Electric Supercharger Market Size & Share, By Product Type (48V Electric Super Charger, 24V Electric Super Charger, and 12V Electric Super Charger), Vehicle Type (Passenger Vehicles and Commercial Vehicles), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Electric Supercharger Market crossed USD 17.06 Billion in 2023 and is expected to reach USD 54.18 Billion by end of the year 2032, observing around 13.7% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 17.06 Billion
• CAGR (2024-2032): 13.7%
• Forecast Year Value (2032): USD 54.18 Billion
• Historical Data Period: 2019-2023
• Largest Region: Europe
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing demand for fuel-efficient vehicles and the growing popularity of electric vehicles are key growth drivers for the electric supercharger market. Electric superchargers help enhance the performance of vehicles while also improving fuel efficiency, making them a preferred choice among consumers.

Another major growth driver for the electric supercharger market is the stringent emission norms imposed by governments across the globe. Electric superchargers help reduce emissions by improving engine efficiency, thereby aligning with the strict emission regulations in place.

The technological advancements in electric superchargers, such as the development of compact and lightweight designs, are providing significant growth opportunities for the market. These advancements help in enhancing the overall performance of vehicles without compromising on efficiency.

Report Scope

Report Coverage	Details
Segments Covered	Product Type, Vehicle Type
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Ford Motor Company, Robert Bosch, Valeo, Duryea Technologies, Continental AG, Aeristech.

Industry Restraints:

The high cost associated with electric superchargers remains a major restraint in the market. The initial investment required for purchasing and installing these superchargers can be a deterrent for some consumers, limiting the market growth to an extent.

Moreover, a significant challenge for the electric supercharger market is the lack of infrastructure for electric vehicles in many regions. The limited availability of charging stations and other necessary infrastructure can hinder the adoption of electric superchargers, posing a challenge for market growth.

Regional Forecast:

North America: The U.S. is expected to dominate the electric supercharger market due to the presence of major automotive manufacturers and increasing demand for high-performance vehicles. Canada is also projected to contribute to market growth with a growing automotive industry and focus on technological advancements.

Asia Pacific: China leads the electric supercharger market in the region with a rapidly expanding automotive sector and government initiatives to promote electric vehicles. Japan and South Korea are also key players in the market, driven by technological advancements and increasing adoption of electric vehicles.

Europe: The United Kingdom is a significant market for electric superchargers, driven by stringent emission regulations and demand for fuel-efficient vehicles. Germany and France are also expected to witness growth in the market, supported by the presence of leading automotive manufacturers and increasing investment in electrification technologies.

Segmentation Analysis:

In terms of segmentation, the global Electric Supercharger market is analyzed on the basis of Product Type, Vehicle Type.

Electric Supercharger Market

48V Electric Super Charger:

The 48V electric supercharger segment is expected to witness significant growth in the market due to the increasing demand for high-performance vehicles and the growing trend towards electric vehicles. These superchargers provide improved engine efficiency and power output, making them ideal for high-performance applications in passenger vehicles and commercial vehicles.

24V Electric Super Charger:

The 24V electric supercharger segment is anticipated to experience steady growth in the market as it offers a balance between performance and cost-effectiveness. These superchargers are widely used in passenger vehicles and commercial vehicles to enhance engine performance and fuel efficiency, driving the demand for this product type in the market.

12V Electric Super Charger:

The 12V electric supercharger segment is projected to show moderate growth in the market, primarily driven by the increasing adoption of electric vehicles and the focus on reducing emissions and improving fuel efficiency. These superchargers are commonly used in passenger vehicles and commercial vehicles to boost engine power and torque, making them a popular choice among vehicle manufacturers.

Vehicle Type Analysis

Passenger Vehicles:

The passenger vehicles segment is expected to dominate the electric supercharger market, fueled by the rising demand for high-performance and fuel-efficient vehicles among consumers. Electric superchargers offer various benefits such as improved engine performance, reduced emissions, and enhanced fuel efficiency, making them attractive for use in passenger vehicles across various vehicle classes and models.

Commercial Vehicles:

The commercial vehicles segment is projected to witness considerable growth in the market, driven by the increasing focus on reducing operating costs and enhancing vehicle performance. Electric superchargers are increasingly being adopted in commercial vehicles to improve engine efficiency, power output, and overall performance, driving the demand for these products in the market.

Competitive Landscape:

The competitive landscape in the Electric Supercharger Market is rapidly evolving, characterized by significant advancements in technology and a growing number of industry players. Major automakers and specialized charging infrastructure companies are investing heavily in research and development to create faster and more efficient charging solutions that can cater to the increasing demand for electric vehicles. The market is witnessing strategic partnerships and collaborations aimed at expanding charging networks and improving service offerings. Additionally, government incentives and regulations promoting sustainable transportation have intensified competition, compelling companies to innovate and enhance their product offerings to attract consumers. With a focus on reducing charging times and increasing accessibility, the race for market leadership continues to heat up among key players in the industry.

Top Market Players

- Tesla Inc.

- ChargePoint Holdings Inc.

- EVBox B.V.

- Blink Charging Co.

- Siemens AG

- ABB Ltd.

- Electrify America LLC

- Schneider Electric SE

- Shell Recharge Solutions

- Hyundai Motor Group