On-Board Charger Market

On-Board Charger Market Size:

The global on-board charger market size reached USD 7.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 30.7 Billion by 2033, exhibiting a growth rate (CAGR) of 15.92% during 2025-2033. The market is growing rapidly driven by rising electric vehicle (EV) sales, rapid technological advancements, imposition of various government regulations and policies, heightened consumer awareness and preference for sustainability, and increasing expansion of charging infrastructure.

On-Board Charger Market Analysis:

• Market Growth and Size: The market is witnessing stable growth driven by the global surge in electric vehicle (EV) adoption, rapid evolution in charging technologies, government incentives, and shifting preferences towards sustainable transportation.
• Major Market Drivers: Key drivers influencing the market growth include rising sales of EVs, supported by environmental concerns and government policies. Additionally, rapid technological innovation in EV charging, consumer awareness of environmental issues, and expansion of EV charging infrastructure.
• Technological Advancements: Recent innovations, such as the development of faster, more efficient charging systems, and the use of materials like silicon carbide and gallium nitride, are propelling the market growth. Furthermore, the integration of smart and wireless charging technologies and improvements in thermal management are supporting the market growth.
• Industry Applications: The market is experiencing high product demand in passenger cars, buses, vans, and medium to heavy-duty vehicles, catering to both personal and commercial transportation needs.
• Key Market Trends: The key market trends involve the ongoing shift towards higher-powered chargers as EVs evolve to support faster charging and longer ranges. Additionally, the rise in aftermarket solutions, catering to the needs of existing EV owners for charger upgrades or replacements is bolstering the market growth.
• Geographical Trends: Asia Pacific leads the market due to strong EV adoption in countries like China and Japan. Other regions are also showing significant growth, fueled by supportive government policies and growing network of EV charging infrastructure.
• Competitive Landscape: The market is characterized by the presence of leading players that are focusing on technological innovation, strategic partnerships, and global expansion to strengthen their market positions. Additionally, companies are also investing in research and development (R&D) and collaborating with automotive manufacturers to develop customized and advanced charging solutions.
• Challenges and Opportunities: The market faces various challenges, such as need for standardized charging technologies, high initial setup costs, and the development of robust charging infrastructure. However, the increasing demand for electric mobility, potential emerging markets, and advancements in charging technology are creating new opportunities for the market growth.

On-Board Charger Market Trends:

The rising electric vehicle (EV) sales

The surge in electric vehicle (EV) sales, fueled by increasing environmental awareness, advancements in EV technology, and a growing recognition of the long-term cost benefits of EVs, is boosting the market growth. Furthermore, governments across the globe are actively promoting EV adoption through subsidies, tax rebates, and investment in charging infrastructure, making EVs more accessible and appealing to a broader audience. This expanding popularity of EVs is facilitating the demand for essential components like on-board chargers, owing to their crucial role in battery management and vehicle operation. Additionally, the push towards reducing global carbon emissions, which has positioned EVs as a key solution, thereby driving more investment and research in the sector, is contributing to the market growth.

Rapid technological advancements

Recent technological advancements in on-board chargers are significantly propelling the market growth. Modern on-board chargers encompass a range of innovations aimed at improving efficiency, reducing charging time, and enhancing user convenience. In line with this, the developments in semiconductor technology, such as the adoption of silicon carbide (SiC) and gallium nitride (GaN), leading to chargers that are more efficient, compact, and capable of handling higher power levels, are positively influencing the market growth. Moreover, the integration of smart charging technology, allowing for better management of charging schedules and power consumption, aligning with the increasing focus on smart grid systems, is favoring the market growth. Furthermore, recent innovations in thermal management systems, contributing to improved safety and longevity of the device, are fueling the market growth.

Imposition of various government regulations and policies

Governments are implementing a variety of measures to promote the adoption of EVs as part of their broader environmental and energy strategies. They include financial incentives, such as tax credits, subsidies, and rebates for EV purchasers, which directly lower the cost barrier for consumers. Additionally, several countries are setting ambitious targets for reducing vehicle emissions and are mandating a shift towards electric mobility, creating a significant push towards EVs. This regulatory environment not only encourages consumers to choose EVs but also compels automotive manufacturers to increase their EV offerings, subsequently driving the demand for on-board chargers. Moreover, governments are investing in EV charging infrastructure, which indirectly supports the on-board charger market by enhancing the overall feasibility and convenience of owning an EV.

Heightened consumer awareness and preferences for sustainability

Modern consumers are more environmentally conscious and are actively seeking ways to reduce their carbon footprint.. Additionally, the easy availability of a wide range of EV models, catering to various budgets and preferences, makes it easier for consumers to find a vehicle that suits their needs. Besides this, ongoing technological advancements are contributing to the evolving social perception of EVs as forward-thinking vehicles. As a result, the heightened consumer awareness about sustainability and eco-friendly transportation options, such as EVs, is simultaneously increasing the demand for their critical components, including on-board chargers.

