On-board Charger Sales Market Outlook

The global on-board charger sales market is projected to reach USD 11.5 billion by 2035, growing at a compound annual growth rate (CAGR) of 19.2% from 2025 to 2035. This significant growth can be attributed to the rising demand for electric vehicles (EVs) attributed to increasing environmental concerns and government regulations aimed at reducing carbon emissions. The ongoing advancements in technology and infrastructure for EV charging systems are further driving the adoption of on-board chargers. Additionally, the growing consumer preference for energy-efficient vehicles is contributing to the increasing investments in electric mobility solutions, thus propelling market growth. The transition towards renewable energy sources and the establishment of supportive policies by different governments are also anticipated to bolster the on-board charger sales market.

Growth Factor of the Market

The growth of the on-board charger sales market is primarily fueled by several key factors. Firstly, the rising penetration of electric vehicles, driven by both consumer preference and stringent emission regulations, is a crucial contributor. Governments worldwide are promoting electric mobility through various incentives such as tax credits, subsidies, and grants, further encouraging the adoption of EVs. Secondly, the advancements in battery technology, such as the development of high-capacity lithium-ion batteries, have enhanced the performance and efficiency of electric vehicles, thereby increasing demand for efficient on-board chargers. Additionally, the expansion of charging infrastructure and the introduction of smart charging systems are making it easier for consumers to charge their EVs, thereby driving the market forward. Furthermore, as consumers become more environmentally conscious, the shift towards sustainable and clean energy solutions is gaining momentum, which in turn is propelling the demand for on-board chargers. Lastly, the increasing trend of electrification in various vehicle segments, including commercial vehicles and public transport systems, is expected to further enhance the market potential for on-board chargers.

Key Highlights of the Market

• The global on-board charger sales market is anticipated to grow significantly, reaching USD 11.5 billion by 2035.
• AC on-board chargers are expected to dominate the product type segment due to their cost-effectiveness and widespread adoption.
• Battery electric vehicles are projected to hold the largest share in the application segment, reflecting the growing preference for zero-emission vehicles.
• The OEM distribution channel is likely to witness substantial growth, driven by partnerships between automotive manufacturers and charging solution providers.
• North America is expected to be the leading region in the on-board charger market, with a strong CAGR of 20.5% due to supportive government policies and a growing EV market.

By Product Type

AC On-board Charger:

AC on-board chargers are expected to remain the most widely used type of charger in the on-board charger sales market. These chargers are known for their cost-effectiveness and are typically used in residential and public charging stations. Their ability to connect to standard AC power sources makes them convenient and accessible to a broad range of consumers. AC chargers come in various power ratings, allowing them to meet diverse charging needs, from slow charging at home to faster charging at public stations. As EV adoption continues to rise, the demand for AC on-board chargers will likely increase, further solidifying their position in the market.

DC On-board Charger:

DC on-board chargers are gaining traction in the market due to their ability to provide rapid charging solutions for electric vehicles. These chargers convert AC to DC within the vehicle, allowing for faster charging times compared to traditional AC chargers. As consumers and fleet operators seek quicker charging solutions, the demand for DC on-board chargers is expected to rise significantly. This type of charger is particularly beneficial for commercial vehicles and public transport systems, where minimizing downtime is crucial for operational efficiency. The increasing installation of DC fast charging stations is also expected to boost the adoption of DC on-board chargers in the coming years.

Bi-directional On-board Charger:

Bi-directional on-board chargers are a relatively new addition to the market, offering the unique capability of allowing energy to flow both to and from the vehicle's battery. This technology is particularly advantageous for vehicle-to-grid (V2G) applications, enabling EV owners to sell excess power back to the grid. As energy storage solutions become increasingly important for managing renewable energy sources, the demand for bi-directional chargers is expected to grow significantly. This market segment is likely to attract attention from both consumers and utility companies since it promotes energy efficiency and sustainability, making it a key area of focus for future technological advancements.

Wireless On-board Charger:

Wireless on-board chargers represent an innovative charging solution that eliminates the need for physical connectors, providing a seamless charging experience for electric vehicle users. This technology utilizes inductive charging, where energy is transferred between two coils without direct contact. As convenience becomes a critical factor for consumers, wireless charging systems are gaining popularity. While the technology is still in its nascent stages and requires further development to become mainstream, the potential for reducing wear and tear on charging ports and enhancing user experience may drive future growth in this segment. Manufacturers are investing in R&D to improve the efficiency and affordability of wireless on-board chargers, which could lead to wider adoption in the years to come.

