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NEWARK, DE / ACCESSWIRE / September 23, 2022 / The global car battery chargers market is projected to reach a value of US$ 40.69 Bn by 2032, with sales growing at a healthy CAGR of 7.0% from the forecast period of 2022 to 2032. Scaling up from an estimated US$ 20.73 Bn in 2022, the car battery chargers market is fueled by the elevated demand for hybrid electric vehicles as well as the overall surge in the production of electric and hybrid vehicles.
Stringent regulatory conditions coupled with high automotive standards related to hybrid and electric vehicles have an effect on the demand for car battery chargers. Progress in the automotive industry and increasing investment in the in-car charger manufacturing businesses are also anticipated to have a major influence on the car battery charger market in the upcoming years. In addition to all this, the constant swell in the manufacturing and sales of battery-operated electronic devices and equipment as well as the introduction of novel, enhanced, and efficient battery technologies aid in the expansion of the car battery chargers market.
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Furthermore, owing to its application in diverse sectors like the consumer electronics, automotive, telecommunications, industrial, and information technology, the demand for car battery chargers is expected to scale new heights. Rigid emission control regulations, regular air filter replacement for IC-based engines, and affordable maintenance and operating expenses in comparison to traditional IC engine-based cars will likely propel the market growth for car battery chargers. The growth and development of the electronics sector is one of the primary market drivers for car battery chargers. With rising demand for electronic vehicles and related gadgets, the demand and sales of car battery chargers is also expected to grow during 2022 to 2032.
“Expanding electronics and automotive sectors will likely drive the market growth of the car battery chargers over the forecast period,” says an FMI analyst.
CTEK Holding AB, Delphi Automotive, Schumacher Electric Corporation, Clore Automotive LLC, Baccus Global LLC, Robert Bosch GmbH, Current Ways Inc, AeroVironment, Inc., and IES Synergy and Chargemaster Plc among others are some of the major players in the car battery chargers market profiled in the full version of the report.
Major market players are focusing on technical collaborations to expand and grow their business. Constant product innovation and development is another strategy deployed by these enterprises to gain a competitive edge.
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More Insights into Car Battery Chargers Market Report
In its latest report, FMI offers an unbiased analysis of the global car battery chargers market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of charging type (manual charging, automatic charging), charger type (smart/ intelligent charger, float charger, trickle charger), portability (plug-in charger, portable charger), battery capacity (up to 12V, 12V-48V, above 48V), product type (car battery charger, electric car battery charger), application (garage, personal use), and region.
According to the latest FMI reports, based on region, car battery chargers market in the Asia Pacific region is predicted to show significant growth over the forecast period. China and Japan are the main growth drivers of the region. Presence of several market players and growing government investment in infrastructure for automotive chargers is expected to drive the regional market growth. North America is also expected to undergo notable market growth during this period. Heightened need for car battery chargers from various industries and a strong presence of manufacturers and consumers propels market growth in this region.
Based on segmentation, on the basis of portability, the portable chargers segment is anticipated to lead the market growth with a 6.9% CAGR. The automatic charging segment, too, will likely dominate the global market space during 2022-2032.
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