Asia Pacific Electric Vehicle On-Board Charger Market Size - By Propulsion (BEV, PHEV), By Rating (< 11 kW, > 11 kW to 22 kW, > 22 kW), Growth Forecast 2024 - 2032

Asia Pacific Electric Vehicle On-Board Charger Market will exhibit over 23.5% CAGR from 2024 to 2032, strengthened by the proliferation of electric vehicle EV.

As per a Tata Power press release in April 2024, it has achieved a significant milestone, surpassing 10 crores 100 million green kilometers in EV charging. This makes Tata Power the first to reach this landmark, underscoring its pivotal role in advancing Indias sustainable mobility and e-mobility infrastructure. As both public and private sectors invest in building extensive networks of charging stations, the accessibility of charging services improves. This development encourages more consumers to switch to electric vehicles, which in turn creates a higher need for on-board chargers that enable efficient and effective energy transfer within the vehicle.

Further, there is increasing awareness about environmental sustainability and the need to reduce carbon emissions. This factor, along with continuous improvements in charging technology, such as faster charging times and increased efficiency, will bolster the demand for EV on-board charger across the APAC.

Asia Pacific electric vehicle on-board charger industry is sorted based on propulsion, rating, and country.

The Plug-in Hybrid Electric Vehicle PHEV segment will record a strong CAGR through 2032. PHEVs offer electric and conventional driving modes, necessitating advanced on-board chargers to handle dual power sources effectively. Additionally, advancements in battery technology and charging efficiency are enhancing the performance of PHEVs, favoring wider adoption. As consumers seek more versatile and efficient hybrid solutions, the need for on-board chargers continues to boom.

The lt11kW segment will hold a notable electric vehicle on-board charger market share in Asia Pacific by 2032. The demand for the lt11kW segment is elevating due to increasing consumer preference for home charging solutions. Low power rating chargers are ideal for residential use, aligning with the typical charging needs of most EV owners who charge their vehicles overnight. Additionally, the affordability and compact size of lt11kW chargers make them accessible to a broader audience. Enhanced safety features and ease of installation contribute to the growing popularity of these chargers in residential settings and strengthen their demand.

China electric vehicle on-board charger market will register a noticeable CAGR between 2024 and 2032. The country is heavily investing in green transportation to combat pollution and reduce carbon emissions. Government policies and incentives specifically target the expansion of electric vehicle use, driving up the need for efficient charging solutions. Additionally, the rapid growth of the domestic EV sector and the development of smart cities with integrated charging infrastructure support the demand. As China advances its sustainable transport initiatives, the need for reliable EV on-board chargers continues to increase.