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The future of the global electric vehicle on-board charger market looks promising with opportunities in the BEV, HEV, and PHEV segments. The global electric vehicle On-Board charger market is expected to grow with a CAGR of 22%-24% from 2021 to 2026. The major drivers for this market are increasing penetration of electric vehicles and increase in government initiatives for development of electric vehicles.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of a two-way on-board charger (V2G) for future electric and plug-in hybrid electric vehicles and development of electric vehicle charging infrastructure.
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