MarkNtel Advisors – Leading Market Research Company found Global On-Board Charger Market is expected to reach 16.5% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Global On-Board Charger Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the On-Board Charger Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

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Scope of the On-Board Charger Market Report:

The Global On-Board Charger Market size is valued at around USD 6.2 billion in 2024 and is estimated to grow at a CAGR of around 16.5% during the forecast period, i.e., 2024-30. Multiple market factors are driving the market such as the increased use of EVs at a very significant growth rate supported by advancement in technology as multiple levels of on-board chargers (Level 1, Level2, Level 3, or the DC fast charger) are being introduced to provide fast charging resolution as per requirement. Other factors that help in driving the industry include government policies supporting the growth of EVs to promote clean energy and reduce the greenhouse effects in addition to safe the depletion of nonrenewable natural resources. Global investments are being made on a mass level to support the industry with R&D and innovations.

Which prominent factor is expected to drive the On-Board Charger Market during 2024-30?

Rising Adoption of EVs Driving Growth & Expansion – With the growing awareness about environmental issues more and more people are shifting to EVs as it is cost-efficient, we have seen an increased demand in the sector all over the globe. Governments around the world are working on multiple ways to boost the adoption of electric vehicles. Multiple levels of OBCs are being developed to support the growth of EVs in the market. Its, high usage specifically in the transport and passenger vehicle industry is augmenting the size & volume of the on-board charger industry. The applications of OBCs have gone way beyond passenger cars as the adoption of EVs has already expanded up to commercial vehicles, two-wheelers, and public transport and all of them require on-board chargers to function thus boosting the revenue growth of the market.

The rising adoption is creating the need for fast charging solutions to cater to more customers in less time and provide them with the best solutions to their charging needs. Advanced OBCs are being developed to support rapid charging, enhancing the overall EV user experience. With this, the manufacturers are also focusing on increasing the battery life and reduction in energy loss to match the expectations and requirements of the growing EV market. Thus, the rising adoption of electric vehicles is a significant driver of growth of the Global On-Board Charger Market. The increasing number of EVs on the road is creating a robust demand for OBCs. This trend is expected to continue through 2030, shaping the future landscape of the automotive and charging infrastructure industries.

What are the different Segment Available in the On-Board Charger Market?

By Propulsion Type

  • Battery Electric Vehicle [BEV]
  • Plug-in Hybrid Electric Vehicle [PHEV]

By Power Output

  • Less than 10 KW
  • 10 KW–20 KW
  • More than 20 KW

By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicle

By End-User

  • OEMs
  • Aftermarket

By Region

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle East & Africa.

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Leading On-Board Charger companies operating in the Market

  • BRUSA Elektronik AG
  • Current Ways Inc.
  • Bel Power solution
  • Innoelectric GmbH
  • Toyota Industries Corporation
  • Stercom Power Solutions GmbH
  •  Eaton
  • Delphi Technologies
  • Xepics Italia SRL
  •  Infineon Technologies AG
  • AVID Technology Limited
  • Hangzhou Aodi Electronic Control Co., Ltd.
  • STMICROELECTRONICS
  • Ficosa Internacional SA.

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