On board Charger for Electric Vehicle Sales

On-board Charger for Electric Vehicle Sales Market Outlook

The global on-board charger for electric vehicle (EV) sales market is projected to reach approximately USD 15 billion by 2035, with a compound annual growth rate (CAGR) of about 22% from 2025 to 2035. The electric vehicle market is rapidly expanding due to a combination of increasing environmental awareness, government policies favoring electric mobility, and advancements in battery technology. The growing concern over climate change and the push for sustainable transportation options have led to widespread adoption of electric vehicles, which in turn drives demand for efficient and reliable on-board charging solutions. Furthermore, the rising availability of charging infrastructure and the declining costs of EV components are also contributing factors to this market's growth. Additionally, the demand for fast charging solutions across various EV applications, particularly in urban areas and fleet operations, is expected to further propel market expansion.

Growth Factor of the Market

One of the primary growth factors for the on-board charger market is the increasing penetration of electric vehicles in the automotive industry. As manufacturers ramp up their production of electric and hybrid vehicles, the demand for advanced charging technology has surged. Additionally, government incentives and subsidies aimed at promoting the usage of electric vehicles encourage consumers to make the transition from conventional vehicles to electric alternatives. The growth of renewable energy sources, such as solar and wind, is also significant, as it provides a clean energy solution for charging electric vehicles, further enhancing their appeal. The shift toward sustainable energy solutions is driving innovations in the charging segment, leading to the development of smart charging stations that can optimize energy usage and reduce costs. Furthermore, consumer awareness regarding the benefits of electric vehicles and their charging systems continues to rise, contributing positively to market growth.

Key Highlights of the Market

• The market is anticipated to witness robust growth due to increasing EV adoption globally.
• Technological advancements in battery and charging systems are enhancing charging efficiency.
• Government initiatives and regulations are significantly influencing market dynamics.
• Growing investment in charging infrastructure is expected to facilitate market expansion.
• Consumer demand for fast and efficient charging solutions continues to drive innovation.

By Charger Type

AC Chargers:

AC chargers are widely adopted for their versatility and cost-effectiveness in electric vehicle charging. They cater to various power levels and are commonly found in residential, workplace, and public charging stations. The operational simplicity of AC charging systems allows for easy installation, making them a popular choice among EV owners. These chargers convert alternating current from the grid into direct current to charge the vehicle's battery. The development of smart AC chargers, which can communicate with the vehicle to optimize charging speeds and energy consumption, is expected to further enhance their attractiveness. With the growing number of electric vehicles on the roads, the demand for AC chargers is expected to increase significantly, making them an essential component of charging infrastructure globally.

DC Chargers:

DC chargers, or fast chargers, are specifically designed to rapidly charge electric vehicles in a short amount of time. They provide a significant advantage for electric vehicle owners who need to recharge quickly, particularly in commercial and public settings. DC charging stations deliver direct current electricity directly to the vehicle's battery, allowing for power levels that can exceed 350 kW, thereby reducing charging time dramatically. This technology has gained traction due to the growing demand for rapid charging solutions among long-distance drivers and fleet operators. As the number of electric vehicles increases and charging networks expand, the market for DC chargers is anticipated to experience substantial growth, driven by the need for convenience and efficiency in charging operations.

By Power Output

Less than 11 kW:

This segment features chargers that are suitable for home or workplace charging, where the charging duration is less critical. These chargers are primarily used for overnight charging, allowing EV owners to start each day with a full battery without the need for rapid charging. The relatively lower power output makes them more affordable and easier to install, making them a popular choice among private individuals and small businesses. As the demand for electric vehicles continues to grow, the segment for on-board chargers with power output of less than 11 kW is expected to expand significantly, capitalizing on the trend towards residential and workplace charging solutions.

11 kW - 22 kW:

Chargers within the range of 11 kW to 22 kW represent a balance between efficiency and practicality, offering quicker charging times than the lower power output category. They are typically utilized in commercial settings, such as shopping malls, parking lots, and workplaces, where users can enjoy a faster charge while they shop or work. These chargers provide a more robust solution for businesses looking to cater to electric vehicle owners, enhancing customer experiences while also contributing to sustainability practices. The increasing number of electric vehicles and the necessity for faster charging solutions are expected to drive significant growth in this power output segment.

Above 22 kW:

This category includes high-powered chargers that are primarily used in commercial applications where rapid charging is essential, such as in transportation hubs, fleet operations, and public charging stations. Chargers exceeding 22 kW are capable of delivering significant power levels, allowing vehicles to charge within minutes rather than hours. As electric vehicle adoption grows, the need for this type of charging infrastructure becomes increasingly critical. These high-power chargers are instrumental in enabling long-distance travel for electric vehicle owners, and the market for above 22 kW chargers is projected to grow significantly as more operators invest in fast charging networks.

