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Global Wireless EV Charging Growth Opportunities

  • Report

  • 58 Pages
  • August 2022
  • Region: Global
  • Frost & Sullivan
  • ID: 5648646

Wireless Charging and Autonomous Capabilities Represent Marketable Features for the High-end Luxury EV Segment

2021 has been a strong year for electric vehicle (EV) sales, with 6.8 million units sold and 9.5% global market penetration, outperforming industry expectations. Despite the impact of chip shortages on production, the industry exceeded 100% YoY growth. Conductive (wired) charging infrastructure grew to more than 500,000 charge points in 2021. The top 5 countries (excluding China) were the US, the Netherlands, France, Germany, and the UK. These include AC/DC, public, and private charge points. As of 2022, the wireless or inductive EV charging market is still in a nascent phase because of a lack of global standards, safety regulations, and established business models.

Conductive charging infrastructure is also underdeveloped. Hence, the most likely adopters of wireless EV charging will be premium/luxury EV manufacturers offering it as an add-on feature and the commercial mobility sector. About 90% of wireless charging will be stationary as dynamic (under-road) WEVC requires large-scale investment and an infrastructure overhaul. Of the stationary wireless chargers, 80% will be in private locations, while 20% will be available to the public. They will likely use charging pads rather than underground WPT devices.

Hyundai-Kia’s premium sub-brand Genesis is launching its all-new EV called GV60, built on the E-GMP pure electric platform. The GV60 will offer factory-installed WEVC as an optional feature. The WEVC system on the Genesis GV60 will be based on Witricity’s wireless charging technology, which is also J2954-compliant. This is a potential business model for WEVC penetration, particularly into the premium EV market and possibly mass-market EVs, as Witricity endeavors to drive down costs.

Table of Contents

1. Strategic Imperatives
  • Why Is It Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
  • The Impact of the Top 3 Strategic Imperatives on the Wireless Electric Vehicle Charging (WEVC) Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine™
2. Electric Vehicle Market Overview
  • Electric Vehicles Sold in the Last Decade
  • Global EV Market, 2021 and 2022E
  • EV Growth and Penetration - Major Countries
  • EV Growth and Penetration - Leading OEMs
  • Commercial EV Market Overview - Battery EVs (BEVs)
  • EV Charging Infrastructure Development
  • Summary of Potential EV Charging Models
3. Standards and WEVC Systems
  • Wireless EV Charging Systems and Methods
  • Overview of Different Wireless EV Charging Methods
  • SAE J2954
4. WEVC Market Overview 2022
  • Key EV Market Trends
  • Wireless Charging For Commercial EVs
  • OEM Overview - Premium and Luxury EV
  • Market Developments For WEVC
5. Technology Evolution and Use Case
  • Technology Roadmap
  • Comparative Analysis
  • Adoption of Different Types of Business Models
  • Strategic Locations
6. WEVC Market Sizing
  • Market Estimates in Unit Sales/Installed
  • Estimated Market Size by Revenue
  • Growth Drivers
  • Growth Restraints
7. WEVC Company Profiles
  • WiTricity
  • Plugless Power
  • Momentum Dynamics
  • Momentum Dynamics’ Wireless Charging EV Taxi Project
  • Electreon
  • Electreon Projects
  • Magment (High Disruptive Potential)
8. Growth Opportunity Universe
  • Growth Opportunity 1 - Standardized Aftermarket Solutions to Promote WEVC
  • Growth Opportunity 2 - IP Licensing Business Model for Faster Time to Market
  • Growth Opportunity 3 - Electric Road Systems to Provide a New Market for Construction Companies and Utilities
  • List of Exhibits
  • Legal Disclaimer

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Electreon
  • Hyundai-Kia
  • Magment
  • Momentum Dynamics
  • Plugless Power
  • Witricity