On-Board Charger Market

On-Board Charger Market Size and Share:

The global on-board charger market size was valued at USD 7.61 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 30.71 Billion by 2033, exhibiting a CAGR of 15.92% from 2025-2033. Asia-Pacific currently dominates the on-board charger market share by holding over 43.2% in 2024. The market in the region is driven by strong electric vehicle (EV) adoption, increasing government incentives, expanding charging infrastructure, and continuous advancements in power electronics across key markets.

The global on-board (OBC) charger market growth is driven by rising consumer demand for long-range EVs, which necessitates efficient and high-power charging solutions. In addition, the increasing investments in smart grid integration are enabling bidirectional charging and supporting vehicle-to-grid (V2G) applications, which is aiding the market growth. Moreover, declining battery costs are making EVs more affordable, boosting adoption and strengthening the market share. Besides this, stringent emission regulations worldwide are pushing automakers to accelerate electrification efforts, boosting the market demand. Additionally, the increasing use of plug-in hybrid electric vehicles (PHEVs) is driving the market growth. For instance, in Sweden, PHEVs demonstrated resilience in 2024, with total sales of passenger cars reaching 63,087 units, reflecting their continued role in the transition to electrified mobility. Furthermore, ongoing technological advancements in wireless charging are shaping the future of OBC designs for seamless and contactless energy transfer, thus impelling the market growth.

The United States on-board charger (OBC) market demand is driven by federal and state EV policies, including tax credits and zero-emission mandates, which encourage automakers to integrate advanced charging technologies. For example, in 2023, the U.S. government continued to offer federal tax credits of up to $7,500 for qualifying EV purchases, promoting the adoption of electric vehicles and supporting the OBC market. In line with this, the growing fleet electrification, particularly in commercial and public transit sectors, boosts demand for high-efficiency OBCs, thus providing an impetus to the market. Concurrently, the rising consumer preference for long-range EVs increases the need for fast-charging, high-power OBCs, driving the market demand. Moreover, smart grid advancements support vehicle-to-grid (V2G) integration, enhancing charger capabilities and supporting the market growth. Furthermore, surging investments in domestic semiconductor manufacturing reduce supply chain constraints, contributing to the market expansion. Apart from this, strong research and development (R&D) initiatives by automakers and startups drive innovation in lightweight, compact, and bidirectional OBC designs, thereby propelling the market demand.

On-Board Charger Market Trends:

The rising electric vehicle (EV) sales

The surge in EV sales, fueled by increasing environmental awareness, advancements in EV technology, and a growing recognition of the long-term cost benefits of EVs, is influencing the OBC market trends. According to the International Energy Association (IEA), worldwide electric car sales reached 3.5 Million units in 2023 compared to 2022 for a total annual growth of 35%. Moreover, government agencies throughout the world implement multiple initiatives such as subsidies, tax benefits, and infrastructure funding to push EV adoption because they make electric vehicles accessible to larger consumer groups. EVs are also gaining popularity, driving the need for essential components, as OBCs serve as critical elements for battery management and vehicle operation. As a result, the industry growth is supported by rising investments and research activities due to EVs being established as a primary solution for cutting global carbon emissions.

Rapid technological advancements

Ongoing technological advancements are significantly enhancing the OBC market outlook. Modern OBCs feature diverse innovations that work to boost efficiency shorten charging durations and provide users with enhanced ease of use. The market growth also receives positive influence from two advancements in semiconductor technology which introduced silicon carbide (SiC) and gallium nitride (GaN) components that produce efficient compact chargers that operate at elevated power levels. For instance, the upcoming 300-mm fab equipment investment cycle in the global semiconductor industry will consume USD 400 Billion between 2025 and 2027. Besides this, smart charging technology helps schedule charging events and manage power usage as it aligns with the rising interest in smart grid systems. Furthermore, new thermal management innovations enable improved safety and extended lifetime of the device thereby strengthening the OBC market share.

Imposition of various government regulations and policies

Governments are implementing a variety of measures to promote the adoption of EVs as part of their broader environmental and energy strategies. According to India Brand Equity Foundation, in 2023, electric vehicle manufacturers received subsidies totaling USD 637 million (Rs. 5,294 crore) under Phase II of the FAME India Scheme for selling 11,79,669 EVs by December. Financial incentives consisting of tax credits together with subsidies and rebates reduce EV costs for potential buyers. Additionally, multiple nations have established goals to decrease vehicle exhaust levels while introducing compulsory electric mobility regulations which strengthen the market demand for EVs. Apart from this, the regulatory environment stimulates both consumer adoption of EVs and forces manufacturers to expand their EV ranges, fueling the market need for OBC systems. Also, the increasing government investments in EV charging infrastructure, improve the convenience as well as practicality of EV ownership, thereby expanding the OBC market size.

