Asia Pacific Electric Vehicle On-Board Charger Market Size - By Propulsion (BEV, PHEV), By Rating (< 11 kW, > 11 kW to 22 kW, > 22 kW), Growth Forecast 2024 – 2032

Asia Pacific Electric Vehicle On-Board Charger Market Size

Asia Pacific Electric Vehicle On-Board Charger Market was valued at USD 11.3 billion in 2023 and is set to expand at more than 23.5% CAGR between 2024 and 2032. Increasing concerns towards rising pollution levels by vehicles powered by conventional fuel along with continuous shift towards environmental sustainability is resulting in the adoption of electric vehicles in the region. Additionally, supportive government policies, including subsidies, incentives, and stringent emission regulations, are further driving market growth.
 

Advancements in charging technologies, including fast charging and wireless charging, are enhancing convenience and appeal of electric vehicles, fuelling market expansion. With Asia Pacific emerging as key hub for EV manufacturing and innovation, the electric vehicle on-board charger market in the region is poised for robust growth in the coming years.
 

Asia Pacific Electric Vehicle On-Board Charger Market Trends

The market is witnessing increasing demand for high-power on-board chargers to support fast-charging capabilities in electric vehicles, reshaping the dynamics. Also, growing emphasis on charging standardization ensures compatibility across EV models and networks for seamless consumer experiences. Advancements in wireless charging gain traction, offering hassle-free solutions, especially in urban areas and fleets. Furthermore, automaker, charging provider, and tech firm collaborations drive EV charger market growth, reflecting Asia Pacific's dynamic sustainable mobility trends.
 

Asia Pacific Electric Vehicle On-Board Charger Market Analysis

Based on propulsion, the Asia Pacific BEV electric vehicle on-board charger market will cross over USD 64 billion by 2032, driven by increasing consumer demand for zero-emission vehicles and government incentives promoting BEV adoption. Additionally, the BEV on board charger depends on battery power for propulsion, making on-board chargers a critical component for recharging their batteries.
 

Based on rating, the > 11 kW to 22 kW rating market is projected to grow with a CAGR of over 23% through 2032, soared by growing demand for efficient charging solutions to support expanding fleet of EVs. Additionally, advancements in charging infrastructure and increasing adoption of higher-capacity batteries in electric vehicles further propel the popularity of chargers in this rating segment.
 

Asia Pacific electric vehicle on-board charger market is estimated to surpass USD 70 billion by 2032. Country’s ambitious EV targets, subsidies, and incentives accelerate EV adoption and charging infrastructure development. A robust ecosystem of EV manufacturers, charging providers, and tech firms fosters innovation, driving market growth.
 

The focus on smart charging solutions, combined with the rapid expansion of charging infrastructure, will significantly drive the South Korea EV on-board charger industry. For instance, in April 2024, the South Korean Fair Trade Commission (KFTC) approved a joint venture between Kakao Mobility and LG Uplus to operate EV charging stations in the country. This collaboration will facilitate the deployment of efficient EV charging infrastructure, thereby boosting the integration of on-board chargers in electric vehicles. Moreover, stringent environmental regulations and strategic partnerships among EV manufacturers, charging infrastructure providers, and technology companies will further propel the industry expansion.
 

Asia Pacific Electric Vehicle On-Board Charger Company Market Share

Delta Electronics emerges as one of the leading companies in the Asia Pacific electric vehicle on-board charger market. Renowned for its expertise in power electronics and EV charging solutions, Delta offers a comprehensive range of on-board chargers tailored to meet the diverse needs of electric vehicle manufacturers and consumers. Its focus on innovation, reliability, and efficiency solidifies its position as a market leader in the region.
 

Asia Pacific Electric Vehicle On-Board Charger Companies

Some of the key market players operating across the Asia Pacific electric vehicle on-board charger industry are:

• alfanar Group
• Aptiv
• Bell Power Solution
• BorgWarner Inc.
• BRUSA Elektronik AG
• Current Ways Inc.
• Delphi Technologies
• Delta Energy Systems
• Eaton Corporation
• Ficosa International SA
• Infineon Technologies AG
• Kirloskar Electric Company
• Powell Industries
• STMicroelectronics
• Toyota Industries Corporation
   

Asia Pacific Electric Vehicle On-Board Charger Industry News

• 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.
   
• In January 2021, Bel Power Solutions released the BCL25-700-8, a high-efficiency, liquid-cooled inverter charger for EVs. With its export capability, wide voltage range, and bi-directional functionality, the BCL25-700-8 is a versatile solution for hybrid and fully electric vehicles.
   

This Asia Pacific electric vehicle on-board charger market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in (USD Million) and volume (Units) from 2021 to 2032, for the following segments:

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Market, By Propulsion

• BEV
• PHEV
• Others

Market, By Rating

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

The above information has been provided for the following countries:

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of APAC