AC BEV On-Board Charger Market by Type (AC On-Board Chargers, Fast Charging On-Board Chargers, Standard Charging On-Board Chargers), Charging Mode (Mode 1, Mode 2, Mode 3), Vehicle Type (Passenger Electric Vehicles, Commercial Electric Vehicles), Power Rating (Below 7 kW, 7 kW - 22 kW, Above 22 kW), End-Use Industry (OEM, Aftermarket): Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the AC BEV On-Board Charger Market was valued at USD 3.0 billion in 2023 and will surpass USD 9.0 billion by 2030; growing at a CAGR of 17.2% during 2024 - 2030.

The AC BEV On-Board Charger market is gaining momentum due to the rise of electric vehicles (EVs) and the need for efficient charging infrastructure. On-board chargers (OBCs) are critical components in the electric vehicle charging process, converting alternating current (AC) from a charging station into direct current (DC) for the vehicle’s battery. As the demand for electric vehicles continues to grow, so does the need for high-performance OBCs that can ensure fast, efficient, and safe charging. These chargers play a pivotal role in the transition to greener transportation, particularly as governments, businesses, and consumers embrace electric mobility to reduce carbon emissions.

As the EV market expands, technological advancements in charging solutions, such as fast-charging systems, and improvements in power ratings are accelerating the development of next-generation on-board chargers. Additionally, the push for standardization in charging modes and integration with smart grid systems is further driving the demand for innovative OBCs. The market is expected to grow rapidly as automakers and suppliers aim to meet the needs of both consumer and commercial electric vehicles while providing cost-effective and reliable charging solutions.

Fast Charging On-Board Chargers Segment Is Fastest Growing Owing to Increased EV Adoption

The Fast Charging On-Board Chargers segment is the fastest growing within the AC BEV on-board charger market. Fast-charging technologies are at the forefront of the EV revolution, addressing one of the most significant concerns of electric vehicle owners: charging time. Fast-charging on-board chargers enable EVs to be charged quickly, making long-distance travel more feasible and reducing downtime for users. As a result, the demand for fast-charging solutions is rising rapidly, driven by consumer preference for faster charging times and the expansion of EV infrastructure globally.

The rise of fast-charging on-board chargers is closely tied to the growing adoption of electric vehicles, particularly in regions where EV infrastructure is being rapidly developed. As automakers continue to invest in the electrification of their fleets, the need for fast-charging solutions that can support high-performance EVs is becoming a priority. The fast charging segment is expected to experience significant growth as both OEMs and aftermarket players work to bring faster, more efficient charging technologies to market, contributing to the continued success of electric mobility.

Mode 3 Charging Mode Is Largest Owing to Higher Efficiency and Safety

The Mode 3 charging mode is the largest in the market, owing to its higher efficiency and enhanced safety features. Mode 3 charging involves communication between the vehicle and the charging station to ensure optimal and safe charging. This mode is typically used for AC charging at public charging stations, offering features such as overcurrent protection, earthing control, and other safety protocols. Mode 3 chargers are widely deployed due to their ability to handle higher power ratings compared to Mode 1 and Mode 2 chargers, making them ideal for both residential and commercial charging applications.

The adoption of Mode 3 charging is driven by the increasing demand for robust and reliable charging solutions. As the number of electric vehicles continues to rise, the need for high-performance charging infrastructure that offers both speed and safety is paramount. Mode 3 chargers are increasingly being integrated into EV charging stations and home charging solutions, providing a balanced solution for efficient, safe, and scalable charging. This segment is expected to dominate the market as electric vehicles become more common and as charging infrastructure is upgraded to meet the needs of growing EV populations.

Passenger Electric Vehicles (PEVs) Segment Is Largest Owing to High Demand for Personal Mobility

The Passenger Electric Vehicles (PEVs) segment is the largest within the vehicle type category in the AC BEV on-board charger market. Passenger electric vehicles account for the majority of global electric vehicle sales, driven by growing consumer demand for clean and sustainable transportation options. With government incentives, advancements in battery technology, and increasing environmental awareness, the adoption of PEVs is accelerating. As a result, the need for efficient on-board chargers that can support the charging requirements of these vehicles is substantial.

The PEV segment is bolstered by the rise of various EV models from established automakers and new entrants in the automotive industry. Consumer preference for zero-emission vehicles, combined with the expanding network of charging stations, is expected to fuel the growth of PEVs in the coming years. As PEV adoption grows, so will the demand for high-performance on-board chargers that enable faster and more convenient charging experiences for consumers. The PEV segment is poised to remain the largest contributor to the AC BEV on-board charger market due to its broad market base and continued growth prospects.

