Hybrid and Electric Vehicle On-Board Charger Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR46429
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The hybrid and electric vehicle on-board charger market has the potential to grow by 7434.41 thousand units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 32.64%.

This hybrid and electric vehicle on-board charger market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (BEVs and PHEVs) and geography (APAC, Europe, North America, South America, and MEA). The hybrid and electric vehicle on-board charger market report also offers information on several market vendors, including Bel Fuse Inc., Continental AG, DEFA AS, EVolve Electrics Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, Innoelectric GmbH, Mitsubishi Corp., Panasonic Corp., and Stercom Power Solutions GmbH among others.

What will the Hybrid and Electric Vehicle On-Board Charger Market Size be in 2021?

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Hybrid and Electric Vehicle On-Board Charger Market: Key Drivers and Trends

The improvements in power capacity of on-board AC chargers are notably driving the hybrid and electric vehicle on-board charger market growth, although factors such as the growth of wireless charging infrastructure may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hybrid and electric vehicle on-board charger industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • Improvements in the power capacity of on-board AC chargers is one of the key factors driving the hybrid and electric vehicle on-board charger market growth.
  • The essential characteristics of on-board chargers are that they have low power transfer capability (which leads to more charging time) and are installed inside vehicles, adding weight to the latter.
  • The integration of high-power electronics in a single and compact device has positively impacted on-board electric charging infrastructure that can charge EVs of any size in less than one hour.
  • These improvements in the power capacity of AC chargers are driving the hybrid and electric vehicle on-board charger market.
  • The popularity of EVs is growing because of the increased marketing by vendors. Moreover, low air and noise pollution are some of the major factors responsible for the growing demand for EVs.
  • With an increasing number of EVs, the demand for electricity, especially during peak hours will also grow. To cater to this growing demand vehicle-to-grid (V2G) chargers are being developed and tested which can transfer power bi-directionally between the vehicle and the grid. 
  • This has resulted in the invention of bi-directional on-board chargers for plug-in vehicles which is a key factor driving the growth of the market during the forecast period. 

This hybrid and electric vehicle on-board charger market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Hybrid and Electric Vehicle On-Board Charger Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Bel Fuse Inc.
  • Continental AG
  • DEFA AS
  • EVolve Electrics Ltd.
  • Hyundai Mobis Co. Ltd.
  • Infineon Technologies AG
  • Innoelectric GmbH
  • Mitsubishi Corp.
  • Panasonic Corp.
  • Stercom Power Solutions GmbH

 

This statistical study of the hybrid and electric vehicle on-board charger market encompasses successful business strategies deployed by the key vendors. The hybrid and electric vehicle on-board charger market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hybrid and electric vehicle on-board charger market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Hybrid and Electric Vehicle On-Board Charger Market?

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45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for hybrid and electric vehicle on-board chargers in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The adoption of innovative technologies will facilitate the hybrid and electric vehicle on-board charger market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Hybrid and Electric Vehicle On-Board Charger Market?

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The hybrid and electric vehicle on-board charger market share growth by the BEVs segment will be significant during the forecast period. BEVs are widely considered the preferred mode of transportation of the future. They are expected to reduce air and noise pollution as well as offer improved overall performance. Although BEVs are expensive, they are a better and more viable long-term option due to their long lifespan and low maintenance costs. They are smooth to drive and provide a great degree of comfort to the passengers. Hence, the growth of the market segment has been significant.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hybrid and electric vehicle on-board charger market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Hybrid and Electric Vehicle On-Board Charger Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hybrid and electric vehicle on-board charger market growth during the next five years
  • Precise estimation of the hybrid and electric vehicle on-board charger market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hybrid and electric vehicle on-board charger industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hybrid and electric vehicle on-board charger market vendors

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Hybrid And Electric Vehicle On-Board Charger Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 32.64%

Market growth 2021-2025

7434.41 th units

Market structure

Fragmented

YoY growth (%)

26.75

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 45%

Key consumer countries

China, US, Norway, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Bel Fuse Inc., Continental AG, DEFA AS, EVolve Electrics Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, Innoelectric GmbH, Mitsubishi Corp., Panasonic Corp., and Stercom Power Solutions GmbH

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The hybrid and electric vehicle on-board charger market growth will increase by $5.94 million units during 2019-2024.
The hybrid and electric vehicle on-board charger market is expected to grow at a CAGR of 30.00% during 2019-2024.
Technavio has segmented the hybrid and electric vehicle on-board charger market by type (BEVs and PHEVs) and geographic (APAC, North America, Europe, South America, and MEA).
Bel Fuse Inc., Continental AG, DEFA AS, EVolve Electrics Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, Innoelectric GmbH, Mitsubishi Electric Corp., Panasonic Corp., Stercom Power Solutions GmbH are a few of the key vendors in the hybrid and electric vehicle on-board charger market.
APAC will register the highest growth rate of 54.21% among the other regions. Therefore, the hybrid and electric vehicle on-board charger market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the hybrid and electric vehicle on-board charger market growth are:
  • Improvements in power capacity of on-board AC chargers
  • Invention of bi-directional on-board chargers
The hybrid and electric vehicle on-board charger market vendors should focus on grabbing business opportunities from the bevs segment as it accounted for the largest market share in the base year.
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