Global Electric Charger Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Electric Charger Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Electric Charger is a device to supplement electric energy for electric vehicles, which can be divided into On-board Chargers and Off-board Chargers, mainly for residential use and commercial use. This report studies the global Electric Charger market.

Market Overview:

The latest research study on the global Electric Charger market finds that the global Electric Charger market reached a value of USD 4607.42 million in 2022. It’s expected that the market will achieve USD 26480.68 million by 2028, exhibiting a CAGR of 33.84% during the forecast period.

Under the influence of the epidemic, the electric charger has not been used for a long time, the equipment will be damaged if it is not repaired, and the electric vehicle charging station needs to be repaired again, which will increase the cost. In addition, many places were not repaired in time, customers could not charge in time, or machines broke down, resulting in fewer customers using electric chargers during the epidemic period, which could not make profits, and hindered the development of electric charger industry. The COVID-19 epidemic has affected the factories that manufacture electric chargers, that is, a large number of workers can't return to work on time, orders can't be completed on time, and companies lack cash flow and are facing a crisis of bankruptcy.

Drivers

Environmental pollution is becoming more and more serious, and people attach importance to sustainable development. Compared with traditional fuel vehicles, electric vehicles will not pollute the environment. The proposal of sustainable development makes people more inclined to choose electric vehicles, so the proposal of sustainable development increases the demand of electric vehicles, and promote the demand of Electric Charger is increasing.

Competition in the industry is fierce

There are many companies that can join the Electric Charger industry. Some companies operate in this field of Electric Charger and continue to expand their business scope. Through acquisitions and mergers in the market, the industry is highly competitive, and each company expands its sales market in different ways, thereby increasing its market share. Therefore, companies in the Electric Charger industry are facing huge challenges. Enterprises should formulate investment development strategies, innovate products, and promote their own development.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (30.6% in 2021).

Company Overview:

Schneider Electric is one of the major players operating in the Electric Charger market, holding a share of 8.19% in 2021.

Schneider Electric

Schneider Electric is a company that creates products that help people conserve energy. Schneider Electric is a global leader in energy efficiency management and automation, focusing on power management, process and machine management, information technology room management, building management, safety management, industrial software design, simulation and optimization, industrial automation and control, and safety systems and instruments.

Wanma

As a key high-tech enterprise in China, Wanma is at the leading level in the fields of wire and cable, polymer materials, special cables and charging facilities for new energy vehicles from hardware facilities to technical strength.

Segmentation Overview:

Among different product types, Off-board Chargers segment is anticipated to contribute the largest market share in 2027.

On-board Chargers

On-board Chargers are installed on vehicles and designed for slow charging speed, that is, it takes longer to charge. The advantage of On-board Chargers is that batteries can be charged anywhere there is a power outlet.

Off-board Chargers

Off-board Chargers are not limited by size and weight, and keep redundancy in power electronic converters, which increases the flexibility of the system.

Application Overview:

In the Electric Charger market, 64.35% of the total value was generated through the Residential segment by application in 2021.

Key Companies in the global Electric Charger market covered in Chapter 3:

Aptiv
ABB Ltd.
Webasto
POD Point
Hagger
Schneider Electric
Delta
Siemens AG
Kstar
Robert Bosch GmbH
Alfen BV
Wanma

In Chapter 4 and Chapter 14.2, on the basis of types, the Electric Charger market from 2018 to 2029 is primarily split into:

On-board Chargers
Off-board Chargers

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electric Charger market from 2018 to 2029 covers:

Residential
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)