The global sedan hatchback on board charger market is anticipated to grow at a CAGR of 3.8 % during the forecast period (2022-2028). The rapid increase in electric vehicle sales, stringent emission regulations, advancements in battery technology, and improved charging infrastructure are expected to drive demand for sedan hatchback on-board chargers during the forecast period. Electric passenger vehicles are already being adopted in developed countries which is expected to further support the market positively during the forecast period. For instance, in 2019, the global electric passenger car fleet surpassed 7.2 million, with China accounting for roughly 47 % of the global electric car fleet. Global passenger car sales were sluggish in 2019, although electric cars set new records, with a 2.6 % share of global car sales, with China at 4.9 % and Europe at 3.5 % setting new records in electric vehicle share in 2019.
The increase in electric vehicles is surging demand for the charging points. For instance, in 2019, the number of charging points globally reached around 7.3 million, with 6.5 million of those being privately owned. Increased sales of passenger electric vehicles, as well as an increase in the number of chargers, will drive the growth of the sedan hatchback on-board charger market during the forecast period.
Many governments in developed and developing countries have outlined their plans for green mobility, which include banning diesel vehicles and providing incentives to EV buyers. For instance, the UK intends to prohibit the sale of all gasoline and diesel engine vehicles by 2040, while India intends to prohibit the sale of all diesel-engine vehicles on public roads by 2030. Norway, on the other hand, is far ahead of the curve, with plans to make every new car zero-emission by 2025. Thus, increasing initiatives across the globe is expanding the sedan hatchback on board charger market during the forecast period.
Some major players in the market include BYD Auto Co., Ltd., Nichicon Corp., Tesla, Inc., Infineon Technologies AG, Panasonic Holdings Corp., Aptiv Plc, LG Corp., Lear Corp., Shijiazhuang Dilong Tech. Co., Ltd., Kongsberg Gruppen, Kenergy Corp., Zhejiang Wanma Co., Ltd., and others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022, BMW launched all-electric sedan i4 in India.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- BYD Auto Co., Ltd., Nichicon Corp., Tesla, Inc., Infineon Technologies AG, Panasonic., Aptiv Plc, LG Corp., Lear Corp., Shijiazhuang Dilong Tech. Co., Ltd., Kongsberg Gruppen, Kenergy Corp., Zhejiang Wanma Co., Ltd., and others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Sedan Hatchback on Board Charger Market Report by Segment
By Type
- 0 – 3.7 kw
- Higher than 3.7 kw
- Lower than 3.0 kw
By Application
- EV
- PHEV
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