On Board Charger are essential devices designed to meet consumers' mobile charging needs. With the increasing adoption of smart devices and the growing number of vehicles on the road, the demand for On Board Charger continues to rise. Notably, the widespread adoption of electric vehicles (EVs) has propelled the car charger market into a new phase of growth opportunities.
Smart device popularization
The global number of smartphone and other portable device users continues to grow.
According to Statista, the number of smartphone users is expected to reach 7.7 billion by 2024, driving increased demand for On Board Charger.
Additionally, more consumers rely on energy-intensive applications, such as navigation and music streaming, leading to a heightened need for fast car charging solutions.
New energy vehicle market growth
The International Energy Agency (IEA) reports that global sales of new energy vehicles (NEVs) are expected to exceed 15 million units in 2024, accounting for 20% of total new car sales. This presents significant opportunities for On Board Charger that
support high-power fast charging and smart charging features.
Consumer behavior change
In the post-pandemic era, the surge in long-distance road trips has driven the demand for portable car charging solutions.
Consumers are increasingly inclined to purchase high-end products that support multi-port, Type-C, and wireless charging features.
Policy and environmental protection
Government support policies for environmentally friendly products in regions such as Europe and China have promoted the technological upgrading of the car charger market. For example, the unified Type-C interface policy promoted by the European Union has further standardized product standards.
According to The Business Research Company's, The on-board charger market size has grown rapidly in recent years. It will grow from $4.31 billion in 2023 to $5.13 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to government incentives, electric vehicle (ev) adoption, emission reduction goals, cost reduction, government incentives.The on-board charger market size is expected to see rapid growth in the next few years. It will grow to $10.09 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to consumer demand, sustainable practices, automotive industry, faster charging, electric vehicle (ev) fleets. Major trends in the forecast period include high-power charging stations, ev charging infrastructure, technological advancements, battery technology, vehicle-to-grid (v2g).
Consumer Behavior Drivers
The increasing use of smartphones, tablets, and other wearable devices has made On Board Charger a necessity.
The demand for long-distance driving, particularly in tourism, logistics, and other scenarios, has further intensified the need for
On Board Charger.
Development of New Energy Vehicles
As the ecosystem surrounding new energy vehicles continues to develop, the demand for On Board Charger that support fast charging, Type-C, and wireless charging features has surged.
In the coming years, it is expected that new energy vehicle owners will account for over 60% of total car charger users.
Government Policies and Environmental Awareness
Many countries and regions are implementing environmental policies that encourage high-efficiency and eco-friendly designs for automotive electronics, driving market upgrades.
Market Share Analysis
The following is the distribution of the global car charger market share for 2024, based on product types and regional markets:
Product Type | Market Share (Estimated) |
USB Car Charger | 50% |
| 25% |
Wireless Car Charger | 25% |
Market Forecast (2024-2030)
CAGR: The compound annual growth rate (CAGR) of the car charger market is expected to be 8.5% from 2024 to 2030.
Market Size: The global car charger market is expected to reach $12 billion in 2024 and grow to $21 billion by 2030.
Technology Trends
Multi-port Design: Chargers that allow multiple devices to be charged simultaneously will become mainstream.
Wireless Charging: As technology costs decrease, wireless charging will become more common in standard vehicles.
Smart Charging: Products that support smart current adjustment, device identification, and other features will be the future trend.
Competitive Landscape
Key Players: Brands like Anker, Belkin, Baseus, Xiaomi, and Romoss occupy significant positions in the global market.
Regional Brands Rising: Local manufacturers in emerging markets are rapidly growing, capturing market share with price advantages and customized services.
Partnerships and Acquisitions: Large brands are strengthening their market positions through partnerships with automakers or by acquiring new technology companies.
