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COVID-19 Pandemic Impact on the Global On-Board Charger Market has been Negligible

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BIS RSRCH
COVID-19 Pandemic Impact on the Global On-Board Charger Market has been Negligible

The evolution of vehicle engine propulsion technology, from coal-fired engines to gasoline- and electric-fired engines, has undoubtedly influenced the economy in crucial ways. Ultimately, this evolution has improved the automotive industry’s operational capabilities, including enhanced safety measures, connectivity, cost reduction, and consumer convenience. With the changing behavior of consumers as well as more stringent environmental regulations, the global automotive industry is undergoing extensive transformation. Due to the rapid depletion of natural resources (especially fossil fuels), there has been a growing need for alternate energy to reduce the reliance on fossil fuels for transportation. As a result, governments, environmental agencies, and automobile manufacturers have developed alternative fuel vehicles, and consumers have accepted the electric vehicle (EV) as an alternative option, which has evolved from a niche solution into a practical choice for mobility in the 21st century. EV manufacturers are focused on developing energy-efficient, cost-effective, and compact drivetrain components, such as inverters, on-board chargers, microcontrollers, and rectifiers. An on-board charger (OBC) is a key component in any electric vehicle powertrain that manages the energy flow from a power grid to the battery inside the vehicle.


Read Report Preview: https://bisresearch.com/industry-report/on-board-charger-market.html


To achieve high charging efficiency, a good heat dissipation effect, and a high power density, compact and lightweight OBCs are in high demand. EVs have recently been deployed rapidly, especially in China and European countries, partly because of the many regulations surrounding their increased acceptance by the government, especially at the manufacturing level. A significant challenge for faster EV adoption among consumers is the distance an EV can cover on a single charge. This is due to a lack of charging infrastructure in many countries, including India, Brazil, and some European countries. 


The demand for on-board chargers varies according to various regions. China is currently the largest region in the on-board charger market. Increased sales of electric vehicles in Asia-Pacific and Japan countries such as India, South Korea, and Japan are expected to boost the market. Rising CO2 emissions in India and Japan have led to several concerns from the countries’ governments. Government incentives for buying electric vehicles, technological advancements, and extensive investments in the development of charging infrastructure are some major drivers propelling the market’s growth in the region. 


As a result, various initiatives have been launched by the government to promote the development and adoption of electric vehicles, which are expected to reduce vehicular emissions and potentially replace petrol and diesel engines in the future. In addition, concerted efforts by both governments and manufacturers to promote the sale of electric vehicles have led to the inclusion of high-performance on-board chargers inside electric vehicles to provide better driving experiences. 


Obtain the Sample Report at: https://bit.ly/3xIMZlh


The demand for on-board chargers varies according to various regions. China is currently the largest region in the on-board charger market. Increased sales of electric vehicles in Asia-Pacific and Japan countries such as India, South Korea, and Japan are expected to boost the market. Rising CO2 emissions in India and Japan have led to several concerns from the countries’ governments. Government incentives for buying electric vehicles, technological advancements, and extensive investments in the development of charging infrastructure are some major drivers propelling the market’s growth in the region. 


As a result, various initiatives have been launched by the government to promote the development and adoption of electric vehicles, which are expected to reduce vehicular emissions and potentially replace petrol and diesel engines in the future. In addition, concerted efforts by both governments and manufacturers to promote the sale of electric vehicles have led to the inclusion of high-performance on-board chargers inside electric vehicles to provide better driving experiences. 

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