According to the report from TechSci Research, "Electric Vehicle On-Board Charger Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028," the market for on-board chargers for electric vehicles is being boosted by government efforts to build infrastructure for charging electric vehicles and related components, as well as increasing adoption of electric vehicles. However, the growth of the market is being hindered by the lack of standards for electric vehicle charging and a growing number of fast DC charger installations. On the other hand, the future potential for a two-way on-board charger (V2G) for electric and plug-in hybrid vehicles presents significant opportunities for companies in the electric vehicle on-board charger market.
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An on-board charger for electric vehicles converts AC power from a charging station into DC power to charge the car's 350V or 650V battery. The on-board charger is designed for long-term charging and has a low charging rate, typically taking 5-8 hours for a full charge. The market segments for electric vehicle on-board chargers include charging power, propulsion type, vehicle type, design type, product type, region, and the competitive landscape.
Due to gasoline being a non-renewable fossil fuel that will eventually deplete, it is imperative to adopt alternative fuel sources to sustain growth. The use of electric vehicles is a more affordable option compared to traditional cars and does not rely on gasoline. The numerous advantages that electric vehicles offer, including lower fuel consumption and reduced emissions, have contributed to their growing demand worldwide. This increase in demand for electric or plug-in hybrid vehicles is expected to drive the demand for on-board chargers in the forecast period. Key players in the on-board charger industry, essential for electric vehicles, are taking steps to maximize their business prospects.
For example, Swiss auto component manufacturer BRUSA Elektronik has enhanced the performance of its onboard fast charger (NLG664). This charger has the ability to charge at a maximum of 7 kW from a single-phase AC outlet, and can fully charge a normal electric vehicle battery using 3-phase AC power in less than an hour, up to 22 kW. The Smart Fortwo, Electric Truck E-FORCE, Volvo C30 Electric Generation II, and SUNCAR's first electric excavator all feature this on-board charger. The infrastructure for charging electric vehicles is crucial for their widespread adoption.
In order to supply EV charging stations all around the world, several government programs have been launched. One such project was the deployment of more than 200 EV charging stations across India by the Automotive Research Association of India (ARAI). In addition, Tata Power, an Indian electric utility firm and member of the Tata Group (India), supports the National Electric Mobility Mission of the Indian government by constructing the nation's first set of electric vehicles charging stations in Mumbai.
Additionally, China is stepping up its efforts to preserve its leadership in the race to adopt electric vehicles by intending to invest USD1.42 billion this year to expand the nation's charging network by 50% in order to encourage EV deployment. Additionally, the surge in demand for electric vehicles has been fueled by an increase in the number of level 1 and level 2 charging stations and infrastructure (AC-to-DC). This is then anticipated to fuel the development of the on-board charger that is included with them.
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The China Association of Automobile Manufacturers reports that 26.3 million cars were sold in China in 2021. In India, the number of electric vehicle sales in 2021 was 3,29,190 units. The United States saw electric vehicle sales of 608,000 units in 2021, a 100% increase from the previous year when 308,000 units were sold. These sales figures include both all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) as part of the new light-duty plug-in electric vehicle market.
The lack of charging stations in most cities presents a major hindrance to the growth of the global on-board electric car charger market. The absence of alternative charging options for electric vehicle batteries also presents an issue. The quality of charging infrastructure and concerns about range can pose a risk to driver safety.
Additionally, the lack of necessary infrastructure in developing countries, combined with the challenge of charging electric vehicles in rural areas where many households lack designated parking spaces, presents further obstacles. Furthermore, low sales of electric automobiles and commercial vehicles outside of China due to technological immaturity in these markets also limits growth. Although Tesla, the American electric vehicle and renewable energy company based in Palo Alto, California, is expanding its network of chargers, they are only usable for Tesla vehicles. While the automobile industry has standardized the 120- and 240-volt plugs used in homes, the plugs for charging vehicles in under 30 minutes have not yet been standardized, further hindering growth.
All of these challenges and varying charging rates at stations contribute to the slowed expansion of the market.
Some of the major players operating in the Global Electric Vehicle On-Board Charger market include:
- Meta System S.p.A
- Robert Bosch GmbH
- BorgWarner Inc
- HELLA GmbH & Co. KGaA
- Lear Corp.
- Ficosa Internacional SA
- BRUSA Elektronik AG
- YAZAKI Corporation
- KOSTAL Automobil Elektrik GmbH & Co. KG
- Analog Devices, Inc.
Segmentations:
Electric Vehicle On-Board Charger Market, By Propulsion Type:
· Battery Electric Vehicles (BEVs)
· Plug-In Hybrid Electric Vehicle (PHEVs)
Electric Vehicle On-Board Charger Market, By Vehicle Type:
· Passenger Vehicles
· Commercial Vehicles
Electric Vehicle On-Board Charger Market, By Charging Power:
· <=6.6kW
· 6.7-11.0kW
· 11.1-22.0kW
· >22.0kW
Electric Vehicle On-Board Charger Market, By Distribution Channel:
· OEMs
· Aftermarket
Electric Vehicle On-Board Charger Market, By Design Type:
· Unidirectional
· Bidirectional
Electric Vehicle On-Board Charger Market, By Product Type:
· Without Embedded DC/DC Converter
· With Embedded DC/DC Converter
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Scope of the ReportThis report provides an in-depth analysis of the global Electric Vehicle On-board Charger market, tracking three market segments across four geographic regions.
The report studies key players, providing a six-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the rest of the world.
The report also presents a forecast, focusing on the market opportunities for the next six years for each region.
The electronic components used in on-board charger (OBC) provides the means to recharge the battery from the AC mains either at home or from outlets found in private or public charging stations.The on-board charger in electric vehicles consists of the unit that includes variety of signal conditioning solutions, integrated high voltage isolation AC-DC converters, AC rectifiers, dual bridgeless power factor correction (PFC), gate drivers, error amplifiers, and many other power electronic components.A charging station is part of the grid infrastructure installed along a street, parking lot or in a home garage; its primary purpose is to supply the power to the different types of electric vehicles (PHEV, BEV and HEV's) for charging the battery.
An onboard charger is responsible for the final stage of charging the battery pack.
China and Japan are the key markets for hybrid and electric vehicle on-board charger in APAC.
