Wired Charging Market

Wired Charging Market Outlook - 2030

The global wired charging market size was valued at $11.1 billion in 2020, and is projected to reach $15.9 billion by 2030, growing at a CAGR of 3.9% from 2020 to 2030. Wired charging is done using a wire and is primarily used in the charging of consumer electronics such as mobile phones, laptops, tablets and other, electric vehicle and many other products used in healthcare, energy & power sectors. Wired charging plays an important role in the daily lives of humans, as everyone is surrounded by chargeable gadgets. Rise in demand for mobile & laptops in this decade led to increase in demand for wired chargers, which acts as the major driving factor for the market. In addition, rise in demand for electric vehicle also boosts the demand for wired charging. 

Emergence of COVID-19 has declined growth of the Wired Charging market in 2020, owing to the outbreak that recorded a huge decline in sale of mobiles & tablets in 2020, which also led to decline in sale of wired charging.

Moreover, developed nations such as U.S., China and Japan play a significant role in the wired charging market, as Japan is the world's third largest light-duty plug-in vehicle country market after China and the U.S. Furthermore, the government of every nation wants new cars to be electrified to become carbon neutral by 2050, electric vehicles have become more of a necessity for the country to meet these targets. At present, there are around 300 EV charging companies globally, including nearly 100 in North America. In addition, there more than 40,000 charging station across the globe.

In addition, the lack of sufficient coordination among existing charging providers can be improved to offer better charging service to customers. The government announced subsidies for installation of charging facilities totaling $0.89 billion as part of its economic policy for fiscal year 2013 to quickly develop the charging infrastructure and expand the use of electric-powered vehicles using alternative energy sources. With this strong support, automakers such as the joint venture of four automakers (Toyota, Nissan, Honda and Mitsubishi) are anticipated to work together to install the chargers in Japan. Previously, each automaker assessed possible locations for charging facilities on their own. Now, they have agreed to work jointly under the common understanding that the charging infrastructure has public value and that enhancing it should be done quickly during the limited period that the subsidies are available

The wired charging market is segmented on the basis of type, charging type, application, sales channel and region. Depending on type, the market is categorized into Type C, Micro USB, lightning and others. On the basis of charging type, it is divided into standard and fast charging. On the basis of application, it is classified into personal care, consumer electronics, automotive, energy & power, healthcare and others. Sales channel-wise, it is categorized into online and offline. Region wise it categorized into North America, Europe, Asia-Pacific and LAMEA.

The global wired charging industry analysis covers in-depth information about the major industry participants.

Global wired charging market, by type

By Type, the type C segment dominated the global wired charging market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to its compatible nature and easy availability. In addition, Type C is more portable than other wired cable, since it is easier to fit and has long life than other cables which also act as the major driving factor for the market

Global wired charging market, by charging type

By charging type, the standard segment dominated the global wired charging market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to effective price across the globe. In addition, standard charging provides better input to gadget which provide extra safety to battery free from ran out.

Global wired charging market, by application

By application, the consumer electronics segment dominated the global market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed due to increase in demand mobile, laptops and other electronic gadgets across the globe. In addition, rise in laptop demand due to work from culture led to increase the demand of consumer electronics

Global wired charging market, by sales channel

By sales channel, the offline segment dominated the global wired charging market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to easy availability and quick service. In addition, electric charger requires installation by company operating team which is also the main growing factor of offline sales channel.

Global wired charging market, by region

By region, the Asia Pacific is dominated the global wired charging market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to easy availability and quick service. In addition, electric charger requires installation by company operating team which is also the main growing factor of offline sales channel.

Key Benefits For Stakeholders

• The report provides an in-depth analysis of the global wired charging market trends along with the current and future wired charging market forecast.
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
• Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global market for strategy building.
• A comprehensive global wired charging market analysis covers factors that drive and restrain the market growth.
• The qualitative data in this report aims on market dynamics, trends, and developments.

Impact Of Covid-19 On The Global Wired Charging Market

• Sales of wired charging is directly proportional to sales of mobiles, tablets and other gadgets. Global companies such as Philips, Panasonic, Sony, Canon, Nikon, Casio, Pioneer and others, has a significant share in the manufacturing of mobiles, camera, smartwatches and others. The gadget (mobile, tablets, except laptop) industry has been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in sale of mobiles & tablets in 2020, which also led to decline in sale of wired charging.
• The spread of the coronavirus had a severe impact on global economy through declines in exports, output, demand from overseas tourists and private use. The major exporter of electronic items and decrease in demand for electronics led to decline in demand for wired charging and shows a huge decline in the market.
• Electric cars charging system is the major market for wired charging market, but due to the heavy cost of electric cars, the sales of electric car were decline in covid-19 situation, which also led to decline the sales of wired charging market.
• COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global market due to impact of COVID-19. 
• The electronic industry acquired a significant share in terms of consumption of wired charging in global. Attributed to the outbreak of COVID-19 pandemic, the demand for electronic item such as laptops has increased due to increase in work from home culture, which in turn increase the demand for wired charging also.
• Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using wired charging and thereby affecting the global wired charging market. 
• According to the UNIDO, 30.0%–70.0% of pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors migrated to their hometowns, due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in demand for raw materials used in wired charging. This is expected to decline the growth of the market during the forecast period. 
• The automotive production garners a major share in terms of usage of wired charging. The automotive industry has been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded decline in vehicles on road (passenger & commercial) in 2020. This has further declined the wired charging demand due to disrupted supply chain, which, in turn, hampered the global wired charging market.
• After the reopening of lockdown, people are avoiding use of public transport, and a significant share of people purchased their own car to travel, which led to increase in demand for car and car battery terminal wiring also plays a wide role in wired charging market. However, after lockdown it shows positive impact on sales on wired charging.

 Wired Charging Market Report Highlights