The global demand for On-board Charger Market is presumed to reach the market size of nearly USD 19.01 MN by 2028 from USD 5.96 MN in 2021 with a CAGR of 18.02% under the study period 2022 - 2028.
An on-board charger (OBC) is a device that charges the traction battery of an electric vehicle (EV), hybrid electric vehicle (HEV), or plug-in hybrid car. An electric vehicle's on-board charger system transforms alternating current (AC) power into direct current (DC) energy that is stored in the battery. The AC level 1 on-board charger may be plugged into standard power outlets and used in electric vehicles.
Market Dynamics
Commercial electric rates applied to public chargers near roads, malls, and businesses are more than residential. This necessitates the use of on-board chargers in electric vehicles. One of the primary factors driving market expansion is the increase in the number of AC private and public charging stations worldwide. This type of charger is popular among consumers because it does not require any additional electrical work, lowering the overall installation cost. Additionally, approvals for AC Level 2 charging stations are significant reasons driving the market forward. Silicon carbide semiconductor technology is constantly being used to make on-board chargers since it has a high power density and a 98 percent efficiency rate. As a result, several firms are expanding their attention on supplying higher-power and more efficient silicon carbide on-board chargers, resulting in new market growth prospects.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of on-board charger. The growth and trends of on-board charger industry provide a holistic approach to this study.
Market Segmentation
This section of the on-board charger market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Power Output
- Less Than 11 Kw
- 11 Kw To 22 Kw
- More Than 22 Kw
By Vehicle Type
- Passenger Car
- Buses
- Vans
- Medium & Heavy Duty Vehicles
- Boats
- Others
By Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the On-board Charger market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global On-board Charger Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the on-board charger market include Bel Fuse Inc., Delta Energy Systems, STMicroelectronics, Toyota Industries Corporation, Eaton, Stercom Power Solutions GmbH, innolectric AG, BRUSA Elektronik AG, AVID Technology Limited, Ficosa Internacional SA. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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