Heightened consumer awareness and preferences for sustainability

Modern consumers are more environmentally conscious and are actively seeking ways to reduce their carbon footprint. According to reports, total carbon dioxide (CO2) emissions will reach 41.6 Billion Tons in 2024 based on reports while the previous year recorded 40.6 Billion Tons. Current consumers find it simpler to choose a vehicle that matches their requirements due to the broad selection of EV models available at different price points. Furthermore, the social perception of EVs as modern vehicles shifts forward because of modern technological developments. Besides this, the increased customer awareness about sustainable transportation options and eco-friendly EVs leads to growing market demand for their essential components like OBCs.

Increasing expansion of charging infrastructure

The expansion of charging infrastructure is a critical factor transforming the OBC market forecast. For instance, the number of public charging stations in India reached 12,146 in February 2024 resulting in a remarkable 640 percent growth since the previous two years. In line with this, the practicality and buying appeal of EVs depend heavily on the number of available charging stations and their locations. Moreover, the expansion of charging infrastructure receives substantial funding from both public authorities and private sector organizations that support public charging points and residential charging systems. This move alleviates the primary concerns of EV buyers and demonstrates government support for electric mobility in the long term. Apart from this, fast-charging stations together with a growing number of charging stations directly influence the OBC market because these chargers are fundamental components of EV charging systems.

On-Board Charger Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global on-board charger market, along with forecasts at the global, regional, and country levels from 2025-2033. The market has been categorized based on power, vehicle type, propulsion type, and distribution channel.

Analysis by Power:

• Less Than 11kW
• 11kW to 22kW
• More Than 22kW

11kW to 22kW holds the largest market share in 2024. This segment offers an ideal balance of charging speed and compatibility with home and public infrastructure. It supports various vehicles, including premium cars, light commercial models, and some high-performance EVs. Chargers ranging from 11 kW to 22 kW shorten charging time compared to lower-powered alternatives while avoiding the high infrastructure and power requirements of faster chargers. They are especially suitable for urban areas and users without regular access to rapid charging stations.

Analysis by Vehicle Type:

• Passenger Car
• Buses
• Vans
• Medium and Heavy Duty Vehicles
• Boats
• Others

Passenger car leads the market with around 56.8% of the market share in 2024. This segment is driven by the widespread adoption of EVs among individual consumers. It includes a diverse range of vehicles, from compact cars to luxury sedans, catering to different consumer preferences and needs. Furthermore, the increasing environmental awareness, favorable government policies, and advancements in EV technology, which have made electric passenger cars more accessible and appealing, are contributing to the market growth. Additionally, manufacturers are continually expanding their EV offerings with improved range, performance, and affordability, further driving the market growth.

Analysis by Propulsion Type:

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

Battery Electric Vehicle (BEV) leads the market with around 68.8% of the market share in 2024. This segment is attributed to the growing popularity and adoption of fully EVs. BEVs, powered entirely by batteries, require efficient and reliable on-board charging systems to manage their energy needs. Furthermore, the increasing consumer preference for BEVs, owing to their environmental benefits, lower operating costs, and improved range and performance, is contributing to the market growth. Besides this, the implementation of various government incentives and regulations promoting zero-emission vehicles is positively influencing the market growth. Additionally, the expanding EV infrastructure and ongoing technological innovations in charging systems, which are continuously enhancing the convenience and practicality of owning a BEV, are fueling the market growth.

Analysis by Distribution Channel:

• OEMs
• Aftermarket

The OEM leads the market with its significant share in 2024. OEMs function as the main providers for OBCs that appear in newly manufactured electric vehicles by installing them in the production stage. The rising global EV production numbers drive this market segment because automotive manufacturers fulfill the growing market need for environmentally friendly transportation options. Stricter emission regulations and government incentives further push OEMs to enhance EV production. Apart from this, continuous technological advancements, such as higher-voltage architectures and bidirectional charging, are prompting OEMs to develop more efficient and compact OBC solutions to meet evolving industry standards.

