The evolution of technology in the vehicle engine propulsion space, from coal and steam powered engines to gasoline powered and electric powered has played a crucial role in shaping the economy. This evolution has resulted in enhancing the operational capabilities of automotive industry, in terms of enhanced safety measures, connectivity, cost reduction, and convenience for users. 

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The global automotive industry is undergoing a period of wide-ranging transformation, especially with a change in the consumer behavior as well as an increase in the implementation of stringent environmental regulations. A rise in the conventional fuel vehicle sales, along with increasing global population and urbanization, has brought with it some serious concerns such as global warming and alarming pollution levels. There are innumerable issues that are plaguing the planet and the natural resources (especially fossil fuels) are declining at a rapid pace. This has consequently led the governments, environmental agencies, and automobile manufacturers to develop different modes of transport that run on alternate fuels. This has led to the consumer inclination to accept electric vehicle as an alternate option, which has evolved from a niche solution to a practical alternative for mobility in the 21st century. With this, the manufacturers of EVs are focusing on developing energy efficient, costeffective, and compact drivetrain components such as inverters, on-board chargers, microcontroller units, battery management system, and rectifiers among others.

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An on-board charger (OBC) is a crucial component in any electric vehicle drivetrain that manages the flow from a grid to the battery inside the vehicle. Due to the requirement for high charging efficiency, good heat dissipation effect, and a high-power density, there is a surging demand for compact and lightweight OBCs. The stringent government regulations toward the increasing adaption of EV has been the strongest driving force for a faster deployment of this vehicle category, especially at the manufacturing level. However, there is a huge challenge for the faster EV adoption among consumers due to EV range or the distance covered in one single charge. This is coupled with a lack of charging infrastructure in various countries such as the U.S., India, and some European countries.

This is due to the reason that presently, the EVs have transformed from an experimental mode of vehicle to a necessity, with automakers worldwide putting in considerable efforts to make EVs available in all the economic ranges. This has led to a surge in demand for passenger EVs in the plug-in hybrid and battery electric vehicle category. The increasing EVs on road signifies a similar growth pattern for on-board chargers which are equipped with them for AC-DC conversion of voltage.

Related Reports:

Global Automotive Inverter Market – Analysis and Forecast, 2019-2029

Global Electric Vehicle Fast Charging System Market – Analysis and Forecast, 2019-2029

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