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On-Board Charger Market Revenue Outlook: What CAGR Lies Ahead Through 2030?
The on-board charger market has experienced significant expansion recently. It is forecast to increase from $5.87 billion in 2025 to $6.92 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 17.8%. Historically, this expansion has been driven by factors such as the initial application in passenger BEVs, the deployment in commercial PHEVs, a dependence on home AC chargers, the early integration with vehicle management systems, and the adoption in fleet electrification projects.
The on-board charger market size is expected to experience significant growth in the coming years. It is projected to expand to $13.23 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 17.6%. This anticipated growth is influenced by factors such as increasing EV penetration, the advancement of ultra-fast charging solutions, greater integration with renewable energy sources, broader adoption in fleet and commercial EVs, and improvements in energy management and grid interaction. Prominent trends for this period include the development of highly efficient on-board chargers, the incorporation of smart charging capabilities, the expansion of EV charging infrastructure, the deployment of AC/DC fast chargers, and the uptake of IoT-connected charging systems.
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On-Board Charger Market Industry Drivers: What’s Behind The Revenue Growth?
The expansion of investment in charging infrastructure is anticipated to accelerate the growth of the on-board charger market. This infrastructure encompasses the network of charging stations and associated equipment developed for recharging electric vehicles, including plug-in electric vehicles (PEVs). A widespread and readily available charging network is crucial for enhancing consumer confidence, encouraging the adoption of electric vehicles, and thereby increasing the need for advanced on-board chargers. For instance, in June 2023, a report from the National Renewable Energy Laboratory (NREL), a US-based research institution, indicated that a capital investment of $53–127 billion by 2030, which includes residential charging, would support 33 million PEVs, with $22-72 billion allocated for accessible Level 1 and Level 2 charging ports. Consequently, increased investment in charging infrastructure will stimulate the expansion of the on-board charger market.
On-Board Charger Market Segment Landscape And Growth Outlook
The on-board charger market covered in this report is segmented –
1) By Power Output: Below 7.2 kW, 7.2 kW–15 kW, Above 15 kW
2) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
3) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV)
Subsegments:
1) By Below 7.2 kW: AC Chargers For Low-Power EVs, Level 1 Chargers (120V)
2) By 7.2 kW–15 kW: AC Chargers For Mid-Range EVs, Level 2 Chargers (240V)
3) By Above 15 kW: High-Power Chargers For Larger EVs, Level 3 Chargers (DC Fast Charging Capable)
#On-Board Charger Market Growth Trends: What’s Shaping The Future Outlook?
Leading firms within the on-board charger market are creating advanced offerings, including sophisticated 20 kW chargers, aiming to secure a competitive edge and expand their product portfolios. This type of 20 kW on-board charger represents an advanced electrical part specifically engineered for commercial electric vehicles, delivering complete power output via single-phase input and potentially enabling bi-directional charging. As an illustration, during April 2023, Coulomb Solutions Inc. (CSI), an electrification solution provider based in the US, introduced a state-of-the-art 20 kW on-board charger tailored for commercial electric vehicles. This exclusive charger from CSI provides full power output utilizing a single-phase input, which stands out as a distinctive characteristic when contrasted with the prevalent three-phase standard found in Europe and China. CSI’s innovative design proves economical, negating the necessity for stacking multiple units or intricate setups, thereby decreasing high-voltage cabling requirements and related expenses, while simultaneously reducing the total footprint and weight.
On-Board Charger Market Competitive Landscape: Who Leads The Industry?
Major companies operating in the on-board charger market are Delta Energy Systems Corp., Toyota Motor Corporation, Eaton Corporation, STMicroelectronics NV, Stercom Power Solutions GmbH, BorgWarner Inc., LG Electronics Ltd., BYD Co. Ltd., Tesla Corp., Bel Fuse Inc., BRUSA Elektronik AG, Siemens AG, Innolectric AG, Yazaki Corporation, Aptiv Global Operations Limited, HyundAI Mobis Co. Ltd., Mitsubishi Electric Corporation, Infineon Technologies AG, Hangzhou Aodi Electronic Control Co. Ltd., Leopold Kostal GmbH Co., Dilong Technology Co. Ltd., Schneider Electric SE
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On-Board Charger Market Regional Analysis: Which Geography Leads On Revenue?
Asia-Pacific was the largest region in the on-board charger market in 2025. The regions covered in the on-board charger market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
