The Europe On-Board Charger Market would witness market growth of 15.7% CAGR during the forecast period (2021-2027).
The range of electric vehicles is steadily growing, with latest versions available with a range of up to 600 miles. Trucks and vans have larger bodies than passenger vehicles, allowing them to fit more batteries for a greater range. Large electric motors can generate massive levels of torque, which can be used for towing and hauling. Nikola's Badger pickup truck, for example, has a range of 600 miles because to its fuel cell technology and batteries.
Although safety, reliability, and comfort are all key factors to consider when purchasing a vehicle, there is another critical element to consider with plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs): charging time. While recharging an internal combustion engine (ICE) vehicle just takes a few minutes, recharging the motive battery in PHEVs and BEVs takes much longer.
Stringent environmental rules, pro-EV government policies, increased vehicle electrification, and the availability of essential charging infrastructure are all significant factors driving EV adoption in Europe. Norway, Sweden, Denmark, Germany, and the United Kingdom are leading the European electric vehicle revolution. The presence of prominent EV manufacturers in the region presents even more appealing growth potential for on-board chargers market.
The Germany market dominated the Europe Others On-board Charger Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $77.8 million by 2027. The UK market would witness a CAGR of 15.1% during (2021 - 2027). Additionally, The France market is experiencing a CAGR of 16.7% during (2021 - 2027).
Based on Propulsion Type, the market is segmented into Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV). Based on Vehicle Type, the market is segmented into Passenger Car, Buses, Vans, Medium & Heavy-Duty Vehicles, Boats, and Others. Based on Power Output, the market is segmented into Less than 11 kW, 11 kW to 22 kW, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global On-board Charger Market Size will Hit $10 Billion by 2027, at a CAGR of 16.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Current Ways, Inc., Eaton Corporation PLC, STMicroelectronics N.V., Infineon Technologies AG, Bel Fuse, Inc., TDK Corporation (InvenSense), Toyota Motor Corporation, BorgWarner, Inc., Panasonic Corporation, and AVID Technology Limited.
By Propulsion Type
By Vehicle Type
By Power Output
By Country
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