The market of on-board charger

The global automotive on-board charger market is anticipated to register a CAGR of about 30% during the forecast period (2020 – 2025). The rapid sales of electric vehicles, stringent emission regulations, advancements in battery technology, and improving charging infrastructure are expected to fuel the demand of the automotive on-board chargers in the forecast period. The market is already witnessing the adaptation of electric passenger vehicles in the developed countries, and now the new startups and major players in the EV industry are planning to introduce their new electric models in the coming years. On-Board Charger is the important component in the electric vehicles, It allows the charging of the vehicle’s battery by converting AC voltage into DC. The main components include input filter, power factor corrector, DC/ DC Converter, and a control circuit that enables communication with other devices on the vehicle. EV battery range is increasing rapidly, now models are coming in the market with up to 600 miles range. Trucks and van's body sizes are bigger as compared to passenger cars; they can accommodate more batteries for longer range. Big electric motors can create enormous amounts of torque for towing and hauling capacities. For instance, Nikola's Badger pickup truck has a range of 600 miles, due to its fuel cell technology in addition to batteries. China is the leader in the EV race, it’s fleet of electric buses accounts for more than 98% of total electric buses running worldwide. China has a fleet of more than 425000 electric buses. This high adoption can be attributed to the strong municipal framework that many provinces in China have adopted. More than 30 Chinese cities have made plans to achieve 100% electrified public transit by 2020, including Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan in the Pearl River Delta, along with Nanjing, Hangzhou, Shaanxi, and Shandong.