Asia Pacific On-board Charger Market Size, Share & Industry Trends Analysis Report By Propulsion Type, By Vehicle Type, By Power Output, By Country, Historical Data and Growth Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific On-Board Charger Market would witness market growth of 16.4% CAGR during the forecast period (2021-2027).
Onboard battery charger technology is widely used by companies like AVID Technology Limited, which is very efficient due to its state-of-the-art power switching technology and highly tuned magnetics. It is also operated via an isolated CAN bus connection that is SAE J1939 and ISO11898 compliant. In electric vehicles, the on-board charger is made up of a unit with a range of signal conditioning methods, integrated high voltage isolation AC-DC converters, AC rectifiers, dual bridgeless power factor correction (PFC), gate drivers, error amplifiers, and other power electronic components.
The current demand for on-board chargers is being driven by the high cost of charging an electric vehicle at public charging stations. Commercial electric rates apply to public chargers near roads, malls, and businesses, which are more than residential rates. This necessitates the use of on-board chargers in electric vehicles. One of the primary factors driving market expansion is the increase in the number of AC private and public charging stations around the world.
The Chinese government, for example, has invested over USD 60 billion to help the electric vehicle industry, including R&D investment, tax breaks, and financing for battery-charging stations. Furthermore, Tata Power, an Indian electric utility company and a subsidiary of the Tata Group (India), supports the Indian government's National Electric Mobility Mission, having established the first set of electric vehicles charging stations in Mumbai (India) for the country's growing EV ecosystem.
The China market dominated the Asia Pacific On-board Charger Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,084.7 million by 2027. The Japan market is anticipated to grow a CAGR of 15.7% during (2021 - 2027). Additionally, The India market would experience a CAGR of 17.2% during (2021 - 2027).
Based on Propulsion Type, the market is segmented into Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV). Based on Vehicle Type, the market is segmented into Passenger Car, Buses, Vans, Medium & Heavy-Duty Vehicles, Boats, and Others. Based on Power Output, the market is segmented into Less than 11 kW, 11 kW to 22 kW, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide On-board Charger Market is Projected to reach USD 10 Billion by 2027, at a CAGR of 16.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Current Ways, Inc., Eaton Corporation PLC, STMicroelectronics N.V., Infineon Technologies AG, Bel Fuse, Inc., TDK Corporation (InvenSense), Toyota Motor Corporation, BorgWarner, Inc., Panasonic Corporation, and AVID Technology Limited.
Scope of the Study
Market Segments Covered in the Report:
By Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
By Vehicle Type
- Passenger Car
- Buses
- Vans
- Medium & Heavy-Duty Vehicles
- Boats
- Others
By Power Output
- Less than 11 kW
- 11 kW to 22 kW
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Current Ways, Inc.
- Eaton Corporation PLC
- STMicroelectronics N.V.
- Infineon Technologies AG
- Bel Fuse, Inc.
- TDK Corporation (InvenSense)
- Toyota Motor Corporation
- BorgWarner, Inc.
- Panasonic Corporation
- AVID Technology Limited
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