Press release
Top Players and Competitive Dynamics in the On-Board Charger Market
On-Board Charger Market
On-Board Charger Market Size Forecast and Growth Outlook
The on-board charger market is projected to grow swiftly, reaching a valuation of $13.23 billion by 2030. This represents a robust compound annual growth rate (CAGR) of 17.6%. The surge is largely driven by increased penetration of electric vehicles, the emergence of ultra-fast charging technologies, integration with renewable energy sources, widespread adoption in fleet and commercial EVs, and improvements in energy management systems and grid interactions. Key trends influencing market expansion include the development of highly efficient on-board chargers, smart charging integration, growth in EV charging infrastructure, implementation of AC/DC fast chargers, and the rise of IoT-enabled charging solutions.
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Prominent Players Leading the On-Board Charger Industry
Several top companies dominate the on-board charger market landscape, including Delta Energy Systems Corp., Toyota Motor Corporation, Eaton Corporation, STMicroelectronics NV, Stercom Power Solutions GmbH, BorgWarner Inc., LG Electronics Ltd., BYD Co. Ltd., Tesla Corp., Bel Fuse Inc., BRUSA Elektronik AG, Siemens AG, Innolectric AG, Yazaki Corporation, Aptiv Global Operations Limited, HyundAI Mobis Co. Ltd., Mitsubishi Electric Corporation, Infineon Technologies AG, Hangzhou Aodi Electronic Control Co. Ltd., Leopold Kostal GmbH Co., Dilong Technology Co. Ltd., and Schneider Electric SE.
Strategic Acquisition Strengthens BorgWarner's Position in On-Board Chargers
In June 2023, BorgWarner Inc., a US-based supplier specializing in automotive propulsion and power electronics, acquired Eldor Corporation's electric hybrid systems division for €75 million (around US $80 million). This acquisition bolsters BorgWarner's portfolio in EV on-board chargers and high-voltage power electronics by incorporating compact 400 V and 800 V charging systems. Eldor Corporation, based in Italy, is known for manufacturing on-board chargers, DC/DC converters, and integrated high-voltage power electronics, enabling BorgWarner to enhance its technological offerings in this space.
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Innovative Product Developments Creating New Opportunities in On-Board Charging
Leading companies in the market are focusing on advanced product development to maintain their competitive edge. One notable innovation is the introduction of high-tech 20 kW on-board chargers designed specifically for commercial electric vehicles. These chargers deliver full power output using a single-phase input and support potential bi-directional charging capabilities. For example, in April 2023, Coulomb Solutions Inc. (CSI), a US-based electrification solutions provider, launched a 20 kW on-board charger tailored for commercial EVs. This cutting-edge charger stands out by operating efficiently on single-phase input-a contrast to the three-phase systems common in Europe and China-while offering cost advantages by minimizing the need for multiple units, reducing high-voltage cabling, and lowering overall system weight and size.
On-Board Charger Market Segments and Leading Categories
This market is divided into segments based on power output, sales channels, and vehicle types. The power output categories include below 7.2 kW, 7.2 kW-15 kW, and above 15 kW chargers. Sales channels are split between Original Equipment Manufacturer (OEM) and aftermarket. Vehicle types covered are Battery Electric Vehicles (BEV) and Plug-in Hybrid Electric Vehicles (PHEV). More specifically, below 7.2 kW chargers include AC chargers for low-power EVs and Level 1 chargers (120V). Chargers between 7.2 kW and 15 kW comprise AC chargers for mid-range EVs and Level 2 chargers (240V). Models above 15 kW consist of high-power chargers designed for larger EVs, including DC fast charging capable Level 3 chargers.
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