Europe Electric Vehicle On-Board Charger Market Size - By Propulsion (BEV, PHEV), By Rating (< 11 kW, > 11 kW to 22 kW, > 22 kW), Country Outlook & Forecast, 2024 – 2032

Europe Electric Vehicle On-Board Charger Market Size

Europe Electric Vehicle On-Board Charger Market was valued at USD 5.9 billion in 2023 and is set to grow at a CAGR of 21.3% from 2024 to 2032, 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.
 

Advancements in charging technologies, including fast charging and wireless charging, are significantly enhancing the convenience and adoption of electric vehicles. This is driving market expansion, particularly as Europe emerges as a central hub for EV manufacturing and innovation. Consequently, the electric vehicle on-board charger market in the region is expected to experience robust growth in the coming years?.
 

Europe Electric Vehicle On-Board Charger Market Trends

Stringent emissions standards and ambitious goals for electric vehicle (EV) uptake have emerged as crucial catalysts, spurring significant investments in EV 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. From 2030 onwards, vans will face a 50% reduction target, while cars will aim for a 55% reduction target, all relative to a baseline set in 2021. 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, which in turn will propel the industry growth.
 

Europe Electric Vehicle On-Board Charger Market Analysis

Based on propulsion, the Europe BEV electric vehicle on-board charger industry will surpass over USD 25 billion by 2032, driven by increasing consumer demand for zero-emission vehicles and bolstered by government incentives promoting the adoption of battery electric vehicles (BEVs). These chargers are essential components for BEVs as they rely solely on battery power for propulsion, necessitating efficient on-board charging solutions to recharge their batteries.
 

Based on rating, the > 11 kW to 22 kW rating segment is estimated to grow with a CAGR of over 21% through 2032, driven by the growing demand for efficient charging solutions to support the expanding fleet of electric vehicles (EVs). Additionally, advancements in charging infrastructure and the increasing adoption of higher-capacity batteries in electric vehicles are further boosting the popularity of chargers in this segment?.
 

Europe electric vehicle on-board charger market is projected to surpass USD 8.1 billion by 2032. Growing environmental concerns, increased private and government incentives, and investments across developing EV infrastructure is set to propel the industry outlook. 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 hybrid electric vehicles.
 

Favourable schemes for the adoption of electric vehicles and policies regarding emission reduction have positively influenced a positive business landscape for EV on-board chargers in Norway. For instance, starting from 2023, Norway implemented a purchase tax based on the weight of new electric vehicles (EVs), which in turn will aid the adoption of EVs in the country, thereby contributing to the overall market growth.
 

Europe Electric Vehicle On-Board Charger Market Share

Aptiv, BRUSA Elektronik AG, Eaton Corporation, Infineon Technologies AG as one of the leading companies in the Europe electric vehicle on-board charger industry. Renowned for their expertise in power electronics and EV charging solutions, these companies offer a comprehensive range of on-board chargers designed to meet the diverse needs of electric vehicle manufacturers and consumers. Its emphasis on innovation, reliability, and efficiency reinforces its status as a market leader in the region.
 

Europe Electric Vehicle On-Board Charger Market Companies

Major key players operating across the Europe electric vehicle on-board charger industry are:

• Aptiv
• alfanar Group
• BRUSA Elektronik AG
• BorgWarner Inc.
• Bell Power Solution
• Current Ways Inc.
• Delta Energy Systems
• Delphi Technologies
• Eaton Corporation
• Ficosa International SA
• Infineon Technologies AG
• innolectric AG
• Stercom Power Solutions GmbH
• STMicroelectronics
• Powell Industries
• Toyota Industries Corporation
• Xepics Italia SRL
   

Europe Electric Vehicle On-Board Charger Industry News

• In September 2023, Valeo launched EV high voltage on-board charger. It boasts worldwide usability with a wide input range compatible with both 1-phase and 3-phase systems. Its bidirectional power flow capability supports vehicle-to-everything (V2X) applications, while its platform design enables versatility across different products.
   
• In February 2023, Bel Fuse entered into an agreement along with investing a minority stake in Germany-based innolectric AG, focusing on advancing electric vehicles (EV) fast charging technology. This collaboration capitalizes the company’s innovative product line and engineering expertise in on-board power electronics, complementing their Power portfolio.
   

This Europe electric vehicle on-board charger market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in (USD Million) and volume (Units) from 2021 to 2032, for the following segments:

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Market, By Propulsion

• BEV
• PHEV
• Others

Market, By Rating

• < 11 kW
• > 11 kW to 22 kW
• > 22 kW

The above information has been provided for the following countries:

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