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

Europe BEV On-Board Charger Market Size

Europe BEV On-Board Charger Market size was valued at USD 4.3 billion in 2023 and is projected to grow at a CAGR of 22.1% from 2024 to 2032. Stringent emissions standards and ambitious goals for electric vehicle (EV) uptake have emerged as crucial catalysts, spurring significant investments in BEV on-board chargers throughout the European region. For instance, starting in 2025, Regulation (EU) 2019/631 introduces more stringent EU-wide CO2 fleet targets, including a 15% reduction by 2025 for both cars and vans.
 

In the region, regulations mandate a zero-CO2 emission target for new cars and vans starting in 2035. This ambitious framework underscores the European Union's commitment to combatting climate change and accelerating the transition to cleaner transportation solution and play a vital role in the development of electric vehicle on-board charger throughout Europe over the coming years.
 

Europe BEV On-Board Charger Market Trends

Europe stands at the forefront of the global transition towards sustainable transportation, with battery electric vehicles (BEVs) emerging as a key component of the region's decarbonization efforts. The market has witnessed significant growth in recent years, propelled by a combination of regulatory incentives, technological advancements, and shifting consumer preferences.
 

With ambitious targets set by policymakers to reduce carbon emissions and achieve climate neutrality, the adoption of EVs has become a top priority across the region. As a result, the demand for on-board chargers has soared, driven by the need to expand charging infrastructure and meet the growing needs of EV owners.
 

Europe BEV On-Board Charger Market Analysis

Based on rating, the market is segmented into < 11 kW, > 11 kW to 22 kW, and > 22 kW. The > 11 kW to 22 kW rating industry is projected to surpass over USD 13.5 billion by 2032. Efforts to standardize charging protocols are making significant progress, with the objective of achieving consistency and interoperability across different electric vehicle models and charging networks. This initiative is focused on simplifying the charging experience for consumers, enabling a smooth and uniform process regardless of the EV or charging station, as long as they share the same voltage rating.
 

Based on current, the Europe BEV On-board charger market is divided into AC and DC. The AC on-board charger segment is set to expand at 21.5% CAGR through 2032. The market is witnessing significant growth driven by the increasing adoption of battery electric vehicles in urban areas for daily commuting. Moreover, the rising demand for compact and efficient chargers, particularly for home and workplace charging scenarios, is further propelling market expansion.
 

The BEV On-Board charger market of Germany is anticipated to surpass over USD 6 billion by 2032. Growing environmental concerns, increased private and government incentives, and investments across developing EV infrastructure is set to propel the industry outlook in Germany. The market is influenced by a trend towards developing on-board chargers with higher power ratings to reduce charging times, catering to the rising demand for battery electric vehicles.
 

Norway is one of the primal influencers in electric vehicle adoption across the region, with more than 80 percent of new vehicles sold being electric. Aligning with political objectives, the nation aims for its entire vehicle fleet to consist of zero-emission vehicles, including electric or hydrogen-powered cars, by 2025. The country's effective economic and social incentives, reliable power grid, and demographics will contribute to the market growth.
 

Europe BEV On-Board Charger Market Share

Major key players in the market includes BorgWarner Inc., Delta Energy Systems, Eaton Corporation, innolectric AG, and Stercom Power Solutions GmbH. Their dominance stems from a robust brand reputation, cutting-edge technological innovations, unwavering reliability, and elevated customer satisfaction. These attributes solidify their position as the preferred manufacturers and suppliers in the sector.
 

Europe BEV On-Board Charger Market Companies

Some of the key market players operating across the Europe 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
   

Europe BEV On-Board Charger Industry News

• In February 2024, Infineon Technologies AG collaborated with VMAX to enhance the efficiency and cost-effectiveness of fast charging solutions for electric vehicles. VMAX integrate Infineon's CoolSiC hybrid discrete technology for their next-generation 6.6 kW OBC/DCDC on-board chargers, leveraging ultra-fast TRENCHSTO 5 IGBTs and Schottky Diodes to achieve superior performance and power density.
   
• In June 2023, BorgWarner announced the acquisition of Eldor Corporation's electric hybrid systems segment for 80 million USD, with potential additional payment contingent on performance. This acquisition includes on-board chargers, integrated high voltage boxes and DC/DC converters, enhancing its product lineup. Furthermore, the company’s EHS segment complements BorgWarner's capabilities, allowing for the engineering of compact and efficient 400V and 800V on-board chargers, and introducing innovative high-frequency DC/DC converter technology to the portfolio.
   

The Europe 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 2021 to 2032, for the following segments:

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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:

• Norway
• Germany
• France
• Netherlands
• UK
• Sweden