Market Overview

The electric vehicle on-board charger market is operating with a market size projection to reach up to USD 7 billion in the present forecast years. The growth rate is specified as a CAGR of 20% for the present year, which is expected to rise in the coming times.

The onboard charger or OBD is mostly used in hybrid electric vehicles and general electric vehicles. As of today, they are also highly preferred for plug-in hybrid vehicles for charging the traction battery. The purpose of an on-board charger system within an electric vehicle is to convert the AC input from your grid to that of DC input, which is further accountable for changing the battery. All of the electronic components that are used within the onboard charger or OBC are meant to recharge the car battery in connection to that of the AC mains. It can either be at home or from any outdoor outlet.

Apart from charging the vehicle’s battery, the OBC serves other purposes such as charge rate protection & monitoring. The AC Level 2 OBCs and Level 1 OBCs will need isolation. With the use of DC chargers and quick connectors, the OBCs will be bypassed. They make use of a rectifier and offer the power factor correction. The resulting DC signal will then be cut down to a square wave and will drive the transformer to create the required output DC voltage. There are specific units within electric vehicles' onboard chargers that include several signal conditions solutions, isolation converters, error amplifiers, and other such components.

The government initiatives upon electric vehicle development are increasing rapidly. And the demand scale for electric vehicles in the past couple of years has increased exponentially. All of this contributes to the overall increased utilization of electric vehicle onboard chargers. As a result, the projected market revenue will most likely be achieved and surpassed. The report is an overview of the market segmentation, regional analysis and industry news of the global electric vehicle on-board charger market.

Market Segmentation

Based on the current type segmentation, the global electric vehicle on-board charger market is segmented into the use of these chargers for two current types. It includes AC and DC current types!

Based on the propulsion type segmentation, the global electric vehicle on-board charger market is segmented into three different propulsion types that include BEV, HEV and PHEV type propulsion.

The onboard chargers can be used over Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Cars based on the vehicle type segmentation.

Regional Analysis

The global electric vehicle on-board charger market is generating high revenue with the contribution of key players from different regions of the world. The top-performing regions for this market are North America, Asia Pacific and Europe. Asia Pacific is dominating the market with high demands as of the present forecast period. As far as the reports are concerned, Asia Pacific will hold 55% of the market share by the present forecast period.

Industry News

Toyota Industries Corporation is not just making cars but is also manufacturing the onboard chargers for the seamless utilization of electric vehicles. They are constantly evolving their onboard charger to ensure faster charging to minimize the halt time of EVs.

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