Regional Analysis:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

In 2024, Asia-Pacific accounted for the largest market share of over 43.2%. The demand in this region is expanding due to the rapid growth of EV adoption in countries like China, Japan, and South Korea. Additionally, the region has become a hub for EV innovation and manufacturing, with significant investments in technology development and charging infrastructure. Moreover, the presence of major EV manufacturers and battery producers in Asia Pacific is contributing to the market growth. For example, BYD’s $1 billion EV plant in Indonesia, is set to produce 150,000 units annually by 2025, and Hyundai’s $50 billion investment in South Korea by 2026 to advance EV production. This further drives the substantial corporate investments in the automobile sector, booting the OCB market growth. Apart from this, the imposition of supportive policies by regional governments policies promoting EV adoption through subsidies and regulations is positively influencing the market growth.

Key Regional Takeaways:
 

North America On-Board Charger Market Analysis

The North America OBC market is experiencing steady growth, driven by the rising adoption of EVs and government incentives promoting clean transportation. OBCs, which convert alternating current (AC) power from charging stations into direct current (DC) power for EV batteries, are becoming more efficient with advancements in power electronics. In addition to this, the market in regions like the U.S. and Canada is supported by stringent emission regulations and expanding EV charging infrastructure. For instance, in January 2024, global electric vehicle (EV) and plug-in hybrid (PHEV) sales rose by 18% year-on-year, with the U.S. and Canada contributing approximately 130,000 units. Besides this, key players focus on enhancing charging speed and integrating silicon carbide (SiC) technology to improve energy efficiency. However, challenges such as high costs and grid limitations persist. Apart from this, the market is significantly fueled by technological innovation, increasing EV adoption, and supportive policies promoting sustainable mobility across North America.

United States On-Board Charger Market Analysis

The growing OBC adoption in the United States is primarily driven by the rising EV demand, due to enhancing consumer awareness and government incentives together with technological upgrades. The International Energy Association predicts that electric car sales in the United States will experience a 20% growth increase from the previous year 2024. The expansion of EV production by automakers meets rising customer demand so they require better charging solutions. EV owners benefit from greater convenience because of the rising preference for home charging systems that contribute to the increasing use of OBCs. Additionally, progress in both battery management systems and power electronics technology enhances OBC efficiency which positions them as indispensable components for EV vehicles. Furthermore, new fast-charging network developments motivate manufacturers to adopt onboard chargers which ensures charging compatibility between different charging stations. Moreover, the adoption of sustainable transportation and accelerating EV sales drive manufacturers to create improved OBCs that support multiple power capabilities and various charging protocols.

Europe On-Board Charger Market Analysis

The rising adoption of onboard chargers (OBC) in Europe is primarily driven by the expansion of charging infrastructure, improving accessibility and convenience for EV owners. The International Energy Association reported that in late 2023, Milence—a joint venture by Traton, Volvo, and Daimler—unveiled its HDV charger. Partnering with Hitachi Energy, they aim to establish 1,700 public charging stations across Europe by 2027. The widespread installation of public and private charging stations supports the seamless integration of OBCs into daily transportation. The growing OBC adoption is further propelled by regulatory mandates that encourage the development of standardized charging solutions, ensuring compatibility across various EV models. Advancements in bi-directional charging and grid integration are promoting OBCs that support vehicle-to-grid functionality. The growing penetration of high-capacity battery systems in electric vehicles is increasing the demand for efficient OBCs that optimize energy conversion. Furthermore, the rise of smart grid solutions is enhancing the synchronization between charging infrastructure and EVs, improving the efficiency and adoption of on-board charging systems.

Asia Pacific On-Board Charger Market Analysis

The growing OBC adoption in Asia-Pacific is influenced by the growing investments in automotive sectors, leading to rapid advancements in electric mobility. India Brand Equity Foundation reports that the automobile sector attracted a total foreign direct investment (FDI) inflow of approximately USD 35.65 billion between April 2000 and December 2023. As automotive manufacturers allocate significant capital toward EV production, the need for efficient OBCs has increased to support evolving vehicle architectures. The growing OBC adoption is further strengthened by regional policies that encourage domestic production of EV components, fostering innovation in charging technologies. Advancements in power conversion systems and compact charger designs are improving charging efficiency and driving integration into new vehicle models. The growing demand for hybrid and battery RVs is intensifying the need for versatile OBCs that optimize charging performance. Additionally, rising collaborations between automakers and technology providers are enhancing research and development in power electronics, ensuring the production of high-efficiency OBCs for diverse automotive applications.

