FEATURED COMPANIES
- Continental AG
- Elix Wireless
- Powermat Technologies Ltd
- Qualcomm Inc.
- Robert Bosch GmbH
- Texas Instruments Inc.
Increase in sales of electric vehicles (EVs), constant advancements in portable electronics as well as wearables, and frequent need for harvesting ambient RF energy are expected to drive the growth of the global wireless electric vehicle charging market during the forecast period. However, expensive technology for its integration and slower charging as compared to other charging technologies hamper market growth.
The market segmentation is based on power source, charging methods, installation, distribution channel, vehicle type, and region. The power source segment is further divided as 3–< 11 kW, 11–50 kW, and >50 kW based on the power output requirement for wireless charging. Based on charging methods, the market is segmented into capacitive wireless power transfer (CWPT), magnetic gear wireless power transfer (MGWPT), resonant inductive power transfer (RIPT), and inductive power transfer (IPT). Home and commercial installation types are covered on the basis of installation. Depending on the distribution channel, the market is bifurcated into OEMs and aftermarket. The vehicle type segment is further divided into battery electric vehicles (BEV), plug-in hybrid electric vehicle (PHEV), and commercial electric vehicles.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the Wireless EV charging market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2030to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
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 Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Netherlands
- Norway
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- 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
- Witricity Corporation
FEATURED COMPANIES
- Continental AG
- Elix Wireless
- Powermat Technologies Ltd
- Qualcomm Inc.
- Robert Bosch GmbH
- Texas Instruments Inc.
FEATURED COMPANIES
- Continental AG
- Elix Wireless
- Powermat Technologies Ltd
- Qualcomm Inc.
- Robert Bosch GmbH
- Texas Instruments Inc.
At present, the U.S.dominates the market, followed by Canada and Mexico in North America. However, Mexico is expected to grow at a higher CAGR during the forecast period. In addition, in 2019, China led the market in the Asia-Pacific region followed by Japan, South Korea, India, and rest of Asia-Pacific countries.
Increase in sales of electric vehicles (EVs), constant advancements in portable electronics as well as wearables, and frequent need for harvesting ambient RF energy are expected to drive the growth of the global wireless electric vehicle charging market during the forecast period. However, expensive technology for its integration and slower charging as compared to other charging technologies hamper the wireless charging for electric vehicle market growth.
Crude oil, which is extracted and processed to form diesel and petrol, is the key source of ignition in vehicles. In the past few decades, oil prices have augmented at an alarming rate, making it difficult for low- and middle-class consumers to afford travel. Increase in oil prices have urged consumers to shift toward energy-efficient alternatives, which reduce the overall cost per km. This is anticipated to drive the demand for electric vehicles as compared to fuel-driven vehicles, thus, boosting the growth of the electric vehicle charging system market.
According to the French Ministry of Foreign Affairs and International Development, the U.S. dominates the market for electric vehicles, followed by Europe and Japan. In the first half of 2013, 18,939 electric vehicles were sold in Europe, as compared to 15,503 during the same period in 2012. In the same year, 30,000 electric vehicles were sold in the U.S. as compared to approximately 6,000 in Japan.
To overcome charging challenges such as demand charging and need for bigger batteries, the Dutch government announced to install 20,000 normal chargers and 100 quick chargers by 2015. Hence, increase in demand for electric vehicles in these regions is expected to boost the growth of the electric vehicle charging system market.
Further, the revenue generation of the electric vehicle charging system market is restricted owing to the higher price of electric vehicles, which in turn limits the total sales of electric vehicles. The electric vehicle charger manufacturing companies can associate with the governments of different countries to increase awareness about clean technology and thus, increase the popularity of electric vehicles in their countries. Moreover, companies can adopt various multichannel promotional activities such as social network and road shows, to cater to the growing demand for electric vehicles.
Key Findings Of The Study
By distribution channel, the aftermarket segment generated the highest revenue in2019.
By region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period while considering wireless EV charging market growth.
By vehicle type, the commercial EV dominated the global market in terms of revenue in 2019.
Latin America leads the market in the LAMEA region.
The key players profiled in the wireless EV charging market share include Continental AG, Robert Bosch GmbH, Qualcomm Inc., Toyota Motor Corporation, Powermat Technologies Ltd, Texas Instruments Inc., Witricity Corporation., Toshiba Corporation., Elix Wireless, and Evatran Group Inc. (plug less power).
- Continental AG
- Robert Bosch GmbH
- Qualcomm Inc.
- Toyota Motor Corporation
- Powermat Technologies Ltd
- Texas Instruments Inc.
- Witricity Corporation.
- Toshiba Corporation.
- Elix Wireless
- Evatran Group Inc. (plug less power)
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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