The Electric Vehicle On-board Charger Market Size was valued at USD 5.52 billion in 2022 and is expected to reach USD 20.21 billion by 2030 and grow at a CAGR of 17.6% over the forecast period 2023-2030.
To charge the traction battery in an electric vehicle, hybrid electric vehicle, or plug-in hybrid car, an onboard charger is utilized. In an electric car, the onboard charger system transforms the AC input from the grid to a DC input, which then charges the battery. The electronic components of an onboard charger allow the battery to be recharged from the AC mains at home or from plugs found in private or public charging stations. In electric vehicles, the onboard charger is made up of a unit that comprises signal conditioning solutions, integrated high voltage isolation AC-DC converters, dual bridgeless power factor correction, gate drivers, error amplifiers, and other power electronic components.
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A electric vehicle charging infrastructure is a piece of grid infrastructure that is built along a street, in a parking lot, or in a house garage, with the primary goal of providing power to various types of electric vehicles for battery charging. When the car is plugged in, the AC charging system is usually an onboard charger located within the vehicle that is connected to the grid. The final stage of charging the battery pack is handled by an onboard charger. It takes the AC power from the EVSE and converts it into the necessary battery-charging profile.
KEY DRIVERS:
Government initiatives to improve electric vehicle charging infrastructure are on the rise
The market for electric car onboard chargers is being pushed by a rise in the no. of electric vehicles
RESTRAINTS:
The absence of EV charging standardization
The demand for electric vehicle onboard chargers may be stifled by an increase in the installation of fast DC chargers
OPPORTUNITIES:
The development of a two-way onboard charger (V2G) for future electric and plug-in hybrid vehicles
Environmental concerns have prompted innovative efforts resulting in the development of mechanical needs
CHALLENGES:
During the coronavirus pandemic, sales of electric vehicle onboard chargers plummeted dramatically
Uncertainty in raw material pricing is a major stumbling block
The import/export of raw materials required for EV chargers has been halted during the global lockdown
The impact of COVID on the market for electric car onboard chargers is unknown, however, it is projected to last through the second quarter of 2021. Governments all across the world have been obliged to focus on medical services as a result of the COVID-19 pandemic. As a result, governments are investing the majority of their money in the healthcare industry, which is hurting government investments and incentives in the electric vehicle market. Furthermore, due to the statewide lockout, electric car manufacturing plants were obliged to reduce their full operations. Due to the negative effects of the COVID-19 epidemic, actions and initiatives related to the development of electric vehicle onboard chargers have been delayed.
Based on the vehicle type segment, the global market has been divided into passenger cars, Vans, Buses, Medium & Heavy-Duty Vehicles, Boats, and Others. In 2020, the passenger car category dominated the market, accounting for about 36.0% of global revenue. Onboard chargers are projected to become more popular as the number of electric passenger cars on the road grows.
The global market has been divided into Less than 11 kW, 11 kW to 22 kW, and more than 22 kW based on the power output segment. In 2020, the 11 kW to 22 kW category dominated the market, accounting for about 41.0 percent of global sales. Over the projected period, the category with less than 11 kW is expected to grow the fastest. In the future years, most electric vehicles will have onboard chargers ranging from 6 to 11 kW.
Based on the propulsion type segment, the global market has been divided into BEV and PHEV. In 2020, the BEV category dominated the market, accounting for more than 68.0 percent of global sales. The propulsion is a Battery Electric Vehicle (BEV) provided by a plug-in charged battery. The market is moving forward due to the increased popularity of BEVs.
By Vehicle Type:
Passenger Car
Vans
Buses
Medium & Heavy-Duty Vehicles
Boats
Others
By Power Output:
Less than 11 kW
11 kW to 22 kW
More than 22 kW
By Propulsion Type:
BEV
PHEV
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North America, Europe, Asia-Pacific, and the rest of the globe make up the worldwide Electric Vehicle On-Board Charger market. The market is dominated by Asia-Pacific, followed by Europe and North America. In 2020, the Asia Pacific region dominated the market, accounting for about 38.0 percent of worldwide revenue. Government initiatives to promote electric car sales are increasing in nations like China and India, which is boosting the regional market growth. During the projected period, China is expected to lead the global market, while India is expected to develop at a substantial rate in Asia-Pacific. In APAC, China and Japan are the two most important markets for hybrid and electric vehicle onboard chargers.
