Overview:

The global electric vehicle on board charger market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2021-2029. The type of electric vehicle charger that comes with electric vehicle and which is built in or fitted in electric vehicle is commonly referred as electric vehicle on-board charger. Additionally, report scope has considered on-board chargers that are available at publicly available charging infrastructure.

Market Dynamics:

The increasing penetration of electric vehicles across the globe is a major factor driving growth of the global electric vehicle on board charger market. Since fossil fuel such as gasoline is not a renewable energy source and will gradually deplete. It is crucial to develop and use alternative fuel sources in order to sustain in eco-friendly manner for long-term. Hence, focus on development of EVs started across the globe. This involves the use of electric vehicles, which requires less or not require gasoline and are more cost efficient than conventional vehicles. EVs have a various benefit, including lower or no conventional fuel consumption including petrol, diesel, and gas and low or no emission from tailpipes. This is pushing up demand for EVs around the world. This in turn is projected to increase the demand for on-board chargers across the globe.

In addition, key players operating in the EV on board charger market are adopting various strategic moves such as product development, tie-ups, and collaboration to tap the business potential in emerging economies is expected to fuel growth of target market in the near future.

However, uncertainty in the pricing of raw materials, lack of EV charging infrastructure in majority countries, and myths about vehicle range and battery technologies among the end users are some key factors hindering growth of the target market.

Key Trends:

Rising focus on product advancements among key players is a key trend witnessed in the global electric vehicle on board charger market. For instance, Swiss auto component maker BRUSA Elektronik has upgraded their on-board fast charger (NLG664) performance. This charger charges a typical EV battery in less than one hour using 3-phase AC current of up to 22 kW, and also offers the option to charge at up to 7 kW from a single-phase AC outlet

Regional Analysis:

For detailed understanding of market dynamics, the global electric vehicle on board charger market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific region is accounted for the major revenue share in 2020, owing to high adoption of electric vehicles in the countries such as China. Currently, China holds highest rate of electric vehicle penetration and charging infrastructure deployment in the globe. The rising government support in terms of monetary benefits such as tax benefits on purchase of EV’s is supporting growth of the target market in the region.

However, the target market in Europe is accounted for second highest value share in the year 2020, followed by North America. Also, the Europe region is expected to witness highest growth during the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Electric Vehicle On Board Charger Market, By Current Type:

• AC
• DC

Global Electric Vehicle On Board Charger Market, By Power Output:

• Less than 10kW
• 10kW to 20kW
• More than 20kW

Global Electric Vehicle On Board Charger Market, By Propulsion Type:

• BEV
• HEV
• PHEV

Global Electric Vehicle On Board Charger Market, By Vehicle Type:

• Passenger Car
• Buses
• Medium and Heavy-Duty Vehicles
• Construction Equipment
• Mining Equipment
• Other Vehicles

Key Players Covered:

Key players operating in the global electric vehicle on board charger market includes BRUSA Elektronik AG, Bel Power Solutions, Toyota Industries Corporation, Current Ways Inc., Innoelectric AG, Eaton Corporation, Stercom Power Solutions GmbH, Xepics Italia SRL, Infineon Technologies AG, and Ficosa Internacional SA.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Electric Vehicle On Board Charger Market by current type, power output, propulsion type, vehicle type, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global electric vehicle on board charger market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.