Loading...

COVID‑19 Alert: Stay home if you feel unwell. If you have a fever, cough and difficulty breathing, seek medical attention. Follow the directions of your local health authority. Source WHO

We have a lockdown, "Working from HOME" Please reach out for any queries at: help@alliedmarketresearch.com & Int'l : +1-503-894-6022, (UK) : +44-845-528-1300

Wireless Electric Vehicle Charging Market Expected to Reach $701.4 Million by 2030

 
 

quote By power source, the 11–50 kW segment dominated the global Wireless EV charging market in 2019, in terms of revenue. However, >50 kW segment is expected to grow at a higher CAGR during the forecast period (2020–2030). Further, by installation, the commercial segment occupied the major share of the global Wireless EV charging market in 2019. However, the home segment is expected to grow at a higher CAGR during the forecast period. quote

to Akshay Jadhav
Lead Analyst, Automotive & transportation at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Wireless EV charging market by Power Source, Installation, Distribution Channel, and Vehicle Type: Opportunity Analysis and Industry Forecast, 2020–2030,”the global Wireless EV charging market was valued at $7.6million in 2019, and is projected to reach $701.4 million by 2030, registering a CAGR of 45.8% from 2020 to 2030.

At present, the U.S.dominates the market, followed by Canada and Mexico in North America. However, Mexico is expected to grow at a higher CAGR during the forecast period. In addition, in 2019, China led the market in the Asia-Pacific region followed by Japan, South Korea, India, and rest of Asia-Pacific countries.

Increase in sales of electric vehicles (EVs), constant advancements in portable electronics as well as wearables, and frequent need for harvesting ambient RF energy are expected to drive the growth of the global wireless electric vehicle charging market during the forecast period. However, expensive technology for its integration and slower charging as compared to other charging technologies hamper the wireless charging for electric vehicle market growth. 

Crude oil, which is extracted and processed to form diesel and petrol, is the key source of ignition in vehicles. In the past few decades, oil prices have augmented at an alarming rate, making it difficult for low- and middle-class consumers to afford travel. Increase in oil prices have urged consumers to shift toward energy-efficient alternatives, which reduce the overall cost per km. This is anticipated to drive the demand for electric vehicles as compared to fuel-driven vehicles, thus, boosting the growth of the electric vehicle charging system market. 

According to the French Ministry of Foreign Affairs and International Development, the U.S. dominates the market for electric vehicles, followed by Europe and Japan. In the first half of 2013, 18,939 electric vehicles were sold in Europe, as compared to 15,503 during the same period in 2012. In the same year, 30,000 electric vehicles were sold in the U.S. as compared to approximately 6,000 in Japan.

To overcome charging challenges such as demand charging and need for bigger batteries, the Dutch government announced to install 20,000 normal chargers and 100 quick chargers by 2015. Hence, increase in demand for electric vehicles in these regions is expected to boost the growth of the electric vehicle charging system market.

Further, the revenue generation of the electric vehicle charging system market is restricted owing to the higher price of electric vehicles, which in turn limits the total sales of electric vehicles. The electric vehicle charger manufacturing companies can associate with the governments of different countries to increase awareness about clean technology and thus, increase the popularity of electric vehicles in their countries. Moreover, companies can adopt various multichannel promotional activities such as social network and road shows, to cater to the growing demand for electric vehicles.

Key Findings Of The Study

  • By distribution channel, the aftermarket segment generated the highest revenue in2019.

  • By region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period while considering wireless EV charging market growth.

  • By vehicle type, the commercial EV dominated the global market in terms of revenue in 2019.

  • Latin America leads the market in the LAMEA region.

The key players profiled in the wireless EV charging market share include Continental AG, Robert Bosch GmbH, Qualcomm Inc., Toyota Motor Corporation, Powermat Technologies Ltd, Texas Instruments Inc., Witricity Corporation., Toshiba Corporation., Elix Wireless, and Evatran Group Inc. (plug less power).
 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Wireless Electric Vehicle Charging Market by Power Source (3–<11 kW, 11–50 kW, and >50 kW), Installation (Home, and Commercial), Distribution Channel (OEMs, and Aftermarket), and Vehicle Type (BEV, PHEV, and Commercial EV): Global Opportunity Analysis and Industry Forecast, 2020–2030 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Wireless Electric Vehicle Charging Market"
Purchase Enquiry