EV High-Voltage Box Market is Forecasted to Reach US$25.9 Billion in 2031, Says Stratview Research

Detroit, Aug. 28, 2025 (GLOBE NEWSWIRE) -- The global EV High-Voltage Box Market size was valued at US$11.3 billion in 2024, and is projected to reach US$25.9 billion by 2031, witnessing a market growth CAGR of 11.5% from 2024 to 2031, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global EV High-Voltage Box Market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

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Market Statistics

Segment Insights & Market Share Analysis of the EV High-Voltage Box Market:

The global EV High-Voltage Box Market is segmented based on Integration type, Component type, On-Board Charger Power Flow type, DC-DC Converter Topology type, power rating type, Propulsion type, vehicle type, and region.

Based on Integration Type-

• The high-voltage box market is segmented into standalone and integrated.
• Standalone high-voltage boxes are expected to remain dominant, while integrated high-voltage boxes are likely to experience the fastest growth during the forecast period.
• Higher design flexibility, easier thermal management, simpler maintenance and replacement of individual units, and wider availability and maturity of standalone solutions in the current supply chain are key factors behind the dominance of standalone solutions.
• However, integrated combo units are experiencing faster growth in the EV high-voltage box market. Key advantages of integrated solutions include space savings, reduced wiring complexity, lower overall system cost, and improved energy efficiency.
• As EV architectures evolve toward more compact and modular designs, and as demand increases for lightweight, cost-effective solutions, these integrated units are becoming increasingly attractive to automakers.

Based on Propulsion Type-

• The high-voltage box market is segmented into BEV and HEV.
• HEV is currently the dominant propulsion type of the market, while BEV is expected to experience the fastest growth over the next six years.
• Wider global adoption of HEV, less dependency on external charging infrastructure, stringent emission norms pushing OEMs to adopt hybrid platforms as a transitional technology, and higher sales volume of HEVs globally, mainly in regions like India, China, and Japan, are some key factors driving their leading position in the current EV high-voltage box market.
• BEVs (battery electric vehicles) are the fastest-growing propulsion type in the market, majorly driven by the global shift toward fully electric transportation.
• This trend is fueled by stringent emissions regulations, government incentives, and rising environmental awareness.
• The increasing focus on longer driving range and faster charging for BEVs is also amplified in terms of demand for efficient high-voltage box systems, which will increase their demand in the coming years.

Based on Component Type-

• The high-voltage box market is segmented into the onboard charger and DC-DC converter.
• On-board charger is expected to remain the dominant in the EV high-voltage box market throughout the forecast period.
• From the components incorporated in high-voltage boxes, the dominance of the on-board charger (OBC) segment in the market is primarily driven by the necessity of OBCs in all plug-in electric vehicles, as they convert AC power from charging stations into DC power required for battery storage.
• As the EV charging infrastructure expands globally and consumers demand faster and more efficient home and public charging, the role of OBCs has become more central to EVs in terms of performance and convenience.
• In addition, the development of OBC technologies, such as high efficiency, light weight, and bi-directional charging capabilities, is speeding up their incorporation into high-voltage boxes.
• OBC performance is becoming an increasingly important differentiator to automakers when it comes to their EV offers, particularly battery electric vehicles (BEVs).
• Although DC-DC converters are also critical, their functionality is quite standardized in comparison to the changing needs and innovation trends that are associated with onboard charging systems.

Based on the On-Board Charger Power Flow Type-

• EV on-board chargers are segmented into unidirectional and bidirectional power flow types.
• Unidirectional on-board chargers (OBCs) continue to dominate the market due to their cost-effectiveness, simplified design, and seamless compatibility with existing EV charging infrastructure.
• Unidirectional on-board chargers adequately meet the standard energy transfer needs of most EV users, making them well-suited for mass-market, entry-level, and mid-range vehicles where affordability and efficiency are critical.
• Their simple design and ease of integration into existing vehicle architectures also enable faster production and deployment by automakers.
• The bidirectional OBCs are expected to grow at a faster rate during the forecast period, driven by increasing interest in advanced energy applications such as vehicle-to-grid (V2G) and vehicle-to-home (V2H).
• Despite their growth potential, bidirectional systems face challenges like higher costs, regulatory uncertainty, and insufficient grid infrastructure, which limit widespread adoption in the short term.

Based on DC-DC Converter Topology Type-

• There are two topology types in DC-DC converters: isolated DC-DC converters and non-isolated DC-DC converters.
• Isolated DC-DC converters are likely to remain dominant and the fastest-growing topology type of the market during the forecast period.
• Isolated DC-DC converters, owing to their enhanced safety and reliable performance, are projected to remain the dominant topology in the EV DC-DC converter market over the coming years.
• By providing galvanic isolation between the high-voltage battery and low-voltage systems, isolated DC-DC converters ensure the protection of sensitive electronic components and enhance passenger safety—a critical requirement in modern electric vehicles, particularly in high-voltage and commercial platforms.
• With the increasing shift toward 400V and 800V EV architectures, the demand for isolated DC-DC converters is growing. These systems not only enable effective power management across various subsystems but also play a key role in preventing electrical faults. Their ability to support complex features like ADAS and infotainment with stable, interference-free power delivery makes them the preferred choice across multiple EV segments.

Based on Vehicle Type-

• The high-voltage box market is segmented into LV and M&HCV. 
• LV is expected to remain the dominant and fastest-growing vehicle type of the market throughout the forecast period.
• High production volumes and widespread adoption of electric passenger cars drive the LV category. These vehicles require efficient power management systems to support on-board electronics, charging functions, and auxiliary systems, roles fulfilled by the high-voltage box.
• Additionally, growing consumer preference for electric cars for daily use and strong government support for cleaner transportation continue to drive LV adoption.
• The demand for compact, cost-effective, and integrated power solutions further reinforces LVs as the primary adopters of high-voltage box systems in the EV ecosystem.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the Asia-Pacific is expected to remain the largest market for EV high-voltage boxes during the forecast period. This growth outlook is majorly attributed to the following–

• Rapid expansion of electric vehicle production in countries like China, Japan, and South Korea drives the Asia-Pacific’s dominance in the market.
• These countries host many of the world’s top EV manufacturers and key suppliers of power electronics, including high-voltage box components, such as DC-DC converters and on-board chargers.

On the other hand, North America is anticipated to be the fastest-growing region, fueled by rising demand for affordable electric vehicles and a well-established automotive supply chain.

EV High-Voltage Box Market Drivers:

Some of the key drivers listed in the report are given below.

• Rising EV Adoption: Increasing demand for electric vehicles due to environmental concerns, fuel cost savings, and advancements in battery technology.
• Expansion of Charging Infrastructure: Development of fast-charging stations and rising public and private charging networks drive the need for efficient OBCs.
• Technological Advancements: Innovations in power electronics, bidirectional charging, and smarter OBCs with enhanced efficiency.
• Battery Performance Improvements: The shift toward higher-capacity and higher-voltage EV batteries demands more advanced on-board chargers (OBCs) capable of efficient power conversion, optimized thermal management, and enhanced safety protocols.
• Increasing vehicle electrical complexity with multiple ECUs, infotainment, safety systems, and ADAS, all of which require stable low-voltage DC power.

Competitive Landscape: Top 5 Companies in the EV High-Voltage Box Market:

Stratview Research has identified the following companies as the top market players:

• Valeo
• BYD Auto Co., Ltd.
• BorgWarner Inc.
• Tesla, Inc.
• Toyota Industries Corporation

What Deliverables Will You Get in this Report?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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• EV On-board Charger Market 

• Electric Vehicle Recycled Battery Materials Market

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