The global electric vehicle on board charger market is anticipated to grow at a significant CAGR of 19.6% during the forecast period. The contribution of the private and public sectors to leverage the sales of electric vehicles and reduce greenhouse gas emissions by announcing a ban on the sale of fossil fuel vehicles is the prominent factor responsible for the growth of the market. For instance, the European Commission report stated that the Sustainable and Smart Mobility Strategy set a milestone of at least 30 million zero-emission vehicles by 2030, and a zero-emission vehicle fleet by 2050. Moreover, a growing number of member states in Europe announced plans to ban sales of fossil fuel vehicles by 2030. Moreover, as per the UK Government, the government ends the sale of new petrol, diesel, and hybrid cars and vans from 2040 to 2035. Meanwhile, the sales of plug-in hybrid vehicles have reached with 327,000 registered in 2021, a 77% rise compared to 2020. By 2030, the UK is expected to reach 300,000 public electric vehicle charge points which are equivalent to 5 times the number of fuel pumps in the UK. Hence, the rise in support by the regulatory bodies leads to higher growth of the global electric vehicle on board charger market in coming years.
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Moreover, the market players are continuously focusing on adopting strategies such as collaboration, inventions, innovation, and funding to stay competitive in the global market. For instance, in April 2022, Entergy Texas Inc., granted $14,000 to Lemar University to install a new electric charging station located at the university police department. The project was allocated through Entergy’s Environmental Initiatives Fund. Moreover, in 2019, the company has installed a charging station in the Montagne Center’s north parking lot that provides easy access to faculty, staff, students, and community members. Installing this additional charging station in a central campus location adds the capacity that is needed to bolster sustainability efforts at LU.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Electric Vehicle on Board Charger Market Report by Segment
By Vehicle Type
- Passenger vehicles
- Commercial vehicles
By Propulsion Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
By Power Output
- <20KW
- >20KW
Global Electric Vehicle on Board Charger Market Report by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric vehicle on board charger market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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