Electric Vehicle On-Board Charger Market Size – By Propulsion, By Rating, Analysis, Share, Growth Forecast, 2025 – 2034

Electric Vehicle On-Board Charger Market Size

The global electric vehicle on-board charger market size was valued at USD 24.7 billion in 2024 and is estimated to grow at a CAGR of 20% from 2025 to 2034. The demand for electric vehicles has risen significantly which in turn augmenting the demand for on-board charging systems that feature quicker and efficient EV charging solutions. As a result, manufacturers have initiated the manufacturing of EV on-board charger having higher power ratings and advanced engineering to improve the overall charging experience and reduce the charging time to an unprecedented rate.
 

The standardization of EV charging protocols along with the expansion of charging infrastructure will further enhance the interoperability and convenience for EV users and in turn will aid in the acceleration of the market growth across the globe. With the continuous and rapid growth of the EV market, the on-board charging systems has witnessed growth potential, and the manufacturers and service providers are actively being engaged to further take full advantage of the ongoing electrification trend.

Electric Vehicle On-Board Charger Market Trends

Increasing trends towards switching to low-carbon energy sources along with the deployment of efficient charging solutions across electric vehicles will influence the development of the industry down the line. Heightened regulatory controls over greenhouse gas emissions and their adverse effects on the environment have enabled the growth of electric vehicles, complemented by electric vehicles trends and demand have impacted electric vehicle industry’s progress positively.
 

The use of high-performance materials including silicon carbide and gallium nitride integrated in on-board devices allows for improved energy efficiency, lower heat generation, and better performance of the charger. In addition, the use of smart charging is witnessing a higher adoption as it provides capabilities including remote load optimization and control which enhances the efficiency and control over EV charging by the user.
 

Electric Vehicle On-Board Charger Market Analysis

The battery electric vehicles (BEV) segment will reach USD 128.1 billion by 2034. BEVs adoption is gaining traction across the automobile industry as they eliminate pollution by using electric power from batteries, hence, having zero emission. Therefore, as BEVs assist in solving the problem of air pollution in global effort of reducing greenhouse gas emissions by having no tailpipe emissions. With the ever-increasing demand for non-polluting solutions and advancements in charging technologies and the infrastructure related to them, BEVs and onboard vehicle charging solutions will witness a major market share over the forecast timeframe.
 

The 11 to 22kW electric vehicle on-board charger market will grow at CAGR 19.5% till 2034. These range of OBC across the electric vehicles caters most of the commercial & industrial spaces, where high-capacity charging is required for in a shorter time span. Rapid increasing deployment of EV charging infrastructure across freeways, commercial complexes, educational institutions coupled with government initiative towards the investment for high-speed charging EVs will increase the product deployment, thereby augmenting the industry landscape.
 

The U.S. electric vehicle on-board charger market is expected to reach USD 10 billion by 2034, attributed to the increasing demand for more and efficient onboard chargers, as well as the recent surge of high range electric vehicles entering the market. Supporting government policies promoting clean transportation and the growing need to cut emissions, not only in the country but across the globe will reinforce the trend towards electric mobility on a positive note. Furthermore, consumer awareness and technological advancements in bidirectional charging and enhanced charging speed are all gradually having an impact as well, which in turn will sway the industry outlook in the country in a given timeframe.
 

Buoyed by significant infrastructure investments and increasing foreign direct investments, Asia Pacific is projected to earn maximum revenue owing to the enhanced awareness of environmental sustainability and consumer preference to buy EVs. In addition, the rapid and thorough introduction of electric vehicles fueled by policies promoting electric mobility through subsidies for the acquisition of EVs and massive investment is bound to enhance the rates of adoption of the product in the region, in turn burgeoning the market outlook.
 

Electric Vehicle On-Board Charger Market Share

The top companies enhancing their competitive edge in owning leading shares, the industry on electric vehicle on-board charger is evolving quickly owing to the frequent & new technology addition in the EV battery charging technology. The industry shift to higher power ratings, faster charging and bidirectional charging is changing the picture, as manufacturers strive to innovate to keep pace with the growing market for sustainable mobility solutions.
 

Electric Vehicle On-Board Charger Market Companies

Major players operating in the electric vehicle on-board charger industry are:

• Bel Fuse
• BorgWarner
• Brusa Elektronik
• Delta Energy Systems
• Eaton
• Ficosa Internacional
• Hyundai Motor
• Infineon Technologies
• Innolectric
• Nissan Motor
• Phinia
• Stercom Power Solutions
• STMicroelectronics
• Tesla
• Toyota Industries
• Valeo
• Xepics Italia
   

Electric Vehicle On-Board Charger Industry News

• In September 2024, STMicroelectronics unveiled its fourth generation of STPOWER silicon carbide (SiC) MOSFET technology, which was aimed at traction inverters for electric vehicle powertrains. The company also plans to develop additional SiC innovations through 2027 and, therefore, seems to be visionary as well as fostering innovation in the market.
   
• In February 2024, Infineon Technologies AG joined forces with VMAX, in a bid to improve efficiency and lower the cost of fast charging EVs as well. VMAX uses Infineon’s CoolSiC hybrid discrete technology in their 6.6 kW OBC/DCDC onboard chargers which combined with TRENCHSTO 5 IGBTs and Schottky Diodes guarantees better performance and power density. This cooperative effort seeks to advance new energy vehicles technologies, providing better and more reliable solutions that are needed in terms of performance, quality and cost preventive measures.
   

This electric vehicle on-board charger market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Units) and revenue (USD Billion) from 2021 to 2034, for the following segments:

Market, By Propulsion

• BEV
• PHEV
• Others

Market, By Rating

• 11 kW
• > 11 kW to 22 kW
• > 22 kW

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Norway
  • Germany
  • France
  • Netherlands
  • UK
  • Sweden
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina