IMARC Group’s latest research report, titled “On-Board Charger Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights into the global on-board charger market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global onboard charger market size reached US$ 5.41 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.58 Billion by 2028, exhibiting a growth rate (CAGR) of 19.20% during 2023-2028.
On-Board Charger Market Overview:
An onboard charger (OBC) is an essential component of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) that enables the charging of the vehicle’s battery pack. The OBC is typically integrated into the vehicle and is responsible for converting the alternating current (AC) from an external power source, such as a charging station or wall outlet, into a direct current (DC) that is compatible with the vehicle’s battery system.
The primary function of an onboard charger is to manage the charging process efficiently and safely. It regulates the voltage and current levels to match the battery’s charging requirements, ensuring optimal charging performance. They are designed to be compact and lightweight, making them suitable for integration into the limited space available within a vehicle.
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On-Board Charger Market Trends:
The increasing demand for electric vehicles (EVs) worldwide is driving the global market. This can be supported by a rising focus on reducing carbon emissions and transitioning towards sustainable transportation. Moreover, several major companies are developing chargers that are more compact, lightweight, and efficient. These advancements not only enhance the performance of the chargers but also contribute to the overall range and charging speed of electric vehicles.
Additionally, the integration of smart charging features, such as connectivity capabilities and advanced charging algorithms, is fuelling the market. Moreover, the growing investments in research and development by automotive manufacturers and technology companies are fostering innovation in the onboard charger market. Besides, government are implementing initiatives and incentives to promote electric vehicle adoption which are stimulating the onboard charger market.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Bel Fuse Inc.
- BRUSA Elektronik AG
- Delta Energy Systems
- Ficosa International SA
- Innolectric AG
- KOSTAL Automobil Elektrik GmbH & Co. KG
- Robert Bosch GmbH
- Semiconductor Components Industries LLC
- Stercom Power Solutions GmbH
- STMicroelectronics N.V.
- Texas Instruments Incorporated
- Toyota Industries Corporation
Power Insights:
- Less Than 11 kW
- 11 kW to 22 kW
- More Than 22 kW
Vehicle Type Insights:
- Passenger Car
- Buses
- Vans
- Medium and Heavy Duty Vehicles
- Boats
- Others
Propulsion Type Insights:
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Distribution Channel Insights:
- OEMs
- Aftermarket
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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