According to 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 on the On-Board charger market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global on-board 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 Outlook:
An on-board charger (OBC) is a device that is utilized to charge a variety of batteries, including lead-acid, lithium-ion, and nickel-metal hydride. It is also used in electric vehicles to charge the electric motor and other components. It is usually installed in the vehicle and connected to an external power source. It converts the external AC power into DC power, which is then utilized to charge the battery. Additionally, it is designed to optimize the charging process, ensuring that the battery is charged safely and efficiently. It also monitors the battery’s condition and temperature and prevents overcharging. Most OBCs have various safety features, such as overload protection, short circuit protection, and temperature control and also feature a range of charging modes, allowing the user to customize the charging process to their needs.
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On-Board Charger Market Trends:
The escalating demand for electric vehicles (EVs) majorly drives the global market. As more individuals seek to reduce their carbon emissions, EVs are becoming increasingly popular. This is leading to an increasing demand for on-board chargers, as they are an essential component for EVs. Along with this, governments of various countries are introducing policies to encourage EV adoption, providing an additional boost to the overall on-board charger market. In addition, the rising utilization of autonomous vehicles is also driving the on-board charger demand. Moreover, the development of new technologies that improve the charging speed of on-board chargers is creating a positive market outlook. Some of the other factors driving the market include rising environmental concerns and inflating disposable income levels.
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
- Less Than 11 kW
- 11 kW to 22 kW
- More Than 22 kW
Vehicle Type Insights:
- Passenger Car
- Medium and Heavy Duty Vehicles
Propulsion Type Insights:
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Distribution Channel Insights:
Breakup by Region:
- North America (United States, Canada)
- 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.