According to a new market report published by Lucintel, 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 23% 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.
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In this market, electric vehicle on-board chargers are used in electric passenger cars, electric buses, electric vans, medium duty vehicles, heavy duty vehicles, and agricultural tractors. On the basis of comprehensive research, Lucintel forecasts that electric passenger cars will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the high amount of energy storage for long duration and opportunities for electric vehicles.
Within the global electric vehicle on-board charger market, the BEV segment is expected to witness the highest growth over the forecast period due to rising environmental concerns, improved technology, and upcoming trends in the power and transportation sectors.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the maintenance of leadership in electric vehicle adoption rate and increase in the number of level 1 & level 2 charging stations/infrastructure that will propel the rise in demand for 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. H BRUSA Elektronik AG, Bel Power solution, Current Ways Inc., Toyota Industries Corporation, Innoelectric GmbH, Eaton, Delphi Technologies, AVID Technology Limited, Infineon Technologies AG, and Ficosa Internacional SA are among the major suppliers of the electric vehicle on-board charger market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric vehicle on-board charger market by power output, vehicle type, propulsion type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Electric Vehicle On-Board Charger Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global electric vehicle On-Board charger market by power output, vehicle type, propulsion type, and region, as follows:
By Power Output [Value ($ Million) from 2015 to 2026]:
Less than 10kW
10kW to 20kW
More than 20kW
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Electric Passenger Cars
Electric Buses
Electric Vans
Medium Duty Vehicles
Heavy Duty Vehicles
Agricultural Tractors
By Propulsion Type [Value ($ Million) from 2015 to 2026]:
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.