Global On Board Charger Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 6.31 Billion |
 Market Size (Forecast Year) |
USD 22.47 Billion |
 CAGR |
% |
| Major Markets Players |
Global On-Board Charger Market Segmentation, By Power Output (Less than 11 kW, 11 kW to 22 kW and More than 22 kW), Vehicle Type (Passenger Car, Buses, Vans, Medium and Heavy Duty Vehicles, Boats and Others), Propulsion Type (Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV)) - Industry Trends and Forecast to 2031.
On-Board Charger Market Analysis
The on-board charger (OBC) market is evolving rapidly due to technological advancements aimed at improving electric vehicle (EV) performance and charging efficiency. One of the latest methods is bi-directional charging, which enables vehicles to both draw power from and return power to the grid, boosting overall energy efficiency and creating new opportunities in vehicle-to-grid (V2G) applications. Silicon carbide (SiC) technology is increasingly being adopted in OBCs, allowing for higher energy efficiency, compact design, and reduced thermal management needs.
Another advancement is the integration of fast-charging capabilities, which reduces charging time and enhances user convenience. This is particularly important for boosting EV adoption, as range anxiety remains a concern. Wireless on-board chargers are also being developed to offer even more seamless charging experiences, although they are in the early stages of market penetration.
The global OBC market is expected to see robust growth as EV sales rise and governments push for greener transportation solutions. The continuous advancement in charger efficiency and performance will be pivotal in supporting this growth trajectory.
On-Board Charger Market Size
The global on-board charger market size was valued at USD 6.31 billion in 2023 and is projected to reach USD 22.47 billion by 2031, with a CAGR of 17.20% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
On-Board Charger Market Trends
“Growing Adoption of Electric Vehicles (EVs)”
One specific trend driving the on-board charger market's growth is the increasing adoption of electric vehicles (EVs) worldwide. As consumers shift towards eco-friendly transportation, demand for efficient and reliable on-board chargers has surged. These chargers, which allow EV batteries to be charged via standard AC power, are vital for home and public charging stations. The rise in sales of EV models such as Tesla’s Model 3 and Nissan’s Leaf has accelerated the need for advanced on-board chargers that support faster, more efficient charging times, further enhancing the market growth. For instance, in October 2024, KOSTAL Automobil Elektrik (KAE) unveiled its new production facility in Querétaro, Mexico, named KOSTAL Electro Mobility Mexicana (KEMM). This third plant in Querétaro will create 750 jobs and manufacture on-board chargers (OBC) for KOSTAL’s OEM clients in the USA, expanding its production capacity.
Report Scope and On-Board Charger Market Segmentation
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Attributes |
On-Board Charger Key Market Insights |
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Segments Covered |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
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Key Market Players |
BRUSA Elektroni (Switzerland), Bel Fuse Inc. (U.S.), Current Ways (U.S.), TOYOTA INDUSTRIES CORPORATION (Japan), innolectric AG (Switzerland), Eaton (U.S.), Cicero Design GmbH (Germany), Xepics Italia SRL (Italy), AVID Technology Limited (U.K.), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Hangzhou Aodi Electronic Control Co., Ltd. (China), ABB (Switzerland), Delta Energy Systems (Taiwan), Siemens (Germany), HYUNDAI CORPORATION (South Korea), Toshiba Infrastructure Systems & Solutions Corporation (Japan), Hitachi, Ltd. (Japan), and Ficosa Internacional SA (Spain) |
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Market Opportunities |
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Value Added Data Infosets |
In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis. |
On-Board Charger Market Definition
An on-board charger (OBC) is a key component in electric vehicles (EVs) responsible for converting alternating current (AC) from external charging stations into direct current (DC) to charge the vehicle's battery. It is integrated within the EV, allowing for convenient charging via standard AC outlets or public charging stations. OBCs manage the charging process by regulating voltage and current to ensure safe and efficient charging. They typically vary in power capacity, with more advanced systems offering faster charging rates. The OBC's efficiency directly affects the charging time, making it crucial for enhancing EV usability and convenience.
On-Board Charger Market Dynamics
Drivers
- Rise in Plug-in Hybrid Vehicles (PHEVs)
The increasing adoption of Plug-in Hybrid Electric Vehicles (PHEVs) is significantly driving the growth of the on-board charger (OBC) market. PHEVs rely heavily on OBCs to charge their batteries from AC power sources, making these systems crucial for efficient charging. As consumers seek vehicles that offer both electric and gasoline flexibility, automakers are responding by launching more PHEV models. For instance, in April 2023, Coulom Solution launched a 20 kW on-board charger designed for commercial vehicles, especially targeting the North American market. This charger reduces mass and eliminates extra high-voltage cabling, which lowers costs and enhances market competitiveness, aiming to penetrate the commercial vehicle charger industry.
- Vehicle-to-Grid (V2G) Integration
Vehicle-to-Grid (V2G) integration is a significant driver for the on-board charger (OBC) market as it allows electric vehicles (EVs) to return stored energy to the grid. This bidirectional charging capability enables EV owners to not only charge their vehicles but also support the grid during peak demand, offering a new revenue stream. Automakers are now incorporating OBCs with V2G functionality to meet this growing demand. For instance, Nissan’s LEAF model is equipped with V2G-capable chargers, enabling energy transfer from the car back to the grid. This trend is driving the demand for advanced OBC systems that support bidirectional charging.
