Richmond, Nov. 09, 2023 (GLOBE NEWSWIRE) -- According to a research report "Automotive Wireless Charger Market, by Power (5 W Charger, 10 W Charger, 15 W Charger), Charger Type (Built-in Chargers, Qi Charger, Portable Chargers {Windshield Mounts, Vent Mounts, Dash Mounts}), Technology (Inductive Chargers, Resonant Chargers, Radio Frequency Chargers), Vehicle Category (Passenger Vehicles {Mid-Size, Compact, Luxury, SUVS} Commercial Vehicles), Sales Channel (OEM’s, Aftermarket), and Region.
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The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The automotive wireless charger market is a rapidly growing market, driven by the increasing adoption of electric vehicles (EVs) and the rising demand for comfort and convenience. Wireless charging offers a number of advantages over traditional plug-in charging, including convenience, safety, and efficiency. As EV adoption continues to grow, the demand for wireless charging systems is expected to increase significantly. Wireless charging systems can be integrated into the road surface or into parking spaces, allowing EVs to charge automatically as they drive or park. This can help to reduce range anxiety and make EV ownership more convenient.
In addition to EVs, wireless charging systems are also being developed for other types of vehicles, such as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and even conventional gasoline-powered vehicles. Wireless charging systems can also be used to charge a variety of other devices, such as smartphones, tablets, and laptops The key drivers of the automotive wireless charger market include the increasing adoption of electric vehicles (EVs), the rising demand for comfort and convenience, government support for wireless charging technology, technological advancements, and the growing demand for semi-autonomous and autonomous vehicles.
The key trends in the automotive wireless charger market include the increasing adoption of wireless charging systems in luxury vehicles, the development of new and improved wireless charging systems, and the integration of wireless charging systems with smart grid technologies.
Major vendors in the global Automotive Wireless Charger Market - HARMAN, 2E, Aircharge, Belkin, Continental, etatronix, hoco Tech, Huawei, Infineon, LG, MPS, NXP, Powermat, ROHM, Delphi Technologies, Denso, TDK, Qualcomm, STMicroelectronics, Texas Instruments, Würth Elektronik eiSos and Others.
Increasing adoption of electric vehicles (EVs)
The increasing adoption of electric vehicles (EVs) is a major driver for the automotive wireless charger market. EVs offer a number of advantages over traditional gasoline-powered vehicles, including lower operating costs and reduced emissions. However, one of the challenges associated with EVs is the need to charge them regularly. Wireless charging offers a convenient and efficient way to charge EVs, without the need to plug and unplug charging cables. As EV adoption continues to grow, the demand for wireless charging systems is expected to increase significantly.
Wireless charging systems can also be integrated with smart grid technologies to enable vehicle-to-grid (V2G) charging. V2G charging allows EVs to store excess energy from the grid and then discharge it back to the grid when needed. This can help to balance the grid and reduce demand during peak periods.
Market Dynamics
Drivers:
- Rising demand for comfort and convenience
- Government support for wireless charging technology
- Increasing demand for luxury vehicles
Opportunities:
- Increasing Technological Advancement
- Growing demand for semi-autonomous and autonomous vehicles
Integration Of Wireless Charging Systems With Smart Grid Technologies
The integration of wireless charging systems with smart grid technologies is a growing trend in the automotive industry. Smart grid technologies allow for the two-way flow of energy between the grid and consumers. This means that electric vehicles (EVs) with wireless charging capability can not only be charged by the grid, but can also discharge energy back to the grid when needed.
This integration has a number of potential benefits. For example, EVs with wireless charging capability can be used to store excess energy from renewable energy sources, such as solar and wind power. This can help to balance the grid and reduce demand during peak periods. Additionally, EVs with wireless charging capability can be used to provide backup power to homes and businesses during power outages.
There are a number of ways to integrate wireless charging systems with smart grid technologies. One common approach is to use a vehicle-to-grid (V2G) system. V2G systems allow EVs to communicate with the grid and coordinate their charging and discharging activities. This helps to ensure that EVs are charged at the most efficient times and that they are not discharging energy when it is needed on the grid.
Another approach to integrating wireless charging systems with smart grid technologies is to use a virtual power plant (VPP). VPPs aggregate a large number of distributed energy resources, such as EVs with wireless charging capability, and manage them as a single power plant. This allows VPPs to participate in the electricity market and provide a variety of grid services, such as frequency regulation and load balancing.
The integration of wireless charging systems with smart grid technologies is a promising trend with the potential to deliver a number of benefits for both consumers and the grid. As wireless charging technology continues to evolve and become more widely adopted, we can expect to see even more innovative and groundbreaking V2G and VPP solutions in the future.
The market for Automotive Wireless Charger Market is dominated by North America.
Asia Pacific are dominating the Automotive wireless charging system. The Asia Pacific region is home to the world's largest EV market, with China accounting for over half of global EV sales in 2022. The increasing adoption of EVs is driving demand for wireless charging systems, as they offer a convenient and efficient way to charge EVs. Governments in the Asia Pacific region are supportive of the development and adoption of wireless charging technology. Asia Pacific companies are at the forefront of wireless charging technology development. For example, Chinese companies such as Witricity and Shenzhen Wireless Technology Co., Ltd. are leading players in the global Automotive wireless charging market.
North America is a growing region for the automotive wireless charger market, driven by the increasing adoption of electric vehicles (EVs) and the rising demand for comfort and convenience. In addition, the North American government is supportive of the development and adoption of wireless charging technology. In 2023, the US Department of Energy (DOE) announced a $10 million funding opportunity for projects that develop and demonstrate wireless charging technologies for electric vehicles. In 2022, the Wireless Power Consortium (WPC), a global industry association that promotes wireless charging technology, announced that it is opening a new office in Detroit, Michigan. This move is seen as a sign of the growing importance of the North American market for wireless charging.
The Direct-to-satellite Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
The passenger vehicle segment is the major share in the automotive wireless charger market, accounting for over 46% of the market share in 2022. This is due to a number of factors, including the increasing adoption of electric vehicles (EVs) in the passenger vehicle segment, the rising demand for comfort and convenience, and government support for wireless charging technology.
Passenger vehicles are also expected to remain the major share in the automotive wireless charger market in the coming years. This is due to the continued growth of the EV market in the passenger vehicle segment, as well as the increasing adoption of wireless charging systems in luxury vehicles.
Many major automakers are now offering wireless charging systems as standard or optional features on their passenger vehicles. For example, BMW, Mercedes-Benz, and Audi all offer wireless charging systems on some of their passenger vehicles.
Governments around the world are offering incentives to promote the adoption of EVs and wireless charging technology. For example, the US government offers a tax credit of up to $7,500 for the purchase of an EV, and some states also offer additional incentives for the purchase of EVs with wireless charging capability. Overall, the passenger vehicle segment is the major share in the automotive wireless charger market and is expected to remain so in the coming years. This is due to the increasing adoption of EVs in the passenger vehicle segment, the rising demand for comfort and convenience, and government support for wireless charging technology.
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Recent Developments
- In April 2023, the Wireless Power Consortium (WPC) announced that it has released a new Qi 2.0 specification. This new specification offers a number of improvements over the previous Qi 1.3 specification, including faster charging speeds, support for multiple devices, and better foreign object detection.
- In August 2023, Qualcomm announced that it has launched a new wireless charging chip, the Snapdragon 8 Gen 2. This new chip is designed to support faster and more efficient wireless charging for a variety of devices, including smartphones, tablets, and laptops.
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