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Wireless EV Charging Market Poised for Growth with Advancements and Government Support
Wireless Ev Charging Market
The Global Wireless Ev Charging Market report is a detailed study of the different segments of the market, factors driving and restraining the growth of the market, and regional landscape based on the data gathered from both primary and secondary sources of data collection, along with the research methodology employed for analysis provided in the study. The market overview, SWOT analysis, and insights into the strategies adopted by key players operating in the Wireless Ev Charging market help understand the market forces and how those can be exploited to benefit from future opportunities.
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Key Drivers of Market Growth
The rise in EV sales is a primary factor boosting the wireless charging market. Consumers are increasingly shifting towards low-maintenance, wirelessly connected vehicles, leading to a surge in EV production. According to the International Energy Agency (IEA), global EV sales reached 6.7 million units in 2021, marking a significant increase from the previous year. China led this growth with 3.4 million sales, followed by Europe with 2.3 million.
Government incentives and funding are also playing a crucial role in accelerating the adoption of wireless charging solutions. Authorities worldwide are actively promoting EV adoption by offering tax incentives and financial aid. Notably, Char.gy secured a $3.01 million investment to implement wireless charging technology on residential streets, reflecting a strong commitment to advancing this innovation.
Challenges in Market Expansion
Despite its promising growth, the high cost of upgrading to wireless charging remains a major challenge. Transitioning from traditional plug-in charging to wireless systems requires significant investments in infrastructure and vehicle compatibility. The need for specialized equipment and installation further adds to the cost, making adoption slower than anticipated. However, ongoing advancements and economies of scale are expected to reduce costs over time, making wireless charging more accessible.
Market Segmentation and Emerging Trends
The wireless EV charging market is divided into two primary segments: Dynamic Wireless Charging Systems and Stationary Wireless Charging Systems. Among these, home charging units held the largest market share in 2024, with increasing integration into smart home systems. Smart home-enabled charging allows optimized energy consumption, cost-effective charging during off-peak hours, and even bidirectional charging where EVs can supply power back to the grid.
Meanwhile, commercial charging stations are emerging as the fastest-growing segment. Research is underway to integrate wireless charging into commercial EV fleets and public transport infrastructure. Concepts like dedicated wireless charging lanes for electric buses could revolutionize urban mobility, reducing depot charging times and improving service frequency.
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Wireless Ev Charging Top Companies and Competitive Landscape
Market competition in the Wireless EV charging industry is characterised by the presence of global and regional players such as WiTricity Corporation, InductEV Inc., Plugless Power Inc., Electron, and others.
The competitive landscape in wireless EV charging is undergoing a rapid pace, influenced by both technological improvements and rising electric vehicle demand. The focus remains on efficient, user-friendly charging solutions for increased consumer convenience.
For example, some are popularising resonant inductive charging systems as well as dynamic charging systems, which permit seamless energy transfer without requiring a physical connection.
Further, partnerships between automobile manufacturers and technology companies are promoting collaboration to build integrated charging infrastructures. In the mature market, factors such as charging speed, cost-effectiveness, and compatibility with different EV models will be key drivers of competitive positioning.
In July 2023, WiTricity Corporation announced the FastTrack Integration Program for vehicle manufacturers. This streamlined program enables automotive OEMs to begin evaluating and testing electric vehicles with wireless charging in just 90 days. Wireless charging will be fully enabled and operational on the automaker's EV platform, utilising the company's Halo receiver and 11kW charger.
Some of the key companies in the global Wireless Ev Charging Market include:
WiTricity Corporation
InductEV Inc.
Plugless Power Inc.
Electron
HEVO Inc
Wireless Ev Charging Latest Industry Updates
In June 2023, GINAF Trucks, a leading manufacturer of commercial vehicles in the Netherlands, collaborated with Electreon to integrate Electreon's wireless charging system into a GINAF 50-ton truck. Furthermore, Electron and GINAF are considering aftermarket installations on additional GINAF trucks and Mercedes-Benz chassis.
In April 2023, WiTricity Corporation and ABT e-Line (Germany) announced plans to bring wireless EV charging to Europe's streets. With demonstrated experience working with the Volkswagen Group (VW), ABT e-Line (Germany) will initially upgrade the VW ID.4 model to support WiTricity Corporation's wireless charging technology. This model (which includes wireless charging technology) is expected to be available in early 2024.
In February 2023, HEVO Inc. worked with Stellantis NV (a major global automaker and mobility provider) to integrate wireless charging technology into Stellantis electric vehicles. As a result, a safer, more efficient, and longer-lasting charging experience will be possible.
Wireless Ev Charging Market Segmentation Analysis
By Application
Outlook (Revenue, USD Million; 2020-2033)
Commercial Charging Stations
Home Charging Units
By Component Outlook (Revenue, USD Million; 2020-2033)
Base Charging Pads
Power Control Units
Vehicle Charging Pads
By Charging Type Outlook (Revenue, USD Million; 2020-2033)
Dynamic Wireless Charging Systems
Stationary Wireless Charging Systems
By Propulsion Outlook (Revenue, USD Million; 2020-2033)
BEVs
PHEVs
By Vehicle Type Outlook (Revenue, USD Million; 2020-2033)
Commercial Vehicles
Passenger Cars
By
Power Supply Range Outlook (Revenue, USD Million; 2020-2033)
Up to 3.7 kW
Above 3.7-7.7 kW
Above 7.7-11 kW
Above 11 kW
By Charging System Outlook (Revenue, USD Million; 2020-2033)
Magnetic Resonance Charging
Inductive Charging
Capacitive Charging
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Benefits of Buying the Global Wireless Ev Charging Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Wireless Ev Charging Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Wireless Ev Charging Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Wireless Ev Charging Market
Look Over transcripts provided by Emergen Research
Wireless Ev Charging Market Size@ https://www.emergenresearch.com/public/industry-report/wireless-ev-charging-market/market-size
Wireless Ev Charging Market Share@ https://www.emergenresearch.com/public/industry-report/wireless-ev-charging-market/market-share
Wireless Ev Charging Market Trends@ https://www.emergenresearch.com/public/industry-report/wireless-ev-charging-market/market-trends
Wireless Ev Charging Regional Market Demand@ https://www.emergenresearch.com/public/industry-report/wireless-ev-charging-market/regional-market-demand
Wireless Ev Charging Market Analysis@ https://www.emergenresearch.com/public/industry-report/wireless-ev-charging-market/market-analysis
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