Market Overview:
The global on-board power converter market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles and hybrid vehicles across the globe. Additionally, stringent government regulations pertaining to emissions are also propelling the demand for on-board power converters in passenger cars and commercial vehicles. Based on type, the global on-board power converter market is segmented into 12V, 24V, 48V and above segments. The 12V segment is expected to account for a major share of the global market in 2018 owing to its low cost and easy installation as compared to other voltage segments. However, with increasing demand for electric vehicles and hybrid vehicles, 48V and above voltage segments are projected to witness higher growth rates during the forecast period from 2018to 2030.
Product Definition:
An on-board power converter is a device that takes alternating current (AC) from the wall outlet and converts it into direct current (DC) to run electronic devices, such as laptops. The importance of on-board power converters is that they provide a safe and reliable way to convert AC to DC without having to use an external power supply.
12V:
On-board power converters are devices that convert the low voltage (12V) from the main battery to a higher voltage suitable for accessories. The 12V supply is used by electronic components such as GPS systems, mobile phones, tablets and other portable devices.
The global on-board power converter market size was valued at USD 1.5 billion in 2015 and is expected to witness significant growth over the forecast period owing to its rising usage in passenger cars.
24V:
The 24V power supply is used in on-board power converters. It helps in providing stable and reliable power to the devices connected to it. The 24V systems are widely used for industrial applications such as forklifts, material handling equipment, construction equipment, etc.
24 VDC system can provide up to 90 A at 0°C with a frequency of 50 hertz which makes it suitable for heavy industrial usage such as forklift trucks.
Application Insights:
The passenger cars segment held the largest share of over 50.0% in 2017. The demand for on-board power converters is expected to increase with the rising sales of passenger cars due to their ability to travel long distances and handle rough terrains. Moreover, growing urbanization along with increasing disposable income among consumers in developing countries such as China and India will further propel market growth over the forecast period.
Increasing adoption of electric vehicles across regions coupled with rising awareness regarding environment protection is projected to drive demand for on-board power converters in commercial vehicles, which are used mainly for trucks, busses.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing demand for automobiles in countries such as China and India. Furthermore, rising disposable income coupled with an increase in spending power are estimated to fuel the growth further. The region has witnessed significant developments in electric vehicles and hybrid cars which will drive the on-board power converter market growth over the forecast period.
Europe accounted for more than 25% of global revenue share in 2017 owing to stringent government regulations regarding vehicular emissions coupled with growing emphasis on reducing dependency on fossil fuels for energy supply, thereby boosting sales of electric vehicles across European countries such as Germany, France and Italy among others will have a positive impact on industry expansion over next eight years. North America is also projected to witness steady growth due high adoption rate of advanced technologies across this region especially U S where major automobile manufacturers including General Motors Company; Ford Motor Company; Tesla Inc.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This will lead to an increase in the demand for on-board power converters as they are used to convert the DC power from batteries into AC power that can be used by various electrical components in the vehicle.
- Rising demand for renewable energy: Renewable energy sources such as solar and wind are becoming increasingly popular due to their environmental benefits and falling costs. This is leading to an increase in investments in renewable energy projects, which will drive the growth of the on-board power converter market during the forecast period.
- Growing popularity of hybrid and electric vehicles: Hybrid and electric vehicles are becoming more popular due to their lower emissions and fuel costs as compared with traditional gasoline or diesel-powered vehicles. This is driving OEMs towards development of new hybrid and electric models, which will create opportunities for on-board power converter manufacturers in coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
On-board Power Converter Market Research Report
By Type
12V, 24V, 48V and Above
By Application
Passenger Cars, Commercial Vehicles
By Companies
Bestek, NFA, Cobra, Kisae Technology, Rally, Energizer, Duracell, Meind, Stanley, Exeltech, Cotek, Samlex, Power Bright, Go Power, Wagan Tech, Magnum Energy, WEHO, Erayak
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global On-board Power Converter Market Report Segments:
The global On-board Power Converter market is segmented on the basis of:
Types
12V, 24V, 48V and Above
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Cars, Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bestek
- NFA
- Cobra
- Kisae Technology
- Rally
- Energizer
- Duracell
- Meind
- Stanley
- Exeltech
- Cotek
- Samlex
- Power Bright
- Go Power
- Wagan Tech
- Magnum Energy
- WEHO
- Erayak
Highlights of The On-board Power Converter Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 12V
- 24V
- 48V and Above
- By Application:
- Passenger Cars
- Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the On-board Power Converter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An on-board power converter is a device that converts AC power to DC power so that it can be used in electronic equipment.
