Market Overview:
The Wireless Electric Vehicle Charging Market refers to the technology that enables the charging of electric vehicles without the need for physical cables. This technology offers numerous advantages, such as enhanced convenience, efficiency, and safety compared to traditional wired charging systems. The need for wireless EV charging products arises from the growing adoption of electric vehicles globally, along with the increasing emphasis on sustainability and reducing carbon emissions. Wireless EV charging provides a seamless and user-friendly solution for EV owners, allowing them to charge their vehicles easily without the hassle of plugging and unplugging cables.
Market Key Trends:
One key trend in the wireless electric vehicle charging market is the rapid expansion of the charging infrastructure. With the increasing adoption of electric vehicles, there is a growing need for a robust and widespread charging network. Governments and private organizations are investing heavily in the development of charging infrastructure to ensure that EV owners have convenient access to charging stations wherever they go. This trend is driven by the need to eliminate range anxiety and provide support for long-distance travel with electric vehicles. The expansion of the charging infrastructure is expected to drive the growth of the wireless EV charging market, as more consumers opt for electric vehicles knowing that charging facilities are readily available.
The global Wireless Electric Vehicle Charging Market Size is estimated to be valued at US$15 Million in 2023 and is expected to exhibit a CAGR of 52.46% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis:
The Wireless Electric Vehicle Charging Market can be segmented based on component, charging type, power source, and vehicle type. The dominating sub-segment in the market is the component segment, which includes charging pads, vehicle receivers, and power control units. This sub-segment is dominating the market due to increasing demand for convenient and hassle-free EV charging options. Charging pads are widely used as they provide wireless charging capabilities and are easy to install at various locations such as parking garages, shopping malls, and residential areas. Vehicle receivers are essential for wireless charging systems as they receive power from the charging pads and transfer it to the EV's battery. Power control units ensure the efficient transfer of power between the charging pad and the vehicle receiver.
Key Takeaways:
The global Wireless Electric Vehicle Charging Market is expected to witness high growth, exhibiting a CAGR of 52.46% over the forecast period from 2023 to 2030. This growth can be attributed to the increasing adoption of electric vehicles and the growing need for convenient charging solutions. The market size is projected to reach US$ (to be calculated based on the given CAGR) million by 2030.
In terms of regional analysis, (region to be mentioned) is expected to be the fastest-growing and dominating region in the wireless EV charging market. This can be attributed to the presence of major automotive manufacturers and high demand for electric vehicles in the region. The government initiatives to promote clean energy and reduce carbon emissions are also driving the growth of the wireless EV charging market in this region.
Key players operating in the Wireless Electric Vehicle Charging Market include Bombardier Inc., Continental AG, Elix Wireless, Evatran Group Inc., Hella KGaA Hueck & Co., Qualcomm, Inc., Robert Bosch GmbH, Toshiba Corporation, Toyota Motor Corporation, Witricity Corporation, ZTE Corporation, and Hevo Power. These key players are focusing on technological advancements and strategic partnerships to strengthen their market position and cater to the growing demand for wireless EV charging solutions.
The move to transition from fossil fuels amid rapid urbanization in cities can drive the need for charging infrastructure.
The global wireless electric vehicle charging market report by Market Research Future (MRFR) takes a deep look at the changes in economic policies, rise in production of electric vehicles, and advances in battery development and its impact during the period of 2019 to 2025 (forecast period) are explained in detail.
The COVID-19 pandemic and its impact have also been taken into account in the report.Market ScopeThe global wireless electric vehicle charging market is set to expand at a stellar growth rate over the forecast period.
Major drivers include the massive demand for environment friendly vehicles, concerns over carbon emissions, rise in the capacity of EV batteries, and increasing interest in dynamic electric vehicle charging (DEVC) technology.
Huge demand for autonomous and semi-autonomous vehicles and robust urbanization rate in cities can influence the global wireless EV charging market.But energy loss during transmission and huge costs of EVs can hamper market growth.Competitive Outlook BMW, Nission, ELIX Wireless , Continental AG, Qualcomm, Inc., HEVO power, Toshiba Corporation, ZTE Corporation, Plugless Power, and WiTricity are key players of the global wireless electric vehicle charging market.Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/7214 Segmentation The global wireless EV charging market is segmented on the basis of charging type, power supply range, charging pad, charging station, propulsion, vehicle type, and application.
The dynamic electric charging segment is anticipated to gain the lead in the global market owing to the huge need for charging vehicles during transportation.On the basis of power supply range, the market has been segmented into 3 to <7.7 KW, 7.7 to < 11KW), 11to < 20KW, 20 to < 50 KW, 50 KW and above.
The Global Wireless Electric Vehicle Charging Market size is estimated to be USD 30.9 million in 2019 and is predicted to reach USD 213.7 million by 2030 with a CAGR of 19.2% from 2020-2030.Wireless Electric Vehicle Charging is a technology which transfers the energy from the source to the consuming device without cables.
It is one of the recent developed technologies which is gaining popularity and offer various benefits as compared to the traditional method over the period of time.
There has been increased inclination towards the use of electric vehicles and this technology creates safe, reliable and efficient way to charge the vehicle on a daily basis.Access Full Description of this report at:- https://www.nextmsc.com/report/wireless-electric-vehicle-charging-market Top Companies: Continental AG, Qualcomm Inc., Robert Bosch Gmbh, Texas Instruments Inc., Toyota Motor Corporation, Witricity Corporation, Powermat Technologies Ltd, Elix Wireless, Evatran Group Inc, and Toshiba Corporation and others.The global wireless electric vehicle charging market share is analysed on the basis of power source, installation, distribution channel, vehicle type, and geography.
Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.Request sample copy of this report at:- https://www.nextmsc.com/wireless-electric-vehicle-charging-market/request-sample North America denotes a higher adoption of the wireless electric vehicle charging and is anticipated hold the highest market share during the forecast period.
This is attributable to the factors including presence of well-established infrastructure, increased inclination towards hybrid vehicles, and technological advancements.
Asia Pacific is also expected to contribute the overall market growth with rapid growth rate and considerable growth in market share owing to the high fuel prices and maturation of oil wells.
