According to forecasts, the Car Battery Chargers Market is expected to be USD 22.09 Billion in 2023 and USD 43.47 Billion by 2033.
The use of smart charging for electric vehicles to optimize energy usage based on energy cost, grid constraints, and renewable energy availability is projected to assist battery charger market expansion.
Energy technology advances due to the Internet of Things (IoT) being used to gather much data from distributed nodes. The smart farm in the agricultural sector collects information from several nodes dispersed around the farmed field on weather, soil moisture content, evaporation, and other factors. These nodes run on batteries and rely on intelligent solar-powered battery charging devices.
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The market for battery chargers is anticipated to develop due to the adoption of smart charging for electric vehicles to optimize energy use depending on energy pricing, grid constraints, and the availability of renewable energy. Due to internal enthalpy changes, electrochemical polarization, and resistive heating, the batteries’ reduced performance is impeding the market’s growth.
Key Takeaways
- By 2033, the car battery chargers market in the United Kingdom is likely to expand, with a CAGR of 7.2%.
- In 2023, the United States is expected to develop the car battery chargers business with a share of 14.7%.
- The car battery chargers market grew considerably to US$ 20.73 billion in 2022.
- The car battery chargers sector expanded at a CAGR of 6.6% from 2018 to 2022.
- By 2033, China’s car battery chargers market is projected to develop with a CAGR of 7.9%.
- By 2033, India’s car battery chargers industry is projected to expand with a CAGR of 7.4%.
- Japan’s car battery chargers industry is likely to grow significantly, with a 7.1% share in 2023.
- Australia’s car battery chargers are expected to develop with a share of 1.2 in 2023.
- Germany’s car battery chargers business is expected to grow, with a share of 5.5%% in 2023.
- In 2023, based on the charging type, the automatic chargers segment is expected to dominate the market, with a share of 31.2%.
- In 2023, a car battery charger segment is expected to dominate the market, with a share of 35.4%, based on product type.
Key Players of Car Battery Chargers Market
- CTEK Holding AB
- Delphi Automotive
- Schumacher Electric Corporation
- Clore Automotive LLC
- Baccus Global LLC
- Robert Bosch GmbH
- Current Ways Inc
- AeroVironment, Inc.
- IES Synergy and Chargemaster Plc
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Key segments of Car Battery Chargers Market
By Charging Type:
- Manual Charging
- Automatic Charging
By Charger Type:
- Smart/Intelligent Charger
- Float Charger
- Trickle Charger
By Portability:
- Plug-In Charger
- Portable Charger
By Product Type:
- Car Battery Charger
- Electric Car Battery Charger
By Application:
- Garage
- Personal Use
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
Competitors Winning Strategies
Models for vehicles such as cars, motorcycles, ATVs, delivery trucks, and snowmobiles are among the new car battery chargers. Electric vehicles are expected to be utilized regularly for commercial and private transportation in this new era of mobility. Also, technical cooperation has significantly impacted the entire expansion of the car battery charger sector.
Recent Development:
- A bi-directional onboard battery charger from Bel Power Solutions with an efficiency of over 94% and the ability to connect up to four charging units in parallel was made available in January 2021. According to Bel Power, this charger charges EV batteries directly from the grid or a charging station.
- At CES 2023, the premier technology event in the world, ABB E-mobility unveiled its ground-breaking Terra Home charging system. By the middle of 2023, it should be available for purchase. Terra Home’s distinctive design enables consumers to maximize their use of renewable energy, thus lowering their carbon footprint.
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