By Vehicle Type

Battery Electric Vehicles (BEV):

Battery Electric Vehicles (BEVs) are fully electric vehicles that rely solely on electric energy for propulsion. As the market for BEVs continues to expand, the demand for efficient and effective on-board chargers grows as well. The increasing range of BEVs, alongside advancements in battery technology, means that consumers are looking for charging solutions that are both efficient and fast. On-board chargers in BEVs are typically designed to optimize battery charging times while ensuring the longevity and health of the battery. The growth of the BEV segment is directly correlated with the improvement of charging infrastructure, where robust on-board chargers will play a vital role in enhancing user experience.

Plug-in Hybrid Electric Vehicles (PHEV):

Plug-in Hybrid Electric Vehicles (PHEVs) combine an internal combustion engine with an electric propulsion system, allowing for greater flexibility in driving. PHEVs can operate on electric power for shorter trips, while still having the capability to use a gasoline engine for longer journeys. The on-board chargers for PHEVs are tailored to accommodate both charging modes, enhancing the vehicle's usability. As more consumers seek environmentally friendly driving options without compromising convenience, the market for PHEVs is expected to grow, driving demand for specialized on-board chargers designed for hybrid applications. The dual nature of PHEVs makes them a strategic market focus for charger manufacturers aiming to capture a diverse customer base.

By Sales Channel

OEMs:

The Original Equipment Manufacturers (OEMs) play a crucial role in the on-board charger market by integrating charging solutions directly into electric vehicles at the production stage. This segment benefits from close collaborations between automotive manufacturers and charger developers, ensuring that the chargers are optimized for specific vehicle models. As EV penetration continues to increase, OEMs are focusing on developing proprietary charging technology to differentiate their products in a competitive marketplace. Additionally, OEMs are likely to expand their offerings to include more advanced charging solutions, meeting the growing consumer demand for faster charging times and improved performance. The OEM sales channel is positioned for significant growth as the vehicle market shifts increasingly towards electrification.

Aftermarket:

The aftermarket segment encompasses sales of on-board chargers that are installed post-purchase, providing EV owners with the flexibility to upgrade or replace their existing charging solution. This segment is particularly valuable for owners of older electric or hybrid vehicles who seek improved charging efficiencies or additional features. The rise of e-commerce has made it easier for consumers to access a wide range of aftermarket charging products, further driving growth within this segment. Additionally, as EV technology evolves, more consumers are opting for aftermarket solutions to enhance their vehicle's charging capabilities. The aftermarket sales channel is expected to witness sustained growth as the electric vehicle ecosystem continues to mature, providing ample opportunities for charger manufacturers.

By Region

The North American region is a significant market for on-board chargers, driven by the rapid adoption of electric vehicles, supportive government policies, and a well-established charging infrastructure. The U.S. is leading the way with major automotive manufacturers investing heavily in electric mobility, contributing to a market size projected to reach around USD 6 billion by 2035. The growing presence of charging stations across urban areas, coupled with increasing consumer awareness of electric vehicle benefits, is expected to stimulate further growth in this segment with a CAGR of approximately 20% over the forecast period. Furthermore, the prevalence of incentives to promote EV usage reinforces the region's pivotal role in the on-board charger market.

In Europe, the on-board charger market is equally thriving, supported by the European Union's stringent environmental regulations and ambitious targets for reducing carbon emissions. With several countries leading initiatives to promote electric mobility, the market is expected to reach USD 5 billion by 2035. The rise of electric vehicle models offered by European manufacturers, along with significant investments in charging infrastructure, is driving this market segment forward. The shift toward renewable energy solutions and the growing consumer acceptance of electric vehicles enhances the region's growth prospects. As the market matures, innovative charging technologies are expected to emerge, further bolstering the adoption of electric vehicles in Europe.

Opportunities

The on-board charger market presents numerous opportunities driven by the increasing global emphasis on sustainability and the urgent need to reduce greenhouse gas emissions. As governments worldwide implement stricter regulations to promote electric mobility, manufacturers have the chance to innovate and create cutting-edge charging solutions that enhance the convenience and efficiency of electric vehicle ownership. With the expanding electric vehicle fleet, there is a growing demand for diverse charging solutions, including fast chargers, smart chargers, and integrated charging systems, enabling businesses to explore new market segments. Moreover, advancements in battery technology offer opportunities for the development of more efficient on-board charging systems, resulting in higher performance and shorter charging times, thus attracting more consumers to the electric vehicle market.

Another significant opportunity lies in the development of charging infrastructure, particularly in urban and suburban areas. As cities expand their electric vehicle charging networks, manufacturers have the potential to partner with municipalities and private enterprises to create comprehensive charging solutions that meet the evolving needs of electric vehicle owners. Moreover, the increasing interest in shared mobility services, such as car-sharing and ride-hailing platforms, creates opportunities for companies specializing in on-board chargers to cater to fleet operators who require rapid and efficient charging solutions. By capitalizing on these trends, businesses can position themselves strategically to take advantage of the growing electric vehicle market and the associated demand for innovative charging technologies.

