The global On-Board Chargers (OBC) market size was USD 3.79 Billion in 2022 and is expected to register a revenue CAGR of 14.1% over the forecast period, according to the latest report by Reports and Data.
The demand for On-Board Chargers (OBC) used in electric and hybrid cars is on the rise due to the increasing acceptance and popularity of these vehicles. This is mainly attributed to their advantages such as lower operational expenses, reduced emissions, and better fuel efficiency. Furthermore, government initiatives to promote the use of hybrid and electric cars have also contributed to the growing demand for On-Board Chargers (OBC). The OBC plays a crucial role in converting AC power from the grid into DC power for storage in the vehicle's battery.
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The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
- Tesla, Inc.
- Delphi Technologies
- Schneider Electric SE
- Siemens AG
- AeroVironment, Inc.
- Brusa Elektronik AG
- Tritium Pty Ltd.
- Webasto Group
- Delta Electronics, Inc.
- Signet EV Inc.
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global On-Board Chargers (OBC) market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global On-Board Chargers (OBC) market?
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On-Board Chargers (OBC) Market Segmentation:
Power Output Outlook:
- Less than 10 kW
- 10 kW to 50 kW
- More than 50 kW
Vehicle Type Outlook:
- Passenger Cars
- Commercial Vehicles
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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