Electric Vehicle On-Board Charger Market Size, Share & Industry Analysis, By Propulsion Type (BEV and PHEV), By Power Output (<20kW and >20kW), By Vehicle Type (Passenger Car and Commercial Vehicle), and Regional Forecast, 2025-2032

The global electric vehicle on-board charger market size was valued at USD 5.48 billion in 2024. The market is projected to grow from USD 6.93 billion in 2025 to USD 22.89 billion by 2032, exhibiting a CAGR of 18.6% during the forecast period. Asia Pacific dominated the global market with a share of 61.31% in 2024.

An electric vehicle on-board charger is a crucial component that serves the primary purpose of converting alternating current (AC) from an external power source, typically a charging station or outlet, into direct current (DC) to charge the vehicle's battery pack. It acts as the interface between the external power supply and the vehicle's energy storage system. The charger includes power electronic components such as diodes, transistors, capacitors, and inductors to manage the conversion process efficiently. These components regulate the flow of electricity, adjust voltage levels, and maintain optimal charging conditions. The market growth is attributed to the increasing environmental concerns, declining battery costs, government incentives, and expanding charging infrastructure.

During the COVID-19 pandemic, the global EV sales reached a record of 3.66 million units. Europe registered 1.4 million EVs sales in 2020, representing a 137% increase compared to 2019. This surge was huge for a market that experienced a 20% year on year decline. Besides, Europe surpassed China in the EV market for the first time since 2015.

Market Trends

Technological Advancements in V2G for future Electric Vehicles to Set a Positive Trend for Market Growth

Automobile manufacturers are increasingly focusing on and investing in design and development of electric vehicles, a trend that is also shaping the mobility & freight transportation industry. Therefore, the electric vehicle on-board charger market will increase proportionally with the growth of the EV market. Currently, most EVs are equipped with unidirectional battery charging systems, also some use off-board chargers. The recent surge of EV investments by the transport sector demonstrates a shift toward advanced charging technologies including wireless, bi-directional and fast chargers.

An effortless process of integrating the EVs batteries charging system with the power grid is known as the Grid-to-Vehicle (G2V) concept. The distinctive feature of V2G (Vehicle-to-Grid) technology is its requirement for bidirectional power flow capability and communication with Smart Grids. Furthermore, numerous EV and EV charging manufacturers have started pursuing two-way charging solutions. For instance, in August 2017, Hyundai Mobis announced the development of a two-way on-board charger (V2G) for future EVs and plug-in hybrid vehicles (PHEVs) with verified safety performance. Thus, the advancements in battery charging technology will create lucrative opportunities for market expansion during the forecast period.

Rising Need for On-Demand Portable Charging Solutions is a Latest Market Trend

Wireless charging is already available for mobiles and is also being adapted for electric vehicles. The vehicle’s battery can be recharged wirelessly by parking the vehicle over the ground-based charger. This system mirrors the operation of wireless phone chargers but on a much larger scale. However, it must be robust and safe, as the amount of energy transferred in these systems is much more than that of phone chargers.

One of the main concerns for consumers buying an EV is range anxiety-the fear of running out of battery without access to a nearby charging station. Charging equipment manufacturers are developing portable charging solutions such as similar to smartphones power banks.

SparkCharge, a startup, has been developing a portable and ultrafast charging unit that can be requested on-demand via a mobile app, providing charging services anytime, anywhere.

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Market Drivers

Surge in Electric Vehicles Sales to Propel Market Growth

Electric Vehicle sales have increased by 10% in 2024 compared to 2023, with China emerging as the world’s leading EV hub, holding the maximum electric vehicle on board charger market share. Advances in battery technology, particularly in lithium-ion batteries, have significantly improved the performance, range, and affordability of electric vehicles. The steady decline in battery costs over the past decade has made electric vehicles more cost-competitive with conventional internal combustion engine vehicles. Thus, technological advancement in EV batteries are driving demand and contributing to the electric vehicle on-board charger market growth market growth.

Market Restraints

Increased Installation of DC Fast Chargers May Hamper the Growth of the Market

While DC fast charging offers quick charging capabilities, it has its own set of limitations. DC fast charging is more expensive to install and operate. The high power flows from these chargers put extra strain on electric vehicles’ batteries. Thus, EVs require a properly designed Battery Management Service (BMS) to manage the charging process. Without an effective BMS, frequent use of DC fast chargers could reduce the battery’s efficiency and lifespan. However, recent technological advancements in DC fast chargers aim to eliminate these limitations, potentially reducing the dependency of EVs on on-board chargers, which may hamper the market growth for on-board chargers.

Lack of standardization of EV Charging

One major factor challenging the growth of the global electric vehicle on-board charger market is the inadequacy of charging points in most developing regions. Lack of charging infrastructure at regular intervals creates problem for an electric vehicle owners. Moreover, the availability of supportive infrastructure in developing countries is less. The lack of a dedicated parking spot in rural areas makes it difficult to charge an electric car at home which hinders the product adoption. Furthermore, the lack of standardized charging ports for fast charging, especially those that can charge vehicles in 30 minutes or less, compounds the issue. The different charging stations' prices further hinder the global electric vehicle on-board charger market growth.

