Press release
Wireless Car Charging Market to represent a significant expansion at 39.3%CAGR by 2025
Growing investment in R&D activities for wireless car charging as well as increasing utilization of EV’s to eradicate harmful emissions plus decrease the carbon footprint are the major drivers of market growth in terms of revenue. However, the requirement for products regularity and customers concern as regards to infrastructure back up is likely to impede the growth of the worldwide market.
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The global wireless car charging market is projected to account for a market value of close to US$ 3,147 Million through 2025 end, registering a remarkable of a 41.7% CAGR in value terms throughout the predicted period of 2025.
Market Segmentation
• Based on the base station, the worldwide market is broadly categorised into dynamic and static. The static category is likely to be leading all over the predicted period, by gaining around 70% of market share through 2025 end. The category is projected to account for a market value of US$ 2,214.8 Million through 2025 end, recording a 39.3%CAGR. On the other hand, the Dynamic category is projected to record the maximum 49.4% CAGR in valuation terms.
• Based on the type of car, the overall market is segmented into hybrid and electric. The Electric car segment is the biggest category with an anticipated market share of over 70% through 2025 end. This segment is estimated to be the most attractive in the worldwide market and is likely to see a firm growth in revenue terms all through the predicted period.
• Based on the technology, the worldwide market is divided into hybrid-inductive resonance and inductive charging. The inductive charging is the biggest division and is likely to gain around 72% of the overall market share through 2025 end, exhibiting a robust CAGR of 40.0% in valuation terms, this division is estimated to remain leading the worldwide market for wireless car charging over the predicted period.
• Based on the region, the overall market is broadly segmented into EMEA, Asia Pacific and Americas. Asia Pacific is predicted to be the leading regional market and is estimated to gain over 50% of the market share through the end of the calculated year in 2025.
Key Market Players
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Some of the major companies functional in the worldwide market for wireless car charging
• Evatran LLC (Plugless Power)
• Qualcomm Technologies Inc.
• Momentum Dynamics Corp.
• WiTricity Corporation
• Mojo Mobility Inc.
• HEVO Inc.
• Toshiba Corporation
• Denso Corporation
• TDK Corporation
• Bombardier Inc
• ZTE Corporation
• Others
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Research Report Insights (RRI) is a leading market intelligence and consulting firm. We deliver a host of services including custom research reports, syndicated research reports, and consulting services which are personalised in nature. RRI delivers a complete packaged solution to clients; this combines current market intelligence, technology inputs, statistical anecdotes, valuable growth insights, 360-degree view of the competitive framework, and anticipated market trends.
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