Press release
Manual Car Charger Market Growth to be Driven by Emerging Trends | $11.43 Billion by 2029
Manual Car Charger Market
What is the Projected Market Size of the Manual Car Charger Industry?
In recent years, there has been consistent growth in the manual car charger market. It is projected to rise from a value of $9.89 billion in 2024 to $10.15 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 2.7%. This growth during the historic period can be traced back to several factors such as rising rates of car ownership, advancements in the automotive sector, heightened attention to vehicle maintenance, swift urbanization, and an increase in public and private charging stations.
What Will Be the Size of the Manual Car Charger Market by 2029?
In the coming years, a consistent growth is anticipated in the manual car charger market. By 2029, it's projected to reach $11.43 billion with a Compound Annual Growth Rate (CAGR) of 3.0%. This projected growth during the forecast period can be credited to the surge in electric vehicles (EVs), escalating vehicle electrification, increasing fuel prices and operation costs, expansion of ride-sharing and fleet services, and growth of e-commerce and online sales platforms. Notable trends for the forecast period comprise advancements in battery technology, the growth of portable electronic products, progress in charging technology, digitalization and integration of Internet of Things (IoT), and the emergence of smart and interconnected charging solutions.
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What Are the Strategic Drivers Boosting Manual Car Charger Market Performance?
The upward trend in the demand for electric vehicles (EVs) is anticipated to stimulate the expansion of the manual car charger market in the future. Electric vehicles (EVs) are largely or completely powered by electric engines and batteries, a switch from the internal combustion engines that rely on fossil fuels. The growth in the demand for electric vehicles can be attributed to increased public awareness of environmental concerns, advances in battery technology, governmental incentives, and escalating fuel costs. Manual car chargers provide a convenient solution for EV owners to charge their vehicles at home or at public stations, simplifying the process of battery charging for everyday use and extended journeys. For example, the France-based International Energy Agency (IEA) reported in April 2023, that sales of electric vehicles saw a rise of 3.5 million in 2023 from 2022, marking a yearly increase of 35%. Hence, the escalating demand for electric vehicles (EVs) fuels the expansion of the manual car charger market.
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How Is the Manual Car Charger Market Segmented by Type, Application, and Region?
The manual car charger market covered in this report is segmented -
1) By Charging Type: On-Board Chargers, Off-Board Chargers
2) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)
3) By End-User: Residential, Commercial
Subsegments:
1) By On-Board Chargers: Standard On-Board Chargers, Fast On-Board Chargers
2) By Off-Board Chargers: Wall-Mounted Off-Board Chargers, Portable Off-Board Chargers
What Are the Key Trends Driving Growth in the Manual Car Charger Market?
Leading businesses in the manual car charger market are concentrating on the creation of unique products like controller chargers, in order to satisfy the increasing need for efficient and easy-to-use charging solutions. A smart charger, also known as a controlled battery charger, is produced to charge batteries while simultaneously managing the charging operation. For example, Schumacher Electric Corporation, a US manufacturer specializing in producing battery chargers, jump starters, and power inverters mainly for the automotive sector, in October 2023, unveiled a series of manual timer-controlled battery chargers and jump starters for car, SUV, truck, and boat batteries. These new offerings provide consumers total manual control over charging and jumps, starting with meticulous timers and charging mode selectors. They showcase a compact and portable design, also including wheeled options for effortless transport.
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Who Are the Leading Companies Driving Growth in the Manual Car Charger Market?
Major companies operating in the manual car charger market are Stanley Black & Decker Inc., Schumacher Electric Corporation, CTEK Sweden AB, Midtronics Inc., The NOCO Company, DEWALT, Associated Equipment, Clore Automotive, CRAFTSMAN, Battery Tender, DieHard, Motopower, Ampeak, Verilux, GOOLOO, Clarke, Vector, Foxsur, Foval, REHTRAD, TOPDON Incorporated
Which Is the Leading Region in the Global Manual Car Charger Market?
North America was the largest region in the manual car charger market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the manual car charger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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