This region's market will increase at a slower rate than other regions' markets. One of the primary factors facilitating the hybrid and electric vehicle on-board charger market expansion in APAC throughout the forecast period is the implementation of novel technology. Over the projection period, Europe is expected to grow significantly. Players in Europe are always working to increase their electric vehicle offers, which is increasing the demand for onboard chargers.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Bel Fuse Inc.; Eaton; BRUSA Electronic AG, Bel Power solution, Current Ways Inc., Toyota Industries Corporation, Innoelectric GmbH, Eaton, Stercom Power Solutions GmbH, Xepics Italia SRL, Delphi Technologies, AVID Technology Limited, Infineon Technologies AG, Hangzhou Aodi Electronic Control Co., Ltd, STMicroelectronics; Ficosa Internacional SA, Delta Energy Systems, BRUSA Electronic AG; AVID Technology Limited; are some of the affluent competitors with significant market share in the Commercial Vehicle Telematics Market.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 5.52 Billion |
| Market Size by 2030 | US$ 20.21 Billion |
| CAGR | CAGR of 17.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Vehicle Type (Passenger Car, Vans, Buses, Medium & Heavy-Duty Vehicles, Boats, Others) • by Power Output (Less than 11 kW, 11 kW to 22 kW, more than 22 kW) • by Propulsion Type (BEV, PHEV) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Eaton; BRUSA Electronic AG, Bel Power solution, Current Ways Inc., Toyota Industries Corporation, Innoelectric GmbH, Eaton, Stercom Power Solutions GmbH, Xepics Italia SRL, Delphi Technologies, AVID Technology Limited, Infineon Technologies AG, Hangzhou Aodi Electronic Control Co., Ltd, STMicroelectronics; Ficosa Internacional SA, Delta Energy Systems, BRUSA Electronic AG; AVID Technology Limited |
| Key Drivers | •Government initiatives to improve electric vehicle charging infrastructure are on the rise. •The market for electric car onboard chargers is being pushed by a rise in the no. of electric vehicles. |
| RESTRAINTS | •The absence of EV charging standardization. •The demand for electric vehicle onboard chargers may be stifled by an increase in the installation of fast DC chargers. |
The Electric Vehicle On-Board Charger Market Size was valued at USD 5.52 billion in 2022.
Major players in the market Bel Fuse Inc., Eaton, BRUSA Electronic AG, Bel Power solution, Current Ways Inc., Toyota Industries Corporation, Innoelectric GmbH, Eaton, Stercom Power Solutions GmbH, Xepics Italia SRL, Delphi Technologies, AVID Technology Limited, Infineon Technologies AG, Hangzhou Aodi Electronic Control Co., Ltd, STMicroelectronics, and others in the final report.
Electric Vehicle On-Board Charger Market is segmented into three segments, By Vehicle Type, By Power Output, By Propulsion Type.
Asia Pacific region is dominating the Electric Vehicle On-Board Charger Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Electric Vehicle On-board Charger Market Segmentation, by Vehicle Type
8.1 Passenger Car
8.2 Vans
8.3 Buses
8.4 Medium & Heavy-Duty Vehicles
8.5 Boats
8.6 Others
9. Global Electric Vehicle On-board Charger Market Segmentation, by Power Output
9.1 Less than 11 kW
9.2 11 kW to 22 kW
9.3 More than 22 kW
10. Global Electric Vehicle On-board Charger Market Segmentation, by Propulsion Type
10.1 BEV
10.2 PHEV
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 AVID Technology Limited,
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Bel Fuse Inc.
12.3 Eaton
12.4 BRUSA Electronic AG
12.5 Bel Power solution
12.6 Current Ways Inc.
12.7 Toyota Industries Corporation
12.8 Innoelectric GmbH
12.9 Eaton
12.10 Stercom Power Solutions GmbH
12.11 Xepics Italia SRL
12.12 Delphi Technologies
12.13 AVID Technology Limited
12.14 Infineon Technologies AG
12.15 Hangzhou Aodi Electronic Control Co., Ltd
12.16 STMicroelectronics
12.17 Ficosa Internacional SA
12.18 Delta Energy Systems
12.19 BRUSA Electronic AG
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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