Electric Vehicle On-Board Charger Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2022
“The factors that are playing a major role in the growth of electric vehicle on-board charger market are growing population using an electric vehicle, rising concern regarding environmental pollution, and growing government initiative by offering several subsidies on electric vehicles.�
Global electric vehicle on-board charger market is expected to grow at a significant CAGR of 29% in the upcoming period as the scope and its applications are rising enormously across the globe. Electric vehicle onboard charger is a device that converts AC power from charging station to DC power to charge a 350V or 650V battery in the vehicle. The most common on-board chargers are 3.3 kW on plug-in hybrid electric vehicles (PHEVs) and .6 kW on battery electric vehicles (BEVs). The factors that are playing a major role in the growth of electric vehicle on-board charger market are growing population using an electric vehicle, rising concern regarding environmental pollution, and growing government initiative by offering several subsidies on electric vehicles. However, the lack of public charging stations and lack of standardization may restrain the overall market growth in the years to come. The market is segmented based on component, application, end-user, and region. Based on components, outer casing, battery, thermal management, power electronics, and others classify electric vehicle on-board charger market. The market is categorized based on applications like battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and FCEV. Battery electric vehicle (BEV) sector accounted for the substantial share of the market and is estimated to lead the overall market in the years to come. Get Sample Copy of this Report @ https://www.millioninsights.com/industry-reports/electric-vehicle-on-board-charger-market/requestsample