Threats

The on-board charger market also faces several threats that could impact its growth trajectory. One of the primary concerns is the volatility in raw material prices, which can affect the production costs of electric vehicle components, including chargers. As demand for electric vehicles rises, the competition for essential materials such as lithium, cobalt, and nickel intensifies, leading to potential supply chain disruptions. Additionally, the rapid pace of technological advancements poses a challenge, as manufacturers must continuously innovate to stay competitive. Failure to keep up with new developments could result in outdated products, affecting market share. Furthermore, resistance from consumers accustomed to traditional internal combustion engine vehicles may hinder the acceptance of electric vehicles and their associated charging technologies.

Moreover, the on-board charger market is susceptible to regulatory changes, which can create uncertainty for manufacturers and investors. Variations in government incentives for electric vehicle adoption or changes in environmental policies may influence consumer behavior and purchasing decisions. Global economic fluctuations can also serve as a restricting factor, as consumers may be less inclined to invest in electric vehicles and their charging infrastructure during economic downturns. Addressing these threats requires strategic planning and adaptability from manufacturers to navigate the evolving landscape of the electric vehicle market.

Competitor Outlook

• Siemens AG
• ABB Ltd.
• Schneider Electric SE
• Delta Electronics, Inc.
• Leviton Manufacturing Co., Inc.
• Electrify America, LLC
• ClipperCreek, Inc.
• Wallbox Chargers, S.L.
• EVBox B.V.
• Tesla, Inc.
• Keba AG
• Bosch Limited
• Blink Charging Co.
• Greenlots, a Shell Company
• AMP Americas, LLC

The competitive landscape of the on-board charger market is characterized by a diverse range of players, from established industry leaders to emerging startups. Major companies, such as Siemens AG, ABB Ltd., and Schneider Electric SE, have leveraged their technological expertise and extensive experience to develop innovative charging solutions tailored to the evolving needs of electric vehicle manufacturers and consumers. These companies are not only focusing on manufacturing conventional chargers but are also investing heavily in research and development to create next-generation charging solutions. Their established market presence and extensive distribution networks provide them with a competitive advantage as they pursue growth in the expanding electric vehicle segment. Furthermore, as they embrace sustainable practices and strategies, they are positioned to lead the charge towards a cleaner transportation future.

Emerging companies such as Wallbox Chargers, S.L. and Blink Charging Co. are making significant strides in the on-board charger market by offering unique, user-friendly solutions that cater to specific consumer needs. These companies are capitalizing on the growing demand for smart charging technology, offering features such as mobile app connectivity, dynamic load management, and customizable charging options that enhance user experience. Their focus on innovation and customer service is allowing them to carve out a niche in a competitive market, appealing to environmentally-conscious consumers who desire convenience and efficiency. As these companies continue to expand their product offerings and enhance their brand recognition, they are well-positioned to compete with established players.

Additionally, firms like Electrify America, LLC and Greenlots are focusing on the development of high-powered charging networks to support long-distance travel for electric vehicle owners. Their commitment to building extensive charging infrastructure is essential for meeting the growing demand for rapid charging solutions. By collaborating with automotive manufacturers and technology firms, these companies are not only increasing the availability of their charging stations but are also contributing to the overall growth of the electric vehicle ecosystem. As the on-board charger market evolves, these players are poised to play a critical role in shaping the future of electric mobility through innovative solutions and strategic partnerships.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Keba AG
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 ABB Ltd.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 EVBox B.V.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Siemens AG
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Tesla, Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Bosch Limited
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 AMP Americas, LLC
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Blink Charging Co.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 ClipperCreek, Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Schneider Electric SE
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Electrify America, LLC
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Wallbox Chargers, S.L.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Delta Electronics, Inc.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Greenlots, a Shell Company
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Leviton Manufacturing Co., Inc.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 On board Charger for Electric Vehicle Sales Market, By Charger Type
    • 6.1.1 AC Chargers
    • 6.1.2 DC Chargers
  • 6.2 On board Charger for Electric Vehicle Sales Market, By Power Output
    • 6.2.1 Less than 11 kW
    • 6.2.2 11 kW - 22 kW
    • 6.2.3 Above 22 kW
  • 6.3 On board Charger for Electric Vehicle Sales Market, By Vehicle Type
    • 6.3.1 Battery Electric Vehicles (BEV)
    • 6.3.2 Plug-in Hybrid Electric Vehicles (PHEV)

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 On board Charger for Electric Vehicle Sales Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global On board Charger for Electric Vehicle Sales market is categorized based on

By Charger Type

• AC Chargers
• DC Chargers

By Power Output

• Less than 11 kW
• 11 kW - 22 kW
• Above 22 kW

By Vehicle Type

• Battery Electric Vehicles (BEV)
• Plug-in Hybrid Electric Vehicles (PHEV)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Siemens AG
• ABB Ltd.
• Schneider Electric SE
• Delta Electronics, Inc.
• Leviton Manufacturing Co., Inc.
• Electrify America, LLC
• ClipperCreek, Inc.
• Wallbox Chargers, S.L.
• EVBox B.V.
• Tesla, Inc.
• Keba AG
• Bosch Limited
• Blink Charging Co.
• Greenlots, a Shell Company
• AMP Americas, LLC