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On-Board Charger Market: A Soaring Ride from $5.05 Billion to $11.67 Billion From 2024 to 2029, Powered by an 18.3% CAGR
On-Board Charger Global Market Report 2025
What Is The Projected Market Size Of The Global On-Board Charger Market And Its Growth Rate?
• The on-board charger market is growing rapidly, increasing from $5.05 billion in 2024 to $5.96 billion in 2025, which translates to a compound annual growth rate (CAGR) of 18.1%.
• The market size is expected to further skyrocket to $11.67 billion in 2029 with a CAGR of 18.3%.
This impressive growth is attributed to factors such as government incentives, increased adoption of electric vehicles, emission reduction goals, and technological advancements in faster charging.
What Is Driving The Growth In The On-Board Charger Global Market?
The boom in the demand for electric vehicles, propelled by climate change concerns and economic benefits, is a key driver for the On-Board Charger Market. Despite the economic consequences of the COVID-19 pandemic decreasing the demand for conventional fuel vehicles, the appetite for EVs continues to grow globally. This demand is not just transformative for the transportation sector, but also offers economic advantages through fuel cost savings and a shift from petroleum products to locally produced power vehicles. For instance, according to projections by the Edison Electric Institute, the number of EVs on U.S. roads will escalate from 2.4 million in 2021 to an astounding 26.4 million by 2030, and annual sales will hit nearly 5.6 million, equivalent to 32% of total light-duty vehicle sales.
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Who Are the Key Players Driving On-Board Charger Global Market Growth?
• Delta Energy Systems Corp.
• Toyota Motor Corporation
• Eaton Corporation
• STMicroelectronics NV
• Stercom Power Solutions GmbH
• BorgWarner Inc.
• Ficosa Corporation
• LG Electronics Ltd.
• BYD Co. Ltd.
• Tesla Corp.
• AVID Technology Limited
• Bel Fuse Inc.
• BRUSA Elektronik AG
• Siemens AG
• Innolectric AG
• Current Ways
• Yazaki Corporation
• Aptiv Global Operations Limited
• Hyundai Mobis Co. Ltd.
• Mitsubishi Electric Corporation
• Infineon Technologies AG
• Xepics Italia SRL
• Hangzhou Aodi Electronic Control Co. Ltd.
• Meta Systems S.p.A.
• Leopold Kostal GmbH Co.
• Dilong Technology Co. Ltd.
• ClipperCreek Inc.
• Schneider Electric SE
• Signet Systems Inc.
• Tritium Pty Ltd.
What Are The Key Trends In The On-Board Charger Global Market Report?
• Establishment of high-power charging stations
• Deployment of EV charging infrastructure
• Technological advancements in on-board chargers
• Evolution in battery technology
• Vehicle-to-grid (v2g) development
What Are The Segments Of The Global On-Board Charger Global Market?
1) By Power Output: Below 7.2 kW, 7.2 kW-15 kW, Above 15 kW
2) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
3) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV)
Which Region Leads The On-Board Charger Global Market?
Asia-Pacific was the largest market for on-board chargers in 2024, indicating the region's robust infrastructure and governmental support for electric vehicles. Other regions explored in this market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The On-Board Charger Global Market Report 2025?
Analyzes the On-Board Charger Global Market size by key regions, countries, product types, and applications. Identifies various subsegments within the On-Board Charger Global Market for effective categorization. Focuses on key players to define their market value, share, and competitive landscape. Examines individual growth trends and prospects in the Market. Evaluates contributions of different segments to the overall On-Board Charger Global Market growth. Details key factors influencing market growth, including opportunities and drivers. Analyze challenges and risks affecting the On-Board Charger Global Market. Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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