5%: Polaris Market Research

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Global On-board Charger Market Share Projected to Reach USD 16.06 Billion by 2030 | CAGR: 17.5%: Polaris Market Research

May 03
20:15 2022
Global On-board Charger Market Share Projected to Reach USD 16.06 Billion by 2030 | CAGR: 17.5%: Polaris Market Research
According to the research report, the global on-board charger market size & share was valued at USD 3.99 billion in 2021 and is expected to reach USD 16.06 Billion by 2030, to grow at a CAGR of 17.5% during the forecast period.

According to the research report, the global on-board charger market size & share was valued at USD 3.99 billion in 2021 and is expected to reach USD 16.06 Billion by 2030, to grow at a CAGR of 17.5% during the forecast period.

An on-board charger is utilized in an electric vehicle or hybrid electric vehicle to charge the traction battery. The on-board charging system converts the AC input from the grid to the DC input that charges the battery. If the car is charged with the direct current, then the on-board charger is avoided, and the current is sent through the BMS directly to the battery. Thus the on-board charger is not utilized during DC charging, but this charging style has greater demands on the BMS.

The role of the on-board charger is to permit to regulate the current and voltage at which the battery requires to be charged, therefore, taking care of the lifespan of the battery. The charger provides either persistent current or continual voltage charging; both chargings are simple to operate. In continual current charging, there is escalated efficiency and charging speed. However, there is a probability that the battery will be overcharged at a delayed stage, thereby reducing the lifespan. Therefore, the charger guarantees that it is originally charged with a constant current, thus sustaining efficiency and speed. When the voltage at both ends of the battery extends to a specific amplitude, it changes to persistent voltage charging.

Request Sample Copy of Research Report @ https://www.polarismarketresearch.com/industry-analysis/on-board-charger-market/request-for-sample

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Highlights of the report

  • This study showcases the analytical depiction of the electric vehicle on-board charger market together with the prevalent trends and estimations of the future to portray the impending pockets of investment
  • The comprehensive market potential is decided to comprehend the trends that are profitable to authorize stakeholders to acquire a more robust foothold in the market
  • The report showcases information connected to restraints, key drivers, and opportunities with a comprehensive influence analysis
  • The prevalent market is quantitatively analyzed over the forecast period to underscore the financial proficiency of the market
  • Porter’s five forces analysis demonstrates the potency of buyers and suppliers

 

Top Market Players Are:

  • AVID Technology Limited
  • Bel Fuse Inc.
  • BRUSA Elektronik AG
  • Delta Energy Systems
  • Eaton
  • Ficosa Internacional SA
  • innolectric AG
  • Stercom Power Solutions GmbH
  • STMicroelectronics
  • Toyota Industries Corporation

 

Request for Discount on this Report Before Purchase @ https://www.polarismarketresearch.com/industry-analysis/on-board-charger-market/request-for-discount-pricing

On-board charger market: Growth leading factors

Advancement in electric vehicle charging systems pushes the growth of the on-board charger market. The reason for decreased power loss and increase in power saving results in growing power density and overall enhanced performance of the batteries. The increasing technological needs worldwide because of environmental issues have caused research and development investment in electric vehicle technology.

Various automakers are financing the advancement of electric vehicles. For instance, in July 2019, Fiat Chrysler Automobiles NV declared its plans to invest $788 million to structure a production line for the new electric version of its Fiat 500 minicar. The production line will make almost 80,000 units per year. The growing investments lead to overall cost reduction and obtainability at an affordable price, which further assists in developing the on-board charger market.

The covid-19 pandemic had a heavy negative influence on global electric vehicle sales in the first half of 2020. There was a decline in consumer spending because of government-imposed restrictions in several countries. The preferences of purchasing exceedingly impacted the environment of the market. People spent less on luxury products which led to lesser sales.

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On-board charger market: Report Scope

Report Attribute

Details

Market Size 2021 Value

USD 3.99 billion

Market Outlook for 2030

USD 16.06 billion

Expected CAGR Growth

17.5% from 2022 – 2030

Base year

2020

Forecast period

2022 – 2030

Segments covered

By Power Output, By Vehicle, By Propulsion, By Region

Key Companies

AVID Technology Limited, Bel Fuse Inc., BRUSA Elektronik AG, Delta Energy Systems, Eaton, Ficosa Internacional SA, innolectric AG, Stercom Power Solutions GmbH, STMicroelectronics, and Toyota Industries Corporation.

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization Options

Customized purchase options are available to meet your research needs.

 

On-board charger market: key segmentation

  • Insight by power output, vehicle, propulsion, and region

 

By power output, the 11KW to 22KW segment dominated the market because 11-22KW chargers are tri-phase AC chargers that charge an electric vehicle in two to four hours. BY vehicle, the passenger car segment dominated the market as the increasing sales of electric passenger cars globally are anticipated to generate the demand for on-board chargers. By propulsion, the BEV segment dominated the market. It accounted for a significant share of the revenue as in battery electric vehicles (BEV), the propulsion is offered through the plug-in charged battery. Therefore, this rise in BEV vehicles is driving the segment growth.

By region, the Asia Pacific region influenced the market and accounted for a significant global revenue share. The escalation in government efforts to encourage electric vehicle sales in countries like India and China highlights regional market growth. Europe is anticipated to register prominent growth over the forecast period. The players in Europe are constantly making efforts to extend their EV offerings, which is driving the demand for on-board chargers. As per the vision of BMW, the company has plotted to electrify its Sedan, SUVs, and mini vehicles. Simultaneously, a growth in subsidies offered for buying electric cars is one of the prominent factors pushing the market growth in the region.

Browse the full “On-board Charger Market Share, Size, Trends, Industry Analysis Report, By Power Output (Less than 11kW, 11kW to 22kW, More than 22kW); By Vehicle (Passenger Cars, Buses, Vans, Medium & Heavy-Duty Vehicles, Boats, Others); By Propulsion; By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/on-board-charger-market

Important Questions Being Answered by The Market Report

  • What is the market size and growth?
  • What are the new competitive advancements in the on-board charger market?
  • How be sample reports or company profiles of the on-board charger market obtained?
  • Who are the potential customers?
  • Which are the leading players?
  • How company profiles of the top ten players in the on-board charger market be obtained?

 

The market primarily depends on the power output, vehicle, propulsion, and region

On-board charger market: By power output

  • Less than 11 kW
  • 11 kW to 22 kW
  • More than 22 kW

 

On-board charger market: By vehicle

  • Passenger Cars
  • Buses
  • Vans
  • Medium & Heavy-Duty Vehicles
  • Boats
  • Others

 

On-board charger market: By propulsion

  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)

 

About Us:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.

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