Wireless Electric Vehicle Charging Market by Power Source (3–<11 kW, 11–50 kW, and >50 kW), by Installation (Home and Commercial), by Distribution Channel (OEMs and Aftermarket), by Vehicle Type (BEV, HEV, and EV Commercial) - Global Opportunity Analysis and Industry Forecast, 2022 – 2030

Market Definition:

The Wireless Electric Vehicle Charging Market was valued at USD 740.4 million in 2021 and is predicted to reach USD 3.75 billion by 2030 with a CAGR of 19.7% from 2022-2030.

Wireless Electric Vehicle Charging technology helps in charging the EVs without using any charging cables. As a result, users need not to wait in charging stations for hours and can charge their vehicle anywhere even in driving mode if the roads are embedded with a series of coils connected to an electric source. Wireless electric vehicle charging not only provides safe and convenient charging solution but also helps to charge the vehicle faster. It also helps to reduce the size of batteries installed in electric vehicles and can be used in any weather conditions.

Market Dynamics and Trends:

Rising inclination towards electric vehicle due to increasing pollution caused by fossil fuel-based automobiles, growing demand of energy-efficient sources, and heavy investment for developing fast charging technologies are the major factors driving the growth of wireless electric vehicle charging market. Also, factors such as growing research in the field of wireless charging technologies, surging consumer demand for convenient charging features, and increasing oil prices are boosting the market growth.

However, high cost of the wireless charging devices, technological challenges, and lack of requisite infrastructure are the factors expected to restrain the market growth. On the other hand, government encouragement towards alternate fuel vehicles and advancement in technology are expected to create ample growth opportunities for the market in the coming years.

Market Segmentations and Scope of the Study:

The global wireless electric vehicle charging market is categorized on the basis of power source, charging method, installation, distribution channel, vehicle type and geography. On the basis of power source, the market is segmented into 3–<11 kW, 11–50 kW, and >50 kW. On the basis of charging method, the market is divided into capacitive wireless power transfer (CWPT), magnetic gear wireless power transfer (MGWPT), resonant inductive power transfer (RIPT), and inductive power transfer (IPT). On the basis of installation, the market is classified into home and commercial. On the basis of distribution channel, the market is categorized into OEMs and aftermarket.  On the basis of vehicle type, the market is bifurcated into BEV, PHEV, and Commercial EV. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.

Geographical Analysis:

North America holds the lion share of the wireless electric vehicle charging market. This is attributed to factors such as increasing adoption of electric vehicle, and growing advancement in automotive sector in this region.

However, Europe is expected to grow rapidly in terms of market share in the global wireless electric vehicle charging market during the forecast period. This is due to factors such as availability of developed infrastructure, increasing sale of electric vehicle and presence of leading market players such as Continental AG and Robert Bosch GmbH.

Competitive Landscape

The wireless electric vehicle charging market is highly competitive and consists of various market players. Some of the market players include Bombardier, Continental AG, Evatran Group Inc. (plug less power), Fulton Innovation, Integrated Device Technology, Inc., Powermat Technologies Ltd, Qualcomm Inc., Robert Bosch GmbH, Texas Instruments Inc., Toyota Motor Corporation, and Witricity Corporation. The market players of wireless electric vehicle market are launching various new products and technologies to maintain their dominance in the market. For instance, In May 11, 2020, Witricity Corporation launched new magnetic resonance technology, which delivers same power and charge rate as conventional charging methods.

KEY BENEFITS

• The wireless electric vehicle charging market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the wireless electric vehicle charging market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the wireless electric vehicle charging market is provided in the report.

• The competitive analysis of the market players along with their market share in the wireless electric vehicle charging market.

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS

By Power Source

• 3–<11 kW

• 11–50 kW

• >50 kW

By Charging Method

• CWPT

• MGWPT

• RIPT

• IPT

By Installation

• Home

• Commercial

By Distribution Channel

• OEMs

• Aftermarket

By Vehicle Type

• BEV

• PHEV

• Commercial EV

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • France

  • Germany

  • Russia

  • Spain

  • Italy

  • Denmark

  • Norway

  • Ireland

  • Portugal

  • Greece    

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • South Korea

  • India

  • Australia

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION: