On-Board Charger Market By Power output: Less than 11 kW, 11 kW to 22 kW, and More than 22 kW; By Vehicle type: Medium & Heavy-Duty Vehicles, Boats, Passenger Car, Buses, Vans, Others; By Propulsion type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicles (HEV), By Geography, Size, Share, Segment Revenue Estimation, Forecast, 2021-2030.

Industry Report and Statistics

The On-Board Charger Market is growing with a robust CAGR of 15%, valued at $5.29 Bn in 2022, and poised to reach $16 Bn by 2030, confirms SMR. Asia Pacific dominates the onboard charger market with a revenue share of 38.98%, growing with a CAGR of 18.07%.

 

The onboard charger (OBC) is an essential power electronics device in electric vehicles (EVs). The primary purpose of the onboard charger is to convert AC power from external sources into DC power. This DC power is subsequently utilized to charge the battery pack of the vehicle. The system communicates with the vehicle controller and the charging station to ascertain the optimal current and charging standard. These parameters can be modified as necessary, utilizing EVSE or vehicle controller data. The On-Board Charger (OBC) assumes a vital function in bidirectional charging modes by converting DC power sourced from the high voltage battery pack into AC power to cater to AC loads (V2L), grid power (V2G) & EVs. Onboard chargers are frequently employed in various applications, including hybrid electric vehicles (HEVs), industrial equipment, marine applications, portable power solutions, and renewable energy systems.

 

The advancements in onboard battery chargers (OBCs) have the potential to assist electric vehicle (EV) manufacturers in satisfying the growing consumer need for accelerated charging, all the while mitigating battery deterioration. Onboard chargers are available in both single-phase & three-phase models. The common capacity for a single-phase onboard charger ranges from 7.2 kW to 11 kW & a three-phase onboard charger has a capacity of 22 kW. DC fast charging bypasses the onboard charger (OBC), delivering direct current directly to the battery.

 

Three-phase OBCs offer increased capacity, helping consumers maximize AC charging while minimizing battery degradation. Safety mechanisms are integrated into onboard chargers to protect the end user and achieve functional safety in automotive applications. The OBC acts as a high-speed gateway for data between the vehicle and the grid when integrated with the EVSE controller.

 

One of the hurdles faced by the EV manufacturers is the reduction in the weight of the vehicle. The on-board charger's capability for charging power improvizes when a DC-DC converter is integrated.

 

This makes the design more complex but it boosts the overall efficacy of the on-board charger. The on-board inbuilt DC-DC charger helps in the reduction of charging times to an extent as well as increases the significance of the on-board chargers.

 

Hence, the market for DC-DC embedded on-board EV chargers is predicted to prosper significantly throughout the time frame of 2022-2030. In future, an increase in the R&D activities for improvisation in the quality of inbuilt DC-DC converters is anticipated to lead to a plethora of product launches.

 

Market Dynamics:

Market Drivers: - (Increased sales of electric vehicles will fuel the market's expansion)

• The increasing sales of electric vehicles (EVs) drive the onboard charger market, as they convert AC power from the grid into DC power to charge the vehicle's battery. The global EV market is poised to reach $1 Tn by 2030, growing with a CAGR of 11%. The demand for efficient and reliable onboard chargers is driven by increasing EV adoption, long driving range, faster charging speeds, and expanding charging infrastructure. EV manufacturers strive to increase driving range, requiring larger battery capacities and more powerful onboard chargers to charge batteries efficiently. Faster charging speeds, improved charging algorithms, and expanding charging infrastructure further drive the demand for onboard chargers. As the EV market continues to expand, the onboard charger market is projected to grow to meet the evolving needs of electric vehicle owners & charging infrastructure providers.

 

• Governments are working diligently to promote electric automobiles over those with internal combustion engines. From a survey conducted by SMR, it can be stated that United States President Joe Biden pledged 174 million USD in 2020 to improve E.V.'s onboard charging infrastructure. The U.S. has a lofty goal of electrifying 50% of its transportation by 2030. These initiatives are assisting in boosting E.V. demand in many nations, which will eventually lead to the rise of the global on-board charger market throughout the course of the anticipated term.

