Electric Vehicle On-Board Charger Market: Revealing Key Trends and Future Outlook - TechSci ResearchPosted by Kumar on August 30th, 2023 Introduction The TechSci Research report, titled "Electric Vehicle On-Board Charger Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028," offers a comprehensive analysis of the global electric vehicle on-board charger market. The report highlights key drivers, challenges, and opportunities influencing this market segment. Government Initiatives and EV Penetration The rising adoption of electric vehicles (EVs) is significantly propelled by government initiatives to establish robust charging infrastructure. As EVs gain traction, the demand for on-board chargers grows in tandem. Governments globally are investing in charging stations and related infrastructure to support the surge in electric vehicle usage. Challenges and Limitations While government support and EV growth drive the market, challenges such as the lack of standardized electric vehicle charging protocols pose limitations. The proliferation of fast DC charger installations, while beneficial, presents the need for uniform charging standards. This divergence hampers seamless expansion and universal compatibility in the market. Browse more than XX market data Figures spread through XX Pages and an in-depth TOC on "Global Electric Vehicle On-Board Charger Market" - https://www.techsciresearch.com/report/electric-vehicle-on-board-charger-market/14706.html Two-Way On-Board Charger Potential A notable development with substantial potential lies in the creation of a two-way on-board charger (V2G) for forthcoming electric and plug-in hybrid vehicles. This innovation opens avenues for bi-directional energy flow, offering promising opportunities for companies operating in the electric vehicle on-board charger market. On-Board Charger's Role An on-board charger for EVs facilitates the conversion of AC power from charging stations into DC electricity, enabling efficient charging of the vehicle's 350V or 650V battery. This charger focuses on extended charging periods with a low charging rate, typically requiring 5–8 hours for a full charge. Market Segments The electric vehicle on-board charger market is segmented based on charging power, propulsion type, vehicle type, design type, product type, region, and competitive landscape. These divisions provide a comprehensive understanding of the diverse market dynamics. The Shift to Sustainable Energy Sources Given the finite nature of fossil fuels like gasoline, the imperative of alternative energy sources is undeniable for fostering sustainable development. Electric vehicles, which eliminate the need for gasoline and offer cost-effectiveness, become pivotal in promoting environmentally friendly transportation. Global Demand for Electric Vehicles The advantages of EVs, including reduced fuel consumption and exhaust emissions, have fueled global demand for these vehicles. As the demand for electric and plug-in hybrid vehicles surges, the need for on-board chargers to facilitate efficient charging is projected to increase during the forecast period. Strategic Industry Actions Key players in the on-board charger industry are strategically enhancing their offerings. For instance, Swiss auto component manufacturer BRUSA Elektronik has elevated the performance of its on-board fast charger (NLG664), catering to single-phase and 3-phase AC power charging needs. Additionally, several governments worldwide have initiated programs to bolster EV charging infrastructure. Global EV Sales and Barriers to Growth The report highlights the surge in electric vehicle sales globally. For instance, China sold 26.3 million cars in 2021, while India recorded electric vehicle sales of 3,29,190 units in the same year. The United States saw a doubling of electric vehicle sales in 2021, reaching 608,000 units. Despite the promising growth, barriers such as charging station scarcity in many cities, inadequate infrastructure, and range anxiety need to be addressed to unlock the full potential of the market. Some of the major players operating in the Global Electric Vehicle On-Board Charger market include:
“Electric Vehicle On-Board Charger Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Propulsion Type (Battery Electric Vehicles (BEVs), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Charging Power (<=6.6kW, 6.7-11.0kW, 11.1-22.0kW, >22.0kW), By Distribution Channel (OEMs, Aftermarket), By Design Type (Unidirectional, Bidirectional), By Product Type (Without Embedded DC/DC Converter, With Embedded DC/DC Converter), and By Region,” has evaluated the future growth potential of Global Electric Vehicle On-Board Charger Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Electric Vehicle On-Board Charger Market. Discover key insights about the global electric vehicle on-board charger market through our sample report:
Download Free Sample Report - https://www.techsciresearch.com/sample-report.aspx?cid=14706 This report will be of great value to:
Download Free Sample Report - https://www.techsciresearch.com/sample-report.aspx?cid=14706
Related Reports- Electric Vehicle On-Board Charger Market Netherlands Two Wheeler Market
About TechSci Research: TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients. Contact Mr. Ken Mathews 708 Third Avenue, Manhattan, NY, New York – 10017 Tel: +1-646-360-1656 Like it? Share it!More by this author |