Portable On-board Charger:

Portable on-board chargers are designed to offer flexibility for EV owners, allowing them to charge their vehicles on the go. These chargers are lightweight and compact, making them easy to transport and use in various situations, such as during road trips or at locations lacking fixed charging infrastructure. The growing trend of mobility and the increasing number of EV users in urban environments are expected to drive the demand for portable on-board chargers. As technology advances, manufacturers are likely to introduce more efficient and user-friendly portable charging solutions, further enhancing their appeal to consumers who value convenience and adaptability in their charging options.

By Application

Battery Electric Vehicles:

Battery electric vehicles (BEVs) are the cornerstone of the electric vehicle market, relying solely on electric power for propulsion. The demand for on-board chargers in this application is expected to grow significantly due to the increasing adoption of BEVs, driven by environmental concerns and government incentives. With advancements in battery technology leading to longer ranges and shorter charging times, consumers are becoming more inclined to choose BEVs over traditional vehicles. This trend is expected to bolster the need for efficient and advanced on-board charging solutions that can keep pace with the growth in BEV sales.

Plug-in Hybrid Electric Vehicles:

Plug-in hybrid electric vehicles (PHEVs) blend traditional internal combustion engines with electric propulsion, offering consumers the flexibility to switch between gasoline and electric power. The growth of this segment will also drive the demand for on-board chargers, as they require specialized charging systems to optimize battery performance. PHEVs appeal to a broad audience, particularly among consumers who are transitioning to electric mobility but still desire the reassurance of conventional refueling options. As automakers continue to innovate and enhance the efficiency of PHEVs, the on-board charger market will benefit from this expanding application.

Hybrid Electric Vehicles:

Hybrid electric vehicles (HEVs) combine an internal combustion engine and an electric motor, but unlike BEVs and PHEVs, they do not require external charging. However, the on-board charger market may still see growth in this segment due to the increased focus on improving vehicle efficiency. Manufacturers are integrating more efficient on-board chargers to enhance the battery's performance and prolong its lifespan. The increasing popularity of HEVs, particularly in markets where charging infrastructure is still developing, presents a considerable opportunity for on-board charger manufacturers to provide innovative solutions that can meet the unique needs of this vehicle type.

Electric Buses:

Electric buses are gaining traction in public transportation systems worldwide as cities seek to reduce pollution and enhance sustainability. The demand for on-board chargers in this application is expected to grow significantly as municipalities and transit authorities invest in electric mobility solutions. On-board chargers for electric buses must be capable of handling large battery capacities and facilitating rapid charging to minimize downtime. As government funding and incentives for electric public transport systems increase, the on-board charger sales market is poised to benefit from the expansion of electric bus fleets globally.

Electric Trucks:

The electric truck segment is witnessing a substantial rise as logistics companies and freight carriers look for sustainable alternatives to traditional diesel-powered vehicles. On-board chargers play a vital role in enhancing the viability of electric trucks by ensuring efficient charging solutions for high-capacity batteries. As the demand for sustainable logistics solutions continues to increase, manufacturers are focusing on developing robust on-board charging systems that can support the unique requirements of commercial electric trucks. The growth of e-commerce and the demand for sustainable transportation options will likely drive the expansion of the on-board charger sales market within this application.

By Distribution Channel

OEMs:

The OEM distribution channel is projected to dominate the on-board charger sales market, primarily due to the increasing collaborations between automotive manufacturers and charging solution providers. OEMs play a crucial role in integrating on-board chargers into electric vehicles during the manufacturing process. As more automakers prioritize electric mobility, they are investing in the development of efficient and advanced charging systems, leading to an increased market share for on-board chargers. The OEM channel also enables manufacturers to establish brand loyalty, as consumers often prefer to use chargers that are compatible with their vehicle models, further solidifying the position of OEMs in the on-board charger market.

Aftermarket:

The aftermarket distribution channel is also expected to witness significant growth, driven by the increasing number of electric and hybrid vehicles on the road. As consumers become more aware of the importance of efficient charging solutions, many are seeking to upgrade their existing on-board chargers or install additional charging systems to meet their specific needs. This trend is particularly prevalent in regions with limited charging infrastructure, prompting consumers to invest in portable charging solutions or aftermarket on-board chargers. The aftermarket segment is likely to flourish as manufacturers focus on providing innovative and customizable charging solutions tailored to the diverse requirements of electric vehicle owners.

