The global car battery chargers market size is projected to reach a value of US$ 40.69 Billion by 2032, with sales growing at a healthy CAGR of 7.0% from the forecast period of 2022 to 2032. Scaling up from an estimated US$ 20.73 Billion in 2022, the car battery chargers market is fueled by the elevated demand for hybrid electric vehicles as well as the overall surge in the production of electric and hybrid vehicles.
The need for automobile battery chargers is impacted by strict regulatory requirements along with high automotive standards relating to hybrid and electric vehicles. In the following years, it is also projected that developments in the automotive sector and rising investment in the industries producing in-vehicle chargers would have a significant impact on the market for car battery chargers. In addition to all of this, the market for automobile battery chargers is growing due to the ongoing increase in the production and sales of battery-operated electronic equipment and devices as well as the development of new, improved, and efficient battery technologies.
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The demand for vehicle battery chargers is also anticipated to increase due to its use in numerous industries, including consumer electronics, automotive, telecommunications, industrial, and information technology. The market for automobile battery chargers is expected to develop as a result of strict pollution control rules, frequent air filter replacement for IC-based engines, and low maintenance and operating costs compared to conventional IC engine-based cars. One of the key factors driving the market for automobile battery chargers is the expansion and development of the electronics industry. The demand for and sales of car battery chargers are anticipated to increase between 2022 and 2032, along with the increased popularity of electronic vehicles and related electronics.
“Expanding electronics and automotive sectors will likely drive the market growth of the car battery chargers over the forecast period,” says an FMI analyst.
Key Takeaways:
- Application in various industry verticals to stimulate market growth.
- Portable chargers segment will likely account for the largest revenue share, registering a 6.9% CAGR over the forecast period.
- In terms of charging type, automatic charging will dominate the market.
- The Asia Pacific region will register the fastest CAGR growth in the car battery chargers market.
- Strong presence of manufacturers to drive market growth in North America.
Competitive Landscape
CTEK Holding AB, Delphi Automotive, Schumacher Electric Corporation, Clore Automotive LLC, Baccus Global LLC, Robert Bosch GmbH, Current Ways Inc, AeroVironment, Inc., and IES Synergy and Chargemaster Plc among others are some of the major players in the car battery chargers market profiled in the full version of the report.
Major market players are focusing on technical collaborations to expand and grow their business. Constant product innovation and development is another strategy deployed by these enterprises to gain a competitive edge.
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More Insights into Car Battery Chargers Market Report
In its latest report, FMI offers an unbiased analysis of the global car battery chargers market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of –
Key segments
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 Battery Capacity:
- Up to 12V
- 12V-48V
- Above 48V
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)
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According to the latest FMI reports, based on region, car battery chargers market in the Asia Pacific region is predicted to show significant growth over the forecast period. China and Japan are the main growth drivers of the region. Presence of several market players and growing government investment in infrastructure for automotive chargers is expected to drive the regional market growth. North America is also expected to undergo notable market growth during this period. Heightened need for car battery chargers from various industries and a strong presence of manufacturers and consumers propels market growth in this region.
Based on segmentation, on the basis of portability, the portable chargers segment is anticipated to lead the market growth with a 6.9% CAGR. The automatic charging segment, too, will likely dominate the global market space during 2022-2032.
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