On-Board Battery Charger Market Demand, Size, Share, Scope & Forecast to 2030
The global on-board battery charger was worth USD 4.05 billion in 2020 and is poised to register a CAGR of 17.2% over 2022-2030, thereby amassing a valuation of USD 19.80 billion by end of the stipulated timeline. In an electric vehicle (EV), hybrid electric vehicle (HEV), or plug-in hybrid car, the traction battery is charged using an on-board charger (OBC). The on-board charging system found in electric vehicles transforms the grid's AC input into a DC input, which then continues to charge the battery. The onboard charger's (OBC) electronic components give users the option of recharging their batteries from AC mains outlets at home or in public or private charging stations. The market for electric vehicle on-board chargers is being propelled by rising government initiatives to build the infrastructure for charging electric vehicles and its related parts, as well as rising electric vehicle penetration. The lack of EV charging standards and the rising number of fast DC charger installations, however, are limiting the market's expansion. Moreover, the creation of a two-way onboard charger (V2G). Global on-board battery charger market- Segmental Analysis By Current Type • •
AC DC
By Power Output • • •
Less than 11 kW 11 kW to 22 kW More than 22 kW
By Vehicle Type • •
Passenger Car Buses