On-board Charger Market Growth, Trends and Report Highlights

According to a new report Global On-Board Charger Market, published by KBV research, The Global On-Board Charger Market size is expected to reach $10 billion by 2027, rising at a market growth of 16.2% CAGR during the forecast period.

The Battery Electric Vehicle (BEV) market is generating high revenue in the Global On-board Charger Market by Propulsion Type 2020, thereby, achieving a market value of $6.7 billion by 2027. The propulsion in a Battery Electric Vehicle (BEV) is provided by a plug-in charged battery. The rise of BEVs is propelling the segment forward. Several firms, including Volkswagen, Audi, and Mercedes-Benz, have the largest market share in the BEV class.

The Buses market shows highest growth rate of 15.3% during (2021 - 2027). The growth of the segment is likely to be surged by an increase in sales of zero-emission buses around the world. Electric bus sales are predicted to increase to 83 percent by 2040, according to estimates published by Sustainable Bus, a digital magazine focused on the electric bus business.

The Less than 11 kW market acquired maximum revenue share in the Global On-board Charger Market by Power Output 2020, thereby, achieving a market value of $5.3 billion by 2027. In the future years, most electric vehicles will have on-board chargers ranging from 6 to 11 kW. Simultaneously, the advantages given by less than 11 kW on-board chargers, such as better charging efficiency and enhanced performance, are projected to propel the growth of the segment.

The Asia Pacific market is the fastest growing region in the Global On-board Charger Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.7 billion by 2027. The Europe market is expected to witness a CAGR of 15.7% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 16% during (2021 - 2027).

Full Report: https://www.kbvresearch.com/on-board-charger-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Current Ways, Inc., Eaton Corporation PLC, STMicroelectronics N.V., Infineon Technologies AG, Bel Fuse, Inc., TDK Corporation (InvenSense), Toyota Motor Corporation, BorgWarner, Inc., Panasonic Corporation, and AVID Technology Limited.

Global On-board Charger Market Segmentation

By Propulsion Type
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)

By Vehicle Type
• Passenger Car
• Buses
• Vans
• Medium & Heavy-Duty Vehicles
• Boats
• Others

By Power Output
• Less than 11 kW
• 11 kW to 22 kW
• Others

By Geography

North America
• US
• Canada
• Mexico
• Rest of North America

Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific

LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled
• Current Ways, Inc.
• Eaton Corporation PLC
• STMicroelectronics N.V.
• Infineon Technologies AG
• Bel Fuse, Inc.
• TDK Corporation (InvenSense)
• Toyota Motor Corporation
• BorgWarner, Inc.
• Panasonic Corporation
• AVID Technology Limited