Increasing expansion of charging infrastructure

The expansion of charging infrastructure is a critical factor driving the on-board charger market. The availability and accessibility of charging stations are crucial in determining the practicality and attractiveness of electric vehicles. Governments and private companies are investing heavily in the development of charging infrastructure, including public charging stations and home charging solutions. It not only alleviates one of the major concerns of EV buyers but also signals a commitment to the long-term viability of electric mobility. This growing network of charging stations, especially fast-charging stations, is directly impacting the on-board charger market, as they are an essential component of the EV charging ecosystem.

On-Board Charger Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on power, vehicle type, propulsion type, and distribution channel.

Breakup by Power:

• Less Than 11 kW
• 11 kW to 22 kW
• More Than 22 kW
   

11 kW to 22 kW accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the power. This includes less than 11 kW, 11 kW to 22 kW, and more than 22 kW. According to the report, 11 kW to 22 kW represented the largest segment.

The 11 kW to 22 kW segment holds the largest market share as it strikes an optimal balance between charging speed and compatibility with both home and public charging infrastructure. It caters to a wide range of vehicles, including premium consumer cars, light commercial vehicles, and some high-performance EVs. Furthermore, 11 kW to 22 kW chargers significantly reduce charging time compared to lower-powered chargers and do not require the extensive infrastructure and power demands of higher-powered options. Moreover, they are particularly well-suited for urban environments and for users who may not have consistent access to rapid charging stations.

The less than 11 kW segment targets the consumer sector, especially for personal and household use EVs. These chargers are typically used in compact and mid-range EVs, where the emphasis is on cost-efficiency and compatibility with home charging setups. Furthermore, the less than 11 kW chargers are ideal for overnight charging, as they offer a balance between charging speed and energy efficiency without the need for specialized infrastructure.

More than 22 kW chargers are geared towards high-performance and luxury EVs, as well as commercial and heavy-duty EVs. They are designed for rapid charging, significantly reducing downtime for vehicles that require frequent or quick recharging. Furthermore, these chargers are relevant for commercial fleets, public transportation, and high-end consumer vehicles where fast charging is a crucial feature.

Breakup by Vehicle Type:

• Passenger Car
• Buses
• Vans
• Medium and Heavy Duty Vehicles
• Boats
• Others
   

Passenger car holds the largest share in the industry

A detailed breakup and analysis of the market based on the vehicle type have also been provided in the report. This includes passenger car, buses, vans, medium and heavy duty vehicles, boats, and others. According to the report, passenger car accounted for the largest market share.

The passenger car segment represents the largest market share, driven by the widespread adoption of EVs among individual consumers. It includes a diverse range of vehicles, from compact cars to luxury sedans, catering to different consumer preferences and needs. Furthermore, the increasing environmental awareness, favorable government policies, and advancements in EV technology, which have made electric passenger cars more accessible and appealing, are contributing to the market growth. Additionally, manufacturers are continually expanding their EV offerings with improved range, performance, and affordability, further driving the market growth.

The buses segment caters to public and private transportation systems. Electric buses are becoming increasingly popular in urban and metropolitan areas as cities aim to reduce emissions and noise pollution. The on-board chargers for buses are typically higher in power capacity to ensure quick turnaround times and maintain operational efficiency.

The vans segment serves primarily commercial and utility vehicles, including delivery vans and service vehicles. On-board chargers for vans are designed to balance charging speed and energy efficiency, as these vehicles typically require frequent charging but operate over shorter distances. Furthermore, the rising trend of e-commerce and the consequent need for efficient last-mile delivery solutions is fueling the market growth.

The medium and heavy-duty vehicles segment includes a range of vehicles, such as trucks, lorries, and large commercial vehicles. It is critical for the transportation and logistics industry, where there is a growing emphasis on reducing carbon emissions and operating costs. The on-board chargers for these vehicles are high-powered to accommodate the larger battery capacities and the demand for quick charging.

The boats segment focuses on the electrification of marine transportation. It includes a range of boats, from small recreational vessels to larger commercial and passenger boats. Furthermore, the growing need to reduce emissions and noise, particularly in sensitive environments like lakes and coastal areas, is positively influencing the market growth.

Breakup by Propulsion Type:

• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
   

Battery electric vehicle (BEV) represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the propulsion type. This includes battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV). According to the report, battery electric vehicle (BEV) represented the largest segment.

The battery electric vehicle (BEV) segment holds the largest market share, attributed to the growing popularity and adoption of fully electric vehicles. BEVs, powered entirely by batteries, require efficient and reliable on-board charging systems to manage their energy needs. Furthermore, the increasing consumer preference for BEVs, owing to their environmental benefits, lower operating costs, and improved range and performance, is contributing to the market growth. Besides this, the implementation of various government incentives and regulations promoting zero-emission vehicles is positively influencing the market growth. Additionally, the expanding EV infrastructure and technological innovations in charging systems, which are continuously enhancing the convenience and practicality of owning a BEV, is fueling the market growth.

