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Strict emission regulations, supportive government policies, and increased vehicle electrification are some factors driving revenue growth of the market

VANCOUER, BC, CANADA, January 24, 2023 /EINPresswire.com/ -- The global on-board charger market size is expected to reach USD 8,001.4 Million in 2030 and register a revenue CAGR of 19.0% over the forecast period, according to the latest analysis by Emergen Research. Increased efforts by governments to promote electric vehicles is a key factor that is expected to support revenue growth in the market between 2022 and 2030. The restriction on the use of fossil fuels as a vehicle fuel imposed by various countries is likely to increase sales of electric vehicles. This is expected to drive revenue growth of on-board charger market.

On-board chargers for electric vehicles are consequently becoming essential. An on-board charger transforms the grid's AC input into the DC input required to charge the batteries in an electric vehicle's traction battery. The global increase in AC private and public charging stations is one of the major drivers driving the market's expansion. The AC level 1 on-board charger is used by all varieties of electric vehicles and may be plugged into standard power outlets. Demand for on-board chargers has increased as a result of the global proliferation of electric charging stations. On-board chargers for electric vehicles offer AC level 1 and level 2 charging.

Some of the key participants in this On board Charger industry include:

Bel Fuse Inc., Delta Energy Systems, STMicroelectronics, Stercom Power Solutions GmbH, innolectric AG, BRUSA Elektronik AG, AVID Technology Limited, Ficosa Internacional SA, Kenergy Corp., and BorgWarner Inc.

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The Global On board Charger Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects.

Some Key Highlights From the Report

In terms of revenue during the forecast period, the passenger cars segment is anticipated to take the lead. Global research and sales of electric passenger vehicles have been sparked by growing environmental concerns over rising CO2 emissions. The demand for autonomous vehicles has surged as a result of the release of technologically improved electric automobiles. Demand for an onboard charger is anticipated to increase as a result of the government's rising investments in industrial facilities.

Throughout the projected period, the battery electric vehicle (BEV) segment is anticipated to post consistent revenue growth. A BEV's battery is charged by a plug and used to power the vehicle. BEVs have a longer range of travel and have the capacity to store more energy. The BEV segment is dominated by a number of manufacturers, including Volkswagen, Audi, and Mercedes-Benz.

Asia Pacific market is expected to account for the largest revenue share during the forecast period. Growth of the market in Asia Pacific is mainly attributed to increased demand in China as it is a major market for on-board chargers. BYD Qin Pro EV, Tesla Model 3, and GAC Aion S are the electric vehicles that use on-board chargers in China. In addition, increased government efforts in countries, such as China and India, to promote electric vehicle sales are boosting growth of regional market.

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The report studies the impact of the COVID-19 pandemic on the On board Charger Market .The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale.

You need to discover how this will impact the On Board Charger market today, and over the next 10 years:

Our 250-page report provides 194 tables and 189 charts/graphs exclusively to you.

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It contains in-depth analysis of global, regional and national sales and growth.

It highlights for you the key successful trends, changes and revenue projections made by your competitors.

This report tells you Today how the On board Charger Market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.

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Segmentation :

Emergen Research has segmented the global on board charger market based on power output, vehicle type, propulsion type, and region:

Power Output Outlook (Revenue, USD Million; 2019–2030)
Less than 11 kW
11 kW to 22 kW
More than 22 kW

Vehicle Type Outlook (Revenue, USD Million; 2019–2030)
Passenger Car
Buses
Vans

Medium and Heavy Duty Vehicles
Others

Propulsion Type Outlook (Revenue, USD Million; 2019–2030)
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report provides a comprehensive analysis in an organized manner in the form of tables, graphs, charts, figures, and diagrams. The organized data paves the way for thorough examination and research of the current and future outlook of the market. The report further offers a thorough SWOT and Porter’s Five Forces analysis to impart a better understanding of the competitive landscape of the On board Charger Market

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