Introduction
The TechSci Research report, titled “Electric Vehicle On-Board Charger Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” offers a comprehensive analysis of the global electric vehicle on-board charger market. The report highlights key drivers, challenges, and opportunities influencing this market segment.
Government Initiatives and EV Penetration
The rising adoption of electric vehicles (EVs) is significantly propelled by government initiatives to establish robust charging infrastructure. As EVs gain traction, the demand for on-board chargers grows in tandem. Governments globally are investing in charging stations and related infrastructure to support the surge in electric vehicle usage.
Challenges and Limitations
While government support and EV growth drive the market, challenges such as the lack of standardized electric vehicle charging protocols pose limitations. The proliferation of fast DC charger installations, while beneficial, presents the need for uniform charging standards. This divergence hampers seamless expansion and universal compatibility in the market.
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Two-Way On-Board Charger Potential
A notable development with substantial potential lies in the creation of a two-way on-board charger (V2G) for forthcoming electric and plug-in hybrid vehicles. This innovation opens avenues for bi-directional energy flow, offering promising opportunities for companies operating in the electric vehicle on-board charger market.
On-Board Charger’s Role
An on-board charger for EVs facilitates the conversion of AC power from charging stations into DC electricity, enabling efficient charging of the vehicle’s 350V or 650V battery. This charger focuses on extended charging periods with a low charging rate, typically requiring 5–8 hours for a full charge.
Market Segments
The electric vehicle on-board charger market is segmented based on charging power, propulsion type, vehicle type, design type, product type, region, and competitive landscape. These divisions provide a comprehensive understanding of the diverse market dynamics.
The Shift to Sustainable Energy Sources
Given the finite nature of fossil fuels like gasoline, the imperative of alternative energy sources is undeniable for fostering sustainable development. Electric vehicles, which eliminate the need for gasoline and offer cost-effectiveness, become pivotal in promoting environmentally friendly transportation.
Global Demand for Electric Vehicles
The advantages of EVs, including reduced fuel consumption and exhaust emissions, have fueled global demand for these vehicles. As the demand for electric and plug-in hybrid vehicles surges, the need for on-board chargers to facilitate efficient charging is projected to increase during the forecast period.
Strategic Industry Actions
Key players in the on-board charger industry are strategically enhancing their offerings. For instance, Swiss auto component manufacturer BRUSA Elektronik has elevated the performance of its on-board fast charger (NLG664), catering to single-phase and 3-phase AC power charging needs. Additionally, several governments worldwide have initiated programs to bolster EV charging infrastructure.
Global EV Sales and Barriers to Growth
The report highlights the surge in electric vehicle sales globally. For instance, China sold 26.3 million cars in 2021, while India recorded electric vehicle sales of 3,29,190 units in the same year. The United States saw a doubling of electric vehicle sales in 2021, reaching 608,000 units. Despite the promising growth, barriers such as charging station scarcity in many cities, inadequate infrastructure, and range anxiety need to be addressed to unlock the full potential of the market.
Some of the major players operating in the Global Electric Vehicle On-Board Charger market include:
- Meta System S.p.A
- Robert Bosch GmbH
- BorgWarner Inc
- HELLA GmbH & Co. KGaA
- Lear Corp.
- Ficosa Internacional SA
- BRUSA Elektronik AG
- YAZAKI Corporation
- KOSTAL Automobil Elektrik GmbH & Co. KG
- Analog Devices, Inc.
“Many companies are investing in research and development for the innovation of electric vehicle charging infrastructure. As the adoption of electric vehicles is increasing with time in many countries the government is in plan to add more and more charging stations and battery manufacturing companies are in plan to launch new on-board chargers in the market for the easily arability of charger for electric vehicle owners. This will further help in driving the Global Electric Vehicle On-Board Charger market in the coming years. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Electric Vehicle On-Board Charger Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Propulsion Type (Battery Electric Vehicles (BEVs), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Charging Power (<=6.6kW, 6.7-11.0kW, 11.1-22.0kW, >22.0kW), By Distribution Channel (OEMs, Aftermarket), By Design Type (Unidirectional, Bidirectional), By Product Type (Without Embedded DC/DC Converter, With Embedded DC/DC Converter), and By Region,” has evaluated the future growth potential of Global Electric Vehicle On-Board Charger Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Electric Vehicle On-Board Charger Market.
Discover key insights about the global electric vehicle on-board charger market through our sample report:
- Government Initiatives and EV Penetration: Understand how rising government initiatives for charging infrastructure and increasing electric vehicle adoption are shaping the demand for on-board chargers.
- Challenges and Limitations: Explore the challenges posed by the lack of standardized charging protocols and the impact of fast DC charger installations on market expansion.
- Two-Way On-Board Charger Potential: Learn about the potential opportunities brought by the development of two-way on-board chargers (V2G) for future electric and hybrid vehicles.
- Role of On-Board Chargers: Dive into the role of on-board chargers, which convert AC power to DC electricity for efficient charging of electric vehicle batteries.
- Comprehensive Market Segmentation: Gain insights into the market segments based on charging power, propulsion type, vehicle type, design, product type, region, and competitive landscape.
- Shift to Sustainable Energy Sources: Discover the significance of electric vehicles in promoting sustainable development and reducing dependence on fossil fuels.
- Global EV Demand: Explore the surge in global electric vehicle sales, including China’s 26.3 million car sales, India’s 3,29,190 electric vehicle units, and the doubling of electric vehicle sales in the United States in 2021.
- Strategic Industry Actions: Learn about strategic measures taken by key players in the on-board charger industry, exemplified by BRUSA Elektronik’s improved on-board fast charger.
- Addressing Barriers to Growth: Understand challenges such as charging station scarcity, infrastructure limitations, and range anxiety that need to be addressed to fully unlock the market’s potential.
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This report will be of great value to:
- Industry professionals seeking insights into the electric vehicle on-board charger market trends, challenges, and opportunities.
- Investors looking to make informed decisions about investments in the growing electric vehicle industry.
- Policymakers aiming to understand the dynamics of electric vehicle adoption and its impact on charging infrastructure.
- Researchers interested in studying the technological advancements and market developments in electric vehicle charging solutions.
- Analysts who want to stay updated on the latest market trends and competitive landscape of on-board chargers for electric vehicles.
- Automotive manufacturers and suppliers seeking to align their strategies with the evolving market demands in the electric vehicle sector.
- Sustainable development advocates aiming to explore the role of electric vehicles in reducing environmental impact and fossil fuel consumption.
Download Free Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=14706
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