OPPORTUNITY

Use of Wireless Power & Portable Charging Units will boost the technological developments in the charging infrastructure of EV

Wireless charging is already available for mobiles and is also applicable to electric vehicles. The vehicle’s battery can be recharged wirelessly by parking the car on the spot with a charger on the ground. It reciprocates the charging operation of wireless phone chargers but on a bigger scale.

However, it must be robust and safe as the amount of energy reciprocated in these wireless systems is much more than a wireless cell phone charger. ELIX, a startup based in Canada, has successfully developed a wireless charging technology for EVs, which offers a charging system that charges your car while it is parked.

One of the main concerns for consumers buying an EV is range anxiety, which is the fear of running out of battery and not finding a charging station close enough. Charging equipment manufacturers are developing power banks for cars, as the one used to charge smartphones can be ordered from a mobile app.

However, the manufacturers are focusing on developing vehicle charging systems. For Instance, in October 2024, Tesla announced it had recently teased that it may be introducing a wireless charging system for its EVs in the coming years and had even filed a patent for the technology. Tesla is moving towards wireless EV charging with a new patent aimed at enhancing the efficiency and safety of these systems. The technology was recently showcased with the launch of the Robotaxi.

Segmentation Analysis

By Propulsion Type

Rising Adoption of Battery Electric Vehicle Drives the Market Growth

The electric vehicle on-board charger market is segmented into BEV (Battery Electric Vehicle) and PHEV (Plug-in Electric Vehicle), based on propulsion type.

BEV holds the largest market share globally and is expected to retain their leading position in the electric vehicle on-board charger market throughout the forecast period. Both BEVs and PHEVs are equipped with an electric motor that is recharged via an external plug. However, the key operational difference is that BEVs are powered entirely by electricity, while PHEVs are supported by battery-powered motors and a fuel tank.

As PHEVs include an IC Engine, there is less space available for batteries, which results in a small battery size. This limitation reduces the vehicle's travel range and speed than BEVs. In contrary, BEVs have a large battery capacity, offering greater travel range coupled with higher energy storage. BEVs are favored over PHEVs due to the increasing charging infrastructure and government support, which predominantly favors BEV adoption. This trend drives consumers' preference for BEVs over PHEVs, making the BEV segment dominating the segment.

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By Vehicle Type

Passenger Vehicles to Hold Maximum Market Share Due to Increasing Demand for PEVs

This market can be segmented into passenger cars and commercial vehicles, based on vehicle type.

The passenger car segment dominated the global electric vehicle on-board charger market in 2024. Key factors driving this growth are rapid urbanization leading to a growing demand for economic transport mediums such as electric cars. Electric cars are economic and have minimal impact on the environment compared to IC vehicles. Therefore, governments in major economies, including the U.S., China, and India, are promoting the adoption of such vehicles. This government support and growing consumer interest in EV technology is expected to drive the demand for EVs in the coming years. As the EV on-board charger market is directly linked to the growth of EV market, the increase in EV adoption will naturally drive demand for on board charger in the coming years.

Although there are very few options available from the EV ecosystem in the commercial segment, the future looks promising as major players introduce new products. However, the path to commercial EV adoption is tougher than passenger cars as commercial vehicles need more power and higher maintenance. Nevertheless, demand for commercial EV on-board chargers will increase as more commercial EV models become available over the forecast period.

By Power Output

The >20 kW Charging Segment To Grow Significantly Due To Higher Power Capacity

The market is classified into <20 kW and >20kW, based on power output.

Vehicle on-board chargers convert power from AC to DC and then deliver it to the vehicle’s battery. AC is the most common charging method for electric vehicles, as power from the grid is typically AC. It takes about eight to nine hours to fully recharge an EV’s battery with a Level-1 AC charger. Level-2 and Level-3 chargers are faster, as they use higher power capacity. Chargers are categorized by the amount of kW output they provide. Each kWh (KiloWatt Hour) received by the battery translates to a driving range of about 6.5 km.

With the rise of connected and autonomous EVs, vehicle architecture is becoming more complex, requiring OBCs with higher power capacities for charging. Currently, OBCs with power outputs of less than 20kW are more commonly used. However, as consumer demand for fast charging increases, OBCs with power capacities more than 20kW, will exhibit a greater CAGR during the forecast period.

ELECTRIC VEHICLE ON-BOARD CHARGER MARKET REGIONAL OUTLOOK

Geographically, the market is categorized into Europe, North America, the Asia Pacific, and the rest of the world.

