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Global Wireless Electric Vehicle Charging Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights
Wireless Electric Vehicle Charging Market
The report analyses the Wireless Electric Vehicle Charging market's drivers and restraints and their impact on demand throughout the projection period. In addition, the report examines global opportunities in the global Wireless Electric Vehicle Charging Systems market.
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The Wireless Electric Vehicle Charging System Market: Overview
The key factors propelling the growth of the wireless electric vehicle (EV) charging System market are the rising demand for fast-charging infrastructure for EVs, the expansion of wireless charging infrastructure in European nations, the prevalence of range anxiety, and the standardization of wireless EV charging systems.
Major retail MNCs and shared mobility operators worldwide are projected to deploy autonomous vehicles more frequently in public transportation and logistics in the upcoming years, creating considerable growth potential for market participants.
The Wireless Electric Vehicle Charging System Market: Growth Factors
The market has increased significantly due to a growing population, rising market demands, and better-developed technologies. The rapid adoption of newly developed innovative technologies with additional benefits from wireless electric vehicle charging, including simplicity of use, absence of carbon dioxide emissions and improvement of the global environment, higher efficiency, low maintenance costs, and reduced shock effects.
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The vehicle's battery gets charged through the transfer of electricity from one magnetic coil to another. Electric car wireless charging uses batteries the same size and weight as those used in practical vehicles. These two factors together account for a significant drop in the price of electric automobiles.
Growing demand and more consumer knowledge have allowed the market to expand significantly. Market participants play a significant role in new inventions across regions, and ongoing research and development have helped to improve wireless electric vehicle charging with high market demand.
The Wireless Electric Vehicle Charging System Market: Key Insights
• As per the analysis shared by our research analyst, the Wireless Electric Vehicle Charging market is estimated to grow annually at a CAGR of around 90% over the forecast period (2022-2030).
• In terms of revenue, the Wireless Electric Vehicle Charging market size was valued at around USD 14 million in 2021 and is projected to reach USD 450 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on type segmentation, the static wireless EV charging systems segment was estimated to hold the maximum market share in 2021.
• Based on application segmentation, the commercial wireless EV charging systems segment was the top revenue-generating category in 2021.
• Based on technology segmentation, the inductive wireless EV charging systems segment is expected to grow at a high CAGR from 2022 to 2030.
• Based on geography/region, the Europe region was the leading revenue generator in 2021.
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The Wireless Electric Vehicle Charging System Market: Regional Landscape
In 2021, Europe led the wireless electric vehicle charging market. The widespread use of wireless EV charging systems in Europe is primarily attributed to the region's growing electric vehicle adoption, numerous wireless EV charging technology pilot projects throughout Europe, and government initiatives to examine the viability of wireless EV charging technology.
In addition, to lessen range anxiety related to electric vehicles, electric mobility stakeholders across Europe are initiating new projects to create a sustainable road transportation infrastructure that can charge electric cars on the move.
The Wireless Electric Vehicle Charging System Market: Prominent Players
Toyota Motor Corporation
TGOOD Global Ltd
Toshiba Corporation
Momentum Dynamics Corporation
Robert Bosch GmbH
Tesla
Continental AG
HELLA GmbH & Co. KGaA
ZTE Corporation
WiTricity Corporation
Qualcomm Technologies
Renesas electronics
Powermat Technologies
Nidec mobility corporation
Evatran Group
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The Wireless Electric Vehicle Charging System Market: Segments
By Power Supply
Less than 11 kW
More than 50 kW
11 kW to 50 kW
By Type
Dynamic
Static
By Component
Base Pads
Vehicle Pads
Power Control Units
Battery Management Systems
By Technology
Capacitive Wireless EV Charging Systems
Permanent Magnet Gear Wireless EV Charging Systems
Inductive Wireless EV Charging Systems
Resonant Inductive Wireless EV Charging Systems
By Propulsion
BEV
PHEV
By Application
Commercial
Residential
The Wireless Electric Vehicle Charging System Market: Regions
North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
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