Global Electric Vehicle On-board Charger (OBC) Market is Expected to Grow a CAGR of 24.3% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Electric Vehicle On-board Charger (OBC) Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Electric Vehicle On-board Charger (OBC) Market generated revenue of around USD 2,780 million in 2020 and anticipated to grow at a CAGR of over 24.3% during the forecast period from 2021 to 2027 to reach around USD 12,888.6 million in 2027.

Global Electric Vehicle On-board Charger (OBC) Market, 2020 – 2027 (USD Million)

Browse the full report at  https://www.credenceresearch.com/report/electric-vehicle-on-board-charger-obc-market

An on-board charger is used in a hybrid electric vehicle, electric vehicle or in plug-in hybrid vehicles to charge the traction battery. This system equipped in EV that converts the input AC to a DC input, which charges the battery. The electronic components used in OBC offers to recharge the battery from AC at home or from outlets start in public or private charging places. The OBC in EV involves of the unit which comprises diversity of signal conditioning results, AC rectifiers, combined high voltage isolation AC-DC converters, double bridgeless power factor correction, error amplifiers, gate drivers, and several other power electronic components.

Key Trends in Global Electric Vehicle On-board Charger (OBC) Market

Increasing government initiatives for development of EV charging infrastructure

Increasing government initiatives for growth of electric vehicle charging setup is a factor expected to drive the growth of the Electric Vehicle (EV) on board charger market. Furthermore, growing government expenditure on infrastructure development of electric vehicle and rising disposable income are factors anticipated to support growth of the global market. Increasing R&D activities by key player and advancement in technology is projected to new opportunities to players operating in the global market. Furthermore, the growth of a 2-way on-board charger for electric vehicle and plug-in hybrid vehicle is expected to create market opportunities for the Electric Vehicle on board charger market over the forecast period.

Impact of COVID 19 on Electric Vehicle On-board Charger (OBC) Market

As the result of the coronavirus outbreak, the disease has spread across the globe. The sales of electric vehicle on board chargers have been dropped during few months of COVID-19 disease due to the decrease demand for electric vehicles across the globe. The export/import of raw material essential for the electric vehicle chargers and production activities in the electric vehicle industry have been stopped during lockdown to avoid spread of coronavirus.

Global Electric Vehicle On-board Charger (OBC) Market by Vehicle Type Insights

Passenger Cars, LCV, and HCV are some of the major vehicle types through Electric Vehicle On-board Charger (OBC). Passenger Cars segment accounted for the largest share in 2020 of the Electric Vehicle On-board Charger (OBC) Market in 2020.

Global Electric Vehicle On-board Charger (OBC) Market by Current Type Insights

AC and DC are the current type of Electric Vehicle On-board Charger (OBC) market. In 2020, AC segment accounted for the largest share of Electric Vehicle On-board Charger (OBC) Market.

Global Electric Vehicle On-board Charger (OBC) Market by Propulsion Type Insights

Global Electric Vehicle On-board Charger (OBC) Market is segmented based on Propulsion Type as BEV, HEV, and PHEV. BEV segment accounted for the largest share of the Electric Vehicle On-board Charger (OBC) Market in 2020.

Global Electric Vehicle On-board Charger (OBC) Market by Regional Insights

The North America market is expected to dominate the global Electric Vehicle On-board Charger (OBC) market in terms of revenue, due to increasing adoption of onboard chargers in this region. The US has been accepting onboard chargers with a power output among 3-3.7 kW. Now, Electric Vehicle manufacturers are onboard chargers with a power output more than 6.6 kW to decrease charging time. The Asia Pacific expected to witness fastest growth in terms of revenue in the global Electric Vehicle On-board Charger (OBC) market over the forecast period. China is expected to dominated the global market, while India is projected to grow at a significant rate in Asia-Pacific over the forecast period. Japan and China are the key markets for hybrid and EV on-board charger in Asia Pacific. Increasing adoption of innovative technologies is the prime factors that will facilitate the electric vehicle on-board charger market growth in Asia Pacific over the forecast period.

Global Electric Vehicle On-board Charger (OBC) Market Competitive Landscape

Most prominent players in the global Electric Vehicle On-board Charger (OBC) Market include Delphi Technologies, Infineon Technologies AG, Bel Power solution, Toyota Industries Corporation, BRUSA Elektronik AG, Current Ways Inc, Innoelectric GmbH, Eaton Corporation, Stercom Power Solutions GmbH, Xepics Italia SRL. The report covers very detailed profiles of these key players.

Market Segmentation

Global Electric Vehicle On-board Charger (OBC) Market by Vehicle Type, 2015 – 2027

· Passenger Cars

· LCV

· HCV

Global Electric Vehicle On-board Charger (OBC) Market by Current Type, 2015 – 2027

· AC

· DC

Global Electric Vehicle On-board Charger (OBC) Market by Propulsion Type, 2015 – 2027

· BEV

· HEV

· PHEV

Global Electric Vehicle On-board Charger (OBC) Market by Region, 2015 – 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

 

Global Electric Vehicle On-board Charger (OBC) Market: Key Players

· Delphi Technologies

· Infineon Technologies AG

· Bel Power solution

· Toyota Industries Corporation

· BRUSA Elektronik AG

· Current Ways Inc

· Innoelectric GmbH

· Eaton Corporation

· Stercom Power Solutions GmbH

· Xepics Italia SRL