The latest report by IMARC Group, titled "On-Board Charger Market Report by Power (Less Than 11 kW, 11 kW to 22 kW, More Than 22 kW), Vehicle Type (Passenger Car, Buses, Vans, Medium and Heavy Duty Vehicles, Boats, and Others), Propulsion Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV)), Distribution Channel (OEMs, Aftermarket), and Region 2025-2033," finds that the global on-board charger market size reached USD 7.6 Billion in 2024. An on-board charger (OBC) is an essential component in electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) that plays a crucial role in managing the charging process. It is a device designed to convert alternating current (AC) from an external power source, such as a charging station or wall outlet, into direct current (DC) for charging the vehicle's battery pack. OBC comprises components, such as rectifiers, transformers, power electronics, and control circuitry. The rectifiers convert the incoming AC power to DC, while the transformers modify the voltage levels as required. The power electronics manage the flow of electricity and control the charging process. The control circuitry monitors the condition of battery and communicates with the vehicle's management system to ensure safe and efficient charging. It performs several tasks during the charging process, including voltage conversion, current regulation, and monitoring of the charging parameters. The charger adjusts the voltage and current levels according to the battery's state of charge and the charging protocol being used.
Global On-Board Charger Market Trends:
One of the primary factors driving the market is the rising awareness about environmental concerns and the increasing need to reduce greenhouse gas emissions. As electric vehicles become more mainstream, the demand for efficient and high-performance OBCs is also escalating. Additionally, governments of different nations are implementing various policies and regulations, including financial incentives, tax benefits, and stricter emission standards, to promote the adoption of electric vehicles. Such initiatives are contributing to market growth as they create a favorable environment for electric vehicle manufacturers and encourage investment in charging infrastructure. Other than this, there has been significant progress in the development of fast-charging stations and wireless charging technologies. These advancements require advanced OBCs capable of handling higher power levels and supporting different charging standards, thus accelerating the sales of OBCs. Moreover, collaboration between automotive manufacturers, OBC suppliers, and charging infrastructure providers is positively influencing the market growth. Partnerships enable the development of interoperable solutions, standardized charging protocols, and integrated charging networks, which enhance the convenience and accessibility of electric vehicle charging. Looking forward, IMARC Group expects the market value to reach USD 30.7 Billion by 2033, exhibiting a CAGR of 15.92% during the forecast period (2025-2033).
Market Summary:
- On the basis of the power, the market has been segmented into less than 11 kW, 11kW to 22 kW, more than 22 kW. Currently, 11 kW to 22 kW represents the largest segment.
- Based on the vehicle type, the market has been classified into passenger cars, buses, vans, medium and heavy-duty vehicles, boats, and others. Passenger cars are the most popular vehicle type.
- On the basis of the propulsion type, the market has been bifurcated into battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV). At present, battery electric vehicle (BEV) accounts for the majority of the market share.
- Based on the distribution channel, the market has been segmented into OEMs and aftermarket.
- Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) exhibits a clear dominance in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Bel Fuse Inc., BRUSA Elektronik AG, Delta Energy Systems, Ficosa International SA, Innolectric AG, KOSTAL Automobil Elektrik GmbH & Co. KG, Robert Bosch GmbH, Semiconductor Components Industries LLC, Stercom Power Solutions GmbH, STMicroelectronics N.V., Texas Instruments Incorporated, and Toyota Industries Corporation.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2024 |
Historical Period |
2019-2024 |
Forecast Period |
2025-2033 |
Units |
Billion USD |
Powers Covered |
Less Than 11 kW, 11 kW to 22 kW, More Than 22 kW |
Vehicle Types Covered |
Passenger Car, Buses, Vans, Medium and Heavy Duty Vehicles, Boats, Others |
Propulsion Types Covered |
Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV) |
Distribution Channels Covered |
OEMs, Aftermarket |
Regions Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
Bel Fuse Inc., BRUSA Elektronik AG, Delta Energy Systems, Ficosa International SA, innolectric AG, KOSTAL Automobil Elektrik GmbH & Co. KG, Robert Bosch GmbH, Semiconductor Components Industries LLC, Stercom Power Solutions GmbH, STMicroelectronics N.V., Texas Instruments Incorporated, Toyota Industries Corporation, etc. |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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