7 kW - 22 kW Power Rating Segment Is Largest Owing to Optimal Balance of Charging Speed and Cost

The 7 kW - 22 kW power rating segment is the largest within the AC BEV on-board charger market. Chargers in this power range are popular for both residential and commercial charging applications, providing an optimal balance between charging speed and cost-effectiveness. These chargers are commonly used in home charging stations, as they can provide a reasonable charging speed without the need for expensive infrastructure. Additionally, many public charging stations and workplaces are increasingly installing chargers in this power range to cater to the growing number of electric vehicle owners.

The 7 kW - 22 kW range is favored for its versatility and ability to support various types of electric vehicles, including smaller passenger vehicles and light commercial vehicles. As the EV market matures and infrastructure improves, the demand for this power rating segment is expected to remain robust. With cost-effective installation and sufficient charging speeds for daily commuting, this power range is becoming the standard for residential charging, making it the dominant segment in the power rating category.

OEM Segment Is Largest End-User Owing to Increasing Integration of Telematics and Charging Solutions

The OEM (Original Equipment Manufacturer) segment is the largest end-user in the AC BEV on-board charger market. OEMs are driving the development and integration of on-board chargers as part of their broader efforts to electrify their vehicle fleets and meet consumer demand for efficient electric vehicles. Automakers are embedding advanced charging solutions into their vehicles to ensure seamless charging experiences, enhance vehicle performance, and comply with stringent emissions regulations. This growing integration of electric mobility into OEM vehicle lineups has been a significant driver of the market for on-board chargers.

OEMs also play a crucial role in driving innovation in on-board chargers, with many leading automakers working on developing next-generation charging technologies that support faster charging, increased efficiency, and enhanced safety. As electric vehicle sales continue to rise and new models are introduced, OEMs will remain the dominant force in driving demand for high-performance on-board chargers. The OEM segment is expected to maintain its leadership position as automakers continue to prioritize electrification and invest in charging infrastructure.

Asia-Pacific Leads the Market Owing to High EV Adoption and Government Support

Asia-Pacific is the fastest growing region in the AC BEV on-board charger market. The region has become the epicenter of electric vehicle production and adoption, with countries like China, Japan, and South Korea leading the charge in both vehicle manufacturing and infrastructure development. China, in particular, is the largest market for electric vehicles, supported by government policies that promote EV adoption through subsidies, tax incentives, and the expansion of charging networks. As the region continues to invest in electrification, the demand for advanced on-board chargers to support electric vehicles will grow significantly.

Asia-Pacific's rapid urbanization and increasing focus on reducing air pollution are also driving the shift towards electric mobility. The region is expected to see continued growth in both passenger and commercial electric vehicles, fueling demand for efficient on-board chargers. With governments and automakers focusing on accelerating the adoption of electric vehicles, Asia-Pacific is set to maintain its lead as the fastest growing region in the AC BEV on-board charger market.

Competitive Landscape and Leading Companies

The AC BEV On-Board Charger Market is highly competitive, with key players such as ABB Ltd., Schneider Electric, Siemens AG, Delta Electronics, and Panasonic Corporation driving innovations in the development of on-board chargers. These companies are at the forefront of creating high-efficiency, cost-effective charging solutions that meet the growing demand for electric vehicle infrastructure. Strategic partnerships, R&D investments, and mergers and acquisitions are common in this market as companies look to expand their product portfolios and stay ahead of technological trends.

Leading players are focusing on the development of fast-charging solutions, higher power ratings, and integration with smart grid systems to meet the evolving needs of the automotive industry. As the EV market continues to expand, competition will intensify, and these companies will continue to lead the way in providing advanced on-board chargers that support the global transition to electric mobility. The market will likely see increased collaboration between OEMs, suppliers, and infrastructure providers to offer integrated, scalable, and efficient charging solutions.

Recent Developments:

• Infineon Technologies AG launched a new generation of AC on-board chargers aimed at improving energy efficiency and reducing charging times for passenger electric vehicles.
• Delta Electronics, Inc. announced the release of an ultra-fast AC charger that supports both home and public EV charging stations, optimizing charging infrastructure globally.
• ABB Ltd. unveiled a range of modular AC on-board chargers with customizable power ratings for enhanced compatibility with different EV models.
• Tesla, Inc. introduced its latest AC on-board charger, which integrates seamlessly with Tesla’s charging stations, improving user experience and reducing energy consumption.
• Eaton Corporation PLC entered a strategic partnership to supply advanced AC on-board chargers for commercial electric vehicles, accelerating electrification in the transport sector.

List of Leading Companies:

• ABB Ltd.
• Bosch Automotive
• Broadcom Inc.
• BYD Co. Ltd.
• Delta Electronics, Inc.
• Eaton Corporation PLC
• GARO AB
• Infineon Technologies AG
• KEBA AG
• Leviton Manufacturing Co., Inc.
• Nissan Motor Corporation
• Pietro Fiorentini S.p.A.
• Schneider Electric
• Siemens AG
• Tesla, Inc.

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