 

Market Restraints: -

Sales of electric vehicle onboard chargers were significantly impacted by the COVID-19 epidemic in the first half of 2020, which hampered market expansion. According to the data published by the community of Electric Vehicle Manufacturers, the manufacturing rate of E.V. onboard chargers fell by 20% in 2021, from 295,683 units in 2020 to 236,802 units, thereby plummeting the rate of market growth.

 

Opportunities: - (Bi-directional Onboard charger)

• Bi-directional onboard chargers, also known as Vehicle-to-Grid (V2G) chargers, provide an opportunity for the onboard charger market by offering benefits such as grid stabilization, energy management, demand response capabilities, renewable energy integration, revenue generation opportunities, and smart grid integration. These chargers enable electric vehicles to function as energy storage devices, balancing the supply and demand of electricity during high demand or peak load periods. The growing emphasis on efficient energy management and grid flexibility drives the need for bi-directional onboard chargers. Renault's new bi-directional onboard charger promises faster charging and battery durability, reducing energy losses by 30% and being more compact.

 

Global On-board Charger Market Segmentation Analysis

The market has been ramified based on power output, vehicle type, propulsion type, and region : -

By Power Output 

• Less than 11 kW

• 11 kW to 22 kW

• More than 22 kW

 

By Vehicle Type

• Medium & Heavy-Duty Vehicles

• Boats

• Others

• Passenger Car

• Buses

• Vans

 

By Propulsion Type 

• Battery Electric Vehicle (BEV)

• Plug-in Hybrid Electric Vehicle (PHEV)

• Hybrid Electric Vehicles (HEV)

 

By Region

• Latin America

• Brazil

• Middle East & Africa

• The Asia Pacific

• China

• South Korea

• Japan

• North America

• the U.S.

• Canada

• Europe

• Germany

• U.K.

 

Based on Power Output, the onboard charger market is categorized into <11 kW, 11 kW to 22 kW, & More than 22 kW. The 11kW to 22 kW market segment dominates the onboard charger market with a revenue share of 41%, poised to reach $6.56 Bn by 2030. The 11kW to 22kW power output range dominates the onboard charger market, suitable for residential, commercial, and public charging applications. It balances speed and energy efficiency, making it a popular choice for charging stations. The range is compatible with electrical infrastructure, making it a preferred option for setting station installations. Additionally, it offers cost-effectiveness and scalability, making it more affordable than higher power output chargers. This range’s availability makes it a reliable choice for electric vehicle owners, charging station operators, and installers. Porsche has introduced a 19.2 kW AC on-board charger for the Taycan that can charge from 0-100% in 4.8 hours, significantly reducing charging times when topping up at home.

 

Based on Vehicle Type, in 2020, the passenger car segment led the market and generated more than 35.0 percent of global sales. Electric bikes and scooters are common modalities in the electric two-wheeler industry. Like conventional two-wheelers, they are easier to steer through congested roads. Lower-speed (up to 25 km/hr) and medium-speed (up to 40 km/hr) electric two-wheelers with traditional lead-acid batteries are destined to dominate and rule the market throughout the entire forecast period. The demand for onboard chargers is anticipated to rise with the global sales of electric passenger automobiles. The sales of plug-in passenger cars in the United States reached 5.5 percent of the market share in 2020, up from 4.2 percent in 2019, according to data given by the HIS market. Additionally, sales of plug-in passenger car onboard chargers in Europe increased from 3.5 percent in 2019 to 7.7 percent in 2020.

The onboard charger market in buses is experiencing rapid growth due to various factors, including environmental regulations, government incentives, long-distance applications, transit agency commitments, battery technology advancements, and total cost of ownership (TCO) considerations. The above factors contribute to the increasing need for electric buses, which offer a cleaner & more sustainable alternative to conventional diesel buses. Transit agency commitments and TCO considerations require specialized onboard chargers for long-distance and heavy-duty applications. As the electrification of bus fleets accelerates globally, the need for efficient and reliable onboard chargers is expected to continue growing.

