The North America On-Board Charger Market would witness market growth of 16.0% CAGR during the forecast period (2021-2027).
Approvals for AC level 2 charging stations are one of the primary reasons driving the market forward. For example, EVBox, a developer of electric car charging infrastructure, in October 2020 stated that their EVBox Iqon, a level 2 commercial charging station, has gained a UL certification and is now ready for installation across North America.
The industry is growing because to the increased deployment of electric charging stations around the world. In an electric car that supports AC level 1 and level 2 charging, on-board chargers are used. According to a study published by Idaho National Laboratory, DC fast chargers account for 8% of Nissan Leaf charging, while AC level 1 and level 2 chargers account for the remaining 80%.
North America is one of the most enthusiastic supporters of electric vehicle adoption. By developing affordable, innovative BEV cars like the Tesla Model X, companies like Tesla have snatched up the majority of the market share in the region. Tesla has created a charging infrastructure network in the area, which has encouraged EV adoption even more. For the North American region, technological developments, infrastructural availability, and product innovation are significant market growth drivers.
The US market dominated the North America On-board Charger Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,958.6 million by 2027. The Canada market is expected to witness a CAGR of 18.6% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 17.6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global On-board Charger Market is Estimated to reach $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.
By Propulsion Type
By Vehicle Type
By Power Output
By Country
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