Wireless Electric Vehicle Charging Market by Demand and Research Analysis Report

Posted by Vedika on February 20th, 2021

The Global Wireless Electric Vehicle Charging Market size is estimated to be USD 30.9 million in 2019 and is predicted to reach USD 213.7 million by 2030 with a CAGR of 19.2% from 2020-2030.

Wireless Electric Vehicle Charging is a technology which transfers the energy from the source to the consuming device without cables. It is one of the recent developed technologies which is gaining popularity and offer various benefits as compared to the traditional method over the period of time. There has been increased inclination towards the use of electric vehicles and this technology creates safe, reliable and efficient way to charge the vehicle on a daily basis.

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Top Companies: Continental AG, Qualcomm Inc., Robert Bosch Gmbh, Texas Instruments Inc., Toyota Motor Corporation, Witricity Corporation, Powermat Technologies Ltd, Elix Wireless, Evatran Group Inc, and Toshiba Corporation and others.

The global wireless electric vehicle charging market share is analysed on the basis of power source, installation, distribution channel, vehicle type, and geography. On the basis of power source, the market is segmented into 3–50 kW. Based on installation, the market is categorized into home and commercial. Based on distribution channel, the market is fragmented into OEMs and Aftermarket. On the basis of vehicle type, the market is divided into BEV, HEV, and EV Commercial. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

North America denotes a higher adoption of the wireless electric vehicle charging and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including presence of well-established infrastructure, increased inclination towards hybrid vehicles, and technological advancements. Asia Pacific is also expected to contribute the overall market growth with rapid growth rate and considerable growth in market share owing to the high fuel prices and maturation of oil wells. Furthermore, fast developing automotive industry coupled with increase in disposable income are also expected to contribute the growth of wireless electric vehicle charging market in the future.

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