 

Based on Propulsion, the onboard charger market is categorized into battery electric vehicles (BEV), plug-in hybrid EVs (PHEV) & hybrid electric vehicles (HEV). The BEV vehicles segment dominates the onboard charger market with a revenue share of 67%, poised to reach $10.72 Bn by 2030. Electric motors power battery electric vehicles (BEVs) and use rechargeable battery packs as their primary energy source. The BEV segment dominates the onboard charger market due to its exclusive reliance on electric propulsion, growing popularity, longer charging times, development of charging infrastructure, and regulatory support. BEVs rely on onboard chargers for recharging their batteries, making the demand for efficient and reliable onboard chargers high. BEVs typically have larger battery capacities, requiring more powerful onboard chargers to deliver higher currents and minimize charging durations. Governments worldwide are implementing regulations and policies to promote the adoption of electric vehicles, particularly BEVs, through financial incentives, tax credits, emission regulations, and zero-emission vehicle mandates. As the demand for BEVs continues to grow, the market for onboard chargers is projected to expand.

 

Based on Region, Asia Pacific dominates the onboard charger market with a revenue share of 38.98%, growing with a CAGR of 18.07%, poised to reach $6.24 Bn by 2030. The APAC region dominates the onboard charger market due to its rapid growth in the electric vehicle market, robust manufacturing capabilities, technological advancements, and supportive government policies. The APAC EV market is growing exponentially with a CAGR of 19.88%, poised to reach $800 Bn by 2030. The region’s large population and rising disposable incomes have created a robust domestic market for electric vehicles and charging solutions, leading to the development of advanced onboard charger technologies.

The majority (more than half) of new electric vehicle registrations worldwide are in Norway. By 2024, the Electric Vehicle Association of the Philippines (EVAP) projects an annual growth rate of 8–12%, $33.6 million in revenue from services, and sales of roughly 200,000 electric vehicles.

On-board Charger Market  Report Coverage

Report Attribute	Details
The market size value in 2020	USD 4.6 billion
The revenue forecast in 2030	USD 16 billion
Growth rate	CAGR of 15%
The base year of estimation	2021
Historical data	2017 - 2020
Forecast period	2021 - 2030
Quantitative units	Revenue in USD billion and CAGR from 2020 to 2030
Report Coverage	company market share, Revenue forecast, competitive landscape, growth factors, and trends
Segments Covered	Power output, vehicle type, propulsion type, region
Power output	Less than 11 kW, 11 kW to 22 kW, and more than 22 kW
Vehicle type	Medium & Heavy-Duty Vehicles, Boats, Passenger Car, Buses, Vans, and Others
Propulsion type	Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV)
Regional scope	Asia Pacific; Europe; Latin America; MEA North America;
Country scope	U.S.; Canada; Germany; U.K.; China; South Korea; Japan; Brazil
Key companies profiled	Ficosa Internacional S.A., Delta Energy Systems; AVID Technology Limited; Eaton, Toyota Industries Corporation; Bel Fuse Inc.; Stercom Power Solutions, STMicroelectronicsinnolectric AG; BRUSA Elektronik AG; Siemens; Innolectric AG; Current Ways Inc.; Eaton Corporation; Infineon Technologies AG; Innoelectric GmbH.

On-board charger market Analysis of Competitive Landscape

Data from some well-known players are provided in the competitive landscape analysis. There are numerous large businesses in the target market, including some of the following:

Key Companies

• Delta Energy Systems
• Bel Fuse Inc. 
• Ficosa Internacional SA
• Toyota Industries Corporation
• STMicroelectronics
• Stercom Power Solutions GmbH
• Eaton
• AVID Technology Limited
• BRUSA Elektronik AG
• Siemens
• Innolectric AG
• Current Ways Inc.
• Eaton Corporation
• Infineon Technologies AG
• Innoelectric GmbH

 

On-board charger market- Recent Developments:

• On January 2023, Renault and CEA developed a new bidirectional onboard charger which will be available in vehicles by the decade’s end. The charger provides faster charging while ensuring battery durability, reducing energy losses by 30%, and being more compact than regular onboard chargers. The top charging speed is 22 kW in three-phase mode. The new component is crucial for vehicle-to-grid (V2G) capability, as battery packs lose capacity during charging and discharge.

