The global On-Board Battery Charger Market was worth USD 4.05 Billion in 2020 and is poised to register a CAGR of 17.2%, thereby amassing a valuation of USD 19.80 Billion in 2030
An on-board charger (OBC) is used in an electric vehicle (EV), hybrid electric vehicle (HEV) or in plug-in hybrid vehicles to charge the traction battery.
The on-board charger system equipped in electric vehicle that converts the AC input from the grid to a DC input, which further charges the battery.
The electronic components used in on-board charger (OBC) offers the means to recharge the battery from the AC mains either at home or from outlets found in private or public charging stations.
The on-board charger in electric vehicles consists of the unit that includes variety of signal conditioning solutions, integrated high voltage isolation AC-DC converters, AC rectifiers, dual bridgeless power factor correction (PFC), gate drivers, error amplifiers and many other power electronic components.
On-board charger (OBC) is majorly employed in a battery electric vehicle (BEV) or hybrid electric vehicle (HEV) to charge the traction battery ranging from 48V to 800V. EV and HEV will include a new and upcoming trend in power and transportation sector that will have a positive impact on economic and environmental fronts.
On-Board Battery Charger Market : Overview
The global on-board battery charger was worth USD 4.05 Billion in 2020 and is poised to register a CAGR of 17.2%, thereby amassing a valuation of USD 19.80 Billion in 2030.
The high cost of charging an electric vehicle at public charging stations is initiating the demand for on-board chargers in the current days.
The public chargers near highways, malls, and workplaces are subject to commercial electric rates, which are heightened as compared to residential rates.
This is creating the need for on-board chargers for an electric vehicle. An on-board charger is used in an electric vehicle for charging the traction battery by converting the AC input received from the grid to the DC input required to charge the batteries.
The rise in the number of AC private and public charging stations across the globe is one of the major factors driving the market growth.
The AC level 1 on-board charger is deployed in all types of electric vehicles and can be plugged into ordinary power outlets.
Key Trends: Growth Determinants and Challenges:
Increasing Demands for EVs:
The demand for electric vehicles is increasing widely across the globe. The adoption rate of electric vehicles is augmenting with the introduction of DC fast charging, wireless charging, ultrafast electric vehicle supply equipment (EVSE) that has the capacity to charge vehicle batteries to 100% within 15-30 minutes. The varied technologies and applications help the drivers to easily search for charging stations by using smartphones and navigation system in cars which may also boost the sale of electric vehicles.
The need for lower emissions, non-fossil energy sources:
The need for less emissions, non-fossil energy sources, and the development of advanced battery technologies have created new possibilities for the future of electric vehicles market. Different forms of government have implemented regulations to reduce the emissions, which is possible by employing pure electric powers or by an electric power with the internal combustion engine. According to findings, the in the electric vehicle market is amid the rising environmental concerns and improved technology, which is the primary driver of on-board charger market.
Competitive Landscape:
- Bel Fuse Inc.
- Delta Energy Systems
- STMicroelectronics
- Toyota Industries Corporation
- Eaton
- Stercom Power Solutions GmbH
- Innolectric AG
- BRUSA Elektronik AG
- AVID Technology Limited
- Ficosa Internacional SA
Segmental Analysis of On-Board Battery Charger Market
Based on Power Output
- Less than 10KW
- 10KW to 20kw
- More than 20KW
Based on Vehicle Type
- Electric Passenger Car
- Electric Vans
- Electric Buses
- Electric Medium Duty Vehicles
- Electric Heavy Duty Vehicles
- Electric Agriculture Tractors
- Electric Construction Equipment
- Electric Mining Vehicles
- Electric and Hybrid Boat Ships
Based on Propulsion Type
- BEV
- HEV
- PHEV
Based on Vehicle Type and Power Output
- Electric Passenger Car and Power Output
- Electric Buses and Power Output
- Electric Vans and Power Output
- Electric Medium Duty Vehicles and Power Output
- Electric Heavy Duty Vehicles and Power Output
- Electric Agriculture Tractors and Power Outputs
- Electric Construction Equipment and Power Output
- Electric Mining Vehicles and Power Output
- Electric and Hybrid Boat Ships and Power Output
Based on Region
NORTH AMERICA (Canada, US), EUROPE (Spain, UK, Germany, Italy, France), ASIA-PACIFIC (India, China, Thailand, Japan, South Korea), LATIN AMERICA (Colombia, Brazil, Mexico, Argentina), MIDDLE EAST & AFRICA (UAE, Saudi Arabia, South Africa)
Asia Pacific is anticipated to dominate the growth of On- Board Battery Charger Market. The major driving factors for the market are government efforts for promoting electric vehicle sales in countries such as China and India, commonness of large base of population in the region which is offering an opportunity for market. Additionally, rising government initiatives regarding green energy and several programs initiation of motivating people regarding adoption of EVs is further propelling to market growth.
Major Developments:
January 2021: Bel Power Solutions launches the BCL25-700-8, a bi-directional on-board battery charger in which up to 4 charging units can be connected in parallel, with efficiency near 94%. Bel Power says it’s possible to connect this charger to a charging station or directly to the grid to charge EV batteries.
January 2019: Brusa Elektronik initiated to upgrade to their first-generation wireless charging, which will enable electric vehicle drivers to charge the traction batteries of vehicles with powers ranging from 3.7 to 11 kW.
Major questions answered in the report:
- What are the major challenges, growth factors and trends in the global on-board battery charging market?
- Which top companies are contributing in the growth of global on-board battery charging market?
- Which regional segment holds the largest market share in the global on-board battery charging market?
Key Takeaways from the report:
- Growth determinants, challenges and trends in the market.
- Regional analysis coupled with other segmental analysis
- The global on-board battery charger was worth USD 4.05 Billion in 2020 and is poised to register a CAGR of 17.2%, thereby amassing a valuation of USD 19.80 Billion in 2030.
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