The global automotive battery charger market is anticipated to grow at a CAGR of 7.5% during the forecast period (2022-2028). An automotive battery charger is exactly like a cellphone or laptop charger; however, it is designed for a car or truck battery. These devices plug into an electrical outlet on one end (source of power) and connect to a car’s battery terminals with cables that resemble jumper/booster cables. The market growth is majorly attributable to the rising demand for electric vehicles owing to the stringent government regulations on polluting vehicles. Apart from this, the constant advancements made to improve the battery charging stations in various economies is also likely to positively impact the global automotive battery charger market. Additionally, the novel concept of portable car battery chargers is also supporting the charging of car batteries anywhere and can be specifically in case of an emergency.
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In addition to this, the provision of subsidy for such vehicle manufacturers also boosts the electric vehicles, and thereby driving the automotive battery charger market. Further, increasing utilization of number of commercial buses in various countries is also positively affecting the growth of the market. For instance, China is considered to be far ahead from other countries in utilization of electric buses. According to the Institute of Education Sciences (IES), China has more than 421,000 electric buses in different cities of China with around a rate of circulation of 9,500 buses every 5 weeks. In 2018, nearly 99% of e-buses in circulation across the globe were situated in China that had decreased the demand for barrels of diesel by more than 270,000 barrels at the end of 2019. Therefore, the rising demand for electric vehicles owing to the environmental benefits is attributing to the growth of the market.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape: BorgWarner Inc., Robert Bosch GmbH, and Schumacher Electric Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Battery Charger Market Report by Segment
By Type
- Manual Charging
- Automatic Charging
By Application
- Conventional Chargers
- Electric/Hybrid Vehicle Battery Chargers
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