 

• On March 2023, Premo developed a triple 3.6 KW onboard charger with a transformer and resonance inductor capable of handling up to 11 kilowatts of power. The compact design minimizes energy losses during charging, making it ideal for electric vehicles. The BCBM-11KW-004 charger measures 158 x 98 x 38cm and weighs 1500g, making it suitable for electric vehicle onboard chargers. The part is made with a thermally conductive encapsulation material like Coolmag, ensuring no bubbles or voids. The BCBM family includes solutions with 4kW, 7 kW, 11kW, and 22kW and can be customized according to customer requirements.

 

• On June 2023, BorgWarner plans to acquire Eldor, an Italy-based manufacturer of electric vehicle charging components, in a $80 million deal, aiming to expand its electric portfolio. The deal will improve BorgWarner's capability to produce 400 and 800-volt on-board chargers compatible with regional electric grid variations and introduce high-frequency DC/DC converter technology. The acquisition is expected to generate $27 Mn in revenue this year & increase sales to $273 Mn by 2027.

 

• On June 2023, Renesas Electronics and electric motor maker Nidec are collaborating to develop a 6-in-1 e-axle for electric vehicles, combining motor, inverter, and gearbox into one unit. The 'x-in-1' concept aims to improve vehicle quality by integrating power electronics functions like dc-dc converters and onboard chargers. Renesas will design the hardware and software, while Nidec plans to productize e-axle systems in 2024. The onboard charger will receive GaN power transistors. Renesas intends to deliver turn-key solutions for increasingly complex x-in-1 systems by expanding the proof-of-concept for e-axle reference designs.

 

• On April 2023, Coulomb Solutions Inc. (CSI) developed a 20kW On-Board Charger for the commercial electric vehicle industry in the North American market. This innovative solution offers total power output with single-phase input, reducing high-voltage cabling costs and overall footprint. The design is cost-effective, eliminating the need for multiple unit stacking or configuration, and allows bi-directional charging. CSI's CEO expressed satisfaction with introducing the On-Board Charger, stating that it provides an optimal solution for end-users and fleets to charge their vehicles overnight with standard outlets in their facilities.

 

Many devices that the market leaders are manufacturing are:

Name	Feature	Key Player
eMobility	In order to be a part of every xEV on the road, Ficosa eMobility offers the most cutting-edge and affordable solutions. The investigation of new energy vehicle efficiency is one of Ficosa's future goals. Innovative battery-components solutions are created by Ficosa for PHEV, BEV, and FCEV. Our zero emissions range includes BMSs, Battery BOXes, and Charging Devices solutions that are built on the foundations of excellence, dependability, safety, and innovation. ??	Ficosa Internacional SA
VersiCharge	In order to meet climate goals and make mobility in Europe carbon neutral, electromobility is a crucial building piece. We are collaborating directly with energy providers, fleet operators, businesses, cities, and end users to make the mobility revolution a reality. Exactly here is where the VersiCharge portfolio fits in.   For high-performance products, complete solutions, extensive experience, and cutting-edge software are required. VersiCharge provides clever options for dependable, practical charging at home as well as variations for business requirements.	Siemens
Wireless Charging      Coil	There are single, double, and triple-winding wireless charging coils in the Wireless Charging Coil Series. The WCC series enables inductive coupling to wirelessly transfer power to charge a variety of products, including automobile chargers for vehicles and navigation, phones, game consoles, wearable technology, unmanned aerial vehicles (UAVs), robotic cleaners, and more.	Bel Fuse Inc.