Electric Vehicle Battery Charger: Introduction
- Electric vehicle battery charger is a device that transfers electricity from the electric grid and distributes electricity to charge electric vehicles such as battery electric vehicles and plug-in hybrid electric vehicles.
- Numerous types of vehicle battery chargers have been developed and manufactured by the electric vehicles battery charger industry to convert AC to DC and to control battery charging. These are classified, based on the level of charging, as level 1, level 2, and level 3.
Key Drivers of Global Electric Vehicle Battery Charger Market:
- Rise in demand for electric vehicles and mass adoption of electric vehicles from consumers is likely to drive the electric vehicle battery chargers market across the globe
- Development of advanced version of portable battery charger and automatic electric battery charger is key factor boosting the demand for electric vehicles. Several key players are investing significantly to develop and manufacture this advanced technology, which is likely to propel the demand for electric vehicles battery charger market across the globe.
- Advancements in the charging process automatic electric battery chargers, wherein the charging process stops once the battery is fully charged, are likely to protect the battery for overheating due to excess charging. This is a key factor that is estimated to propel the electric vehicle battery charger market across the globe during the forecast period.
- Increase in demand for electric vehicles, strategic initiatives by several key players, and government initiatives to increase the sale of electric vehicles are major factors that are expected to boost the electric vehicle battery charger market across the globe
- Prices of electric vehicle battery and power electric devices are decreasing consistently. This rapid decline is mostly due to expansion of the manufacturing industry to develop products worldwide, which is likely to drive the electric vehicle battery charger market across the globe.
Challenges of Global Electric Vehicle Battery Charger Market:
- Higher price of electric cars, higher investment to develop charging stations, and lack of awareness regarding electric vehicles are key factors that hamper the electric vehicle battery charger market across the globe
- Several governments have enacted stringent norms and regulations on the development and manufacture of electric vehicles restrain the global electric vehicle battery market
Electric Vehicle Battery Charger Market to Offer Significant Opportunity:
- Increase in investment by key OEMs to develop electric vehicle battery charger and government initiatives to develop and manufacture of electric vehicles offer significant opportunity for the electric vehicle battery charger market across the globe
- Development of high power batteries and evolution of fast charging technologies are likely to drive the electric vehicle battery charger market.
Asia Pacific to Hold Significant Share of Global Electric Vehicle Battery Charger Market:
- The automotive industry in Asia Pacific is expanding at a significant pace. Demand for electric vehicles is increasing in the region. Asia Pacific is likely to hold a prominent share of the global electric vehicle battery charger market during the forecast period due to government initiatives, stringent government policies, and affordable prices of electric vehicles in the region. The presence of China, which is the largest market for electric vehicles, further boosts the market in Asia Pacific.
Key Players Operating in Electric Vehicle Battery Charger Market
The global electric vehicle battery charger market is highly fragmented with top manufacturers across the globe. A few of the key players operating in the global electric vehicle battery charger market are:
- Delphi Automotive LLP
- Robert Bosch GmbH
- Tesla Inc.
- Ficosa International SA
- Clore Automotive LLC
- Current Ways Inc.
- IES Synergy
- Lear Corporation
- Baccus Global LLC
- CTEK Holding AB
- Meta Systems S.P.A
- LG Electronics
- Schumacher Electric Corporation
- Schneider Electric S.E.
- General Electric Company
Global Electric Vehicle Battery Charger Market: Research Scope
Global Electric Vehicle Battery Charger Market, by Vehicle Type
- Battery Electric Vehicles
- Plug-In Hybrid Electric vehicles
- Hybrid Electric Vehicles
Global Electric Vehicle Battery Charger Market, by Level of Charging
- Level 1
- Level 2
- Level 3
Global Electric Vehicle Battery Charger Market, by Application
Global Electric Vehicle Battery Charger Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.