Electric Vehicle Wireless Charging Market Forecasts to 2028 – Global Analysis By Vehicle Type (Commercial Vehicles and Passenger Cars), By Power Supply (3-<11 KW, 11-50 KW and >50 KW), By Component, By Charging System, By Charging Type, By Propulsion Type

Electric Vehicle Wireless Charging Market Forecasts to 2028 – Global Analysis By Vehicle Type (Commercial Vehicles and Passenger Cars), By Power Supply (3-<11 KW, 11-50 KW and >50 KW), By Component, By Charging System, By Charging Type, By Propulsion Type, By Distribution Channel, By End User and By Geography

According tStratistics MRC, the Global Electric Vehicle Wireless Charging Market is accounted for $32.53 million in 2022 and is expected treach $249.13 million by 2028 growing at a CAGR of 40.4% during the forecast period. Electric vehicle wireless charging has a variety of advantages, including convenience, efficiency, and aesthetics. Electric vehicle wireless charging is still in its development as of now. The market is expected tbe driven by rapid technical advancements, an increased emphasis on research and development (R&D) activities, and strict emission regulations.

According tthe International Council on Clean Transportation (ICCT) 2021 report, the electrical automobile industry within the U.S. has increased from 1000’s automobiles sold in 2010 tmore than 315,000 automobiles sold from 2018 t2020.

Market Dynamics:

Driver:

Rapid development of fast-charging infrastructure

More public charging stations are required due tthe rise in electric vehicle owners. The need for public fast charging is anticipated tincrease in the upcoming years as the base of electric vehicles expands and electrifies new use cases. Electric car owners ought not tworry about the grid connection because the batteries in EVs can charge automatically whenever and wherever they are parked. Air pollution has decreased due tthe global expansion of wireless electric vehicle charging technologies.

Restraint:

Upgrade twireless charging technology costs

Since high voltage and high power are required for EV charging, the cost and safety concerns with wireless charging devices are expected trestrain expansion. Also, the wireless charging system demands the installation of an additional charger within the electric car, raising the price of the car overall. In addition, it is predicted that these issues will limit market expansion in the upcoming years. Also, compared ta wired charger, upgrading a wireless electric vehicle charger tthe most recent edition is more difficult, which could restrain market growth over the forecast period.

Opportunity:

Surge in electric vehicle sales

Global sales of electric vehicles increased by 41% taround 3 million in 2020 from the year before. The environment created by government policy continues tbe a primary driver of the increase in the number of electric vehicles. Other factors boosting EV sales include expanded charging infrastructure, an increase in demand and supply-side factors, price parity with conventional vehicles due tfederal subsidies, manufacturer outreach programs, and decreasing battery prices. The market for electric vehicle wireless charging is predicted texpand in the upcoming years as more electric vehicles are placed on the road.

Threat:

Reducing efficiency loss

The market for electric vehicles has seen rapid expansion in wireless charging technology. The electric vehicle can be charged with this technique by simply parking it below the base panel and making nmanual connections. Wireless charging technology does have some drawbacks, though. When compared tconventional power transfer, the power loss in wireless charging technology is around 7–12% higher. Also, the distance over which a wireless charger may transmit using electromagnetic induction and/or magnetic resonance is constrained. Manufacturers have a significant hurdle as a result of this range restriction, particularly in the case of LCVs and SUVs with high ground clearance. The proportion of power efficiency ttransmitter-to-receiver separation is inversely proportional.

Covid-19 Impact:

Due ta lockdown in some nations that limited the production of EVs, the COVID-19 crisis in 2020 caused a slowdown in the worldwide autpart and car manufacturing industries. According tdemand, further infrastructure is needed for EV charging. Due twidespread lockdowns and governmental limitations, major investments in the construction of electric car charging infrastructure have been delayed. This has affected the majority of EV supply equipment manufacturers worldwide.

