Automotive Charging System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 -2024
- Transparency Market Research
An automobile battery provides sufficient amount of energy to the electrical components in the automobile such as wipers, starting motor and head lights. However, the capacity of this battery is limited and it is incapable of supplying continuous power to the automobile for an extended period of time. Thus, it is of utmost importance to keep the battery fully charged in order to supply an uninterrupted flow of electricity to each of the electrical components at the required time. The automobile consequently requires a charging system that helps to produce the required level of electricity, thereby keeping the battery in a fully charged condition. Two basic types of charging systems have been in use for automotive charging. DC generators were in use previously, which were discontinued in the 1960s. Since then, the AC alternator has been the charging device of predominant use. However, both DC generator and AC alternator use the similar operating principles.
The primary function of the automotive charging system is to power all the electrical systems and components in the automobile and supply electrical energy which is needed to charge the battery. The automotive charging system enables the production of electricity to supply it in required amount to the electrical components and recharge the battery, while the engine is running. It is this charging system which generates the current to operate all the electrical accessories of the automobile while the engine is in operation. In case of an increase in the electrical demand and a drop in the output of the charging system equal to the battery’s voltage, the charging system and the battery work together to supply the current.Rapid technological advancements that are aimed at developing efficient charging solutions is fueling the growth of the global automotive charging system market. Additionally, growing awareness and the ongoing environmental friendly efforts worldwide is driving the demand for electric vehicles, which in turn is boosting the growth of the automotive charging system market.
The global automotive charging system market can be segmented on the basis of charging voltage level into Level 1, Level 2 and Level 3. Level 1 charging level ranges form 0V-120V, level 2 ranges from 121V-240V and Level 3 ranges from 241V and above. Out of these, the Level 2 chargers are expected to gain the higher share of the global market, owing to their suitability of application for both commercial and home applications Based on the mode of charging, the market can be bifurcated into wireless charging systems and plug-in charging systems. Further, the global automotive charging market can be segmented, on the basis of components into, alternator, voltage regulator, battery, drive belt and others. In addition, the market can be geographically classified broadly into five regions, namely: North America, Europe, Asia Pacific, South America and Middle East and Africa. The highest penetration of electric vehicles is observed in the developed regions of North America and Europe, which in turn is strongly driving the growth of the automotive charging systems market in these regions. Asia Pacific represents the most lucrative market for automotive charging systems owing to the rapidly increasing number of electric vehicles in the emerging countries of this region. The major countries contributing to the growth of the market include China, Taiwan, South Korea and Japan.
The major players in the automotive charging system market include AeroVironment Inc. (U.S.), General Electric Company (U.S), Tesla Motors, Inc. (U.S.), Siemens AG (Germany), Delphi Automotive LLP (U.S.), Evatran Group, Inc. (U.S.), Schneider Electric SE (France), ClipperCreek, Inc. (U.S.), Eaton Corporation Plc. (Ireland), Elektromotive Limited (U.K.), Robert Bosch GmbH (Germany) and Delta Electronics Inc. (Taiwan) among others.
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