The global in-vehicle charger market is expected to reach $43.94 billion by 2032, from $2.16 billion in 2021, growing with a CAGR of 29.54% during the forecast period 2022-2032.

New York, Aug. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “On-Board Charger Market – A Global and Regional Analysis: Focus on Product, Application, and Country-Wise Analysis – Analysis and Forecast, 2022 -2032” – https://www.reportlinker.com/p06311958/?utm_source=GNW
The major market development activities are expected to be boosted by the ongoing research and development activities in the manufacturing of high performance on-board chargers.

The global on-board charger market is still growing. A growing fleet of electric vehicles is propelling the sales of the on-board charger in the market.

As a result, the global on-board charger market is expected to flourish over the forecast period.

Impact

• The government and federal agencies are investing heavily in subsidies and infrastructure development to promote electric vehicles and reduce carbon dioxide emissions.
• In 2020 and 2021, many European countries have launched the initiative to offer incentives to those who buy electric vehicles. For example, in July 2021, Germany launched a new initiative to offer incentives of up to $10,200 for electric vehicle buyers and $7,600 for hybrid vehicle buyers. Similarly, France is offering incentives of up to $6,800 to buyers of electric vehicles.

Impact of COVID-19

The impact of the COVID-19 pandemic on the global on-board charger market has been negligible. Despite the pandemic, there has been a slight increase in sales of on-board chargers.

The COVID-19 pandemic has greatly heightened people’s environmental awareness. For this reason, more and more people are considering buying durable vehicles.

This will propel the global on-board charger market.

Market segmentation :
Segmentation 1: by type of propulsion
• Battery Electric Vehicles (BEV)
• Plug-in hybrid electric vehicles (PHEV)

Based on the propulsion-type segment, the global on-board charger market is expected to be dominated by the battery electric vehicle segment during the forecast period.

Segmentation 2: by type of vehicle
• Passenger vehicles
• Commercial vehicles

The passenger vehicle segment is expected to be the leading segment of the market as sales of electric passenger vehicles are expected to increase globally.

Segmentation 3: by load power
• <=6.6kW
• 6.7 – 11.0kW
• 11.1 – 22.0kW
• > 22.0kW

In 2021, the <= 6.6 kW segment led the global on-board charger market (in charging power) due to the increase in sales of electric vehicles equipped with these on-board chargers.

Segmentation 4: by design type
• Unidirectional
• Bidirectional

In terms of design type, one-way was the predominant segment in 2021. During the forecast period, two-way segment is expected to grow at a high rate as compared to one-way segment.

Segmentation 5: by product type
• Without integrated DC/DC converter
• With integrated DC/DC converter

Segmentation 6: by distribution channel
• OEM
• Secondary market

The OEM distribution channel segment dominated the global on-board charger market (by distribution channel) in 2021. This was due to low replacement rate of on-board charger and increasing production of electric vehicles by OEMs .

Segmentation 7: by Region
• North America
• Asia-Pacific and Japan
• China
• Europe
• UK
• South America
• Middle East and Africa

China generated the highest revenue of $1.28 billion in 2021, which is attributed to the increase in electric vehicle sales in China. The on-board charger market is attractive in China owing to the availability of various market segments.

Recent developments in the on-board charger market

• In 2020, Innolectric AG announced the production of its 22 kW three-phase on-board chargers for electric vehicles. The new chargers, developed in partnership with STMicroelectronics, use highly efficient silicon carbide power modules, so efficiency is over 94% and peaks at 96% in the 2-10kW range.
• In 2020, BorgWarner Inc. announced that it had completed its acquisition of Delphi Technologies. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s electronics and power electronics products.
• In 2021, MTA announced the purchase of an 80% stake in EDN, an Italian company that develops and produces power converters and on-board battery chargers for use in hazardous environments and electric cars.
• In 2021, Eaton, an energy management company, recently announced the acquisition of Green Motion SA, a leading designer and producer of hardware and software for electric vehicle charging.
• In 2022, the acquisition of Hella was finalized, according to Faurecia. Faurecia and HELLA launched FORVIA, the new name of the combined Group, following the successful acquisition by Faurecia of a majority stake in HELLA.

Demand – Drivers and Limits

Following are the demand drivers for the on-board charger market:
• High cost associated with fast charging systems
• Demonstration of environmental commitment and its support of brand values
• Germination of new government policies and initiatives
• Prohibition of the production of ICE vehicles
• Increased adoption of on-board DC-DC on-board chargers

The market is also expected to face some limitations owing to the following challenges:
• Growing push from government for rollout of fast charging stations/highways
• Technological advancement in electric vehicle charging infrastructure
• On-board charger size maintained despite increasing demand for high performance

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of EV in-vehicle chargers available by drive type, vehicle type, product type, design type, and distribution channel. The growing demand for electric vehicles in the world sale of on-board chargers.

Therefore, the on-board charger business is a high investment and revenue generating model.

Growth/Marketing Strategy: The global on-board charger market is growing exponentially, with huge opportunities for market players. Some strategies covered by this segment are product launches, partnerships and collaborations, business expansions and investments.

The preferred strategy for companies has been product launches, partnerships and collaborations to strengthen their positions in the global on-board charger market.

Competitive Strategy: The key players in the Global On-board Charger Market analyzed and profiled in the study involve manufacturers of on-board charger based products and component/subsystem suppliers. The Chargers Market has been made to help the reader understand how the players compare to each other, presenting a clear market landscape.

Moreover, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand the untapped revenue pockets in the market.

Key Market Players and Competition Summary

The companies profiled have been selected based on input collected from primary experts and analysis of company coverage, product portfolio and market penetration.

Some of the most prominent established names in this market are:
Business Type 1: Tier 1 Manufacturers

• Meta System SpA
• Robert Bosch GmbH
• BorgWarner Inc.
• HELLA GmbH & Co. KGaA
• Lear Corp.
• Ficosa International SA
• BRUSA Elektronik AG
• YAZAKI Company
• KOSTAL Automobil Elektrik GmbH & Co. KG

Business type 2: Tier 2 (component suppliers)

• Texas Instruments Incorporated
• STMicroelectronics
• Analog Devices, Inc.
• Semiconductor Component Industries, LLC
• Infineon Technologies AG
• Wolfspeed, Inc.

Countries covered
• North America
• WE
• Canada
• Mexico
• South America
• Brazil
• Rest of South America
• Europe
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• United Kingdom (United Kingdom)
• China
• Asia-Pacific and Japan
• Japan
• India
• South Korea
• Rest of Asia-Pacific and Japan
Read the full report: https://www.reportlinker.com/p06311958/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

        

#global #invehicle #charger #market #expected #reach #billion #billion #growing #CAGR #forecast #period

Add Comment