FMI delivers key insights on the global car battery chargers market in its latest report titled “Car Battery Chargers Market: Global Industry Analysis and Opportunity Assessment 2017-2027”. The long-term outlook of the global car battery chargers market remains positive with the market value expected to increase at a CAGR of 7.1% during the forecast period (2017-2027). Among the charging type segments, the automatic charging segment in the car battery chargers market is expected to expand at a CAGR of more than 7% in terms of value over the forecast period. The global car battery chargers market for smart chargers is estimated to reach more than US$ 900 Mn by the end of 2027. North America accounted for a value share of 25% in the global car battery chargers market by the end of 2017, and is expected to dominate the market during the forecast period as well. In this report, FMI throws light on the drivers and restraints likely to impact the car battery chargers market during this period.
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Government Incentives and Rising Demand for Electric Vehicles are expected to drive the Market for Car Battery Chargers
The high purchasing power of customers has boosted the growth of conventional vehicles on road. Governments of several countries have taken initiatives to bring down pollution levels by implementing rules on the usage of conventional vehicles and increasing the taxes associated with it. Government agencies are also leveraging on the rise of hybrid and electric vehicles by offering attractive incentives and subsidies to the owners of such vehicles. In China, the government offers a subsidy of US$ 6,750 to US$ 14,000 to customers, depending on the size of the battery pack, to every purchase of an electric or hybrid vehicle. Major cities such as Beijing and Shanghai offer free registration plates to the customers of electric vehicles. In the United States, the government has allocated grants of about US$ 2.4 Billion for the development of electric vehicles and high density batteries. The government has also granted incentives to the customers of electric vehicles in the form of tax credits, amounting to a maximum of US$ 7,500 based on the type of battery the electric vehicle uses.
Segmentation Analysis of the Car Battery Chargers Market
The car battery chargers market has been segmented on the basis of charging type, charger type, portability, battery capacity, product type, and application.
- Portable car battery chargers are expected to be the most prominent segment in terms of volume and value over the forecast period. The portable car battery chargers segment of the car battery chargers market is estimated to grow at a CAGR of 6.9% in terms of value over the forecast period. It is expected to represent a total incremental opportunity of US$ 1 Bn between 2017 and 2027 in the car battery chargers market. Plug-in car battery chargers are projected to grow at a relatively high CAGR as compared to portable car battery chargers over the forecast period
- Personal use is projected to be the most prominent application in the car battery chargers market. The personal use segment in the car battery chargers market is estimated to grow at a significant CAGR in terms of value over the forecast period
- The 12V-48V segment is the most prominent battery capacity segment in the car battery chargers market. It is estimated to hold more than 75% of the car battery chargers market throughout the forecast period
- The automatic charging type segment is estimated to lead the market for car battery chargers during the forecast period
Regional Market Projections for the Car Battery Chargers Market
The car battery chargers market in North America is expected to represent a significantly high incremental opportunity between 2017 and 2027. The North America car battery chargers market is expected to represent a total incremental opportunity of US$ 264.7 Bn between 2017 and 2027.
Car Battery Chargers Market: Market Participants
This report highlights some of the top companies operating in the car battery chargers market, which include 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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