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Automotive Inductive Wireless Charging System Market worth $7.12 billion by 2030, growing at a CAGR of 16.55% - Exclusive Report by 360iResearch
Automotive Inductive Wireless Charging System Market | 360iResearch
The Global Automotive Inductive Wireless Charging System Market to grow from USD 2.43 billion in 2023 to USD 7.12 billion by 2030, at a CAGR of 16.55%.
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The automotive inductive wireless charging system is a cutting-edge technology designed to provide a cable-free method of charging electric vehicles (EVs). This system transfers electrical energy from a charging station or pad to the vehicle's battery without needing physical connectors or plugs. The process involves an induction coil creating an alternating electromagnetic field within the charger base station, which then induces a current in a second coil located in the vehicle, thereby charging its battery. This innovative approach enhances convenience and ease of use for EV owners and promotes a cleaner, more efficient charging infrastructure. The continuous rise in global electric vehicle sales propels the demand for inductive wireless charging systems. As consumers increasingly opt for EVs due to environmental concerns and the push for renewable energy, the demand for convenient and innovative charging solutions, such as wireless charging, also rises. However, the high cost associated with charging, deploying, and installing inductive wireless charging infrastructure is a significant challenge the manufacturers face. Companies are frequently working toward innovative product solutions and R&D efforts to remain agile within the landscape. Moreover, Advancements in wireless charging technology have improved efficiency, reduced costs, and increased the convenience of charging electric vehicles. These improvements enhance user experience and make inductive wireless charging systems a more appealing option for EV owners, propelling their adoption in the automotive sector.
The United States and Canada are notable markets for automotive inductive wireless charging systems in the Americas. The United States, being a significant player in the automotive industry, has seen a steady increase in EV adoption, which, in turn, has spurred demand for innovative charging solutions, including inductive wireless charging. Several startups and established companies are investing heavily in research and development to enhance the efficiency and convenience of these systems in this region. Canada is also witnessing growing interest in EVs and related technologies, supported by government policies favoring green energy and sustainable transportation solutions. On the other hand, the European Union (EU) countries have been at the forefront of adopting automotive inductive wireless charging systems bolstered by stringent environmental regulations and policies promoting the use of electric vehicles. The increased consumer demand for EVs and the need for convenient charging solutions have led to significant investments and partnerships to expand the inductive wireless charging infrastructure. Moreover, the Asia Pacific region, notably China, Japan, and India, is experiencing rapid growth in the automotive inductive wireless charging system market, driven by increasing electric vehicle (EV) adoption and significant technological advancements. China and India present significant consumer needs and technical development, with the government's strong support for EVs through incentives and an extensive charging infrastructure network.
Market Segmentation & Coverage:
This research report categorizes the Automotive Inductive Wireless Charging System Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Hardware and Software. The Software is projected to witness significant market share during forecast period.
Based on Technology, market is studied across Electromagnetic Induction, Magnetic Resonance, and Resonant Inductive Coupling. The Electromagnetic Induction is projected to witness significant market share during forecast period.
Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Vehicles. The Commercial Vehicles is projected to witness significant market share during forecast period.
Based on Ownership, market is studied across Private and Public. The Public is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 37.24% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Automotive Inductive Wireless Charging System Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Inductive Wireless Charging System Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Automotive Inductive Wireless Charging System Market, highlighting leading vendors and their innovative profiles. These include AeroVironment, Inc., Bombardier Inc., Continental AG, DAIHEN Corporation, Denso Corporation, Electreon Wireless Ltd., HEVO Inc., InductEV Inc., Lumen Group, MAHLE InnoWa GmbH, Mojo Mobility, Momentum Dynamics Corporation, Plugless Power LLC, Powermat Technologies Ltd., Qualcomm Technologies, Inc., Robert Bosch GmbH, Siemens AG, Toshiba Corporation, Toyota Motor Corporation, WIRELESS ADVANCED VEHICLE ELECTRIFICATION, LLC., Witricity Corporation, and ZTE Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Inductive Wireless Charging System Market, by Component
7. Automotive Inductive Wireless Charging System Market, by Technology
8. Automotive Inductive Wireless Charging System Market, by Vehicle Type
9. Automotive Inductive Wireless Charging System Market, by Ownership
10. Americas Automotive Inductive Wireless Charging System Market
11. Asia-Pacific Automotive Inductive Wireless Charging System Market
12. Europe, Middle East & Africa Automotive Inductive Wireless Charging System Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Automotive Inductive Wireless Charging System Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Inductive Wireless Charging System Market?
3. What is the competitive strategic window for opportunities in the Automotive Inductive Wireless Charging System Market?
4. What are the technology trends and regulatory frameworks in the Automotive Inductive Wireless Charging System Market?
5. What is the market share of the leading vendors in the Automotive Inductive Wireless Charging System Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Inductive Wireless Charging System Market?
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