Wireless Electric Vehicle Charging Market Research Report: Information by Charging Type (Dynamic and Stationary), Power Supply Range (3 to <7.7 KW, 7.7 to < 11KW, 11to < 20KW, 20 to < 50 KW, and 50 KW and above), Charging Pad, Charging System, Propulsion Type, Vehicle Type, Application, Region – Global Forecast till 2023. The Global Wireless Electric Vehicle Charging Market is expected to witness ~21% CAGR during the period, 2018 to 2023.
According to Market Research Future (MRFR), the size of global wireless electric vehicle charging would increase exponentially by the end of 2023. MRFR also confirms that during the forecast period (2017-2023), the market would register a substantial CAGR. Rising prices and scarcity of fossil fuel are presaging that electric vehicles would be best suitable alternative for fossil fuels for the future.
Some of the major players:
- Global Wireless Electric Vehicle Charger Market include ABB (Switzerland)
- Leviton (U.S.)
- WiTricity Corporation (U.S)
- Convenient Power HK Limited (Hong Kong)
- Siemens (Germany)
- Delphi Automotive (U.K.)
- Qualcomm (U.S.)
- Bosch Group (Germany)
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Market Segmentation:
MRFR’s report offers a detailed segmental assessment of the wireless electric vehicle charger market based on technology and component. By technology, the global wireless electric vehicle charger market has been segmented into inductive charging, conductive charging, dynamic charging, magnetic resonance, and others.
By component, the wireless electric vehicle charger market has been segmented into electromagnetic induction, wireless power receiver, rectifies, power distribution box, vehicle receiver unit, ground transmission unit, and battery, and others.
Market Research Analysis
In terms of region, the global market for wireless electric vehicle charging is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share over the forecast period owing to growing production of electric vehicles in China and Japan. Increased production and sales of automobiles is expected to boost the demand for wireless electric vehicle charging market in this region. Furthermore, the growing disposable income from countries such as China, India and other countries, and increasing population, urbanization, and rising focus to reduce the vehicle emissions.
North America is estimated to grow at a steady rate in the wireless electric vehicle charging market during forecast period owing to growing demand for environment friendly vehicles. Presence of key playes such as Plugless Power, WiTricity, Qualcomm, Inc., and HEVO power in this region are contributing to the growth of this market. Moreover, increased production and sales of electric vehicles is expected to drive the growth in this region.
Regional Insights:
The global wireless electric vehicle charger market, by region, has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is, at present, leading the global market. The initiatives undertaken by the government for reducing the dependency on fuel and promoting the adoption of electric vehicles is expected to catalyze the expansion of the wireless electric vehicle charger market over the assessment period. Furthermore, the presence of key players in the region is poised to influence the growth rate of the market positively.
Europe is an important revenue pocket of the wireless electric vehicle charger market. The thriving automotive sector of the region is significantly driving the proliferation of the market. It is expected to exhibit a similar trend in the forthcoming years. Electric vehicles have large-scale market presence in the region which is projected to propel the expansion of the wireless electric vehicle charger market. Furthermore, the availability of excessive funds for research & development of new technologies is likely to boost the growth of the market over the next couple of years.
Asia Pacific is poised to witness a rapid growth rate in the foreseeable future. The accelerated adoption of electric vehicles in China backed by its government is anticipated to catapult the wireless electric vehicle charger market in the region. In addition, other fast-developing countries are also prognosticated to witness an upsurge in demand for electric vehicles. This, in turn, is expected to dictate the growth trajectory of the wireless electric vehicle charger market in the region during the forecast period.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
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