As the global automotive industry accelerates toward electrification, the on-board charger (OBC) has emerged as a critical component in electric vehicles (EVs). This device converts AC power from charging stations or household outlets into DC power to recharge the vehicle’s battery, making it a vital enabler of convenient and flexible EV charging.  According to Stratview Research, the EV on-board charger market size was US$ 6.5 billion in 2024 and is likely to grow at a decent CAGR of 12.4% in the long run to reach US$ 15.7 billion in 2031.

The EV On-Board Charger Market is set for robust growth, driven by the surging adoption of EVs, supportive government policies, and advancements in fast-charging technologies.

Key Market Drivers

• Rising EV adoption – Growing demand for passenger and commercial EVs is directly boosting OBC installations.
• Government incentives – Subsidies, tax breaks, and emissions regulations are accelerating EV penetration.
• Technological advancements – Development of bidirectional chargers enables vehicle-to-grid (V2G) and vehicle-to-home (V2H) applications.
• Infrastructure expansion – Wider deployment of charging networks complements OBC growth.
• Consumer demand for flexibility – OBCs allow drivers to charge from standard AC outlets, enhancing convenience.

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Regional Insights

• Asia-Pacific dominates the market, led by China, Japan, and South Korea’s rapid EV adoption and strong battery manufacturing base.
• Europe follows, with stringent emission policies and growing EV infrastructure investments.
• North America is expanding steadily, driven by federal EV incentives and state-level green mobility programs.

Outlook

Stratview Research emphasizes that the EV on-board charger market will evolve alongside the global EV boom. The next phase will focus on high-power, lightweight, and bidirectional OBCs, ensuring EVs not only consume power but also become active contributors to smart energy grids.

In essence, the EV on-board charger market is powering more than batteries — it is powering the future of sustainable mobility.