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The USB Car Charger market size is forecast to increase by USD 191.67 million at a CAGR of 3.02% between 2022 and 2027. The growth of the market depends on several factors such as the rising penetration of smartphones and access to the Internet, the increasing demand for smart wearables and IoT devices, and the rise in consumer preference for online purchasing of automotive accessories.
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This market report extensively covers market segmentation by type (USB 2.0 and USB 3.0) and end-user (passenger car and commercial vehicle). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The USB 2.0 segment is estimated to witness significant growth during the forecast period. USB on-the-go, a popular term used as a supplement to USB 2.0, is a high-speed connection providing speeds up to 480 Mbps in terms of data transfer. USB 2.0 has replaced several interfaces, including common power-delivering interfaces, which involved the integration of different types of charging cables in a single charger.
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The USB 2.0 segment was the largest segment and was valued at USD 1,027.85 million in 2017. With the advent of USB 3.0, many vendors are shifting their focus toward manufacturing USB 3.0 car chargers. Even so, major vendors continue to offer USB 2.0 car chargers, and they include Belkin International Universal Car Charger, Portronics Car Power 2P, and Cable Matters 10W/2A Mini Dual . These factors, thereby under the USB 2.0 segment, will expand the growth of the global car charger market during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rise in consumer preference toward online purchasing of automotive accessories is one of the key drivers supporting the market. Several aftermarket car manufacturers have entered an online market as a consequence of the eCommerce sector's growth potential. Furthermore, online purchases have increased from both retail and professional consumers, particularly in developing countries where there is an organized aftermarket. During the past decade, the e-commerce industry registered significant growth in developed countries such as the US and the UK. The prime reason for the boom in this industry is the convenience of shopping, which results in wider scalability for businesses worldwide.
Moreover, customers prefer to purchase automotive products such as car chargers, seat covers, screen washers, and glass cleaners online as it allows them to compare prices, features, and reviews of a wide number of brands that are available in the market. This allows them to make a more accurate purchase decision, thereby adding value to the purchase. Moreover, online portals offer consumers the benefit of a return or refund in case they are not satisfied with the product. These benefits are generating newer demands for s, which is acting as a factor driving the market in focus during the forecast period.
Growing penetration of wireless charging outlets is one of the primary trends that contributing to the market growth. The availability of limited power sockets and compatibility issues of charger pins with other mobile devices make charging via conventional chargers difficult. Wireless chargers provide a common platform and facilitate seamless charging of different devices. Therefore, they eliminate the need for dedicated power adapters for mobile devices. A single wireless charging pad can be used to charge any cell phone model. These outlets have wireless charging pads that are embedded in furniture for easy and convenient charging.
Moreover, Starbucks has installed Duracell Powermat wireless charging pads on tables and counters at approximately 200 of its stores across the US. Other outlets in countries such as South Korea are introducing wireless charging pads in their stores. The trend in the introduction of wireless charging pads in stores will adversely affect the demand for s and expand the growth of the global market during the forecast period.
The increasing availability of counterfeit products is one of the factors hindering the market. Counterfeit s are re-engineered copies of genuine components that are made to look alike and sold as branded products. Counterfeit s are generally classified as gray-market products and are sold by illegal, unauthorized vendors. Counterfeit s do not always follow the rules and regulations mentioned by the government of a country. Counterfeit s do not undergo proper testing and are not manufactured by the specifications mentioned by governing agencies.
Therefore, these products may fail to operate properly and cause damage to circuit components, fire hazards, and injury to consumers. The easy availability of counterfeit products restrains the sales of genuine manufactured by OEMs, thereby hindering the growth of the global market. These reasons will exert a negative impact on the growth of the market in focus during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AINOPE E COMMERCE Ltd.:- The company offers s such as dual USB fast charger QC 3.0, single port 3W fast charger and 4.8 A mini car charger.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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APAC is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing penetration of electric cars in the region is estimated to be a positive pointer for the market in focus. Countries such as Japan will drive the market in APAC due to its high electric car penetration. Japan has more electric vehicle charging stations than gas stations, owing to the rising adoption of electric cars in the country.
Furthermore, even in emerging economies such as China, the Government of China offers subsidies for the purchase of electric vehicles. This increasing demand for electric cars is estimated to be converted to new sales and drive the market in these countries during the forecast period.
Market Analyst Overview
The USB car charger market is a dynamic sector driven by various factors such as commercial vehicles applications, cost considerations, and the presence of major key players. Product pricing and penetration into different end application industries are crucial aspects influencing consumer buying behavior. Economic, political, and social scenarios play significant roles in shaping the market outlook and competitive landscape. Market segments within the USB car charger industry are delineated by factors like product evolution, competitive rivalry, and the threat of new entry or substitution.
To gain insights into this market, comprehensive research methodologies are employed, including primary and secondary research, subject matter expert advice, and qualitative and quantitative data analysis. Research sources encompass a wide range of channels, from face-to-face interviews and telephonic surveys to industry expert opinions and national government documents. Key stakeholders in this market include C-level executives, marketing managers, brand managers, product managers, and technical personnel. Access to diverse information sources such as company websites, annual reports, financial filings, and market reports is essential for a holistic understanding of the USB car charger market.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
USD Car Charger Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.02% |
Market growth 2023-2027 |
USD 191.67 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.76 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 54% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AINOPE E COMMERCE Ltd., Moshi Corp., Amazon.com Inc., Anker Technology UK Ltd., Apple Inc., AUKEY Online, Belkin International Inc., Fujitsu Ltd., Huawei Technologies Co. Ltd., Intex Technologies India Ltd., Samsung Electronics Co. Ltd., Scosche Industries, Sony Group Corp., Spigen Inc., Targus, The Duracell Co., Trianium, Xiaomi Communications Co. Ltd., Zebronics India Pvt. Ltd., and Koninklijke Philips N.V. |
Market dynamics |
Parent market analysis,Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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