Home > Energy & Power > Emerging Energy Technologies > EV Charging Infrastructure > Electric Vehicle On-Board Charger Market
Electric Vehicle On-Board Charger Market Size
- Report ID: GMI6963
- Published Date: Oct 2023
- Report Format: PDF
Electric Vehicle On-Board Charger Market Size
Electric Vehicle On-Board Charger Market was valued at USD 6.1 billion in 2023 and is projected to grow at a CAGR of over 9.3% from 2024 to 2032. Driven by environmental concerns along with the rise in private and government incentives & investments. This surge in EV adoption naturally drives the demand for onboard chargers. For instance, in March 2022, Ford made an announcement that it would boost its worldwide investment in electric vehicles (EVs) to USD 50 billion. The ambitious commitment positioned Ford as the fourth-largest investor in EVs among all global automakers and the leading one in the United States.
Increasing concern for advanced materials & cooling across electric vehicles along with rising trend of bidirectional charging speed across EV’s will complement the electric vehicle on-board charger market scenario. In addition, there was a trend toward developing onboard chargers with higher power ratings to reduce charging times. Faster chargers are seen as more attractive to consumers and are a significant selling point for automakers.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Electric Vehicle On-Board Charger Market Size in 2023: | USD 6.1 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 9.3% |
| 2032 Value Projection: | USD 14.2 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 390 |
| Tables, Charts & Figures: | 480 |
| Segments covered: | Rating, Propulsion, & Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Electric Vehicle On-Board Charger Market Scope