By Charging Type

Level 1:

Level 1 charging is the most basic form of electric vehicle charging, using a standard household outlet to charge the vehicle's battery. This type of charging is widely accessible and requires minimal installation, making it an attractive option for homeowners with electric vehicles. However, Level 1 charging is slow, typically delivering around 4-5 miles of range per hour. Despite its limitations, the demand for Level 1 charging solutions continues to persist, primarily due to the growing number of urban users who can charge their vehicles overnight at home. As more consumers embrace electric mobility, Level 1 on-board chargers are expected to maintain a steady presence in the market.

Level 2:

Level 2 charging is becoming increasingly popular for home and public charging stations, as it offers significantly faster charging times compared to Level 1. With the ability to deliver approximately 25 miles of range per hour, Level 2 chargers are suitable for most electric vehicle owners who require efficient charging solutions. The rising demand for faster charging options, coupled with the expansion of charging infrastructure, is expected to drive the growth of Level 2 on-board chargers. Moreover, as workplaces and public spaces continue to install Level 2 chargers, the market for these on-board chargers is poised for substantial growth in the coming years.

DC Fast Charging:

DC fast charging is rapidly gaining traction in the on-board charger sales market due to its ability to provide rapid charging solutions for electric vehicles. This charging type delivers high power directly to the vehicle's battery, allowing for charging times as short as 30 minutes, which is particularly attractive for commercial fleets and long-distance travelers. The increasing installation of DC fast charging stations across urban centers and along highways is expected to drive the demand for DC fast on-board chargers significantly. As the need for efficient and fast charging solutions grows, the market for DC fast chargers is anticipated to expand dramatically in the coming years, attracting both consumers and commercial stakeholders alike.

By Vehicle Type

Passenger Cars:

Passenger cars represent the largest segment in the on-board charger sales market, driven by the increasing consumer shift towards electric mobility. As more consumers opt for electric vehicles as a viable alternative to traditional gasoline-powered cars, the demand for efficient on-board chargers is expected to rise correspondingly. The growing popularity of BEVs and PHEVs among consumers is fueling the need for advanced charging solutions that can ensure optimal battery performance. Manufacturers are focusing on enhancing the compatibility and efficiency of on-board chargers for passenger vehicles, thereby driving growth in this segment.

Commercial Vehicles:

Commercial vehicles are increasingly adopting electric drivetrains as logistics companies seek to reduce operating costs and comply with stringent emissions regulations. The demand for on-board chargers in this segment is expected to rise significantly, particularly as fleet operators invest in electric trucks and vans to efficiently meet the needs of their businesses. On-board charging solutions must be robust and capable of handling high-capacity batteries, which makes this segment particularly appealing for manufacturers. The ongoing electrification of commercial fleets and the shift towards sustainable logistics are likely to drive the growth of the on-board charger sales market in the commercial vehicle segment.

By Region

North America is anticipated to be the leading region in the on-board charger sales market, driven by the rapid expansion of electric vehicle adoption and supportive government policies aimed at promoting electric mobility. The region is expected to account for approximately 35% of the global market share, with a notable CAGR of 20.5% during the forecast period. The increasing investment in charging infrastructure, coupled with rising consumer awareness of electric vehicles, is further facilitating the growth of the on-board charger market. Major automotive manufacturers in North America are also contributing to the market's expansion by introducing innovative electric vehicles equipped with advanced on-board charging solutions.

Europe is also set to witness significant growth in the on-board charger sales market, fueled by stringent emissions regulations and ambitious sustainability targets set by governments. The European market is expected to account for around 30% of the global share, driven by the increasing focus on electric mobility and the rapid electrification of public transport systems. The growing number of charging stations and the rise of smart grid technologies are expected to enhance the market for on-board chargers in Europe. Furthermore, as EU member states ramp up efforts to reduce carbon emissions, the demand for efficient on-board charging solutions will continue to increase, paving the way for substantial growth opportunities in the region.

Opportunities

The on-board charger sales market presents numerous opportunities for manufacturers and stakeholders, particularly in the face of increasing electrification trends across various vehicle segments. One promising opportunity lies in the advancement of bi-directional charging technology, which allows electric vehicles to interact with the grid, enabling vehicle-to-grid (V2G) applications. This technology can provide significant benefits, such as energy storage solutions and demand response capabilities, making electric vehicles valuable assets for both consumers and utility companies. As more consumers adopt electric vehicles, the development and commercialization of bi-directional on-board chargers can create new revenue streams for manufacturers while enhancing grid stability and sustainability. Additionally, as urban infrastructure continues to evolve, there is a growing demand for smart charging stations that can optimize energy usage based on real-time data, further expanding market opportunities.

