Wireless Electric Vehicle Charging Market worth USD 258.65 Million by 2027, registering a CAGR of 48
Wireless EV Charging Market Growth:
The ubiquity of wireless charging and the development of electric vehicles and efforts by countries for lowering transmissions can accelerate the installation of charging equipment. The move to transition from fossil fuels amid rapid urbanization in cities can drive the need for charging infrastructure. The global wireless electric vehicle charging market report by Market Research Future (MRFR) takes a deep look at the changes in economic policies, rise in production of electric vehicles, and advances in battery development and its impact during the period of 2019 to 2025 (forecast period) are explained in detail. The COVID-19 pandemic and its impact have also been taken into account in the report.
The global wireless electric vehicle charging market is set to expand at a stellar growth rate over the forecast period. Major drivers include the massive demand for environment friendly vehicles, concerns over carbon emissions, rise in the capacity of EV batteries, and increasing interest in dynamic electric vehicle charging (DEVC) technology. Surge in expendable income levels of customers in India, China, Germany, and others can favor the market growth over the forecast period. Huge demand for autonomous and semi-autonomous vehicles and robust urbanization rate in cities can influence the global wireless EV charging market.
But energy loss during transmission and huge costs of EVs can hamper market growth.
The global wireless EV charging market is segmented on the basis of charging type, power supply range, charging pad, charging station, propulsion, vehicle type, and application.
On the basis of charging type, the market has been segmented into dynamic and stationary wireless electric charging. The dynamic electric charging segment is anticipated to gain the lead in the global market owing to the huge need for charging vehicles during transportation.
On the basis of power supply range,
Based on charging pad, the market has been segmented into vehicle charging pad, base charging pad, and power control unit.
On the basis of charging system, the market has been divided into home and commercial charging system.
On the basis of propulsion type, the global wireless electric vehicle charging market has been segmented into battery and plug-in electric vehicle.
On the basis of vehicle type, the market has been divided into passenger EV and commercial EV.
On the basis of application, the market has been segmented into OEM and aftermarket.
Geographically, the global electric vehicle wireless charging market has been segmented into four major regions namely North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). The APAC region is estimated to hold the highest market share during the forecast period owing to growing production of electric vehicles from China and Japan. Moreover, increased production and sales of EVs is expected to boost the demand for wireless electric vehicle charging market in this region. Furthermore, the growing disposable income levels from developing economies and focus of governments in lowering carbon emissions can influence the regional market.
ELIX Wireless ,
WiTricity are key players of the global wireless electric vehicle charging market.