Electric vehicle on board charger market is expected to grow at a significant CAGR of 19.6% during the forecast period. An onboard charger is majorly used in the electric vehicle for charging the traction battery by converting the AC input received from the grid to the DC input. The rising number of AC private and public charging in the developed countries such as North America and Europe along with the approvals received for AC Level 2 charging stations are some major factors accelerating the market growth. For instance, in October 2020, EVBox announced that its EVBox Iqon, level 2 commercial charging station has received a UL certificate and is available for installation across North America. In Europe, it is the sole supplier of public charging infrastructure in cities such as Amsterdam, Rotterdam, and Monaco.
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An upsurge in technological advancements is shaping the global electric vehicles on board charger market. Major Key players operating in the electric vehicle charger sector are focused on inventing technological solutions for electric vehicles charger to meet the rising demand from the customers. For instance, in September 2021, ABB introduced a new Terra 360 modular charger which can simultaneously charge up to four vehicles with dynamic power distribution. The Terra 360, with charging options that fit a variety of needs, is the key to fulfilling the demand and accelerating e-mobility adoption globally. Moreover, the charger has a maximum output of 360 kW and is capable of fully charging any electric car in 15 minutes or less, meeting the needs of a variety of EV users.
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By Vehicle Type (Passenger Vehicles and Commercial Vehicles),
By Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV)),
By Power Output (<20KW, and <20KW),
Market Players Outlook
The major companies operating in the global electric vehicle on board charger market include Eaton Corp., Infineon Technologies AG, Toyota Industries Corp., BorgWarner Inc., and Innoelectric GmbH. The market players are contributing significantly to the market growth by the adoption of various strategies including partnerships, mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022, Faraday Future announced a new partnership with Meta System to become the supplier of onboard power management module products for the FF91 and upcoming 81 electric vehicles. Using Meta System’s onboard battery charger, the system will be capable of 15.2 kW AC charging.
The Report Covers
Market value data analysis of 2021 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global electric vehicle on board charger market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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