Asia Pacific BEV On-Board Charger Market Size - By Rating (< 11 kW, > 11 kW to 22 kW, > 22 kW), By Current (AC, DC), Growth Forecast, 2024 – 2032

Asia Pacific BEV On-Board Charger Market Size

Asia Pacific BEV On-Board Charger Market was valued at USD 9.2 billion in 2023 and will grow at a CAGR of 23.4% 2024 to 2032 Ongoing regional EV adoption and a shift towards clean energy technologies are driving the market's growth, creating a demand for faster and more efficient charging solutions. As a result, manufacturers are developing EV on-board chargers with higher power ratings, targeting a significant reduction in charging times and an improved overall user experience.
 

The rapid transformation towards low-carbon, energy-efficient, and electric-powered transportation is expected to significantly propel industry growth. Favourable government regulations, driven by the increasing effects of greenhouse gas emissions and their negative impact on environmental health, are boosting demand for sustainable electric vehicles. This in turn is driving industry trends and further accelerating growth.
 

Asia Pacific BEV On-Board Charger Market Trends

Efforts to standardize charging protocols and establish comprehensive infrastructure are propelling market growth. Such initiatives not only enhance interoperability but also offer convenience to electric vehicle (EV) owners, ensuring a smooth user experience. With the EV market in Asia Pacific evolving, the battery electric vehicle (BEV) on-board charger segment stands ready for significant expansion. This growth trajectory opens up vast opportunities for manufacturers, suppliers, and service providers to capitalize on the electrification wave. Key drivers like strong government backing, swift urbanization, and a heightened focus on environmental sustainability are steering the region towards a greener transportation future.
 

Asia Pacific BEV On-Board Charger Market Analysis

Based on rating, the > 11 kW to 22 kW rating industry is projected to surpass over USD 34.5 billion by 2032. Efforts to standardize charging protocols are actively progressing aiming to achieve uniformity and compatibility across different EV models and charging infrastructure. This initiative intends to simplify the charging process for consumers, providing a seamless experience regardless of the vehicle or charging station utilized under the same voltage rating.
 

Based on current, the Asia pacific AC on-board charger industry is projected to cross over 22.5% by 2032, fueled by the increasing adoption of battery electric vehicles in urban areas for daily commuting. Additionally, there is a rising demand for compact and efficient chargers designed for home and workplace charging scenarios, further driving market expansion.
 

China BEV On-Board charger market is anticipated to surpass over USD 57 billion by 2032. Government authorities across the country are implementing stringent emissions regulations and offering incentives to accelerate EV adoption, fostering a conducive environment for market growth. Additionally, advancements in charging infrastructure, such as the expansion of public charging networks and the deployment of fast-charging stations, are improving the accessibility and convenience of EV charging. These developments are significantly driving the growth of the on-board charger industry.
 

In India, government initiatives and regulations promoting electric vehicle adoption along with heightened consumer awareness of electric vehicles' benefits and advancements in charging technologies are driving the growth of the BEV on-board charger market. Furthermore, the swift uptake of battery electric vehicles, alongside the growing public charging infrastructure, is playing a pivotal role in bolstering the industry's expansion.
 

Asia Pacific BEV On-Board Charger Market Share

Key market players, BorgWarner Inc., Delta Energy Systems, Eaton Corporation, innolectric AG, Stercom Power Solutions GmbH, are leading manufacturers of on-board chargers. Their dominance is attributed to factors like strong brand reputation, technological innovations, reliability, and high customer satisfaction, cementing their status as preferred manufacturer and suppliers in the sector.
 

Asia Pacific BEV On-Board Charger Market Companies

Major key players operating across the Asia Pacific BEV on-board charger industry are:

• Alfanar Group
• AVID Technology Limited
• Bell Power Solution
• BorgWarner Inc.
• BRUSA Elektronik AG
• Current Ways Inc.
• Delphi Technologies
• Delta Energy Systems
• Eaton Corporation
• Ficosa International SA
• innolectric AG
• Kirloskar Electric Company
• Powell Industries
• Stercom Power Solutions GmbH
• STMicroelectronics
• Toyota Industries Corporation
• Valeo
• Xepics Italia SRL
   

Asia Pacific BEV On-Board Charger Industry News

• In July 2024, STMicroelectronics exhibited at electronica China 2024 in Shanghai, showcasing innovative solutions across Automotive, Industrial, Personal Electronics, and Cloud Infrastructure. With a focus on smart e-mobility, ST presented advanced technologies spanning electric powertrains, digital vehicle platforms, and safety systems. Highlights included their On-Board Charger (OBC) and DC-DC converter solutions for electric vehicles, supporting power levels up to 22kW.
   
• In November 2022, Alfanar has inked a framework deal with Red Sea Global to supply electric vehicle chargers for their sustainable projects. Alfanar will provide both AC and DC chargers, marking a milestone as the first local manufacturer to support Red Sea Global's green energy vision and carbon neutrality goals.
   

This Asia Pacific BEV on-board charger market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘Units’ and revenue in USD Billion from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Rating

• < 11 kW
• > 11 kW to 22 kW
• > 22 kW

Market, By Current

• AC
• DC

The above information has been provided for the following countries:

• China
• Japan
• India
• South Korea
• Australia