Another significant opportunity in the on-board charger sales market arises from the increasing investments in charging infrastructure globally. Governments and private entities are focusing on establishing extensive charging networks to support the growing electric vehicle market. As the need for efficient and accessible charging solutions increases, the demand for innovative on-board chargers that can accommodate various charging types and vehicle models will rise. Furthermore, the emergence of electric mobility services, such as ride-sharing and electric taxis, presents an opportunity for manufacturers to position their products strategically within this evolving market. Developing on-board charging solutions that cater to the specific needs of commercial fleets and new mobility services can enhance market presence and profitability for manufacturers in the coming years.

Threats

While the on-board charger sales market is poised for substantial growth, several threats could impact its development. One significant threat comes from the rapidly evolving technological landscape, where manufacturers must continuously innovate to meet changing consumer preferences and regulatory requirements. The introduction of new charging technologies, such as ultra-fast charging and wireless charging, may render existing on-board chargers obsolete if manufacturers fail to keep pace with advancements. Additionally, the competitive landscape is becoming increasingly crowded, with numerous established players and new entrants vying for market share. This intense competition could lead to price wars, impacting profitability and market sustainability for manufacturers. Lastly, fluctuations in raw material prices, particularly for key components like semiconductors and batteries, can pose challenges to production costs and overall market viability.

Another restraining factor for the on-board charger sales market is the lack of standardized charging solutions across different regions and vehicle models. The absence of universal charging standards can create confusion and inconvenience for consumers, potentially hindering the adoption of electric vehicles. Furthermore, the limited availability of charging infrastructure in certain areas, particularly in developing nations, can restrict market growth and consumer adoption rates. Manufacturers must address these challenges by collaborating with stakeholders to establish standardized solutions and invest in the expansion of charging networks. By focusing on creating a unified charging ecosystem, manufacturers can enhance the overall user experience and drive market growth effectively.

Competitor Outlook

• ABB Ltd.
• Siemens AG
• Schneider Electric SE
• Delta Electronics, Inc.
• Webasto SE
• Electrify America, LLC
• Siemens Mobility
• ChargerHelp!
• ChargePoint, Inc.
• Blink Charging Co.
• Leviton Manufacturing Co., Inc.
• Wallbox N.V.
• Panasonic Corporation
• Bosch Mobility Solutions
• EVBox B.V.

The competitive landscape of the on-board charger sales market is marked by the presence of both well-established corporations and innovative startups striving to capture market share. Major companies, such as ABB Ltd. and Siemens AG, are investing heavily in research and development to create advanced charging technologies that enhance the efficiency and effectiveness of their on-board chargers. These companies are leveraging their expertise in energy management and automation solutions to develop chargers that cater to various vehicle types and applications. Moreover, strategic partnerships with automotive manufacturers and collaboration with utility providers have become common strategies for these companies to establish a foothold in the evolving electric mobility landscape. Their established reputation and extensive product portfolios position them well to meet the burgeoning demand for on-board chargers globally.

In addition to the major players, numerous startups and niche companies are emerging in the on-board charger sales market, focusing on innovative solutions and unique product offerings. For instance, companies like ChargePoint, Inc. and Blink Charging Co. are developing user-friendly charging infrastructure and services tailored to enhance the consumer experience. These organizations are capitalizing on the growing trend of electric mobility services, such as ride-sharing and car rentals, by offering tailored charging solutions that cater to specific customer needs. As a result, the competitive landscape is becoming increasingly dynamic, with new entrants continuously challenging established players and driving innovation within the market.

Leading companies in the on-board charger sales market are adopting various strategies to maintain their competitive edge. For example, Delta Electronics, Inc. is focusing on expanding its product offerings while investing in cutting-edge technology to ensure its chargers meet the diverse needs of consumers. Meanwhile, Webasto SE is emphasizing sustainable solutions and exploring opportunities in renewable energy integration to enhance its market presence. The shift towards electric mobility has prompted major players to align their product development strategies with sustainability goals, ensuring they remain relevant in a rapidly changing market. As the demand for electric vehicles continues to grow, these companies' ability to innovate will play a pivotal role in shaping the future of the on-board charger sales market.