Automotive Battery Charger Market Size, Share, Growth, and Industry Analysis, By Type (Smart or Intelligent Chargers, Float Chargers, Trickle Chargers, and Automotive Battery Charger), By Application (BEV & PHEV & FCV, and Conventional Chargers) Regional Forecast to 2028

Updated On: 22 April 2024

REPORT OVERVIEW

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The global automotive battery charger market size was in USD 452.4 million 2022. As per our research, the automotive battery charger market is expected to reach USD 579.1 million by 2028, exhibiting a CAGR of 4.2% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

An automotive battery charger is a specialized piece of equipment meticulously crafted for the purpose of replenishing and sustaining the electrical energy stored within a vehicle's battery. These chargers assume an indispensable role in guaranteeing the dependable and effective performance of a wide array of vehicles, encompassing automobiles, trucks, motorcycles, watercraft, and recreational vehicles (RVs). The foremost objective of an automotive battery charger is to rejuvenate a battery that has been drained or only partially utilized, ultimately reinstating it to its maximum energy-holding capacity, thereby enabling the proper operation of the vehicle's electrical system.

COVID-19 Impact:Increased Demand for Maintenance Products among Population to Fuel Market Growth

As a result of lockdowns and restrictions that kept more people at home, there has been a notable uptick in do-it-yourself (DIY) automotive maintenance. This heightened interest in self-care for vehicle batteries and the subsequent acquisition of automotive battery chargers have become prevalent practices to ensure that vehicles continue to function effectively during times when they are not being used extensively.

The global supply chains were thrown into disarray by the pandemic, resulting in disruptions to the production and distribution of  automotive battery chargers. These disruptions, in turn, caused shortages and challenges in meeting the heightened demand for these products, ultimately having an adverse impact on the growth of the market.

LATEST TRENDS

"Smart and Connected Chargers, and Fast Charging Technology to Fuel Market Growth "

Smart and Connected Chargers represent a significant trend within the automotive battery charger market share, showcasing the fusion of cutting-edge technology with traditional charging devices. These chargers incorporate an array of intelligent features and connectivity capabilities that elevate user convenience, safety, and control. Equipped with embedded Wi-Fi or Bluetooth connectivity, smart chargers enable users to remotely oversee and manage the charging process through dedicated smartphone applications.

This functionality empowers users to inspect battery status, initiate or cease charging, and receive notifications and alerts from virtually anywhere with an internet connection. Moreover, these chargers frequently offer real-time diagnostics for assessing the health of a vehicle's battery. By evaluating factors such as voltage, charge level, and overall battery condition, these chargers can furnish users with recommendations and alerts, enabling proactive intervention to address potential battery-related issues. An increasing need emerged for rapid charging solutions capable of swiftly recharging a battery. Fast-charging technology was becoming more readily available and effective.

SEGMENTATION

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By Type

Based on Type automotive battery chargers market is classified as Smart or Intelligent Chargers, Float Chargers, Trickle Chargers, and Automotive Battery Charger.

By Application

Based on Application automotive battery chargers market is classified as BEV & PHEV & FCV, and Conventional Chargers.

DRIVING FACTORS

"Vehicle Electrification to Fuel Market Growth "

Vehicle Electrification significantly catalyzes the automotive battery chargers market growth of the industry, reflecting the increasing embrace of electric vehicles (EVs) and hybrid vehicles. As a growing number of consumers opt for electric vehicles to reduce their environmental footprint and embrace energy-efficient mobility solutions, there is a concurrent surge in demand for EV charging infrastructure, including residential charging solutions. Automotive battery chargers play a pivotal role in ensuring that EVs remain charged and ready for operation.

"Vehicle Age and Maintenance to Stimulate Market Progress"

As vehicles in circulation progressively mature, the demand for efficient maintenance and vigilant battery upkeep becomes progressively imperative. Aging vehicles are susceptible to the deterioration and deterioration of their batteries, rendering the employment of  automotive battery chargers essential for assuring steadfast performance. With the passage of time, vehicle batteries naturally deteriorate, leading to a decline in their ability to retain a charge. The automotive battery chargers are indispensable instruments for revitalizing and prolonging the longevity of aged batteries, delaying the requirement for expensive replacements."

RESTRAINING FACTORS

"Limited EV Charging Infrastructure to Harm Market Growth "

Despite the growing adoption of electric vehicles (EVs), certain regions still face challenges related to the limited availability of public charging infrastructure. This limitation has the potential to dissuade prospective EV owners and, consequently, impact the demand for  automotive battery chargers designed specifically for EVs.

REGIONAL INSIGHTS

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"North America stimulated the demand for EV chargers to Drive Market Share  "

The electric vehicle market in North America has undergone significant expansion, resulting in a considerable automotive battery chargers market share for EV chargers. This growth has been further fueled by government incentives and rebates specifically targeting electric vehicle owners, a pivotal factor in promoting EV adoption and the subsequent development of charging infrastructure. Furthermore, the region's substantial automotive battery chargers market share in the automotive aftermarket industry has contributed significantly to the battery charger market's overall growth, particularly in applications related to vehicle maintenance and repair.

KEY INDUSTRY PLAYERS

"Multitude of companies that played a pivotal role in expansion of automotive battery chargers"

The automotive battery charger market comprises numerous significant industry participants, encompassing both longstanding enterprises and emerging pioneers. These entities are actively engaged in the development, production, and distribution of a diverse array of automotive battery chargers. For instance, Schumacher holds a prominent position in the automotive battery charger market, renowned for its comprehensive lineup of battery chargers, maintainers, jump starters, and complementary accessories.

List of Market Players Profiled

• CTEK Holding AB (U.S.)
• Robert Bosch (Germany)
• Current Ways Inc. (U.S.)
• Clore Automotive LLC (U.S.)
• NOCO Company (U.S.)

REPORT COVERAGE

The future demand for the automotive battery charger market is covered in this study. The Research report includes the Impact of Increased Demand for Maintenance Products among Population due to the Covid-19 Impact. The report covers the latest trends automotive battery charger market growth. The paper includes a segmentation of the automotive battery charger market. The research paper includes the driving factors that are Vehicle Electrification to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for automotive battery charger.