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Asia Pacific Electric Vehicle On-Board Charger Market Size

Report ID: GMI9565
Published Date: May 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Electric Vehicle On-Board Charger Market Size in 2023:	USD 11.3 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	23.5%
2032 Value Projection:	USD 79.7 Billion
Historical Data for:	2021 to 2023
No. of Pages:	110
Tables, Charts & Figures:	20
Segments covered:	Propulsion, Rating, & Country
Growth Drivers:	Increasing adoption of electric vehicles (EVs) in the region Rising environmental awareness and government incentives promoting EV adoption
Pitfalls & Challenges:	Concerns over charging infrastructure accessibility and range anxiety among consumers

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific electric vehicle on-board charger was crossed USD 11.3 billion in 2023 and is expected to register 23.5% CAGR from 2024 to 2032, owing to the increasing concerns towards rising pollution levels along with continuous shift towards environmental sustainability in the region.

Asia Pacific electric vehicle on-board charger industry from the BEV propulsion segment and is expected to exceed USD 64 billion by 2032 due to the increasing consumer demand for zero-emission vehicles and government incentives promoting BEV adoption.

China electric vehicle on-board charger industry is expected to surpass USD 70 billion by 2032 due to the country’s ambitious EV targets, subsidies, and incentives accelerating EV adoption and charging infrastructure development.

Aptiv, Delta Energy Systems, Eaton Corporation, Ficosa International SA, Infineon Technologies AG, Kirloskar Electric Company, Powell Industries, STMicroelectronics, and Toyota Industries Corporation, are some of the major electric vehicle on-board charger companies in Asia Pacific.