Europe BEV On-Board Charger Market Analysis

Europe BEV On-Board Charger Market Analysis

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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.