Global $13.96 Bn On-board Charger Market to 2028

Dublin, Sept. 20, 2021 (GLOBE NEWSWIRE) -- The "Global On-board Charger Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global on-board charger market size is expected to reach USD 13.96 billion by 2028, registering a CAGR of 17.2% from 2021 to 2028.

The market growth can be attributed to the increase in electric car sales globally. According to the statistics provided by the IEA organization, in 2019, electric car sales accounted for 2.1 million, registering a 40% year-on-year growth.

The ban imposed by various governments on the use of fossil fuel vehicles is expected to increase the sales of electric vehicles, which is subsequently expected to create the need for on-board chargers. In the U.K., the government has released its plan of banning new fossil fuel vehicle sales by 2030 to help accentuate electric vehicle use. Additionally, in the U.S., California is also expected to ban the sales of gasoline-powered new trucks and passenger cars by 2035.

Tax benefits provided on the purchase of electric cars are also one of the major factors driving the market growth. In the U.K., significant tax benefits are being provided to company fleet operators and car drivers for switching to electric vehicles from April 2020. The zero tax rate will be applicable for electric vehicles with a range of over 130 miles and hybrid vehicles with emissions from 1 to 50 g/km.

The outbreak of the COVID-19 pandemic negatively impacted the market growth at the initial stages; however, the subsidies provided by various countries on the purchase of electric vehicles during the pandemic boosted the EV sales in the latter stage of the pandemic. For instance, in July 2020, the Chinese government extended the period of its subsidy program for new energy vehicles by two more years. Thus, the program that was expected to end by 2020 will be ending in 2022.

On-board Charger Market Report Highlights

• The less than 11 kW segment is expected to witness the highest growth over the forecast period. The segment growth can be attributed to the growth in electric vehicle charging at homes

• The buses segment is expected to witness the highest growth over the forecast period. The rise in sales of electric buses across the globe is expected to accentuate the segment growth

• The Plug-In Hybrid Electric Vehicle (PHEV) segment is expected to witness the highest growth over the forecast period. Increased fuel efficiency and a longer driving range offered by a PHEV is driving the segment growth

• The Asia Pacific regional market is expected to witness the highest growth owing to the increasing government initiatives for adopting electric vehicles in the emerging economies of the region

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary
2.1 On-board Charger Market - Industry Snapshot & Key Buying Criteria, 2017 - 2028
2.2 Global On-board Charger Market, 2017 - 2028

Chapter 3 On-board Charger Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 On-board Charger Market - Value Chain Analysis
3.4 On-board Charger Market - Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Increasing penetration of electric vehicles
3.4.1.2 increasing government efforts for promoting sales of electric vehicles
3.4.2 Market challenge analysis
3.4.2.1 Lack of standardization of electric vehicle charging
3.5 Penetration and Growth Prospect Mapping
3.6 On-board Charger Market - Porter's Five Forces Analysis
3.7 On-board Charger Market - PESTEL Analysis

Chapter 4 On-board Charger Power Output Outlook
4.1 On-board Charger Market Share By Power Output, 2020
4.2 Less than 11 kW
4.3 11 kW to 22 kW
4.4 More than 22 kW

Chapter 5 On-board Charger Vehicle Type Outlook
5.1 On-board Charger Market Share By Vehicle Type, 2020
5.2 Passenger Car
5.3 Buses
5.4 Vans
5.5 Medium & Heavy Duty Vehicles
5.6 Boats
5.7 Others

Chapter 6 On-board Charger Propulsion Type Outlook
6.1 On-board Charger Market Share By Propulsion Type, 2020
6.2 Battery Electric Vehicle (BEV)
6.3 Plug-in Hybrid Electric Vehicle (PHEV)

Chapter 7 On-board Charger Regional Outlook
7.1 On-board Charger Market Share By Region, 2020

Chapter 8 Competitive Analysis
8.1 Recent Developments and Impact Analysis, by Key Market Participants
8.2 Competitive Dashboard Analysis
8.3 Company Market Positioning Analysis
8.4 List of Key Emerging Companies/Technology Disruptors/Innovators
8.5 Company Geographical Presence

Chapter 9 Competitive Landscape

• Bel Fuse Inc.

• Delta Energy Systems

• STMicroelectronics

• Toyota Industries Corporation

• Eaton

• Stercom Power Solutions GmbH

• innolectric AG

• BRUSA Elektronik AG

• AVID Technology Limited

• Ficosa International SA

For more information about this report visit https://www.researchandmarkets.com/r/jhsa9t

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