Detroit, Aug. 28, 2025 (GLOBE NEWSWIRE) -- The global EV On-board Charger Market size was valued at US$6.5 billion in 2024, and is projected to reach US$15.7 billion by 2031, witnessing a market growth CAGR of 12.4% from 2024 to 2031, according to an analysis by Stratview Research.
Stratview Research, a global market research firm, has launched a report on the global EV On-board Charger Market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
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Market Statistics
| Market Size in 2024 | US$6.5 billion |
| Market Size in 2031 | US$15.7 billion |
| Growth (CAGR) | 12.4% during 2024-2031 |
| Leading Power Flow Type | Unidirectional |
| Leading Propulsion Type | BEV |
| Leading Vehicle Type | LV |
| Leading Power Rating Type | > 5 kW |
| Leading Region | Asia-Pacific |
| Forecast Period | 2024-2031 |
| Trend Period | 2019-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 5 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights & Market Share Analysis of the EV On-board Charger Market:
The global EV On-board Charger Market is segmented based on Power Flow type, Propulsion type, Vehicle type, Power Rating type, and region.
Based on Power Flow Type
- EV on-board chargers are segmented into unidirectional and bidirectional power flow types.
- Unidirectional on-board chargers (OBCs) continue to dominate the market due to their cost-effectiveness, simplified design, and seamless compatibility with existing EV charging infrastructure.
- Unidirectional on-board chargers adequately meet the standard energy transfer needs of most EV users, making them well-suited for mass-market, entry-level, and mid-range vehicles where affordability and efficiency are critical.
- Their simple design and ease of integration into existing vehicle architectures also enable faster production and deployment by automakers.
- The bidirectional OBCs are expected to grow at a faster rate during the forecast period, driven by increasing interest in advanced energy applications such as vehicle-to-grid (V2G) and vehicle-to-home (V2H).
- Despite their growth potential, bidirectional systems face challenges like higher costs, regulatory uncertainty, and insufficient grid infrastructure, which limit widespread adoption in the short term.
Based on Propulsion Type
- EV on-board chargers are segmented into BEV and HEV propulsion types.
- Battery electric vehicles (BEVs) are likely to continue to dominate the EV on-board charger (OBC) market through the forecast period.
- Unlike plug-in hybrid electric vehicles (PHEVs), BEVs rely entirely on electric power for propulsion, making energy-efficient and high-performance OBCs essential.
- Their larger battery packs, especially in long-range models, demand more robust charging systems to ensure acceptable charging times and overall user convenience.
- In the coming years, the expansion of fast-charging networks and the development of infrastructure supporting higher-powered chargers will favor vehicles equipped with OBCs rated above 5 kW, enabling them to better capitalize on these advancements and achieve sustained market penetration.
Based on Vehicle Type
- EV on-board chargers are segmented into LV and M&HCV vehicle types.
- LV is expected to remain the dominant vehicle type throughout the forecast period.
- The rising adoption of passenger cars and small electric vehicles is being driven by growing consumer demand, increasing urban mobility needs, and supportive government incentives.
- Additionally, most existing EV charging infrastructure, both residential and public AC systems, is primarily designed for light-duty vehicles.
- In response, automakers are focusing on delivering efficient and cost-effective onboard chargers tailored to the needs of light vehicles (LVs).
- This trend is expected to reinforce the continued dominance of the LV segment in the OBC market throughout the forecast period.
Based on Power Rating Type
- The EV on-board charger market is segmented into three power rating types: < 3kW, 3kW to 5kW, and > 5kW.
- 5kW is expected to remain the dominant power rating type in the market during the forecast period.
- A majority of mid-range to high-end electric vehicles gaining popularity for their extended range and advanced features, require higher-rated on-board chargers to reduce charging time and enhance user convenience.
- OBCs with power ratings above 5 kW are increasingly preferred, as they ensure more efficient charging, particularly for vehicles equipped with larger battery packs.
- With consumer desire for quicker and easier charging, automakers are also including more powerful OBCs in their cars.
- In the coming years, the expansion of fast-charging networks and the development of infrastructure supporting higher-powered chargers will favor vehicles equipped with OBCs rated above 5 kW, enabling them to better capitalize on these advancements and achieve sustained market penetration.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that the Asia-Pacific is expected to remain the largest market for EV on-board chargers during the forecast period. This growth outlook is majorly attributed to the following–
- This is mainly fuelled by the explosion of the electric vehicle (EV) industry in countries such as China, India, and Japan, which are at the forefront of adopting EVs courtesy of a strong government policy on incentives, environmental policies, and growing consumer demand for cleaner means of transport.
- China, more specifically, is the world’s biggest EV market, and the demand for OBCs is significant, as the nation continues to develop its EV infrastructure and capacity.
- In addition, many big car makers are set on making electric vehicles for the Asia-Pacific market, thereby pushing the adoption of OBCs to higher levels.
- The region also enjoys cheap manufacturing and established supply chains for EV components, which a key gateway for both EV production and charging technology.
- As the demand shifts towards sustainable growth and reduced emissions, the Asia-Pacific will continue to dominate the EV on-board charger market in the years to come.
EV On-board Charger Market Drivers:
Some of the key drivers listed in the report are given below.
- Rising EV Adoption: Increasing demand for electric vehicles due to environmental concerns, fuel cost savings, and advancements in battery technology.
- Government Incentives & Policies: Subsidies, tax rebates, and stringent emission regulations are pushing automakers toward electrification.
- Expansion of Charging Infrastructure: Development of fast-charging stations and rising public and private charging networks drive the need for efficient OBCs.
- Technological Advancements: Innovations in power electronics, bidirectional charging, and smarter OBCs with enhanced efficiency.
- Battery Performance Improvements: The shift toward higher-capacity and higher-voltage EV batteries demands more advanced on-board chargers (OBCs) capable of efficient power conversion, optimized thermal management, and enhanced safety protocols.
Competitive Landscape: Top Companies in the EV On-board Charger Market:
Stratview Research has identified the following companies as the top market players:
- Valeo
- BYD Auto Co., Ltd.
- BorgWarner Inc.
- Tesla, Inc.
- Toyota Industries Corporation
- KOSTAL Group
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the EV On-Board Charger Market |
| How lucrative is the future? | Market forecast and trend data, and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, and Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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