Dublin, July 07, 2023 (GLOBE NEWSWIRE) -- The "Wireless Electric Vehicle Charging Systems Market by Type, Component, Technology, Application, Vehicle Type, Power Supply, End Use, Distribution Channel and Geography - Global Forecasts to 2030" report has been added to ResearchAndMarkets.com's offering.
The global wireless electric vehicle charging systems market is projected to reach $2.5 billion by 2030, at a CAGR of 50.1% during the forecast period 2023-2030.
The growth of the wireless electric vehicle charging systems market is driven by the factors such as the rising demand for electric vehicle fast-charging infrastructure for fleet operations, the increasing implementation of wireless charging infrastructure in European countries, and the increasing prevalence of range anxiety. However, the high cost of implementing wireless charging infrastructure restrains the growth of this market.
The standardization of wireless electric vehicle charging systems and the growing use of autonomous vehicles in public transport and logistics are expected to create opportunities for the growth of this market. However, insufficient funding is a challenge to the growth of the overall market.
In 2023, the static segment is expected to account for the larger share of the market and is also projected to record the highest CAGR during the forecast period. Growing favorable initiatives to deploy static charging systems by market players and the convenience of wireless electric vehicle charging are expected to drive the segment's growth.
In 2023, the base pads segment is expected to account for the largest share of global wireless electric vehicle charging systems market.
However, the vehicle pads segment is projected to record the highest CAGR during the forecast period. The growth of this segment is driven by increasing initiatives by automotive companies to incorporate wireless electric vehicle charging capabilities in electric vehicles, increasing pilot projects of wireless electric vehicle charging systems, and standardization of vehicles pad for interoperability.
In 2023, the inductive wireless EV charging systems segment is expected to account for the largest share of the global wireless electric vehicle charging systems market.
However, the capacitive wireless EV charging systems segment is projected to record the highest CAGR during the forecast period. Increasing initiatives in the wireless electric vehicle charging space and the minimal loss of power in transfer using capacitive technology are expected to support segment growth.
In 2023, the 11 kW to 50 kW segment is expected to account for the largest share of the global wireless electric vehicle charging systems market.
The large market share of this segment is attributed to the growing demand for public and private charging infrastructure and the increasing installation of wireless electric vehicle charging systems.
However, the less than 11kW segment is projected to record the highest CAGR during the forecast period. Growing public EV charging infrastructure and increasing collaboration between market players to offer aftermarket wireless electric vehicle charging systems for electric vehicles are expected to support segment growth.
In 2023, the commercial wireless electric vehicle charging systems segment is expected to account for the largest share of the global wireless electric vehicle charging systems market.
However, the residential wireless electric vehicle charging systems is projected to record the highest CAGR during the forecast period. The lower cost of electricity for residential spaces than commercial spaces and the growing number of private electric vehicles are expected to support the segment growth.
In 2023, the battery electric vehicles segment is expected to account for the largest share of the global wireless electric vehicle charging systems market. The large market share of this segment is attributed to the growing adoption of battery electric vehicles and increasing pilot projects regarding wireless electric vehicle charging.
However, the plug-in hybrid electric vehicles segment is projected to record the highest CAGR during the forecast period. Growing initiatives to demonstrate wireless electric vehicle charging for plug-in hybrid electric vehicles by key market players and the growing demand for plug-in hybrid electric vehicles are expected to support the segment growth.
In 2023, the passenger vehicles segment is expected to account for the largest share of the market.
However, the electric two-wheelers segment is projected to record the highest CAGR during the forecast period. The growing demand for public and private charging infrastructure and the increasing installation of wireless electric vehicle charging systems are expected to support the segment's growth.
In 2023, Europe is expected to account for the largest share of the global wireless electric vehicle charging systems market. The increasing number of wireless electric vehicle charging pilot projects throughout Europe, the increasing adoption of electric vehicles in Europe, and supportive government initiatives are driving the growth of the wireless electric vehicle charging systems market in Europe.
Key questions answered in the report
- Which are the high-growth market segments based on type, component, technology, power supply, application, end use, vehicle type and distribution channel?
- What was the historical market for wireless electric vehicle charging systems?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, and opportunities in the wireless electric vehicle charging systems market?
- Who are the major players, and what shares do they hold in the wireless electric vehicle charging systems market?
- What is the competitive landscape in the wireless electric vehicle charging systems market?
- What are the recent developments in the wireless electric vehicle charging systems market?
- What strategies are the major players in the wireless electric vehicle charging systems market adopt?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global wireless electric vehicle charging systems market, and how do they compete with the other players?
Market Dynamics
- Impact Analysis
Case Studies
- Client: The Contra Costa Transportation Authority (U.S.)
- Client: Delta Electronics, Inc. (U.S.)
Porter's Five Forces Analysis
Competition Analysis
- Witricity Corporation (U.S.)
- Mojo Mobility Inc. (U.S.)
- HEVO Inc. (U.S.)
- WAVE LLC (U.S.)
- Continental AG (Germany)
- DAIHEN Corporation (Japan)
- Toshiba Corporation (Japan)
- ZTE Corporation (China)
- ElectReon Wireless Ltd. (Israel)
- Conductix-Wampfler GmbH (Germany)
- Integrated Infrastructure Solutions GmbH (Germany)
- Plugless Power LLC (U.S.)
- TGOOD Global Ltd. (China)
- InductEV Inc. (U.S.)
- Lumen Pty Ltd (Australia)
Scope of the report:
Wireless Electric Vehicle Charging Systems, by Type
- Static
- Dynamic
Wireless Electric Vehicle Charging Systems, by Component
- Base Pads
- Vehicle Pads
- Power Control Units
- Battery Management Systems
Wireless Electric Vehicle Charging Systems, by Technology
- Resonant inductive Wireless Electric Vehicle Charging Systems
- Permanent Magnet Gear Wireless Electric Vehicle Charging Systems
- Capacitive Wireless Electric Vehicle Charging Systems
- Inductive Wireless Electric Vehicle Charging Systems
Wireless Electric Vehicle Charging Systems, by Power Supply
- Less Than 11 kW
- More Than 50 kW
- 11 kW to 50 kW
Wireless Electric Vehicle Charging Systems, by End Use
- Commercial Wireless Electric Vehicle (EV) Charging Systems
- Residential Wireless Electric Vehicle (EV) Charging Systems
Wireless Electric Vehicle Charging Systems, by Vehicle Type
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
Wireless Electric Vehicle Charging Systems, by Application
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Passenger Vehicles
- Electric Two & Three-wheelers
Static Wireless Electric Vehicle Charging Systems, by Distribution Channel
- Aftermarket
- OEM
For more information about this report visit https://www.researchandmarkets.com/r/kvxlt6
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