Electric Vehicle on Board Charger Market
Electric Vehicle on Board Charger Market Size, Share and Trends Analysis Report, By Vehicle Type (Passenger Vehicles and Commercial Vehicles), By Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV)), By Power Output (<20KW, and <20KW), Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Electric vehicle on board charger market is expected to grow at a significant CAGR of 19.6% during the forecast period. An onboard charger is majorly used in the electric vehicle for charging the traction battery by converting the AC input received from the grid to the DC input. The rising number of AC private and public charging in the developed countries such as North America and Europe along with the approvals received for AC Level 2 charging stations are some major factors accelerating the market growth. For instance, in October 2020, EVBox announced that its EVBox Iqon, level 2 commercial charging station has received a UL certificate and is available for installation across North America. In Europe, it is the sole supplier of public charging infrastructure in cities such as Amsterdam, Rotterdam, and Monaco.
An upsurge in technological advancements is shaping the global electric vehicles on board charger market. Major Key players operating in the electric vehicle charger sector are focused on inventing technological solutions for electric vehicles charger to meet the rising demand from the customers. For instance, in September 2021, ABB introduced a new Terra 360 modular charger which can simultaneously charge up to four vehicles with dynamic power distribution. The Terra 360, with charging options that fit a variety of needs, is the key to fulfilling the demand and accelerating e-mobility adoption globally. Moreover, the charger has a maximum output of 360 kW and is capable of fully charging any electric car in 15 minutes or less, meeting the needs of a variety of EV users.
Segmental Outlook
The global electric vehicle on board charger system market is segmented based on vehicle type, propulsion type, and power output. Based on vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. Based on propulsion type, the market is sub-divided into battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV). Based on power output, the market is segmented into <20KW and >20KW. Based on vehicle type, the commercial vehicle segment is expected to grow at the fastest rate, owing to the rise in the e-commerce business which leads to an increase in the adoption of commercial vehicles for transportation. Apart from this, the adoption of e-mobility in the commercial sector and the advances and development in the automotive industry also trigger the growth of the commercial vehicle segment.
Regional Outlook
The global electric vehicle on board charger market is further segmented based on geography including North America (The US, and Canada), Europe (Italy, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). Asia-Pacific region is expected to register significant growth during the forecast period. The growth is mainly augmented owing to various government policies; the subsidies provided for the purchase of electric vehicles are another factor that drives the market growth in the Asia-Pacific region. For instance, according to Natural Resources Defense Council (NRDC), the government drafted a new policy for the sale of electric vehicles in India. The state government has provided complete reimbursement of road tax and registration fees on the sale of electric vehicle units by 2024, and an additional special incentive of $136 for a lithium-ion battery e-rickshaw.
North America electric vehicle on board charger market is driven by the increased pollution level due to rapid urbanization and industrialization. Moreover, the rising disposable income and availability of key manufacturers in the region are facilitating the growth of the North America electric vehicle on-board charge market. As per the International Council on Clean Transportation report, the need for charging stations has grown to 216,000 chargers in 2020 and is projected to grow to 2.4 million by 2030, including 1.3 million workplace charging stations, 900,000 public Level 2, and 180,000 direct current fast chargers in the US. Hence, with the rise in the number of electric charging stations, along with the presence of key market players such as Tesla, Shell, and Evocharge, the market is projected to grow in the North American region during the forecast period.
