WASHINGTON, May 04, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global On- Board Battery Charger Market finds that increasing demand for electric vehicles as well as increasing government initiatives regarding adoption of EVs, are factors that influencing the growth of On- Board Battery Charger Market.
The total Global On- Board Battery Charger Market is estimated to reach USD 10,430.9 Million by the year 2028. The Global Market revenue value was USD 4,129.5 Million in the year 2021, and is expected to exhibit a Compound Annual Growth Rate (CAGR) of 16.7%, states Vantage Market Research, in a report, titled “On- Board Battery Charger Market Size, Share & Trends Analysis Report by Power (Less than 11 kW, 11 kW to 22 kW, More than 22 kW), by Vehicle Type (Passenger Car, Buses, Vans, Medium & Heavy Duty Vehicles), by Propulsion Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV)), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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- The report analyzes the On- Board Battery Charger market competitive landscape and offers information on several market vendors.
- An Exclusive study come up with Vantage Market Research experienced researchers projected value of USD 10,430.9 Million at a CAGR of 16.7%.
- It offers additional highlights and key points on various market segments and their impact in the coming years.
- The sample report includes Latest Drivers and Trends in the Market.
- Comprehensive information on factors that will assist On- Board Battery Charger market growth during the next five years.
- The report offers predictions on upcoming trends and changes in consumer behavior.
- Comprehensive study involving market types, application and end-users.
- To understand more about Market Dynamics, get access to our free sample report.
Market Dynamics:
Drivers:
Increasing Demand for EVs
The demand for electric vehicles is increasing drastically across the globe. The adoption rate of electric vehicles is increasing with the introduction of DC fast charging, wireless charging, ultrafast electric vehicle supply equipment (EVSE) that has capacity to charge vehicle batteries to 100% within 15-30 minutes. The different technologies and applications help the drivers to easily search for charging stations by using smartphones and navigation system in cars which may also boost the sale of electric vehicles. For instance, the EV sales is increased by 63 % in 2017, compared to 2016. According to a report by Avendus Capital, The electric vehicle (EV) market is estimated to be Rs 50,000 crore (US$ 7.09 billion) opportunity in India by 2025, with two- and three-wheelers expected to drive higher electrification of the vehicles in the medium term in the wake of COVID-19. Thus, the demand for EVs is increasing, in turn, further propelling the market growth over the forecast period.
The On- Board Battery Charger Market Covers the Following Key Insights & Findings:
- Exclusive Summary: Basic statistics on the global On- Board Battery Charger market.
- The changing effect on market dynamics: global part provides driving factors, trends, challenges and opportunities; post-COVID analysis.
- View 2022-2028 by type, end user and region/nation.
- Evaluate industry by market segments, countries/regions, manufacturers/companies, revenue share and sales of these companies in these various regions of major countries/regions (2022-2028).
- Understand the structure of the On- Board Battery Charger market by identifying its various sub-segments.
- Researchers shed light on market dynamics, such as drivers, restraints, trends, and opportunities.
- It offers massive data about the trending factors that will influence the progress of the market.
- In-depth understanding of On- Board Battery Charger Market drivers, restraints, and major micro markets.
- Regional analysis: Asia Pacific Region to Stand Firm on its Leading Position in the industry.
- Free Report Customization: This report can be customized according to specific client needs.
- Key Strategic Developments: The study also includes the key strategic developments of the market, new product launch, comprising R&D, mergers and acquisitions, collaborations, joint ventures, agreements, partnerships, and regional growth of key competitors operating in the market globally and regionally.
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Segmentation of the Global On- Board Battery Charger Market:
- Power
- Less than 11 kW
- 11 kW to 22 kW
- More than 22 kW
- Vehicle Type
- Passenger Car
- Buses
- Vans
- Medium & Heavy Duty Vehicles
- Boats
- Others
- Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Increasing Government Support
The government follows various initiatives to support the electric vehicle charging station market. The government supports by providing tax credits and various subsidies to promote the sale of electric vehicles. Further, the government also provides road tax exemption to increase the sale of the electric vehicles. Another driving factor for the growth of market is government incentives and subsidies for electric vehicle charger infrastructure development. For instance, in October 2017, the Indian government has promoted investment imitative from the number of companies, both domestic and foreign.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report On- Board Battery Charger Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Holds Maximum Market Share
Asia Pacific is expected to dominate the growth of On- Board Battery Charger Market in 2021. The major driving factors for the market are government efforts for promoting electric vehicle sales in countries such as China and India, availability of large base of population in the region which is providing an opportunity for market. Additionally, increasing government initiatives regarding green energy and several programs initiation of motivating people regarding adoption of EVs is further propelling to market growth. Moreover, presence of major players of automobiles in the region, and the several initiations taken by them such as increased funding, mergers, acquisitions is further propelling the market growth.
List of Prominent Players in the On- Board Battery Charger Market:
- Bel Fuse Inc.
- Delta Energy Systems
- STMicroelectronics
- Toyota Industries Corporation
- Eaton
- Stercom Power Solutions GmbH
- Innolectric AG
- BRUSA Elektronik AG
- AVID Technology Limited
- Ficosa Internacional SA
Browse market data Tables and Figures spread through 169 Pages and in-depth TOC on "On- Board Battery Charger Market Size, Share & Trends Analysis Report by Power (Less than 11 kW, 11 kW to 22 kW, More than 22 kW), by Vehicle Type (Passenger Car, Buses, Vans, Medium & Heavy Duty Vehicles), by Propulsion Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV)), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/on--board-battery-charger-market-670524
Recent Developments:
January 2021: Bel Power Solutions introduced the BCL25-700-8, a bi-directional onboard battery charger in which up to 4 charging units can be connected in parallel, with efficiency near 94%. Bel Power says it’s possible to connect this charger to a charging station or directly to the grid to charge EV batteries.
January 2019: Brusa Elektronik announced the upgrade to their first-generation wireless charging, which will enable electric vehicle drivers to charge the traction batteries of vehicles with powers ranging from 3.7 to 11 kW.
Key Questions Answered in On- Board Battery Charger Market Report:
- Which manufacturing technology is used for On- Board Battery Charger Market?
- What developments are happening in that technology?
- What trends are causing these developments?
- Who are the global key players in this market?
- What are your company profile, your product information and contact information?
- What was Global Market Status of On- Board Battery Charger industry?
- What was capacity, Production Value, Cost and PROFIT of Market?
- What is current Market Status On- Board Battery Charger Industry?
- What is the market competition in this industry, both company and country wise?
- What's Market Analysis of Market by Taking Applications and Types in Consideration?
- What should be Entry Strategies, Economic Impact Countermeasures, and Marketing Channels for On- Board Battery Charger industry?
This market titled “On- Board Battery Charger Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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- Top Companies in On- Board Battery Charger Market:- https://v-mr.biz/on-board-battery-charger-market
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