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DC BEV On-Board Charger Market Trends

Report ID: GMI11491
Published Date: Sep 2024
Report Format: PDF

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DC BEV On-Board Charger Market Trends

Favourable government incentives & regulations promoting the EV adoption across the globe coupled with increasing consumer demand for reduced EV charging time technology in the vehicles is fuelling the market growth. For instance, In July 2023, the Council of the EU enacted a law requiring the installation of fast-charging stations every 60 kilometres along highways by the end of 2025. These stations must provide a minimum output of 400 kW for cars and vans, and 600 kW for heavy-duty vehicles, with interoperability to ensure compatibility with all EVs, regardless of manufacturer. Government policies promoting clean energy and emissions reduction, including subsidies, tax benefits, and regulatory mandates for zero-emission vehicles are encouraging automakers to incorporate advanced DC on-board charging systems, further driving market growth.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size for DC BEV on-board charger was valued at USD 6.8 billion in 2023 and will grow at 23% CAGR from 2024 to 2032 driven by ongoing technological advancements in charging infrastructure along with rising adoption of electric vehicles (EVs) across the globe.

The > 22 kW rating segment in the DC BEV on-board charger industry is projected to witness over 23.5% CAGR from 2024 to 2032 due to the rising adoption of electric vehicles with faster charging capabilities.

U.S. industry size will exceed USD 3 billion by 2032 owing to the increasing government initiatives, funding, and regulations promoting the use of electric vehicles along with rising consumer awareness about the benefits of EVs.

BorgWarner, Delta Energy Systems, Eaton Corporation, Innolectric, and Stercom Power Solutions, Alfanar Group, Avid Technology, Bell Power Solution, Current Ways, Stercom Power Solutions and STMicroelectronics.