Global Electric Vehicle on Board Charger Market Growth, by Region 2021-2028
Market Players Outlook
The major companies operating in the global electric vehicle on board charger market include Eaton Corp., Infineon Technologies AG, Toyota Industries Corp., BorgWarner Inc., and Innoelectric GmbH. The market players are contributing significantly to the market growth by the adoption of various strategies including partnerships, mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022, Faraday Future announced a new partnership with Meta System to become the supplier of onboard power management module products for the FF91 and upcoming 81 electric vehicles. Using Meta System’s onboard battery charger, the system will be capable of 15.2 kW AC charging.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric vehicle on board charger market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Eaton Corp.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Infineon Technologies AG
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. BorgWarner Inc.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Innoelectric GmbH
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Toyota Industries Corp.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Electric Vehicle On Board Charger Market by Vehicle Type
4.1.1. Passenger Vehicles
4.1.2. Commercial Vehicles
4.2. Global Electric Vehicle On Board Charger Market by Propulsion Type
4.2.1. Battery Electric Vehicle (BEV)
4.2.2. Hybrid Electric Vehicle (HEV)
4.2.3. Plug-In Hybrid Electric Vehicle (PHEV)
4.3. Global Electric Vehicle On Board Charger Market by Power Output
4.3.1. <20KW
4.3.2. >20KW
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Bel Fuse Inc.
6.2. Brusa Elektronik AG
6.3. Current Ways
6.4. Delta Electronics, Inc.
6.5. Ficosa Group
6.6. Hangzhou Aodi Electronic Control Co. Ltd.
6.7. Stercom Power Solutions GmbH
6.8. STMicroelectronics NV
6.9. Turntide Technologies Inc.
6.10. Xepics Ltd.
1. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
2. GLOBAL ON BOARD CHARGER FOR PASSENGER VEHICLES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL ON BOARD CHARGER FOR COMMERCIAL VEHICLES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
5. GLOBAL BATTERY ELECTRIC VEHICLES (BEV) ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL HYBRID ELECTRIC VEHICLES (HEV) ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL PLUG IN HYBRID ELECTRIC VEHICLES (PHEV) ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY POWER OUTPUT, 2021-2028 ($ MILLION)
9. GLOBAL ELECTRIC VEHICLE <20KW ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL ELECTRIC VEHICLE >20KW ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. NORTH AMERICAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
14. NORTH AMERICAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY POWER OUTPUT, 2021-2028 ($ MILLION)
16. EUROPEAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. EUROPEAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
18. EUROPEAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
19. EUROPEAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY POWER OUTPUT, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY POWER OUTPUT, 2021-2028 ($ MILLION)
24. REST OF THE WORLD ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. REST OF THE WORLD ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE , 2021-2028 ($ MILLION)
26. REST OF THE WORLD ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD ELECTRIC VEHICLE ON BOARD CHARGER MARKET RESEARCH AND ANALYSIS BY POWER OUTPUT, 2021-2028 ($ MILLION)
1. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET SHARE BY VEHICLE TYPE, 2021 VS 2028 (%)
2. GLOBAL ON BOARD CHARGER FOR PASSENGER VEHICLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL ON BOARD CHARGER FOR COMMERCIAL VEHICLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET SHARE BY PROPULSION TYPE, 2021 VS 2028 (%)
5. GLOBAL BATTERY ELECTRIC VEHICLES (BEV) ON BOARD CHARGER MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL HYBRID ELECTRIC VEHICLES (HEV) ON BOARD CHARGER MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL PLUG IN HYBRID ELECTRIC VEHICLES (PHEV) ON BOARD CHARGER MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET SHARE BY POWER OUTPUT, 2021 VS 2028 (%)
9. GLOBAL ELECTRIC VEHICLE <20KW ON BOARD CHARGER MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL ELECTRIC VEHICLE >20KW ON BOARD CHARGER MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL ELECTRIC VEHICLE ON BOARD CHARGER MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. US ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
13. CANADA ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
14. UK ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
15. FRANCE ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
16. GERMANY ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
17. ITALY ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
18. SPAIN ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
19. REST OF EUROPE ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
20. INDIA ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
21. CHINA ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
22. JAPAN ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
23. SOUTH KOREA ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF ASIA-PACIFIC ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF THE WORLD ELECTRIC VEHICLE ON BOARD CHARGER MARKET SIZE, 2021-2028 ($ MILLION)