Latin America On-Board Charger Market Analysis

The growing OBC adoption in Latin America is primarily fueled by the growing passenger car ownership due to growing disposable income, which is driving the expansion of the EV market. Reports indicate that Latin America will experience a 60% expansion of its total disposable income between 2021 and 2040. The decline in EV prices has motivated more customers to choose OBCs because they need convenient ways to charge their vehicles. Besides this, the adoption of OBC is growing because manufacturers offer more financing options that improve accessibility for EV ownership. Moreover, continuous advancements in power conversion systems along with improved battery management are driving efficiency improvements of OBCs to match developing vehicle structure needs. Furthermore, the rising demand for sustainable electric vehicles stems from consumer preference for efficient charging systems and this drives the integration of high-tech OBCs into EVs.

Middle East and Africa On-Board Charger Market Analysis

The increasing adoption of onboard chargers (OBC) in the Middle East and Africa is largely fueled by rising investments in smart city projects, which prioritize the development of EV charging infrastructure. According to reports, the governments of Saudi Arabia and the UAE have planned USD 50 Billion investments for smart city development up to 2025. The drive to improve modern urban transit systems generates intensified demand for reliable energy conversion systems provided by OBCs. Concurrently, the increasing popularity of OBCs receives support from government sustainability initiatives that drive the construction of charging infrastructure across broad areas. Moreover, ongoing advancement of integrated power management systems delivers higher efficiency standards to OBCs which boosts performance quality for urban electric mobility systems. Furthermore, the integration of public-private sector partnerships drives innovation in charging technology which strengthens OBC adoption throughout the developing EV marketplace in the region.

Competitive Landscape:

The competitive landscape of the OBC market is marked by intense innovation and strategic collaborations among key players. Major companies are investing in R&D to enhance charging efficiency, power density, and bidirectional charging capabilities. Moreover, automakers and Tier 1 suppliers are increasingly integrating gallium nitride (GaN) and silicon carbide (SiC) semiconductors to improve power conversion efficiency and reduce system weight. Strategic partnerships between automotive OEMs and charging solution providers are also growing, ensuring seamless vehicle-grid integration. Additionally, companies are focusing on modular and compact designs to support the shift towards higher-voltage architectures, such as 800V systems, for faster and more efficient EV charging.

The report provides a comprehensive analysis of the competitive landscape in the on-board charger market with detailed profiles of all major companies, including:

• 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

Latest News and Developments:

• October 2024: Nissan will launch an affordable AC-based bi-directional charging system in 2026, integrating an on-board charger to lower costs. This Vehicle-to-Grid (V2G) solution enables EV owners to store and supply electricity, reducing dependency on fossil fuels. Nissan’s system, certified under the UK’s G99 Grid Code, offers a cost-effective alternative to mono-directional chargers. The initiative aligns with Nissan’s Ambition 2030 vision, supporting a sustainable energy ecosystem.
• September 2024: ZAPI GROUP will showcase its full range of on-board chargers (OBC) at The Battery Show North America 2024, highlighting solutions from 350 W to 36 kW. Technical experts from ZIVAN, Delta-Q, and ZAPI GROUP will provide insights into seamless electrification integration. The company aims to enhance North American market awareness with its advanced charging technologies. Attendees can explore ZAPI GROUP’s latest innovations at booth 5622 in Detroit from October 7-10.
• August 2024: Coulomb Solutions Inc. (CSI) has begun production of its 40 kW On-Board Charger and EVSE Combo for commercial electric vehicles. First showcased at the ACT Expo in May, this innovation enables fleet and bus operators to charge overnight using existing infrastructure. The system supports 208V, 220V, and 240V single-phase power, delivering 40 kW output. It utilizes a NACS connector, allowing full overnight charging for heavy-duty EVs.
• June 2024: Texas Instruments and Delta Electronics have announced a long-term collaboration to advance EV onboard charging and power solutions. Their joint innovation lab in Pingzhen, Taiwan, will focus on improving power density, performance, and size. By leveraging TI's semiconductors, they aim to develop smaller, more efficient, and reliable EV power systems. This partnership seeks to accelerate safer, faster-charging, and more affordable electric vehicles.
• February 2024: VMAX has selected Infineon’s CoolSiC™ hybrid discrete for its next-generation 6.6 kW on-board charger (OBC). The solution combines TRENCHSTOP™ 5 IGBT and CoolSiC Schottky Diode, enhancing power density and efficiency. Infineon’s D²PAK package optimizes cost performance for various switching topologies. VMAX aims to improve reliability and stability, strengthening its collaboration with Infineon in new energy vehicles.

On-Board Charger Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the on-board charger market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global on-board charger market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's Five Forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the on-board charger industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.