Asia Pacific

Asia Pacific Automotive Amplifier Market Size, 2023 (USD Billion)

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The Asia Pacific EV on-board charger market was valued at USD 3.36 billion in 2024. The increasing urban populations in China and India contribute to environmental pollution through greenhouse gas emissions from vehicles and industries. In response, governments are promoting clean fuel-powered vehicles, especially the EV, through various favorable initiatives and incentives. Furthermore, high urbanization and the rise of smart cities are expected to drive EV growth, accelerating the development of this region's electric vehicle on-board charger market.

Europe

Stringent emission regulations, supportive government policies, increasing vehicle electrification, and availability of required charging infrastructure are key drivers boosting the adoption of EVs in the European market. Countries such as Norway, Sweden, Denmark, Germany, and the U.K. are leading the electric vehicle revolution. The presence of leading EV manufacturers further creates attractive growth opportunities for the EV on-board chargers in the region.

North America

North America is one of the leading regions supporting EV adoption. Companies such as Tesla have captured the major market share in the region by launching innovative and affordable BEV models such as the Tesla Model X. Tesla has built a network of charging infrastructure in the region, which has further boosted the adoption of EVs. Technological advancements, availability of infrastructure, and product innovation are key drivers of electric vehicle on-board charger market growth in the region.

Rest of the World

The Rest of the World comprises regions such as Latin America and Middle East & Africa. The adoption of EVs is expected to gain traction in the MEA region, as the government of countries including UAE, Qatar, and South Africa are taking initiatives to promote green mobility. For instance, the Dubai Green Mobility Initiative encourages citizens and businesses to move towards sustainable energy solutions including EVs.

The sales of electric two-wheelers in the African region witnessed a steep rise in demand particularly in South Africa, which offers lucrative growth opportunities for on-board chargers in the coming years.

COMPETITIVE LANDSCAPE

Key Industry Players

Business Expansion Of Delphi Technologies Through Signing Contracts With OEMs To Brighten Its Growth Prospects

Major players in this market include Delphi Technologies., Eaton Corporation, and Infineon Technologies AG.

Delphi Technologies, also known as ‘Aptiv,’ is Dublin based auto part company. It has a presence in 44 countries and more than 180,000 employees employed across 124 manufacturing facilities and. Aptiv’s expertise in software, electronics design, and system architecture optimization empowers it to provide solutions and products related to mobility. Thus, the market growth is attributed due to technological advancement.

LIST OF KEY COMPANIES PROFILED:

• Bel Power solution (U.S.)


• BRUSA Elektronik AG (Switzerland)


• Current Ways Inc. (U.S.)


• Eaton Corporation (Ireland)


• Infineon Technologies AG (Germany)


• Innoelectric GmbH (Germany)


• Toyota Industries Corporation (Japan)


• BorgWarner Inc. (U.S.)


• Valeo SA (France)


• HYUNDAI MOBIS (South Korea)

KEY INDUSTRY DEVELOPMENTS:

October 2024- HYUNDAI MOBIS announced its plans to mass-produce a component that doubles electric vehicle charging speed by the end of 2025. The company unveiled an integrated charging control unit (ICCU) that boosts EV charging speed to 22 kilowatts (kW) from the current 11 kW. The unit would also allow users to power or charge electronic devices using the EV battery.

October 2024- KOSTAL Automobil Elektrik (KAE) announced its newest production facility in Querétaro, Mexico. The KOSTAL Electro Mobility Mexicana (KEMM) plant is the KOSTAL Group's third facility in Querétaro. The new plant would create 750 new jobs and produce onboard chargers (OBC) for KOSTAL's OEM customers in the U.S.

March 2024- VMAX announced that the company had selected Infineon Technologies AG’s new CoolSiC hybrid discrete with TRENCHSTOP 5 Fast-Switching IGBT and CoolSiC Schottky Diode for its next-generation 6.6 kW OBC/DCDC on-board chargers. Infineon’s components come in a D²PAK package and combine ultra-fast TRENCHSTOP 5 IGBTs with half-rated free-wheeling SiC Schottky barrier diodes to achieve a perfect cost-performance ratio for both hard and soft switching topologies. With their superior performance, optimized power density, and leading quality, the power devices are ideally suited for VMAX’s on-board chargers.

November 2023- Infineon Technologies AG launched the 650 V CoolMOS CFD7A in the QDPAK package designed for efficient rapid charging of electric vehicles. This package family aimed to deliver similar thermal capabilities with enhanced electrical performance compared to the established TO247 THD devices, facilitating efficient energy use in onboard chargers and DC-DC converters.

November 2023- BorgWarner signed an agreement with a major North American OEM to supply its bi-directional 800V Onboard Charger (OBC) for the automaker’s premium passenger vehicle battery electric vehicle (BEV) platforms. The technology leverages silicon carbide (SiC) power switches for improved efficiency and delivers amplified power density, power conversion, and safety compliance. Production is slated to begin in January 2027.

REPORT COVERAGE

The electric vehicle on-board charger market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the eelctric vehicle on-board charger market trends and highlights vital industry developments. In addition to the factors above, the report encompasses several factors contributing to the market's growth over recent years.

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Report Scope & Segmentation