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On board Charger Market Trends – Increasing production of electric vehicles to drive demand for on-board chargers across regions

VANCOUVER, BRITISH COLUMBIA, CANADA, May 15, 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.

Growing demand for green construction is a significant factor in fueling market demand. The use of construction sealants improves the energy-efficiency of buildings and thereby reduces environmental stress. Green building standards such as LEED play an important role in promoting the market growth.

The development of efficient charging solutions is critical as electric cars (EVs) gain popularity and become a mainstream choice for eco-conscious consumers. The On-Board Charger (OBC) is one such critical breakthrough in the EV charging ecosystem. This article delves into the significance of on-board chargers, their functionality, and their impact on the whole EV experience.

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Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Some players analyzed in the report are:

Toyota Industries Corporation, Eaton Corporation, STMicroelectronics Inc., Bel Fuse Inc., Delta-Q Technologies Corp., AVID Technology Limited, BRUSA Elektronik AG, Current Ways Inc., Innolectric AG, and Stercom Power Solutions GmbH

To learn more details about the Global On Board Charger Market report, visit @ https://www.emergenresearch.com/industry-report/on-board-charger-market

Some Significant Report Highlights:

In September 2019, Sika entered into an agreement for the acquisition of Crevo-Hengxin, a firm involved in the production of silicone adhesives and sealants deployed in construction and industrial applications.

Polysulphide sealants find extensive usage in commercial construction to provide resistance to wet and cold conditions owing to their impermeability.

Reactive sealants possess improved elasticity, which is advantageous for constructions facing expansion and shrinkage. In contrast, solvent-based sealants are less elastic and could experience premature breakage.

In flooring, construction sealant gives a smoother surface making the floor is easier to clean. Also, sealants prevent alkali and lime leachate from the concrete, leaving stains marks on the slab surface, thus adding to visual appeal.

Europe held the second-largest market share in 2019, attributed to the growth of the construction industry in the region and a rise in the purchasing power of the people.

In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions.

On the basis of type, the market is segmented into

Power Output Outlook (Revenue, USD Billion; 2018–2028)
Less than 11 kW

11 kW to 22 kW

More than 22 kW

Vehicle Type Outlook (Revenue, USD Billion; 2018–2028)
Passenger Cars

Buses

Vans

Medium and Heavy Duty Vehicles

Others

Propulsion Type Outlook (Revenue, USD Billion; 2018–2028)
Battery Electric Vehicle (BEV)

Plug-in Hybrid Electric Vehicle (PHEV)

Hybrid Electric Vehicle (HEV)

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The report further divides the On Board Charger market into key segments such as types, applications, end-user industries, technologies, and key regions of the market.

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)

The Advantages of On-Board Chargers: 

Convenience and portability: EV drivers may charge their vehicles using an on-board charger from a number of power sources, including normal wall outlets and dedicated charging stations. This adaptability makes it easy to find charging choices no matter where one is, enabling flexibility and convenience.

The requirement for external charging infrastructure is reduced by putting the charger directly inside the car. This function is very useful for EV users who have little parking space or travel regularly to places with limited charging facilities.

Chargers are designed to optimise the charging process, ensuring effective power conversion and reducing energy losses. This results in faster charging times and increases the range of an EV on a single charge.

Scalability and Future-Proofing: As charging technologies progress, on-board chargers can be upgraded or replaced with more advanced ones. This scalability ensures that EVs continue to be compatible with newer charging standards, safeguarding EV owners' investments and encouraging future integration with evolving smart grid systems.

Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.

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