Press release
EV Wireless Power Transfer Market Share Growth Value Report 2023-2030
EV Wireless Power Transfer Market-DataM Intelligence
High growth anticipated with a CAGR of 97.1% during the forecast period 2023-2030
The Global EV Wireless Power Transfer Market has marked an impressive growth, reaching US$ 16.3 million in 2022, and is poised for remarkable expansion, projected to hit US$ 3,718.7 million by 2030, reflecting a robust CAGR of 97.1% during the forecast period from 2023 to 2030.
The escalating adoption of wireless power transfer technology has significantly enhanced charging efficiency, resulting in swift charging times and reduced energy loss throughout the charging process. Drivers of electric vehicles are increasingly drawn to wireless charging due to technological advancements, including enhanced power transfer capabilities and improved alignment and positioning techniques.
Asia-Pacific Drives Growth
The Asia-Pacific region emerges as a key driver, covering over one-third of the global EV wireless power transfer market. The surge in electric vehicle usage in countries like China, Japan, and South Korea, driven by environmental concerns, escalating gasoline prices, and technological breakthroughs, contributes to the rapid growth. The increasing need for effective and convenient charging solutions, spurred by the growing number of electric vehicles on the roads, propels the adoption of wireless power transfer technology.
Market Dynamics and Scope
Metrics
CAGR: 97.1%
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (US$)
Segments Covered:
Technology
Power Transfer Range
End-User
Application
Region
Fastest Growing Region: Asia-Pacific
Largest Region: Asia-Pacific
Insights Covered:
Competitive Landscape Analysis
Company Profile Analysis
Market Size, Share, Growth
Demand, Recent Developments
Mergers and Acquisitions
New Equipment Type Launches
Growth Strategies
Revenue Analysis
Porter's Analysis
Pricing Analysis
Regulatory Analysis
Supply-Chain Analysis and Other Key Insights
Request for Sample: https://www.datamintelligence.com/download-sample/ev-wireless-power-transfer-market
Market Dynamics
Growing Demand for Electric Vehicles
The surge in sales and demand for electric vehicles, driven by their numerous advantages, is expected to propel the global EV wireless power transfer market. The International Energy Agency reports a substantial increase in electric vehicle sales globally, reaching over 10 million in 2022, with projections indicating a 35% increase to 14 million in the current year. Factors such as heightened public awareness, rising fuel prices, technological advancements, and increased investment in affordable EVs contribute to the escalating demand for electric vehicles.
Expanding Research on Upcoming Wireless Technology
Continued research on wireless technology developments holds promise for the global wireless power transfer market. Initiatives addressing current flaws, including charging power and range limitations, showcase strong industry interest in expanding investments in far-field wireless technologies. Research outcomes have the potential to make wireless charging infrastructure more cost-effective and accessible to a broader consumer base, enhancing scalability and deployment effectiveness.
Slow Charging Hinders Market Growth
The disparity in charging rates between wired and wireless technologies poses a longstanding challenge for the industry. The relatively slower charging speed of wireless electric vehicle power compared to wired alternatives restricts market growth. Consumer preferences and acceptance of wireless charging technologies may be influenced if charging speeds noticeably lag behind alternative methods, posing a potential hindrance to market expansion.
Market Segmentation Analysis
Global EV Wireless Power Transfer Market Segmentation
Technology
Inductive Power Transfer (IPT)
Resonant Inductive Power Transfer (RIPT)
Capacitive Power Transfer (CPT)
Power Transfer Range
3 to 11 kW
11 to 50 kW
Above 50 kW
End-User
Residential
Commercial
Application
Commercial Vehicles
Passenger Vehicles
Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Middle East and Africa
For more details on this report: https://www.datamintelligence.com/research-report/ev-wireless-power-transfer-market
Geographical Share:
Asia-Pacific Dominates Growing Electric Vehicle Industry
The Asia-Pacific region, covering one-third of the global market in 2022, experiences substantial growth in the EV wireless power transfer market. The surge in electric vehicle numbers in countries like China and Japan positions the region for significant expansion. Government initiatives to build electric vehicle charging infrastructure further fuel market growth. In India, the government aims for 8 crore EVs by 2030, necessitating 39 lakh public and semi-public charging stations. China, with over 807,000 electric vehicle charging stations in 2020, faces rising demand, creating substantial growth opportunities for the wireless charging industry.
Competitive Players:
Major Global Players
WiTricity Corporation
Qualcomm Halo
Plugless (Evatran Group)
Momentum Dynamics Corporation
Bombardier Primove
Hella Aglaia Mobile Vision GmbH
HEVO Inc.
Electreon Wireless
Groupe Renault
BMW GROUP
The global EV wireless power transfer market presents an array of opportunities and challenges, fueled by technological advancements, market dynamics, and geographical trends. As the market continues to evolve, stakeholders must stay abreast of emerging opportunities and strategies to capitalize on the industry's growth.
Related Reports:
Automotive Front-End Module Market: https://www.datamintelligence.com/research-report/automotive-front-end-module-market
ANPR Systems Market: https://www.datamintelligence.com/research-report/anpr-systems-market
Automotive Electronics Market: https://www.datamintelligence.com/research-report/automotive-electronics-market
Contact Us -
Company Name: DataM Intelligence
Email: info@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us -
DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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