(MENAFN- Ameliorate Digital Consultancy) Market Overview:
The Global Electric Vehicle Onboard Charger (OBC) Market Is Anticipated To Develop At A Significant Growth Rate Over The Analysis Period 2023-2030.
In electric vehicles (evs) or hybrid electric vehicles (HEVs), the onboard charger (OBC) plays a crucial role in charging the traction battery. When an EV is connected to Level 2 electric vehicle supply equipment (EVSE) using the appropriate charging cable, the OBC manages the charging process. Its primary function is to charge the high-voltage DC battery packs from the power grid infrastructure. This allows for convenient charging of EVs using standard power outlets at home without requiring additional power conversion equipment. The market for onboard chargers is experiencing growth due to the increasing number of AC private and public charging stations globally. AC level 1 onboard chargers, which can be connected to standard electrical plugs, are used in various electric vehicles.
Top Key Players for Electric Vehicle Onboard Charger (OBC) Market:
Ficosa Corporation (Spain) LG Electronics (South Korea) Hyundai Mobis Co. Ltd (South Korea) BorgWarner Inc. (US) Bel Power Solutions (US) BRUSA Elektronik AG (Switzerland) Delphi Technologies (UK) Toyota Industries Corporation (Japan) Xepics Italia SRL (Italy) Infineon Technologies AG (Germany) Stercom Power Solutions GmbH (Germany) Eaton Corporation (Ireland/US), and Other Major Players
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Market Dynamics and Factors:
The increasing adoption of electric vehicles worldwide is driving the demand for on-board chargers. As more consumers choose electric vehicles for their environmental benefits and lower operating costs, the need for efficient and reliable charging solutions, including OBCs, grows. Governments worldwide are implementing stringent emission regulations to reduce greenhouse gas emissions and combat climate change. These regulations encourage automakers to produce and sell electric vehicles, which, in turn, drive the demand for OBCs as a vital component of the charging infrastructure. Continuous advancements in battery technology, including higher energy densities, faster charging capabilities, and extended driving ranges, are expanding the appeal and feasibility of electric vehicles.
Governments play a crucial role in shaping the EV market through policy incentives and regulations. Supportive policies, such as financial incentives, tax rebates, subsidies, and grants, can significantly boost EV adoption. Developing regions that implement such policies can attract investments in EV manufacturing, charging infrastructure development, and related industries, creating opportunities for businesses. Developing regions are experiencing a rise in EV adoption due to factors like increasing environmental awareness, improving charging infrastructure, and the availability of affordable EV models.
The Report Will Include A Major Chapter
Patent Analysis Regulatory Framework Technology Roadmap BCG Matrix Heat Map Analysis Price Trend Analysis Investment Analysis
Key Industry Development:
In May 2023 , Bel Power Solutions had introduced the BCL25-700-8, an onboard battery charger for hybrid and electric vehicles. This liquid-cooled charger had a power output of 22 kW and converted 3-phase AC voltage to DC voltage. The product played a significant role in boosting the company's growth in the market.
In Feb 2023 , Eaton, the intelligent power management company, had entered into an agreement with IES, a globally recognized climate tech and building performance analytics firm. The purpose of the agreement was to collaborate on developing approaches that would assist building owners in enhancing the sustainability of their buildings and making them ready for the ongoing energy transition.
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Electric Vehicle Onboard Charger (OBC) Market Report Highlight:
By Vehicle Type, Passenger Cars hold a larger market share, due to the higher volume of passenger vehicles compared to other vehicle types, such as commercial vehicles or buses. By Propulsion, the Battery Electric Vehicle Segment is expected to register the highest growth during the projected period. BEVs, rely solely on electric power from batteries, have gained significant popularity and market acceptance. By Power Rated, the 3.3 – 11KW segments are set to achieve the highest Growth Rate during the forecasted period, Its popularity can be attributed to its ability to provide faster charging compared to lower-power chargers while remaining suitable for daily charging needs. The Asia Pacific region is expected to have the highest share of the Electric Vehicle Onboard Charger (OBC) market over the projected period. This dominance can be attributed to the high electric vehicle adoption rate and supportive government policies promoting sustainable transportation.
Central to our report are the company profiles and competitive analysis, providing insights into market players' overview, market role, and operating business segments. We evaluate their financial performance, production volume, sales volume, and sales margin, while highlighting recent market developments. Our market research offers invaluable intelligence and strategic insights to drive informed decision-making. By capitalizing on emerging opportunities and understanding the competitive landscape, our report empowers businesses to thrive in the Global Electric Vehicle Onboard Charger (OBC) Market.
Electric Vehicle Onboard Charger (OBC) Market Segmentation:
By Vehicle Type
Passenger cars Commercial vehicles
By Propulsion
Battery Electric Vehicles Plug-in Hybrid Electric Vehicles Hybrid Electric Vehicles
By Rated Power
Less than 3.3 kW 3-11 kW more than 11 kW
For this report, Introspective Market Research has segmented the Electric Vehicle Onboard Charger (OBC) Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
Eastern Europe
Bulgaria The Czech Republic Hungary Poland Romania Rest of Eastern Europe
Western Europe
Germany UK France Netherlands Italy Russia Spain Rest of Western Europe
Asia Pacific
China India Japan South Korea Malaysia Thailand Vietnam The Philippines Australia New Zealand Rest of APAC
Middle East & Africa
Turkey Bahrain Kuwait Saudi Arabia Qatar UAE Israel South Africa
South America
Brazil Argentina Rest of SA
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Scope of the Report:
The latest research on the Electric Vehicle Onboard Charger (OBC) market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Electric Vehicle Onboard Charger (OBC) industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Electric Vehicle Onboard Charger (OBC) market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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