Some of the major players in the on-board power converter market are Bestek, NFA, Cobra, Kisae Technology, Rally, Energizer, Duracell, Meind, Stanley, Exeltech, Cotek, Samlex, Power Bright, Go Power, Wagan Tech, Magnum Energy, WEHO, Erayak.
The on-board power converter market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 On-board Power Converter Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 On-board Power Converter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 On-board Power Converter Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the On-board Power Converter Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global On-board Power Converter Market Size & Forecast, 2018-2028
4.5.1 On-board Power Converter Market Size and Y-o-Y Growth
4.5.2 On-board Power Converter Market Absolute $ Opportunity
Chapter 5 Global On-board Power Converter Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 On-board Power Converter Market Size Forecast by Type
5.2.1 12V
5.2.2 24V
5.2.3 48V and Above
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global On-board Power Converter Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 On-board Power Converter Market Size Forecast by Applications
6.2.1 Passenger Cars
6.2.2 Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global On-board Power Converter Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 On-board Power Converter Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America On-board Power Converter Analysis and Forecast
9.1 Introduction
9.2 North America On-board Power Converter Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America On-board Power Converter Market Size Forecast by Type
9.6.1 12V
9.6.2 24V
9.6.3 48V and Above
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America On-board Power Converter Market Size Forecast by Applications
9.10.1 Passenger Cars
9.10.2 Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe On-board Power Converter Analysis and Forecast
10.1 Introduction
10.2 Europe On-board Power Converter Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe On-board Power Converter Market Size Forecast by Type
10.6.1 12V
10.6.2 24V
10.6.3 48V and Above
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe On-board Power Converter Market Size Forecast by Applications
10.10.1 Passenger Cars
10.10.2 Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific On-board Power Converter Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific On-board Power Converter Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific On-board Power Converter Market Size Forecast by Type
11.6.1 12V
11.6.2 24V
11.6.3 48V and Above
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific On-board Power Converter Market Size Forecast by Applications
11.10.1 Passenger Cars
11.10.2 Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America On-board Power Converter Analysis and Forecast
12.1 Introduction
12.2 Latin America On-board Power Converter Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America On-board Power Converter Market Size Forecast by Type
12.6.1 12V
12.6.2 24V
12.6.3 48V and Above
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America On-board Power Converter Market Size Forecast by Applications
12.10.1 Passenger Cars
12.10.2 Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) On-board Power Converter Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) On-board Power Converter Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) On-board Power Converter Market Size Forecast by Type
13.6.1 12V
13.6.2 24V
13.6.3 48V and Above
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) On-board Power Converter Market Size Forecast by Applications
13.10.1 Passenger Cars
13.10.2 Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 On-board Power Converter Market: Competitive Dashboard
14.2 Global On-board Power Converter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bestek
14.3.2 NFA
14.3.3 Cobra
14.3.4 Kisae Technology
14.3.5 Rally
14.3.6 Energizer
14.3.7 Duracell
14.3.8 Meind
14.3.9 Stanley
14.3.10 Exeltech
14.3.11 Cotek
14.3.12 Samlex
14.3.13 Power Bright
14.3.14 Go Power
14.3.15 Wagan Tech
14.3.16 Magnum Energy
14.3.17 WEHO
14.3.18 Erayak
