Market Definition:
The Wireless Electric Vehicle Charging Market was valued at USD 513.5 million in 2019 and is predicted to reach USD 3.75 billion by 2030 with a CAGR of 19.8% from 2020-2030. Wireless Electric Vehicle Charging technology helps in charging the EV's 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 vehicle and can be used in any weather condition.
Market Dynamics and Trends:
Rising inclination towards electric vehicle due to increasing pollution caused by fossil fuel-based car, growing demand of energy-efficient sources and increasing 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 demand of consumer 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 infrastructure developments are the factors expected to restrain the market growth. On the other hand, government encouragement towards wireless charging vehicles and advancement in newer technologies 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 the factors such as increasing adoption of electric vehicle, and growing advancement in automotive sector in this region. Europe is also expected to grow rapidly in terms of market share of the 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, Fulton Innovation, Integrated Device Technology, Inc., Powermat Technologies Ltd, Qualcomm Inc., Robert Bosch GmbH, Texas Instruments Inc., Toyota Motor Corporation, and Witricity Corporation.
KEY MARKET SEGMENTS
Wireless Electric Vehicle Charging- By Power Source
Wireless Electric Vehicle Charging- By Charging Method
Wireless Electric Vehicle Charging- By Installation
Wireless Electric Vehicle Charging- By Distribution Channel
Wireless Electric Vehicle Charging- By Vehicle Type
Wireless Electric Vehicle Charging- By Geography
The Wireless Electric Vehicle Charging Market was valued at USD 513.5 million in 2019 and is predicted to reach USD 3.75 billion by 2030 with a CAGR of 19.8% from 2020-2030. Wireless Electric Vehicle Charging technology helps in charging the EV's 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 vehicle and can be used in any weather condition.
Market Dynamics and Trends:
Rising inclination towards electric vehicle due to increasing pollution caused by fossil fuel-based car, growing demand of energy-efficient sources and increasing 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 demand of consumer 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 infrastructure developments are the factors expected to restrain the market growth. On the other hand, government encouragement towards wireless charging vehicles and advancement in newer technologies 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 the factors such as increasing adoption of electric vehicle, and growing advancement in automotive sector in this region. Europe is also expected to grow rapidly in terms of market share of the 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, Fulton Innovation, Integrated Device Technology, Inc., Powermat Technologies Ltd, Qualcomm Inc., Robert Bosch GmbH, Texas Instruments Inc., Toyota Motor Corporation, and Witricity Corporation.
KEY MARKET SEGMENTS
Wireless Electric Vehicle Charging- By Power Source
- 3-< 11 kW
- 11-50 kW
- >50 kW
Wireless Electric Vehicle Charging- By Charging Method
- CWPT
- MGWPT
- RIPT
- IPT
Wireless Electric Vehicle Charging- By Installation
- Home
- Commercial
Wireless Electric Vehicle Charging- By Distribution Channel
- OEMs
- Aftermarket
Wireless Electric Vehicle Charging- By Vehicle Type
- BEV
- PHEV
- Commercial EV
Wireless Electric Vehicle Charging- By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- RoW
- Latin America
- Middle East
- Africa
Table of Contents
1. Introduction
2. Market Snapshot, 2019-2030 Million USD
4. Market Dynamics
5. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Power Source
6. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Vehicle Type
7. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Installation
8. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Region
9. Company Profiles
Executive Summary
Wireless Electric Vehicle Charging: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 - 2030- Growing research in the field of wireless charging technologies, surging demand of consumer for convenient charging features and increasing oil prices are factors driving the wireless electric vehicle market growth.Wireless Electric Vehicle Charging technology helps in charging 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.
Rising inclination towards electric vehicle due to increasing pollution caused by fossil fuel-based car, growing demand of energy-efficient sources and increasing investment for developing fast charging technologies are the major factors driving the growth of wireless electric vehicle charging market. However, high cost of the wireless charging devices, technological challenges and lack of infrastructure developments are the factors expected to restrain the market growth.
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.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Continental AG
- Qualcomm Inc.
- Robert Bosch Gmbh
- Texas Instruments Inc.
- Toyota Motor Corporation
- WITRICITY CORPORATION
- Powermat Technologies Ltd
- Integrated Device Technology, Inc
- Fulton Innovation
- Bombardier Inc.
