Dec 12, 2018   SOURCE: BusinessWire

Global Hybrid and Electric Vehicle On-Board Charger Market 2018-2022 | Invention of Bi-Directional On-Board Chargers to Boost Demand | Technavio

The global hybrid and electric vehicle on-board charger market is expected to post a CAGR of over 52% during the period 2018-2022, according to the latest market research report by Technavio. However, the market is expected to decelerate on a year-on-year basis during the forecast period.

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Technavio has released a new market research report on the global hybrid and electric vehicle on-boa ...

Technavio has released a new market research report on the global hybrid and electric vehicle on-board charger market for the period 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the global hybrid and electric vehicle on-board charger market is the improvements in power capacity of on-board AC chargers. The conventional AC chargers had a major drawback of slow charging capability, which has been overcome by AC fast chargers that have a charging capacity of 22 KW. For instance, BRUSA Elektronik produced the battery charger NLG6 for EVs capable of operating on a three-phase current. These improvements are propelling the growth of the market.

This market research report on the global hybrid and electric vehicle on-board charger 2018-2022 also provide an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the invention of bi-directional on-board chargers as one of the key emerging trends in the global hybrid and electric vehicle on-board charger market:

Global hybrid and electric vehicle on-board charger market: Invention of bi-directional on-board chargers

There has been a strong increase in the penetration of EVs worldwide, thanks to governments' extensive support to both manufacturers and consumers. The increased volume of EVs has increased the demand for electricity, especially during peak hours. This is leading to the invention and testing of vehicle-to-grid (V2G) chargers, which can transfer the power between a vehicle and a grid bi-directionally. This has resulted in the invention of bi-directional on-board chargers for plug-in vehicles to be compatible with V2G charging. The growth of the V2G market and the bi-directional on-board charger market will have a positive impact on the global hybrid and electric vehicle on-board charger market during the forecast period.

“Apart from the invention of bi-directional on-board chargers, factors such as the trend of turning an electric powertrain into a universal charger, along with the integration of systems for light weighting of on-board chargers are expected to positively impact the growth of the global hybrid and electric vehicle on-board charger market during the forecast period,” says a senior analyst at Technavio.

Global hybrid and electric vehicle on-board charger market: Segmentation analysis

This market research report segments the global hybrid and electric vehicle on-board charger market by vehicle type (BEVs and PHEVs) and geographical regions (APAC, EMEA, and the Americas).

The APAC led the market in 2017 with a market share of over 62%, followed by the Americas and EMEA respectively. Although the Americas held a market share lesser than the APAC in 2017, it is expected to register the highest incremental growth during the forecast period.

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Market Landscape

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  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
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Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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