Electric Vehicle on Board Charger In-Depth Market Insights Revealed to Future Forecasts and Key Developments Until 2030 | Aptiv Global Operations Limited, Borgwarner Inc., Hyundai Mobis Co.

From 2023 to 2030, the worldwide EV on-board charger market is anticipated to expand at a compound annual growth rate (CAGR) of 18.5%, reaching USD 19.67 billion. The design, production, and distribution of charging systems integrated into electric cars are the primary objectives of the electric vehicle (EV) on-board charger market, a part of the automotive industry. External charging stations are not required thanks to on-board chargers (OBCs), which enable EVs to be plugged into regular AC outlets. Government assistance for EV use, rising EV adoption, and the development of new OBC technologies are all contributing to this rise. The need for OBCs with higher power output is rising as EVs become more potent and have longer ranges. It will enable EVs.

Government incentives, environmental concerns, and advancements in EV technology are projected to propel the global EV industry to considerable growth in the upcoming years. Consequently, there will be a rise in the need for EV on-board chargers. EVs can be charged more rapidly thanks to faster charging methods, which makes them more practical and appealing to customers. Higher power rating EV on-board chargers are becoming more popular as a result.Governments all across the globe are implementing laws and providing incentives to encourage the use of EVs. These regulations include criteria for EV charging infrastructure, rewards for EV owners, and specifications for EVs that have just been produced. These regulations are promoting the market expansion for EV on-board chargers.

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Most Prominent Players in the Market are Aptiv Global Operations Limited, Borgwarner Inc., Hyundai Mobis Co., Ltd, Eaton Corporation plc, Mitsubishi Electric Corporation, Infineon Technologies AG, Ficosa Internacional SA -, LG Magna e-Powertrain Co., Ltd, Current Ways, Inc., Xepics ItaliaSRL,

This report segments the Electric Vehicle on Board Charger In-Depth Services Market on the basis of Types are:

BEV
PHEV
HEV

On the basis of Application, the Electric Vehicle on Board Charger In-Depth Services Market is segmented into:

Passenger Car
Commercial Vehicl

EVs with bidirectional on-board chargers may discharge electricity back to the grid in addition to charging from an external power source. Although this technology is still in its infancy, it has the potential to assist with grid stabilisation and lower energy prices. In order to facilitate quicker charging, there is an increasing need for EV on-board chargers with larger power ratings, as was already indicated. Many businesses are creating on-board chargers with power ratings of at least 350 kW.Additionally, businesses are working on integrating and improving on-board chargers. This involves the creation of more affordable, lightweight, and compact on-board chargers.

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The largest  on-board chargers for electric vehicles market is in the Asia Pacific area, followed by North America and Europe. The rising adoption of electric cars in China and India is fueling the market expansion in the Asia Pacific region. The market is expanding in North America and Europe, and this expansion is being fueled by governmental subsidies and rising gasoline costs.

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