The plug-in hybrid electric vehicles (PHEVs) combine an internal combustion engine with an electric battery that can be recharged by plugging into an external power source. They offer flexibility, allowing drivers to use electric power for short trips and the combustion engine for longer journeys, alleviating range anxiety. On-board chargers in PHEVs are crucial for maintaining the efficiency and effectiveness of the electric aspect of the vehicle.

Breakup by Distribution Channel:

• OEMs
• Aftermarket
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes OEMs and aftermarket.

The original equipment manufacturers (OEMs) are the primary source for on-board chargers in new EVs, integrating these chargers directly into the vehicle during the manufacturing process. This segment is driven by the increasing production of EVs globally as automotive manufacturers respond to the growing demand for sustainable transportation solutions.

The aftermarket segment caters to the needs of existing EV owners seeking upgrades, replacements, or enhancements to their vehicle's charging capabilities. It offers flexibility for consumers to choose chargers that may offer faster charging speeds or additional features compared to the original charger. Furthermore, aftermarket provides solutions for out-of-warranty vehicles where OEM parts might be more expensive or less accessible.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest on-board charger market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The Asia Pacific region holds the largest market share due to the rapid growth of EV adoption in countries like China, Japan, and South Korea. Additionally, the region has become a hub for EV innovation and manufacturing, with significant investments in technology development and charging infrastructure. Moreover, the presence of major EV manufacturers and battery producers in Asia Pacific is contributing to the market growth. Besides this, the imposition of supportive policies by regional governments policies promoting EV adoption through subsidies and regulations, is positively influencing the market growth.

The on-board charger market in North America is driven by a combination of environmental concerns, technological advancements, and government incentives. Additionally, the region hosts some of the world's leading EV manufacturers and technology companies, which are constantly innovating in the field of electric mobility. Besides this, the implementation of supportive government policies aimed at promoting clean energy and reducing carbon emissions is driving the market growth.

Europe's on-board charger market is driven by stringent environmental regulations and a strong push towards reducing carbon emissions. Additionally, the European Union (EU) is at the forefront of implementing policies that encourage the adoption of electric vehicles, including setting ambitious targets for reducing vehicle emissions. Furthermore, the high demand for efficient and fast charging solutions, reflecting the region's commitment to sustainable transportation, is fueling the market growth.

The Latin American on-board charger market is gradually growing, driven by increasing urbanization and the rising awareness of environmental issues. Additionally, the growing interest in sustainable transportation solutions, coupled with increasing investment in EV infrastructure, is bolstering the market growth. Besides this, the rising need for cleaner transportation options to tackle pollution in major cities is strengthening the market growth.

The on-board charger market in the Middle East and Africa region is primarily driven by the increasing interest in diversifying energy sources and reducing reliance on oil. Additionally, the rising investment in smart city projects that include electric vehicle initiatives is catalyzing the market growth. Besides this, the implementation of supportive policies by regional governments, making on-board chargers more accessible and affordable, is driving the market growth.

Leading Key Players in the On-Board Charger Industry:

Leading players are actively engaging in a range of strategic actions to strengthen their position and capitalize on the growing demand for electric vehicles (EVs). They are heavily investing in research and development (R&D) to innovate and improve their on-board charger technologies, focusing on increasing efficiency, reducing charging times, and enhancing compatibility with a wider range of vehicles. Additionally, several companies are pioneering advancements in high-power charging technologies, such as silicon carbide (SiC) and gallium nitride (GaN) based chargers, which offer superior performance compared to traditional chargers. Besides this, market leaders are forming strategic partnerships and collaborations with automotive manufacturers, technology companies, and energy providers to expand their reach.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Bel Fuse Inc.
• BRUSA Elektronik AG
• Delta Energy Systems
• Ficosa International SA
• innolectric AG
• KOSTAL Automobil Elektrik GmbH & Co. KG
• Robert Bosch GmbH
• Semiconductor Components Industries LLC
• Stercom Power Solutions GmbH
• STMicroelectronics N.V.
• Texas Instruments Incorporated
• Toyota Industries Corporation
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• In January 2021, Bel introduced a bi-directional BCL25-700-8 onboard battery charger that are equipped with four parallelly connected charging units.
• In January 2020, Innoelectric AG completed the deployment of its 22 kW onboard charger with silicon carbide technology.
• In December 2022, KOSTAL announced the establishment of a new power electronics plant that will manufacture onboard charger and other electronic components.

On-Board Charger Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the on-board charger market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global on-board charger market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the on-board charger industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.