North America Dominates the Global Electric Vehicle On-Board Charger Market
Increasing adoption of
electric vehicles and government incentives on purchase of electric vehicles
are driving the demand for Global Electric Vehicle On-Board Charger Market.
According to the TechSci Research
report, "Electric Vehicle On-Board Charger Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,"
Rising government initiatives to develop the infrastructure
for charging electric vehicles and their related parts, as well as growing
electric vehicle penetration, are driving the market for on-board chargers for
electric vehicles. The lack of electric
vehicle charging standards and the rising number of fast DC
charger installations, however, are limiting the market's expansion.
Additionally, the development of a two-way on-board charger (V2G) for future
electric and plug-in hybrid vehicles offers companies in the electric vehicle
on board charger market substantial potential opportunities. An on-board
charger for electric vehicles converts AC power from a charging station to DC
electricity so that a 350V or 650V battery within the car can be charged. The
on-board charger is intended to charge the battery for a prolonged period of
time and has a low charging rate (typically 5–8 h for full charge). Charging Power, propulsion type, vehicle type, design type,
product type, region and competitional landscape are the market segments for
electric vehicle onboard chargers.
Because
it is a fossil fuel, gasoline cannot be renewed as a source of energy and will
eventually run out. The creation and utilization of alternative fuel sources is
crucial for promoting sustainable development. This entails the usage of
electric vehicles, which are more cost-effective than traditional automobiles
and do not require gasoline. The numerous benefits that electric vehicles
provide, including their lower fuel (petrol, diesel, and gas) consumption and
reduced exhaust emissions, have greatly increased demand for them around the
world.
Browse more thanXX market data Figures spread through XX Pages and an in-depth TOC on "Global Electric Vehicle On-Board Charger Market"
The demand for on-board chargers for electric or plug-in hybrid vehicles
is then anticipated to increase during the projected period as a result of
this. Key players in the on-board charger industry, which is necessary for
electric vehicles, are also taking several strategic actions to maximize their
commercial opportunities. For instance, the performance of the onboard fast
charger (NLG664) has been improved by Swiss auto component manufacturer BRUSA
Elektronik. This charger has the option to charge at up to 7 kW from a
single-phase AC outlet and can charge a normal EV battery utilizing 3-phase AC
power up to 22 kW in less than an hour. Additionally, the Smart Fortwo,
Electric Truck E-FORCE, Volvo C30 Electric Generation II, and SUNCAR's first
electric excavator all include this on-board charger. For electric vehicles to be widely used, the
infrastructure for charging them is essential. In order to supply EV charging
stations all around the world, several government programs have been launched.
One such project was the deployment of more than 200 EV charging stations across
India by the Automotive Research Association of India (ARAI). In addition, Tata
Power, an Indian electric utility firm and member of the Tata Group (India),
supports the National Electric Mobility Mission of the Indian government by
constructing the nation's first set of electric vehicles charging stations in
Mumbai. Additionally, China is stepping up its efforts to preserve its
leadership in the race to adopt electric vehicles by intending to invest USD1.42
billion this year to expand the nation's charging network by 50% in order to
encourage EV deployment. Additionally, the surge in demand for electric
vehicles has been fueled by an increase in the number of level 1 and level 2
charging stations and infrastructure (AC-to-DC). This is then anticipated to
fuel the development of the on-board charger that is included with them.
According
to the China Association of Automobile Manufacturers, China sold 26.3 million
cars in 2021. In India the total number of electric vehicle sales in the year
2021, was 3,29,190 units. The sales of electric vehicle in United States of
America were recorded around 608,000 units in 2021, which was double from 2020,
the electric vehicle sales were recorded for 308,000 units. These sales include
New Plug-in Electric Vehicle, Sales of new light-duty plug-in electric
vehicles, including all-electric vehicles (EVs) and plug-in hybrid electric
vehicles (PHEVs).
There
is no alternate source available for charging the battery supply in electric
vehicles. A significant barrier to the expansion of the global market for
on-board electric car chargers is the lack of charging stations in the majority
of cities. Quality of infrastructure and range anxiety can potentially cause
issues for electric vehicles and risk the driver's safety. Additionally,
developing nations have less of the necessary infrastructure in place for the
use of electric vehicles. In rural areas, where many households lack a specific
parking space, due to this charging an electric vehicle is a challenge for the
rural areas. Furthermore, sales of electric automobiles and commercial vehicles
are significantly lower than sales of vehicles powered by internal combustion
engines (ICE) outside of China due to the lack of technological maturity in
these markets. Additionally, even though Palo Alto, California-based Tesla, an
American electric vehicle and renewable energy company, is growing its network
of chargers, they are made exclusively for Tesla cars. The 120- and 240-volt
plugs, which are generally used in houses, have been standardised by the
automobile industry. However, the plugs or ports that can charge vehicles in
under 30 minutes have not yet been standardised. As a result, the growth is
being hampered by all of these problems as well as the various rates at
charging stations.
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.
Download Free Sample Report
Customers can also request for 10% free
customization on this report.
“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.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com