Global Wireless Electric Vehicle Charging Market 2020-2030

Global Wireless Electric Vehicle Charging Market 2020-2030

Bonafide Trust 17-08-2022 176 Pages Figures : 90 Tables : 85
Region : Global Category : Automotive & Transport Automotive

Wireless charging or inductive charging is a type of cordless power transfer wherein it uses electromagnetic induction to provide electricity to portable devices. Wireless charging is typically used to supply power to smartphones, tablets, and smartwatches. It is based on the principle of inductive power transfer (IPT) wherein an electromagnetic field between two objects is used for transferring energy. Wireless charging is comprised of two components namely receiver and transmitter. Moreover, it uses other technologies such as resonance charging and radiofrequency technology. Wireless charging is also used for charging vehicles, electric toothbrushes, power tools, and medical devices. In this, portable equipment can be placed close to a charging station or inductive pad without the contact or precise alignment. Apart from inductive technology, resonance charging, and radiofrequency technology, laser beam or microwave or conductive technologies are also used for energy transfer. Global wireless electric vehicle charging market will reach $333.0 million by 2030, growing by 41.3% annually over 2020-2030 owing to surging sales of electric vehicles due to growing awareness about vehicle emissions and government subsidies, convenience and cost-effectiveness of wireless charging, and high investment by industry players on fast charging infrastructure. The demand for electric vehicle is increasing rampantly, owing to low maintenance and cost-effective features. According to the Edison Electric Institute (EEI), in 2018, the electric vehicle sales increased by 81% as compared to 2017. Electric vehicles are powered by rechargeable batteries that are charged using electricity. Over the years, automakers have started using wireless charging since it is convenient and easy to use. The driver needs to part their car over the charging pad. This also provides sophisticated experience as there is no need to plug-in charging cables. Furthermore, strict regulatory policies related to harmful emissions have led to increase in adoption of electric vehicles thereby driving growth of the global wireless charging market in the near future. Moreover, unlike wired electric vehicle charging stations, Electric Vehicle Wireless Charging is about transmitting energy without cables from a power source to a vehicle. Since this wireless charging technology is reliable, convenient, and cost-effective in the long-run, wireless electric vehicle charging is expected to gain prominence in the coming years. Electric Vehicle Wireless Charging is expected to be attractive for certain vehicle types with defined routes, such as public buses, and it has also been proposed for future electric highway lanes. For instance, in September 2021, Michigan state's government launched a pilot project to build a wireless charging road for EVs in Metro Detroit. Similarly, Sweden has successfully tested wireless electric roads for trucks & buses. Hence, such initiatives play an important role in driving the global market. The increasing number of electric vehicle owners necessitates more public charging facilities. As the electric vehicle base grows and continues to electrify more use cases, the demand for public fast charging is expected to rise in the coming years. Electric vehicles can be charged whenever and wherever they are parked, and electric vehicle owners should not have to worry themselves with the grid connection; EV batteries can charge automatically. The wider adoption of wireless electric vehicle charging solutions worldwide helps reduce air pollution. Therefore, these factors play an important role in driving the global market. The issues of safety and cost of wireless charging systems since high voltage and high power necessary for EV charging are projected to hinder the market growth. Further, the wireless charging solution also necessitates an extra charger to be installed into the electric vehicle, thereby increasing the overall vehicle cost. These factors, in turn, are estimated to restrain the market growth in the coming years. Additionally, the upgrade of a wireless electric vehicle charger to the latest generation is more complex than the case of a wired charger, which may limit the market growth over the forecast period.

COVID-19 Impact 
In 2020, due to the COVID-19 crisis, the global auto part and vehicle manufacturing industries were facing a slowdown, owing to lockdown in various countries that restricted EV production. The demand for EV charging infrastructure has been impacted considerably. Major investments for installing electric vehicle charging infrastructure have halted as most EV supply equipment manufacturers globally have been affected, owing to nationwide lockdowns and government restrictions. Moreover, the operations of some key companies have been impacted by the COVID-19 pandemic such as Tesla, Inc.. Daimler AG, BMW AG, Kia Motors Corp., and Nissan Motor Co. Most of these players have shut down their EV production facilities and shifted their effort toward manufacturing personal protective systems. However, the market is expected to bounce back after the crisis; with the gradual removal of lockdowns in various countries, the demand for Electric Vehicle Supply Equipment (EVSE) has slightly increased,

Highlighted with 85 tables and 90 figures, this 176-page report “Global Wireless Electric Vehicle Charging Market 2020-2030 by Charging Technology, Power Source, Component, Charging Type, Propulsion Type, Vehicle Type, Application, Distribution Channel, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global wireless electric vehicle charging market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. 

In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure 
• Growth Drivers 
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global wireless electric vehicle charging market in every aspect of the classification from perspectives of Charging Technology, Power Source, Component, Charging Type, Propulsion Type, Vehicle Type, Application, Distribution Channel, and Region. 

By Charging Technology
    • Magnetic Power Transfer
    • Inductive Power Transfer
    • Capacitive Power Transfer

By Power Source
    • 3 – 11 kW
    • 12 – 50 kW
    • Over 50 kW

By Component
    • Base Charging Pad
    • Power Control Unit
    • Vehicle Charging Pad

By Charging Type
    • Stationary Wireless Charging
    • Dynamic Wireless Charging

By Propulsion Type
    • Battery Electric Vehicle (BEV)
    • Plug-in Hybrid Electric Vehicle (PHEV)

By Vehicle Type
    • Commercial Vehicles
    • Passenger Cars

By Application
    • Home Use
    • Commercial Use

By Distribution Channel
    • OEM
    • Aftermarket

By Geography
    • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
    • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Turkey, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
    • North America (U.S., Canada, and Mexico)
    • South America (Brazil, Chile, Argentina, Rest of South America)
    • MEA (Saudi Arabia, UAE, South Africa)

For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown of all regional markets by country and split of key national markets by Power Source, Propulsion Type, and Application over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in global wireless electric vehicle charging market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

Key Players (this may not be a complete list and extra companies can be added upon request): 
Continental AG, Elix Wireless, Evatran Group Inc., Hella Kgaa Hueck & Co., HEVO Inc., Mojo Mobility, Powermat Technologies Ltd, Qualcomm Inc., Robert Bosch GmbH, Texas Instruments Inc., Toshiba Corporation, Toyota Motor Corporation, Witricity Corporation, ZTE Corporation 

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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