Technological and Market Trends are Influencing the On-Board Charger Market

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On-Board Charger Market

Due to a sharp increase in the pollution levels in the past decade, numerous governments around the world are actively promoting the adoption of electric vehicles. The demand for EVs is further driven by stringent regulations pertaining to emissions, environmental degradation, and the impending requirement for energy efficient systems. In addition, global warming and escalating pollution levels are some of the alarming environmental concerns that have significantly encouraged the adoption of electric vehicles in the market. These EVs are equipped with technologically advanced batteries.

On-board charger (OBC), a crucial component in an electric vehicle that helps in managing the flow of energy from a grid to the battery inside the vehicle. These on-board chargers convert AC input generated by the power source and converts it into DC output for charging the battery of the vehicle. Owing to the need for high charging efficiency, good heat dissipation effect, and a high-power density, there is a surge in the demand for compact and lightweight OBCs.

Based on the market intelligence published by BIS Research titled “Global On-Board Charger Market — Analysis and Forecast, 2019–2029,” the on-board charger market, in terms of volume, accounted for 2,125.1 million units in 2018 and is expected to grow at a CAGR of 21.75%, during the forecast period 2019–2029. The market is projected to reach 22,464.7 million units by 2029.

The on-board charger market is influenced by various technological and market trends. The technological trends influencing the market growth are pertaining to the associated advancements in power modules and materials used for on-board chargers. The power modules include technologies such as metal-oxide-semiconductor field-effect transistor (MOSFET) and fin field-effect transistor (FinFET). Silicon carbide and gallium nitride are the advanced materials that are influencing the on-board charger market.

Along with these, there are certain market trends that are also impacting the global on-board charger market, which largely include changing dynamics of the market due to the increasing use of non-isolated DC to DC converters, SiC MOSFET transistors-based on-board chargers, SiC schottky barrier diodes (SBD)-based on-board chargers.

The report also comprises the scope of competition present in the market and the strategies that companies are inclined toward so as to sustain the competition. Strategies for further growth that are already in use by major market players include partnerships and collaborations, business expansions, product launches, and acquisitions of small-scale start-ups and emerging players. These companies present in the market either use these strategies independently or in collaboration to augment their presence in the market.

The global on-board charger market, though currently at an emergent phase, is also one of the most competitive industries, with leading players competing with each other so as to attain a stable hold over the pool of customers. Some of the leading players in the global on-board charger market are Delphi Technologies PLC, Nichicon Corporation, Toyota Motor Corporation, Delta Electronics Inc., and LG Chem Ltd. These companies are aiming for a wider range of product portfolio and collaborations in order to enhance the performance and quality of the EV on-board chargers.

Request for a Sample of the Report: https://bisresearch.com/requestsample?id=730&type=download

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BIS Research offers exclusive market intelligence reports on disruptive technologies. Each year we publish over 200 titles across industry verticals.

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