The estimated CAGR for the global market is 7.1%. This is primarily due to growth in demand by consumers for electric cars, owing to stringent government regulations and environment-friendly operations of electric cars.
Albany, NY -- (SBWIRE) -- 08/25/2017 -- Continuing environmental concerns are moving electric vehicles into high gear of development. These electric vehicles require battery chargers to run properly. Presently, a new revolution in battery chargers has turned up in the market with unique wireless charging method for a various range of car batteries. Market Research Reports Search Engine (MRRSE) has recently included a new report into its vast repository, which is titled as "Car Battery Chargers Market: Global Industry Analysis and Opportunity Assessment, 2017-2027". According to this study, the car battery chargers market has a significant impact in the global market, and a growing electric cars market is projected to fuel growth in demand for electric car battery chargers.
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Car battery charger is a device needed in emergency situations, which provides energy to the battery by transferring current to flow through it. The type of car battery charger depends on the battery type and also on the capacity and technology being used. Various types of car battery chargers include float chargers, trickle chargers and smart battery charger. As per the research estimations, In terms of volume, the global car battery chargers market is expected to witness remarkable sales of electric car battery chargers during 2017, increasing the share by the end of 2027. Within the given forecast period, the estimated CAGR for the global market is 7.1%. This is primarily due to growth in demand by consumers for electric cars, owing to stringent government regulations and environment-friendly operations of electric cars.
Further, the study segments the market on the basis of charging type, charger type, portability, battery capacity and by product type. The major type covers car battery chargers and electric car battery chargers. The charging type process includes manual as well as automatic charging. It has also been analyzed that these cars have battery capacity up to 12V, 12V-48V and above 48V. For each segment, the research presents insights on the important factors, untapped opportunities for manufacturers, trends and developments that are shaping the dynamics of market.
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Geographically, the research throws lights on some prime regions including Latin America, North America, Eastern Europe, Western Europe, APEJ, MEA and Japan. The report identifies the drivers and restraints affecting the evolution of the global car battery chargers market across the seven assessed regions. In terms of geography, the electric car battery chargers market is rapidly growing in APEJ countries such as China, which is the largest market for electric car batteries in the region, India, South Korea and ASEAN countries. A boom in sales of electric cars has been witnessed in China in the year 2017. This rise in the sales is likely to fuel the growth in demand for electric car battery chargers.
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