Opportunities
- Advancements in Battery Technology
Innovations in battery technology, particularly in terms of energy density and charging efficiency, are driving the demand for high-power, fast-charging on-board chargers (OBCs). As EV batteries become capable of storing more energy and charging faster, OBCs need to keep pace with these advancements. This creates significant opportunities for manufacturers to develop OBCs with higher power ratings and improved thermal management. For instance, in March 2024, Ford introduced dual on-board chargers in its E-Transit electric commercial van, supporting 176 kW charging. This new feature allows the vehicle to charge from 0% to 100% in six hours and eleven minutes using the Ford Pro Series 2 80A charging station, enhancing charging efficiency for fleet operations.
- Expansion of Charging Infrastructure
The rapid expansion of public and home charging infrastructure creates significant opportunities in the on-board charger (OBC) market. As more charging points emerge globally, the demand for advanced OBCs that support fast and flexible charging grows. For instance, fast-charging stations with higher power outputs require OBCs capable of handling increased power levels efficiently, driving innovation in OBC technology. Moreover, home chargers are becoming smarter, integrating with home energy systems, prompting manufacturers to design adaptable OBCs for seamless home charging. This expansion offers a lucrative opportunity for OBC developers to cater to the growing needs of electric vehicle owners and charging providers.
Restraints/Challenges
- High Production Costs
High production costs are a significant restraint for the on-board charger market. The manufacturing of these chargers involves complex components such as advanced power conversion systems and thermal management solutions. The high cost of these specialized parts, along with the need for precise engineering, results in expensive production processes. This complexity not only increases the overall cost of on-board chargers but also affects their affordability, particularly in price-sensitive markets. As a result, the high production costs can limit the widespread adoption of on-board chargers, hindering market growth and slowing the penetration of these essential components into more economical segments.
- Thermal Management Issue
Managing heat dissipation in high-power on-board chargers poses significant technical challenges. As these chargers convert high amounts of electrical energy, they generate substantial heat, which must be effectively managed to ensure performance and safety. This requires sophisticated cooling systems, such as advanced heat sinks or liquid cooling solutions, which complicate the design and increase production costs. The need for these advanced cooling technologies not only raises the overall cost of the chargers but also adds to the complexity of their integration into vehicles. Consequently, these thermal management issues hinder the market by driving up prices and extending development timelines.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
On-Board Charger Market Scope
The market is segmented on the basis of power output, vehicle type and propulsion type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Power Output
- Less than 11 kW
- 11 kW to 22 kW
- More than 22 kW
Vehicle Type
- Passenger Car
- Buses
- Vans
- Medium and Heavy Duty Vehicles
- Boats
- Others
Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
On-Board Charger Market Regional Analysis
The market is analysed and market size insights and trends are provided by power output, vehicle type and propulsion type as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to witness lucrative growth in the on-board charger market, driven by the expanding automotive sector, increased government initiatives promoting electric vehicle sales in China and India, and the rapidly growing railway network. This dynamic growth positions the region to register the highest CAGR during the forecast period.
North America is expected to dominate the on-board charger market, driven by a robust rail network and significant research and development activities. The region's strong infrastructure and innovation focus will likely sustain its market leadership throughout the forecast period, supporting ongoing advancements and growth in on-board charging technologies.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
On-Board Charger Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
On-Board Charger Market Leaders Operating in the Market Are:
- BRUSA Elektroni (Switzerland)
- Bel Fuse Inc. (U.S.)
- Current Ways (U.S.)
- TOYOTA INDUSTRIES CORPORATION (Japan)
- innolectric AG (Switzerland)
- Eaton (U.S.)
- Cicero Design GmbH (Germany)
- Xepics Italia SRL (Italy)
- AVID Technology Limited (U.K.)
- Infineon Technologies AG (Germany)
- STMicroelectronics (Switzerland)
- Hangzhou Aodi Electronic Control Co., Ltd. (China)
- ABB (Switzerland)
- Delta Energy Systems (Taiwan)
- Siemens (Germany)
- HYUNDAI CORPORATION (South Korea)
- Toshiba Infrastructure Systems & Solutions Corporation (Japan)
- Hitachi, Ltd. (Japan)
- Ficosa Internacional SA (Spain)
Latest Developments in On-Board Charger Market
- In March 2024, VMAX selected Infineon Technologies AG’s CoolSiC hybrid discrete components, including the TRENCHSTOP 5 Fast-Switching IGBT and CoolSiC Schottky Diode, for its 6.6 kW on-board chargers. Infineon’s D²PAK package combines ultra-fast IGBTs with SiC diodes, optimizing performance and power density for VMAX’s next-generation OBC/DCDC chargers
- In November 2023, BorgWarner signed a deal with a major North American OEM to supply its bi-directional 800V onboard charger (OBC) for premium BEV platforms. Featuring silicon carbide (SiC) power switches, this technology boosts efficiency, power density, and safety, with production starting in January 2027
- In July 2023, Stellantis, in collaboration with Saft and the French National Center for Scientific Research, developed an electric vehicle charging solution that omits inverters and on-board chargers. This innovation reduces vehicle weight and improves efficiency, posing a challenge to the traditional on-board charger market by introducing alternative technologies
- In April 2022, Faraday Future Intelligent Electric Inc. partnered with Meta System to supply onboard power management modules for the FF 91 EV and upcoming FF 81 vehicles. Meta System’s charger offers 15.2 kW AC charging capability, enhancing the FF 91’s and FF 81’s charging performance and efficiency
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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