Passenger Car Onboard Charger (OBC) Market was valued at USD 4.5 Billion in 2022 and is projected to reach USD 12.3 Billion by 2030, growing at a CAGR of 16.5% from 2024 to 2030.
Looking forward, the period from 2023 to 2033 is expected to witness accelerated growth in the OBC market. Projections indicate that the market could reach USD 19.67 billion by 2030, maintaining a CAGR of 18.5% during this period. Key factors contributing to this growth include:
- Technological Advancements: The integration of silicon carbide semiconductor technology in OBCs offers higher power density and efficiency rates exceeding 98%. Companies are focusing on developing more powerful and efficient silicon carbide onboard chargers to meet the growing energy demands of modern EVs.
- Government Initiatives: Various governments have announced plans to ban the sale of new fossil fuel vehicles in the coming years. For instance, the UK aims to halt such sales by 2030, while California plans a similar ban by 2035. These policies are expected to boost EV adoption, thereby increasing the demand for onboard chargers.
- Expansion of Charging Infrastructure: The global deployment of electric charging stations is on the rise. Companies like Shell have announced plans to install 500,000 electric charging stations by 2025, enhancing the accessibility and convenience of EV charging.
In my experience, the evolution of onboard charging technology has been remarkable. Early EV models often faced challenges with slow charging times and limited range. However, recent advancements in OBC technology have significantly improved charging efficiency and reduced charging durations, making EVs more practical for daily use. The shift towards higher voltage systems, such as 800V architectures, has also contributed to faster charging capabilities and better power management.
As the automotive industry continues to embrace electrification, the role of onboard chargers becomes increasingly critical. The anticipated growth in the OBC market from 2023 to 2033 underscores the importance of continued innovation and investment in this sector to support the expanding global fleet of electric vehicles.
Get an In-Depth Research Analysis of the Global Passenger Car Onboard Charger (OBC) Market Size And Forecast [2025-2032]
The passenger car onboard charger (OBC) market has witnessed significant growth from 2018 to 2022, driven by the increasing adoption of electric vehicles (EVs) and advancements in charging technologies. As we look ahead, the demand for OBCs is expected to surge further from 2023 to 2033, propelled by technological innovations and supportive government policies.
Between 2018 and 2022, the global OBC market experienced substantial expansion. In 2022, the market was valued at approximately USD 5.21 billion, with a compound annual growth rate (CAGR) of 18.5% anticipated from 2023 to 2030. This growth was largely attributed to the rising sales of electric cars worldwide, which saw a 60% increase in 2022, totaling 10.6 million units. The high cost of public charging and the convenience of home charging solutions further fueled the demand for efficient onboard chargers.
Who are the largest Global manufacturers in the Passenger Car Onboard Charger (OBC) industry?
- STMicroelectronics
- Eaton
- Innoelectric
- Tesla
- Ficosa
- Infineon Technologies
- Continental AG
- BorgWarner
- Sanmina Corporation
- FinDreams Powertrain
- EVTECH
- Vmax
- Enpower Electric
- Shinry Technologies
- Tiecheng Information Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global Passenger Car Onboard Charger (OBC) Market Size And Forecast [2025-2032]
What are the factors driving the growth of the Global Passenger Car Onboard Charger (OBC) Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Global Passenger Car Onboard Charger (OBC) Market
- Battery Electric Vehicle(BEV)
- Plug-in Hybrid Electric Vehicles (PHEV)
What are the types of Passenger Car Onboard Charger (OBC) available in the Market?
Based on Types the Market is categorized into Below types that held the largest Passenger Car Onboard Charger (OBC) market share In 2023.
- Below 11KW
- 11KW to 22KW
- Above 22KW
Which regions are leading the Global Passenger Car Onboard Charger (OBC) Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Passenger Car Onboard Charger (OBC) Market Research Analysis
Detailed TOC of Global Passenger Car Onboard Charger (OBC) Market Research Report, 2024-2032
1. Introduction of the Global Passenger Car Onboard Charger (OBC) Market
- Overview of the Market
- Scope of Report
- Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
4. Global Passenger Car Onboard Charger (OBC) Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global Passenger Car Onboard Charger (OBC) Market, By Type
6. Global Passenger Car Onboard Charger (OBC) Market, By Application
7. Global Passenger Car Onboard Charger (OBC) Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global Passenger Car Onboard Charger (OBC) Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
