NEW YORK, May 11, 2020 (GLOBE NEWSWIRE) -- From USD 7.0 million in 2019, the global wireless electric vehicle charging market is predicted to grow to USD 172.6 million by 2025, registering a CAGR of 59.9% during the forecast period (2020–2025).
Industry Insights by Component (Base Charging, Power Control Unit, Vehicle Charging Pad), by Distribution Channel (OEM, After Market), by Application (Home Charging Unit, Public Or Commercial Charging Station), by Charging Type (Dynamic Wireless Charging System, Stationary Wireless Charging System), by Vehicle Type (Commercial Vehicle, Passenger Car), By Charging System (Magnetic Power Transfer, Capacitive Power Transfer, Inductive Power Transfer), By Supply Range (3-<11kW, 11-50kW, >50kW), by Propulsion (BEV, PHEV)
Increasing pollution in the air in overcrowded cities leads to growing respiratory issues in the residents of such cities. These situations have led the government to provide subsidies to pollution depleting initiatives such as development of electric vehicles that is further driving the growth of global wireless electric vehicle charging markets. Furthermore, the leading companies in the battery manufacturing industry are showing great interest in investing towards wireless charging systems as electric vehicles are expected to gain huge momentum in the near future.
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The BEV category, under the propulsion segment, would hold the largest share in the global wireless electric vehicle charging market in 2019
On the basis of propulsion, the global wireless electric vehicle charging market is segmented into BEV and PHEV. The BEV category, under the propulsion segment, would hold the largest share in the global wireless electric vehicle charging market in 2019. This is because of the leading players such as BMW, Nissan and Tesla are offering wireless charging in BEV models such as BMW i3 and Nissan Leaf.
During 2020–2025, the vehicle charging pod segment is expected to witness the fastest wireless electric vehicle charging market growth
Based on component, the global wireless electric vehicle charging market is categorized into base charging, power control unit, vehicle charging pad. During 2020–2025, the vehicle charging pod segment is expected to witness the fastest wireless electric vehicle charging market growth, as these pods helps in providing charging units for electric vehicles may be home, business or public use that offers high ease, flexibility and convenience to the users.
Geography Insight
Geographically, Europe was the largest wireless electric vehicle charging market in 2019. This is owing to the accessibility to well organized infrastructure that enhances the establishment of wireless charging infrastructure in this region. Development of effective infrastructure with access to large number of charging stations along with massive increase in the sale of electric vehicles in the region are the key factors driving the growth of global wireless electric vehicle charging market.
Competitive Insight
Some of the key players operating in the global wireless electric vehicle charging market are HEVO Inc., Integrated Device Technology, Inc., WiTricity Corporation, Robert Bosch GmbH, Toyota Motor Corporation, Daimler AG, Qualcomm Technologies, Continental AG, HELLA KGaA Hueck & Co., Mojo Mobility, and ZTE Corporation.
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Global Wireless Electric Vehicle Charging Market Coverage
Component Insight and Forecast 2015 – 2025
- Base Charging
- Power Control Unit
- Vehicle Charging Pad
Distribution Channel Insight and Forecast 2015 – 2025
- OEM
- After Market
Application Insight and Forecast 2015 – 2025
- Home Charging Unit
- Public Or Commercial Charging Station
Charging Type Insight and Forecast 2015 – 2025
- Dynamic Wireless Charging System
- Stationary Wireless Charging System
Vehicle Type Insight and Forecast 2015 – 2025
- Commercial Vehicle
- Passenger Car
Charging System Insight and Forecast 2015 – 2025
- Magnetic Power Transfer
- Capacitive Power Transfer
- Inductive Power Transfer
Supply Range Insight and Forecast 2015 – 2025
- 3-<11kW
- 11-50kW
- >50kW
Propulsion Insight and Forecast 2015 – 2025
- BEV
- PHEV
Geographical Segmentation
Wireless Electric Vehicle Charging Market by Region
North America
- By Component
- By Distribution Channel
- By Application
- By Vertical
- By Charging Type
- By Vehicle Type
- By Supply Range
- By Propulsion
- By Country – U.S., Canada, and Mexico
Europe
- By Component
- By Distribution Channel
- By Application
- By Vertical
- By Charging Type
- By Vehicle Type
- By Supply Range
- By Propulsion
- By Country – Germany, U.K., France, Russia, Denmark, Netherlands, Sweden, Austria, Spain, Norway, and Rest of Europe
Asia-Pacific (APAC)
- By Component
- By Distribution Channel
- By Application
- By Vertical
- By Charging Type
- By Vehicle Type
- By Supply Range
- By Propulsion
- By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
Rest of the World (RoW)
- By Component
- By Distribution Channel
- By Application
- By Vertical
- By Charging Type
- By Vehicle Type
- By Supply Range
- By Propulsion
- By Country – Brazil, Saudi Arabia, South Africa, and Other Countries
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