New York, USA, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The market value of On Board Chargers in 2021 was USD 4.6 billion, and it will be USD 16 billion by 2030, growing at a 15% CAGR. The tools used in electric vehicles to recharge the batteries are known as On Board Chargers. These chargers use Direct Current (DC) to charge the traction batteries from an input of Alternating Current (AC).
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The On Board Charger Market Insights:
- By power output, the 11kW to 22kW segment held the highest position in the market in 2020, with a 41.0% revenue share.
- In 2020, the passenger car segment significantly ruled the market, with the highest share of 35.0% on the basis of vehicle type.
- On the basis of propulsion type, the BEV segment ruled the entire market with a share of 67.0% in 2020.
- Asia Pacific significantly held the largest market position in 2020, with 38.0% of the revenue share.
Factors influencing the On Board Charger Market growth:
Factors like the high cost of electric vehicle charging at the public station and increasing government initiatives for constructing electric vehicle charging infrastructure are influencing the market growth rate.
- The demand for On Board Chargers is fuelled by the high cost of recharging an electric vehicle at public charging stations. Public charging stations near highways, shopping centres, and places of business are liable to higher commercial electric rates than home rates. An electric vehicle uses an On Board Charger to recharge the traction battery by transforming the grid's AC input to the DC input needed to charge the batteries. The primary factor fuelling the market's progress is the increase in public and private AC charging stations worldwide.
- The electric car On Board Chargers market is expanding due to rising government initiatives to build charging infrastructure. Creating a two-way On Board Charger (V2G) for upcoming electric and plug-in hybrid vehicles will present potential opportunities for the electric vehicle On Board Charger market.
On Board Charger Market Segmentation Analysis
The market segmentation of On Board Chargers is done on the basis of power output, Vehicle type, propulsion type, and Region.
By Power Output
- 11 kW to 22 kW
- Less than 11 kW
- More than 22 kW
By Vehicle Type
- Passenger Car
- Buses
- Boats
- Medium & Heavy-Duty Vehicles
- Vans
- Others
By Propulsion Type
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicles (HEV)
For Region
North America
- Canada
- U.S.A.
Asia-Pacific
- Japan
- China
- South Korea
Europe
- UK.
- Germany
Latin America
- Brazil
Middle East & Africa
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By power output, the 11kW to 22kWy segment held the highest position in the market in 2020, with a 41.0% revenue share. The tri-phase AC 11-22 kW chargers take 2-4 hours to charge an electric vehicle fully. As a public charging station, a tri-phase AC charger is widely utilized. Statistics from Transport & Environment show that tri-phase AC chargers are used in 61% of public chargers in Europe.
In 2020, the passenger car segment significantly ruled the market, with the highest share of 35.0% on the basis of vehicle type. The need for On Board Chargers will rise with the worldwide increasing sales of electric passenger automobiles.
On the basis of propulsion type, the BEV segment ruled the entire market with a share of 67.0% in 2020. The increase in BEVs is driving the expansion of the segment. Several manufacturers, including Audi, Volkswagen, and Mercedes-Benz, have held the maximum market share in the BEV class.
Asia Pacific significantly held the largest market position in 2020, with 38.0% of the revenue share. The increase in government initiatives drives the expansion of regional markets to promote the sales of electric vehicles in nations like China and India. For instance, one of the key reasons influencing the sales of EV On Board Chargers in China is the sales quotas that the Chinese government implemented for the years 2019, 2020, & 2021.
On-board Charger Market Report Coverage
| Report Attribute | Details |
| The market size value in 2020 | USD 4.6 billion |
| The revenue forecast in 2030 | USD 16 billion |
| Growth rate | CAGR of 15% |
| The base year of estimation | 2021 |
| Historical data | 2017 - 2020 |
| Forecast period | 2021 - 2030 |
| Quantitative units | Revenue in USD billion and CAGR from 2020 to 2030 |
| Report Coverage | company market share, Revenue forecast, competitive landscape, growth factors, and trends |
| Segments Covered | Power output, vehicle type, propulsion type, region |
| Power output | Less than 11 kW, 11 kW to 22 kW, and more than 22 kW |
| Vehicle type | Medium & Heavy-Duty Vehicles, Boats, Passenger Car, Buses, Vans, and Others |
| Propulsion type | Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV) |
| Regional scope | Asia Pacific; Europe; Latin America; MEA North America; |
| Country scope | U.S.; Canada; Germany; U.K.; China; South Korea; Japan; Brazil |
| Key companies profiled | Ficosa Internacional S.A., Delta Energy Systems; AVID Technology Limited; Eaton, Toyota Industries Corporation; Bel Fuse Inc.; Stercom Power Solutions, STMicroelectronicsinnolectric AG; BRUSA Elektronik AG; Siemens; Innolectric AG; Current Ways Inc.; Eaton Corporation; Infineon Technologies AG; Innoelectric GmbH. |
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Key players in the On Board Charger Market:
- Bel Fuse Inc.
- Delta Energy Systems
- Ficosa Internacional SA
- STMicroelectronics
- Toyota Industries Corporation
- Eaton Corporation
- Starcom Power Solutions GmbH
- AVID Technology Limited
- Siemens
- Innolectric AG
- Innoelectric GmbH
- BRUSA Elektronik AG
- Current Ways Inc.
- Infineon Technologies AG
Recent Developments
- On April 2022, the global shared intelligent electric mobility ecosystem company Faraday Future Intelligent Electric Inc. based in California, announced collaboration with Meta System to become a provider of on-board power management module products for its ultra-luxurious FF 91 EV and upcoming FF 81 vehicles.
- On September 2022, Onsemi launched three silicon carbide (SiC)-based power module in transfer molded technology for on board chargers. It is now available in all-electric vehicles' on-board charging and high voltage (HV) DCDC conversion (xEV).
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