The Global On Board Charger (OBC) market size was USD 2.33 Billion in 2020 and is expected to register a revenue CAGR of 27.8% during the forecast period, according to latest analysis by Emergen Research.
Rising demand for Electric Vehicles (EVs) and deployment of Alternating Current (AC) OBCs due to low cost and ease of recharging batteries in EVs wherever an electrical power outlet is available is a major factor driving market revenue growth between 2021 and 2028. In addition, increasing demand for OBCs for passenger cars will drive revenue growth of the market. Pollution has become a serious problem around the globe and it must be addressed. If pollution exceeds a certain level, it can be detrimental to environment and will contribute to global warming. Moreover, EVs are eco-friendly and a viable solution to global warming since these do not emit toxic compounds. Users prefer EVs to other combustion engines and fossil fuel-powered vehicles due to low operating and maintenance costs. AC charging is affordable and readily available in various places where an AC power socket is accessible. Furthermore, passenger car owners prefer OBCs because these are more flexible and safer since battery heating is less than other chargers.
The report considers COVID-19 as a key contributor of the dynamically altered market scenario. The report covers a comprehensive impact analysis of the global health crisis on the overall growth of the market. Furthermore, the report covers the current and future impact of the COVID-19 crisis on the market and its key segments.
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Some Key Highlights From the Report
The Less than 11 kW power output segment is expected to register a substantially rapid revenue CAGR during the forecast period due to increasing demand for charging at home or in residential complexes owing to lower prices than public charging stations. Charging at public charging stations can cost twice as much as charging at home owing to use of commercial electricity rates. Power output of a residential building is always less than 11 kW.
The passenger car segment is expected to register a significantly robust revenue growth rate over the forecast period due to rising need for charging flexibility. Electric car owners can charge their vehicles anywhere there is an AC power outlet, making it easier to charge batteries of electric cars.
The BEV segment is expected to register a substantially rapid revenue CAGR during the forecast period. This is due to increasing need for low-cost modes of transportation, as compared to vehicles powered by combustion engines or fossil fuels, BEVs are also less expensive to operate and maintain.
The Europe market is expected to register a considerably large revenue share in the OBC market over the forecast period. This is due to robust presence of major market players providing OBCs, such as STMicroelectronics, AVID Technology Limited, BRUSA Elektronik AG, Innolectric AG, and Stercom Power Solutions GmbH, among others, in countries in the region.
The Global On Board Charger Market Report is a panoramic study of the overall On Board Charger Market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the On Board Charger Market. The report provides a detailed analysis of the key factors of the On Board Charger Market that are expected to have a positive impact on the growth of the On Board Charger Market industry.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8-year analysis of the Global On Board Charger Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
Key companies operating in the On Board Charger Market include:
Toyota Industries Corporation, Eaton Corporation, STMicroelectronics, Bel Fuse Inc., Delta-Q Technologies Corp., AVID Technology Limited, BRUSA Elektronik AG, Current Ways Inc., Innolectric GmbH, and Stercom Power Solutions GmbH.
The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the On Board Charger Market industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Emergen Research has segmented the global on board charger market based on power output, vehicle type, propulsion type, and region:
Power Output Outlook (Revenue, USD Billion; 2018–2028)
Less than 11 kW
11 kW to 22 kW
More than 22 kW
Vehicle Type Outlook (Revenue, USD Billion; 2018–2028)
Medium and Heavy Duty Vehicles
Propulsion Type Outlook (Revenue, USD Billion; 2018–2028)
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
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Regional Analysis (Revenue, USD Billion; 2018–2028)
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
Key regions in the market include:
Rest of EU
Rest of APAC
Rest of Latin America
Middle East & Africa
Rest of MEA
Key Questions Addressed in the Report:
Who are the leading players in the On Board Charger Market industry?
Which region is expected to dominate the market in the coming years?
What are the key applications of On Board Charger Market?
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by leading players in the market?
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