Automotive Onboard Charger Market Industry Outlook, Size, Growth Factors and Forecast 2030
Automotive Onboard Charger Market: was valued at US$ 6.45 Bn in 2022 and is expected to growth at US$ 9.54 Bn in 2029. Global Automotive Onboard Charger Market size is expected to grow at a CAGR of 5.74 % through the forecast period.
Automotive Onboard Charger Market Overview:
The report serves as a comprehensive guide for investors, stakeholders, and market followers of the Automotive Onboard Charger Market. It offers an in-depth analysis of the market size, segmentation, drivers, and restraints. Factors that are expected to impact the industry positively or negatively are also included, providing decision-makers with a clear understanding of the Automotive Onboard Charger industry’s future outlook.
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Automotive Onboard Charger Market Report Scope and Research Methodology:
The research for this report employs a combination of primary and secondary research methods to provide a detailed and accurate analysis of the Automotive Onboard Charger Market. The bottom-up approach is utilized to estimate the market size, while secondary research is used to identify key players in the market. Primary research involves conducting interviews with significant opinion leaders and industry experts, including business owners and marketing specialists. Secondary research involves a thorough review of the annual and financial reports of top manufacturers to calculate their market revenues.
Automotive Onboard Charger Market Regional Insights :
The research includes a global-level regional analysis, providing a comprehensive understanding of the dominant market share and penetration in different regions. It also highlights emerging regions expected to become major markets for Automotive Onboard Charger . The report encompasses a com Automotive Onboard Charger itive analysis, focusing on growth models, new strategies, and technologies adopted by key players in the market.
Automotive Onboard Charger Market Segmentation :
In 2022, the passenger car category accounted for 36% of the global market share by vehicle type. The market and segment are expanding as a result of the rising sales of electric passenger automobiles throughout the world. Compared to 2022, when 37% of the world’s electric car fleet was located in China, the global market for electric passenger cars grew by more than 40% in 2022. 2022 saw the installation of almost 7.3 million chargers, of which 6.5 million belonged to private owners. Thus, the market is growing as a result of rising sales of passenger electric cars and rising charger availability.
Furthermore, throughout the projection period, the buses segment is anticipated to increase at a compound annual growth rate of x%. Buses employ onboard chargers to convert AC power to DC so that the battery may be charged. This has led to an increase in the number of electric buses sold worldwide. Based on collected statistics, the UK is expected to have the largest fleet of electric buses in Europe by 2029. With almost 800 ZE buses, Poland has the second-largest fleet of electric buses in Europe. With over 600 buses apiece, the Netherlands and Italy have the third and fourth largest fleets of electric buses. Therefore, throughout the projection period, it is anticipated that the number of electric buses in Europe will rise by 189%.
Over the projection period, Europe is anticipated to have tremendous growth. The market expansion in the region is being propelled by the government’s initiative to purchase electric vehicles. In a similar vein, ongoing initiatives to increase sales of electric vehicles are also fostering market expansion. Additionally, the demand for conventional bikes has significantly decreased in the European market, while imports of e-bikes—primarily from Chinese manufacturers—have increased. This has created potential for the market to grow in the area.
Automotive Onboard Charger Market Key Players :
1. Bel Fuse Inc. 2. Delta Energy Systems 3. STMicroelectronics 4. Toyota Industries Corporation 5. Eaton 6. Stercom Power Solutions GmbH 7. innolectric AG 8. BRUSA Elektronik AG 9. AVID Technology Limited 10. Ficosa Internacional SA 11. Analog Devices, Inc. 12. AVID Technology Limited 13. Bel Fuse Inc. 14. BorgWarner Inc. 15. Bourns, Inc. 16. Continental AG 17. Current Ways 18. Eaton 19. Ficosa Internacional SA 20. GaN Systems
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, com Automotive Onboard Charger ition analysis, production and demand analysis, and client impact studies.
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