Global Electric Vehicle On Board Charger Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Electronics and electric cars, lithium-metal batteries hold promise as next-generation energy storage devices

The Global Electric Vehicle On Board Charger Market is estimated to be USD 5.23 Bn in 2023 and is expected to reach USD 8.12 Bn by 2028 growing at a CAGR of 9.21%.

Market dynamics, which refers to the ever-changing and evolving conditions, trends, and forces that impact the industries, is crucial for industry overview. It includes consumer demands, competition, technological advancements, economic shifts, and regulatory changes. We monitor the market and analyze the balance between demand and supply. Market dynamics that include drivers, restraints, opportunities, challenges, and insights are needed to make strategic decisions, whether entering new markets, launching new products, or setting pricing strategies.

The emerging trends in the market require market analysis to help set goals, make informed decisions about market entry and product development pricing, and inspire innovation to stay competitive and meet changing requirements. One of the most important elements is to analyze competitors to identify the gaps specific to the geographic location, product offerings, pricing, and opportunity areas for growth in internal and external development.

Understanding consumer behavior and market trends holistically is necessary to expand the company into new horizons and position itself in a new or existing market. It helps gain a competitive edge, save time & money, and reduce risks in the long term.

Market Segmentations

• The Global Electric Vehicle On Board Charger Market is segmented based on Charger Type, Charger Power Rating, Charging Level, Charging Connector, Propulsion Type, End-Users, and Geography.
• The Electric Vehicle On-Board Charger is a critical component in the charging infrastructure of electric vehicles (EVs). The type of charger-AC or DC-plays a pivotal role in determining electric vehicles' charging capabilities, compatibility, and overall efficiency.
• AC On-Board Chargers are designed to convert alternating current (AC) from the grid into direct current (DC) for the vehicle's battery. These chargers are commonly used in residential and commercial settings where AC charging infrastructure is prevalent. AC On-Board Chargers are compatible with standard AC power outlets, making them suitable for various charging environments. AC chargers can accommodate a variety of power levels, allowing for flexibility in charging speeds based on the available infrastructure. AC chargers are commonly used for overnight charging at home, providing convenience for EV owners. Integrating smart charging features, such as remote monitoring and scheduling, is a growing trend in AC onboard chargers, enhancing user experience and optimizing energy usage. A trend towards higher power ratings for AC chargers enables faster charging times without needing more complex DC infrastructure.
• DC On-Board Chargers are designed to convert electricity from the grid into the DC required for the vehicle's battery directly. These chargers are commonly found in public fast-charging stations and are known for their ability to provide rapid charging. DC chargers excel in providing fast charging capabilities, significantly reducing the time required to charge an electric vehicle compared to AC chargers. DC chargers are commonly deployed in public charging stations along highways and urban areas, catering to the need for quick charging on the go. DC On-Board Chargers often have higher power ratings than AC chargers, allowing faster charging speeds. There is a trend towards ultra-fast DC charging, with advancements allowing for extremely high power outputs, reducing charging times even further. Some DC chargers support bidirectional charging, enabling energy transfer from the vehicle to the grid, and supporting vehicle-to-grid (V2G) applications.

Recent Development

• BorgWarner, a global automotive supplier, completed the acquisition of Delphi Technologies, a leading provider of propulsion technologies. The merger is aimed to strengthen BorgWarner’s position in the electric vehicle market and expand its portfolio of electrification solutions, including on-board charging systems. - January 2020

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Bel Power Solution, Bosch, BRUSA Elektronik AG, Current Ways Inc., etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Electric Vehicle On Board Charger Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Electric Vehicle On Board Charger Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Electric Vehicle On Board Charger Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market