Automotive Integrated Onboard Charger Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Automotive Integrated Onboard Charger Market
The automotive integrated onboard charger market size was valued at USD 2.77 billion in 2022, and the market is now projected to grow from USD 4.44 billion in 2023 to USD 69.91 billion by 2030, exhibiting a CAGR of 48.3% during the forecast period of 2023-2030.
The COVID-19 pandemic has profoundly affected the electrical vehicle market, inflicting disruptions in deliver chains, production, and client call for because of worldwide lockdowns and financial downturns. Consequently, the boom of the EV organization has bogged down, reflecting the wider challenges confronted thru several sectors at a few levels within the pandemic.
The developing adoption of Vehicle-to-Grid (V2G), Vehicle-to-Load (V2L), and Vehicle-to-Home (V2H) functionalities is using marketplace increase for integrated charging manage gadgets. These bi-directional chargers facilitate the transfer of energy from electric powered vehicles to the grid, particular loads, or homes, enhancing strength utilization programs and grid flexibility.
The emergence of wi-fi protected On-board Chargers (iOBCs), exemplified with the aid of the use of Tesla's patented conductive and inductive charging solutions, is poised to revolutionize EV charging. Tesla's upgrades, collectively with magnetic coupler integration with DC-DC transformers, trace on the potential for self-enough charging functionality in EVs, even though optimization of device shape is wanted for improved operational overall performance.
Comprehensive Analysis of Automotive Integrated Onboard Charger Market
The automotive integrated onboard charger market growth is rising at an exponential rate due to its market segmentation. This marketplace enlargement successfully affords an in-depth local exam thinking about the dominant deliver and demand forces that effect the enterprise. These segmentations are methodically segregated by propulsion type analysis, by vehicle type analysis, by power analysis, by component analysis. By propulsion type analysis include, battery electric vehicles (BEV) and hybrid vehicles (HV). By vehicle type analysis include, passenger car and commercial vehicle. By power analysis include, up to 20 kW and above 20 kW.By component analysis include, the on-board charger and DC-DC converter.
The Europe region lead the automotive integrated onboard charger market share by benefitting a market size of USD 1.18 billion in 2023 due to Stringent emission regulations in Europe drive the adoption of electric vehicles in the region.
The pinnacle players inside the market play a critical function in the enterprise assuring market growth and placing marketplace requirements. These players include, BorgWarner Inc. (U.S.), LG Magna e-Powertrain Co., Ltd (South Korea), Meta System S.P.A (Italy), Nichicon Corporation (Japan), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Texas Instruments (U.S.), Toyota Industries Corporation (Japan), Vitesco Technologies GmbH (Germany), Yazaki Corporation (Japan) these market players provide a level-playing competitive landscape.
In January 2023, Valeo introduced a 3-in-1 combo unit, integrating OBC, DC-DC converters, and a PDU, with power ranges varying from 7kW to 22kW, for TATA Motors.
Segmentation Table
Attribute Details
Study Period 2021-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2021
Growth Rate CAGR of 48.3% from 2023 to 2030
Unit Value (USD Million)
Segmentation By Propulsion Type
Battery Electric Vehicle (BEV)
Hybrid Vehicle (HV)
By Vehicle Type
Passenger Car
Commercial Vehicle
By Power
Up to 20 kW
Above 20 kW
By Component
On-board Charger
DC-DC Converter
By Region
North America (By Propulsion, Type, By Vehicle Type, By Power, By Component)
- U.S. (By Propulsion Type)
- Canada(By Propulsion Type)
- Mexico (By Propulsion Type)
Europe (By Propulsion, Type, By Vehicle Type, By Power, By Component)
- U.K. (By Propulsion Type)
- Germany .(By Propulsion Type)
- France (By Propulsion Type)
- Rest of Europe (By Propulsion Type)
Asia Pacific(By Propulsion, Type, By Vehicle Type, By Power, By Component)
- China (By Propulsion Type)
- India (By Propulsion Type)
- Japan (By Propulsion Type)
- South Korea (By Propulsion Type)
- Rest of Asia Pacific (By Propulsion Type)
Rest of the World (By Propulsion, Type, By Vehicle Type, By Power, By Component)
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