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Global On-board Charger Market to reach USD 12.3 billion by 2027.

Global On-board Charger Market Size study, by Power Output (Less than 11 kW, 11 kW to 22 kW and More than 22 kW), by Vehicle Type (Passenger Car, Buses, Vans, Medium & Heavy Duty Vehicles, Boats and Others), by Propulsion Type (Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV)), and Regional Forecasts 2021-2027

Product Code: ALTAMC-14459945
Publish Date: 2-09-2021
Page: 200

Global On-board Charger Market is valued approximately at USD 4.05 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 17.2% over the forecast period 2021-2027. An on-board charger is used to charge the traction battery in electric vehicle or hybrid vehicle. This charger converts the AC input from the grid into DC input to charge the battery of the vehicle. Rising awareness regarding environment protection has shifted focus of the customers towards electric vehicles, which is increasing the demand for on-board charger worldwide. For instance, according to USA Facts, all-electric vehicle sales in the United States increased from 86,731 units in 2016 to 2,41,912 units in 2019. Also, government initiatives to increase the adoption of electric vehicle and developing charging infrastructure has increased the demand for on-board chargers. Such as, in May 2019, Canadian government introduced a rebate of up to CA$5,000 (USD 3973) for electric-battery or hydrogen-fuel-cell vehicles, in which fully electric cars with sticker below CA$ 45000 (USD 35763) are eligible for full rebate and plug-in hybrids can qualify for up to CA$2,500 (USD 1986) off. Additionally, in August 2021, government of Australia funded USD 25 million to five companies for new Electric Vehicle (EV) chargers across metropolitan and regional Australia, to increase the adoption of electric vehicles across the region. Furthermore, lack of standardization of EV charging and increasing installation of fast DC chargers are expected to restrain the growth during forecast period. However, new product launches and growing installation of in-house charging by customers are anticipated to fuel the demand for product in coming years. For instance, in January 2020, Innolectric, launched a 22-kW silicon carbide on-board charger under partnership with STMicroelectronics.

Asia Pacific is leading the market among Asia Pacific, North America, Europe, Latin America, and Rest of the World, due to government support for adoption of electric vehicles and rising sales of EVs in countries such as China and India. Whereas, Europe is expected to grow with a significant growth rate during forecast period, owing to growing investment in charging infrastructure and presence of prominent automobile players in the region.
Major market player included in this report are:

Bel Fuse Inc.
Delta Energy Systems
Toyota Industries Corporation
Stercom Power Solutions GmbH
Innolectric AG
Brusa Elektronik AG
Avid Technology Limited
Ficosa Internacional SA

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Power Output:
Less than 11 kW
11 kW to 22 kW
More than 22 kW
By Vehicle Type:
Passenger Car
Medium & Heavy Duty Vehicles
By Propulsion Type:
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global On-board Charger Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. On-board Charger Market, by Region, 2019-2027 (USD Billion)
1.2.2. On-board Charger Market, by Power Output, 2019-2027 (USD Billion)
1.2.3. On-board Charger Market, by Vehicle Type, 2019-2027 (USD Billion)
1.2.4. On-board Charger Market, by Propulsion Type, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global On-board Charger Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global On-board Charger Market Dynamics
3.1. On-board Charger Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Government support to encourage EV adoption Growing penetration of electric vehicles
3.1.2. Market Restraint Lack of standardization of EV charging Increasing infrastructure of fast DC chargers
3.1.3. Market Opportunities New product launches Rising in-house charging points
Chapter 4. Global On-board Charger Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global On-board Charger Market, by Power Output
5.1. Market Snapshot
5.2. Global On-board Charger Market by Power Output, Performance – Potential Analysis
5.3. Global On-board Charger Market Estimates & Forecasts by Power Output 2018-2027 (USD Billion)
5.4. On-board Charger Market, Sub Segment Analysis
5.4.1. Less than 11 kW
5.4.2. 11 kW to 22 kW
5.4.3. More than 22 kW
Chapter 6. Global On-board Charger Market, by Vehicle Type
a. Market Snapshot
6.1. Global On-board Charger Market by Vehicle Type, Performance – Potential Analysis
6.2. Global On-board Charger Market Estimates & Forecasts by Vehicle Type 2018-2027 (USD Billion)
6.3. On-board Charger Market, Sub Segment Analysis
6.3.1. Passenger Car
6.3.2. Buses
6.3.3. Vans
6.3.4. Medium & Heavy Duty Vehicles
6.3.5. Boats
6.3.6. Others
Chapter 7. Global On-board Charger Market, by Propulsion Type
b. Market Snapshot
7.1. Global On-board Charger Market by Propulsion Type, Performance – Potential Analysis
7.2. Global On-board Charger Market Estimates & Forecasts by Propulsion Type 2018-2027 (USD Billion)
7.3. On-board Charger Market, Sub Segment Analysis
7.3.1. Battery Electric Vehicle (BEV)
7.3.2. Plug-in Hybrid Electric Vehicle (PHEV)
Chapter 8. Global On-board Charger Market, Regional Analysis
8.1. On-board Charger Market, Regional Market Snapshot
8.2. North America On-board Charger Market
8.2.1. U.S. On-board Charger Market Power Output breakdown estimates & forecasts, 2018-2027 Vehicle Type breakdown estimates & forecasts, 2018-2027 Propulsion Type breakdown estimates & forecasts, 2018-2027
8.2.2. Canada On-board Charger Market
8.3. Europe On-board Charger Market Snapshot
8.3.1. U.K. On-board Charger Market
8.3.2. Germany On-board Charger Market
8.3.3. France On-board Charger Market
8.3.4. Spain On-board Charger Market
8.3.5. Italy On-board Charger Market
8.3.6. Rest of Europe On-board Charger Market
8.4. Asia-Pacific On-board Charger Market Snapshot
8.4.1. China On-board Charger Market
8.4.2. India On-board Charger Market
8.4.3. Japan On-board Charger Market
8.4.4. Australia On-board Charger Market
8.4.5. South Korea On-board Charger Market
8.4.6. Rest of Asia Pacific On-board Charger Market
8.5. Latin America On-board Charger Market Snapshot
8.5.1. Brazil On-board Charger Market
8.5.2. Mexico On-board Charger Market
8.6. Rest of The World On-board Charger Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Bel Fuse Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Delta Energy Systems
9.2.3. STMicroelectronics
9.2.4. Toyota Industries Corporation
9.2.5. Eaton
9.2.6. Stercom Power Solutions GmbH
9.2.7. Innolectric AG
9.2.8. Brusa Elektronik AG
9.2.9. Avid Technology Limited
9.2.10. Ficosa Internacional SA

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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