Car Charger Market Latest Innovation, Upcoming Trends, Top Companies, CAGR of 7.60% , Regional Analysis and Forecast by 2032
Apr 23, 2024
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Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Car Charger Market Information by Charging Type, Charger Type, Portability, Battery Capacity, Product Type, Application, and Region — Forecast till 2032," The Car Charger market is on its way to go from USD 23.46 Billion in 2023 to USD 42.15 Billion by 2032, at a rate of 7.60% from 2023 to 2032. Car chargers, also known as vehicle chargers or automotive chargers, are devices used for charging electronic gadgets such as smartphones, tablets, laptops and other portable devices while inside a car. They are usually connected to the cigarette lighter socket (also referred to as a 12-volt accessory socket), which is located in most vehicles.
The forms and designs of car chargers are diverse, though they generally include one or more ports through which charging cables connect with devices and a plug that inserts into car power outlets. Depending on the charger's model and the devices being charged, plugs may use different connector types, such as USB-A, USB-C or proprietary connectors.
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Market Competitive Landscape:
- 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.
Market Drivers:
The car charger market has grown rapidly due to the rising adoption of electric vehicles (EVs), smartphones, and connected and smart car accessories.Increased electric vehicle sales are driving the car charger industry. As the automotive industry switches to electric cars, home and public electric car chargers are in demand. As governments globally promote EV use and build charging infrastructure, this trend may continue.
Consumers are seeking portable charging options for smartphones, tablets, laptops, and other portable electronics as their use of them grows. Car chargers make charging gadgets on commutes and road trips convenient.The car charger industry is evolving due to rapid and wireless charging technology. Customers want quick chargers that work with many gadgets. Smart car chargers with Bluetooth, voice control, and smartphone applications are popular among techies. These chargers allow users to check charging status, establish charging schedules, and more.
Car chargers are accessible online, at automotive shops, electronics stores, and petrol stations. This increased accessibility is growing the industry by reaching more consumers. Also, rising environmental consciousness drives demand for eco-friendly charging alternatives. To attract eco-conscious customers, manufacturers are inventing energy-efficient chargers and employing sustainable materials.
Market Restraints:
Manufacturers of car chargers need to rapidly develop fast-charge technology to meet the increasing demand for faster charging rates. Developing high-speed charging units for cars is a complex task that requires constant innovation, capital investments and safety and dependability. This could turn out to be quite an issue for the players and the global market in the long run.
Market Segmentation
The car charger market is segmented by charging type into manual and automatic.
Charger Types in the market are Smart/Intelligent, Float, and Trickle in the Car Charger Market.
The car charger market is divided by portability into plug-in and portable chargers.
Depending on the battery capacity, the car charger market is divided into Up to 12V, 12V-48V, and Above 48V.
Car Charger Market segmentation by Product Type covers Car Battery Charger and Electric Car Battery Charger.
Application-based Car Charger Market segmentation covers Garage and Personal Use.
Regional Insights
North American Car Charger market is leading due to the increasing incentives for installing charging stations in residential dwelling places and corporate settings. Moreover, there is a growing government drive in this area aimed at reducing constraints on customers’ adoption of EVs and installation of charging stations.
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