The battery electric vehicles segment is expected tbe the largest during the forecast period

As wireless charging technologies are more widely used in BEVs than PHEVs during the projection period, the battery electric vehicles (BEV) segment is anticipated thave the largest share of the market by propulsion. In BEVs, the battery is the only source of electricity and thus needs tbe charged regularly. Moreover, the wireless charging system is installable in offices, malls, public spaces, and garages. In the upcoming years, it is anticipated that growing investments in wireless charging technology for battery electric vehicles by numerous nations, including Germany, Sweden, the US, and Italy, among others, will favorably impact the BEV segment of the wireless charging market for electric vehicles.

The commercial charging station segment is expected thave the highest CAGR during the forecast period

Due tthe rising demand for commercial wireless electric vehicle charging systems across China, the high prevalence of commercial wireless electric vehicle charging systems in Europe, and the growing need tdevelop electric vehicle charging infrastructure at public locations, the commercial charging station segment is anticipated tregister the highest CAGR over the forecast period. Furthermore, the presence of substantial commercial garage parking spaces and highly populated urban areas is primarily responsible for this segment's rapid growth.

Region with largest share:

Due tthe adoption of high-end technological products by electric vehicle manufacturers and government initiatives tpromote charging infrastructures, Asia Pacific is expected tdominate as the region with the largest market revenue share throughout the projection period. Furthermore, it is anticipated that improvements in automotive technology, expanding EV usage, and increased vehicle production will drive up product demand in this region.

Region with highest CAGR:

Over the projection period, Europe is anticipated thave the highest CAGR due tthe presence of sustainable infrastructures tsupport the sale of electric vehicles. The major manufacturing base and the main economy for wireless charging stations are anticipated tbe in Europe. Furthermore, whenever people are shopping for a car, electric vehicles are considered a feasible option. Over the last few years, the number of electric car sales in the European region has increased. However, predicted growth in sales will offer opportunities for some technologies, such as wireless infrastructure for charging electric vehicles.

Key players in the market

Some of the key players in Electric Vehicle Wireless Charging market include Continental Ag, Evatran Group (Plugless), HELLA Gmbh & Co. Kgaa, Integrated Device Technology, IPT Group, Momentum Dynamics Corporation, Nidec Mobility Corporation, Powermat Technologies Ltd, Qualcomm Technologies, Robert Bosch Gmbh, Tesla, Texas Instruments Inc, Toshiba Corporation, Toyota Motor Corporation, Witricity Corporation And Zte Corporation.

Key Developments:

In February 2021, IPT Group takes over PRIMOVE E-mobility Wireless Charging Technology PortfoliIPT Group acquired PRIMOVE tthe scale-up its product portfoliin wireless power transfer for electric mobility. This acquisition helps taccelerate IPT’s offering of a complete product portfolitserve several markets.

In January 2021, Alibaba Partners with SAIC tUnveil Electric Car with Wireless Charging Alibaba Group Holding, a China-based e-commerce group, launched an electric car with wireless charging under the joint venture brand IM ‘intelligence in motion’ formed with SAIC Motor Corporation Ltd.

Vehicle Types Covered:
• Commercial Vehicles
• Passenger Cars

Power Supplies Covered:
• 3-<11 KW
• 11-50 KW
• >50 KW

Components Covered:
• Base Charging Pad
• Vehicle Charging Pad
• Power Control Unit

Charging Systems Covered:
• Operational Data
• Inductive Power Tranfer
• Magnetic Power Transfer
• Capacitive Power Tranfer

Charging Types Covered:
• Stationary Wireless Charging System
• Dynamic Wireless Charging System

Propulsion Types Covered:
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)

Distribution Channels Covered:
• Aftermarket
• Original Equipment Manufacturers (OEMs)

End Users Covered:
• Home Charging Unit
• Commercial Charging Station
• Resonant Inductive Wireless EV Charging Systems
• Capacitive Wireless EV Charging Systems
• Permanent Magnet Gear Wireless EV Charging Systems
• Inductive Wireless EV Charging Systems
• Residential Wireless EV Charging Systems
• Commercial Wireless EV Charging Systems

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances