Global On Board Charger (OBC) Market Size to Reach USD 11,330.78 Million in 2032 | Emergen Research
Advertisement
Increasing government initiatives for deployment of Electric Vehicles (EVs) charging infrastructure is a key factor driving On Board Charger (OBC) market revenue growth
Vancouver, Sept. 21, 2023 (GLOBE NEWSWIRE) — Current Market Scenario:
The global On Board Charger (OBC) market size reached USD 1,671.1 Million in 2020 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Rising demand for On Board Charger for BEVs is one of the major factors expected to drive market revenue growth.
Advertisement
Drivers:
Electric Vehicles (EVs) require adequate planning and dedicated electrical infrastructure at various levels of grid. All countries have recognized the need for EVs to reduce pollution. Besides, development of EV chargers and infrastructure are becoming \primary focus of many private companies. In addition, many advanced charging stations are constructed using technologies, such as Radio Frequency Identification (RFID) and Near Field Communication (NFC), which transform standard charging stations into interactive, kiosk-based, and self-operating charging stations, as a result of collaboration between private companies and governments. Some businesses are installing charging stations in parking lots, which saves time, increases energy efficiency, and reduces costs. These are expected to drive market revenue growth.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1097
Restraints:
However, concerns regarding increasing installation cost of fast Direct Current (DC) chargers are major factors expected to hamper revenue growth. Though DC chargers take less time, problems arise in battery lifespan as fast charging heats up battery, leading to a decrease in battery’s performance over time.
Growth Projections:
The global OBC market is expected to register a CAGR of 27.8% over the forecast period and revenue is projected to increase from USD 2.33 Billion in 2020 to USD 15.54 Billion in 2028. Rising demand for deployment of AC On Board Charger due to low cost and flexibility in charging is a key factor propelling revenue growth of the market.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1097
Scope of Research
| Report Details | Outcome |
| Market Size in 2020 | USD 1,671.1 Million |
| CAGR (2021–2028) | 27.8% |
| Revenue Forecast to 2032 | USD 11,330.78 Billion |
| Base Year for Estimation | 2020 |
| Historical Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2021 to 2028 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Power output, vehicle type, propulsion type, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Toyota Industries Corporation, Eaton Corporation, STMicroelectronics Inc., Bel Fuse Inc., Delta-Q Technologies Corp., AVID Technology Limited, BRUSA Elektronik AG, Current Ways Inc., Innolectric AG, and Stercom Power Solutions GmbH. |
| Customization Scope | 10 hours of free customization and expert consultation |
COVID-19 Impact Analysis:
COVID-19 has a significant impact on various industries including automotive. Pandemic has disrupted supply chain and brought the world’s EV charging infrastructure development to a halt. However, rising demand for various charger equipment and better battery lifecycle among businesses is leading to increasing adoption of On Board Charger. This is also expected to drive OBC market revenue growth in the future.
Current Trends and Innovations:
BEVs are propelled mostly by batteries and have no additional method of propulsion. Due to lower operating costs and better efficiency, most BEVs are equipped with On Board Charger, thus with increasing adoption of BEVs, usage of On Board Charger (OBC) is expected to increase. In addition, on board chargers are easy to carry and provide a convenient method of charging. As a result, it decreases time spent on finding charging stations and enables users to charge their vehicles at any nearby available AC power outlet, which increases their productivity and efficiency.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/1097
Geographical Outlook:
The North America market is expected to register a significantly robust revenue growth rate over the forecast period due to high presence of major market players, such as Bel Fuse Inc., Delta-Q Technologies Corp., and Current Ways Inc., are among others in countries in the region.
Strategic Initiatives:
Major companies included in the global market report include Toyota Industries Corporation, Eaton Corporation, STMicroelectronics Inc., Bel Fuse Inc., Delta-Q Technologies Corp., AVID Technology Limited, BRUSA Elektronik AG, Current Ways Inc., Innolectric AG, and Stercom Power Solutions GmbH.
- In June 2021, Delta-Q Technologies Corp. launched XV3300, a new line of battery charging solutions. The design of XV3300 is combined with a high performance 3.3 kW charger, a 500 W DC-DC converter, and an EV charging station interface. Delta-Q is a leading provider of battery charging solutions that improves performance and reliability of EVs and equipment. XV3300 battery charger is compact, rugged, and IP67-rated. This charger will provide flexible power options for users, ensure safety by providing protection against short-circuit, over voltage, and over temperature.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/on-board-charger-market
Emergen Research has segmented the global on board charger market based on power output, vehicle type, propulsion type, and region:
- Power Output Outlook (Revenue, USD Billion; 2018–2028)
- Vehicle Type Outlook (Revenue, USD Billion; 2018–2028)
- Passenger Car
- Buses
- Vans
- Medium and Heavy Duty Vehicles
- Others
- Propulsion Type Outlook (Revenue, USD Billion; 2018–2028)
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
Curated Reports You Shouldn’t Miss: Dive In Now!
Micro Displays Market Size, Share, Trends, By Product (Near-to-Eye (NTE) Devices, Head-up Display (HUD), Projectors), By Technology (LCD, OLED, LCoS, DLP), By Resolution, By Brightness, By Industry (Automotive, Consumer), and By Region Forecast to 2028
Organic Electronics Market, By Material (Semiconductor Materials, Conductive Materials, and Others), By Application (Organic Display, Organic Photovoltaic, and Others), By End-Use, and By Region Forecast to 2032
Wi-Fi 6 Devices Market By Component (Controller/Switch, Gateways/Routers, Access Points), By Usage Type (Public, Private), By Application (Education, Healthcare, Retail, Automotive & Transportation, Government, Sports & Leisure, Hospitality), and By Region Forecast to 2028
Gaming Mouse Market By Product Type (MMO Mouse, MOBA Mouse, FPS Mouse, RTS Mouse, All-Purpose Mouse), By Distribution Channel (Online, Retail Stores), By End-Use (Personal, Internet Cafe), and By Region Forecast to 2028
Smart Dust Market, By Components(Sensors, Active Optical Transmission, Passive Optical Transmission, Optical Receiver, Analog I/O, Signal Processing, Control Circuitry, Power Source, Robots), By Application(Remote Monitoring, Industrial Automation, Urban Infrastructure, Inventory Management, Medical Diagnostics, Travel Safety, Space Exploration), By End-use, and By Region Forecast to 2028
Printed Circuit Board (PCB) Design Software Market By Type (Schematic Capture, PCB Layout), By Deployment (On-Premise, On-Cloud), By End-Use (Education & Research, Industrial Automation & Control, Healthcare, Aerospace & Defense, and Others), and by Region Forecast to 2028
E Skin Market Size, Share, Trends, By Product (Electronic skinsuit and Electronic patches), By Component (Stretchable circuits, Photovoltaics system, and Others), By Sensor Type, By Application, and By Region Forecast to 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: [email protected]
Explore Our Japanese Version: On board Charger Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-on-board-charger-market
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.