Press release
Automotive Onboard Charger Market is growing rapidly due to demand for electric and autonomous vehicles has been rising due to environmental concerns
Electric vehicles require frequent charging through an external supply of electric energy, which maximizes the range of these vehiclesAn automotive onboard charger performs the final stage charging of the traction battery pack in electric vehicles. It takes the AC or DC power source from the electric vehicle supply equipment (EVSE) and converts it into the required battery-charging profile.
Want to know the obstructions to your company’s growth in future? Request a brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=73019
Key Drivers of Automotive Onboard Charger Market
Consistent rise in prices of fossil fuels and increase in awareness about emissions from IC engines among the global population has boosted the sale of electric vehicles. According to the statistics of International Energy Agency (IEA) published in their Global EV Outlook 2020 report, sale of electric cars exceeded more than 2.1 million worldwide, with a 40% year-on-year growth. Furthermore, automakers are constantly launching newer electric vehicle models to withstand strong competition from other automakers. For instance, in September 2020, Lucid Motors, Inc. launched Lucid Air electric vehicle with fast charging system. Rise in sale of electric vehicles due to an increase in awareness among consumers and availability of various electric vehicles are propelling the global automotive onboard charger market.
Governments of numerous nations are actively promoting adoption of electric vehicles by enacting stringent emission norms such as EURO 6 by European Union, BSVI by India, and China 5. Governments are also providing lucrative benefits to electric vehicle manufacturers as well as customers in the form of subsidies and tax relaxations. These benefits offered by government agencies along with stringent emission norms are fueling the sale of electric vehicles, which in turn is boosting the automotive onboard charger market across the globe.
View Our Report @ https://www.transparencymarketresearch.com/automotive-onboard-charger-market.html
Challenges in Automotive Onboard Charger Market
The onboard charger has to condition power from the off-board AC charger (before supplying it to the traction batteries), which makes it a slow and time consuming process of EV charging and hence, more people prefer charging their vehicles at off-board charging stations. These functional drawbacks are hindering the global automotive onboard charger market.
Conventional electric vehicles are equipped with slow-speed AC charging solutions, which makes charging a vehicle a cumbersome task. OEMs have introduced fast charging vehicles in order to address these difficulties in slow charging speed. Furthermore, market players such as Infineon Technologies AG have launched onboard chargers with up to 22 kW power rating. These fast charging solutions are estimated to offer significant opportunities for market players during the forecast period.
The COVID-19 pandemic decreased the sales and production of electric vehicles and disrupted automotive supply chains, which hampered the demand for onboard chargers. This pandemic has created awareness about contactless technologies which in turn is anticipated to boost the popularity of wireless off-board chargers and subsequently, hamper the global automotive onboard charger market.
Purchase Premium Research Report @ https://www.transparencymarketresearch.com/checkout.php?rep_id=73019<ype=S
Sale of electric vehicles in Asia Pacific is rising significantly. China is one of the leading countries around the globe, in terms of electric vehicle sales. Companies such as BYD Company Ltd. have witnessed a growth of 97% in their sale of electric vehicles. Other countries such as India, Japan, and South Korea are also increasing their on-road number of electric vehicles. Rising sale and production of electric vehicles in Asia is fueling the global automotive onboard charger market.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Transparency Market Research
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Onboard Charger Market is growing rapidly due to demand for electric and autonomous vehicles has been rising due to environmental concerns here
News-ID: 2478546 • Views: …
More Releases from TMR

Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the…
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031.
The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The…
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its…
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,…
More Releases for Automotive
Automotive Grommet Market set for explosive growth: Cooper Standard Automotive, …
According to HTF MI, "Global Automotive Grommet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Automotive Grommet Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.96% from 2024 to 2030, reaching USD 100 Billion in 2024 and USD 150 Billion by 2030.
Automotive grommets are protective rings or eyelets made from rubber or plastic, used to protect or cover holes in metal…
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Global Automotive Safety Market 2019 Worldwide Outlook By Autoliv, Delphi Automo …
Automotive safety systems are designed to comply with the standards and regulations prescribed by government agencies and transport authorities worldwide. Passive safety systems are designed to protect passengers, drivers, and pedestrians during an accident.
In terms of region, the global Automotive Passive Safety Systems market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global…
Global Oil Pump for Automotive Market 2018 Analysis -Bosch,Denso,Aisin Seiki,Del …
According to this study, over the next five years the Oil Pump for Automotive market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2023, from US$ xx million in 2017. In particular, this report presents the global market share (sales and revenue) of key companies in Oil Pump for Automotive business.
Get Sample Copy of this Report for more Information…
Global Automotive Body Welded Assembly Market 2018 - Daesan, Baylis Automotive, …
Accord Market, recently published a detailed market research study focused on the “Automotive Body Welded Assembly Market” across the global, regional and country level. The report provides 360° analysis of “Automotive Body Welded Assembly Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of…