Global Automotive Inductive Wireless Charging Systems Market Growth 2023-2029

Global Automotive Inductive Wireless Charging Systems Market Growth 2023-2029

Electric vehicles are gaining importance in modern times because of the rise in global fuel prices and alarming levels of air pollution. There is widespread concern about the negative effects of global warming. In such a scenario the rapid adoption of electric vehicles is seen as the most viable solution. The time taken to charge electric vehicles was one of the major concerns, but with the advent of wireless inductive charging this issue has been resolved. Inductive wireless charging is considered a major breakthrough as it has made the use of plugs and cords redundant. Inductive charging takes place when an electromagnetic field transfers energy between two coils.

Advantages

Protected connections – No corrosion when the electronics are all enclosed, away from water or oxygen in the atmosphere. Less risk of electrical faults such as short circuit due to insulation failure, especially where connections are made or broken frequently.

Low infection risk – For embedded medical devices, transmission of power via a magnetic field passing through the skin avoids the infection risks associated with wires penetrating the skin.

Durability – Without the need to constantly plug and unplug the device, there is significantly less wear and tear on the socket of the device and the attaching cable.

Increased convenience and aesthetic quality – No need for cables

Disadvantages

Slower charging – Due to the lower efficiency, devices take longer to charge when supplied power is the same amount.

More expensive – Inductive charging also requires drive electronics and coils in both device and charger, increasing the complexity and cost of manufacturing.

LPI (LP Information)' newest research report, the “Automotive Inductive Wireless Charging Systems Industry Forecast” looks at past sales and reviews total world Automotive Inductive Wireless Charging Systems sales in 2022, providing a comprehensive analysis by region and market sector of projected Automotive Inductive Wireless Charging Systems sales for 2023 through 2029. With Automotive Inductive Wireless Charging Systems sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Automotive Inductive Wireless Charging Systems industry.

This Insight Report provides a comprehensive analysis of the global Automotive Inductive Wireless Charging Systems landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Automotive Inductive Wireless Charging Systems portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Automotive Inductive Wireless Charging Systems market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Automotive Inductive Wireless Charging Systems and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Automotive Inductive Wireless Charging Systems.

The global Automotive Inductive Wireless Charging Systems market size is projected to grow from US$ 192.6 million in 2022 to US$ 2814 million in 2029; it is expected to grow at a CAGR of 2814 from 2023 to 2029.

Currently, The industry concentration is high, the technical barriers and financial barriers of Automotive Inductive Wireless Charging Systems are also high. In particular, as the market leader in Automotive Inductive Wireless Charging Systems, Bosch take the global market share of about 44%, other key manufacturers include Qualcomm, Texas Instruments, WiTricity, Fulton Innovation.

This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Inductive Wireless Charging Systems market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Electromagnetic Induction

Magnetic Resonance

Segmentation by application

Passenger Vehicles

Commercial Vehicles

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Bosch

Qualcomm

Texas Instruments

WiTricity

Fulton Innovation

Key Questions Addressed in this Report

What is the 10-year outlook for the global Automotive Inductive Wireless Charging Systems market?

What factors are driving Automotive Inductive Wireless Charging Systems market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Automotive Inductive Wireless Charging Systems market opportunities vary by end market size?

How does Automotive Inductive Wireless Charging Systems break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.