Global Wireless Electric Vehicle (EV) Charging Market – Industry Trends and Forecast to 2030

Global Wireless Electric Vehicle (EV) Charging Market, By Propulsion Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Commercial EV) Charging, System (Magnetic Power Transfer, Inductive Power Transfer, Capacitive Power Transfer) Charging Type (Dynamic Wireless Charging System, Stationary Wireless Charging System, Component (Base Charging Pad, Power Control Unit, Vehicle Charging Pad, Battery Management Systems), Power Supply (3-11KW, 11-50KW, Less than 50KW) Vehicle Type (Passenger Vehicles , Commercial Vehicle, Others), Distribution Channel (Aftermarket, OEM) Charging Method (Capacitive Wireless Power Transfer (CWPT), Magnetic Gear Wireless Power Transfer (MGWPT) ,Resonant Inductive Power Transfer (RIPT), Inductive Power Transfer (IPT)) Application (Commercial Charging Stations, Home Charging Unit) – Industry Trends and Forecast to 2030.

Wireless Electric Vehicle (EV) Charging Market Analysis and Size

The growing adoption of autonomous driving technology by automotive OEMs is a key driver for the wireless charging market. Governments worldwide, including the US, Germany, and Italy, are making significant investments in smart road infrastructure, coupled with increasing support for wireless charging. These factors are creating lucrative opportunities for the wireless charging market. The integration of wireless charging technology with autonomous vehicles and the expansion of smart road initiatives are expected to drive market growth in the coming years.

Data Bridge Market Research analyses that the wireless electric vehicle (EV) charging market, valued at USD 15 million in 2022, will reach USD 437.86 million by 2030, growing at a CAGR of 52.46% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.     

Wireless Electric Vehicle (EV) Charging Market Scope and Segmentation  

Market Definition

Smart wireless charging technology for electric vehicles eliminates the need for extension cords and cumbersome wired connections. This system enhances the convenience of charging EVs at home or work by offering a seamless and hassle-free experience. With smart technology, EV owners can simply park their vehicles over a charging pad, enabling efficient and effortless charging without the limitations of wired charging systems.

Wireless Electric Vehicle (EV) Charging Market Dynamics

Drivers

• Advantages of wireless charging over wired charging 

 Wireless charging offers several advantages over traditional wired charging methods. It eliminates the need for physical cables and connectors, providing a seamless and convenient charging experience. With wireless charging, there is no risk of wear and tear or damage to charging cables. It also enhances safety by reducing the risk of electric shock. Additionally, wireless charging enables greater flexibility and convenience, allowing for effortless charging without the need for precise alignment or physical connections.

• Increasing support from governments for wireless charging

Governments worldwide are recognizing the potential of wireless charging for electric vehicles (EVs) and are actively supporting its development. With tax relaxation and financial incentives, governments aim to encourage the adoption of EVs and the deployment of wireless charging infrastructure. The advantages of wireless charging, including increased convenience, enhanced safety, and reduced reliance on charging stations, have attracted significant attention. For instance, a company called Char.gy received a substantial investment of USD 3.01 million to implement wireless charging technology on residential streets, further driving the advancement of this promising EV charging solution.

Opportunities

• Technological advancements

The wireless electric vehicle charging market is witnessing continuous technological advancements, such as improved efficiency, higher power transfer capabilities, and longer charging distances. These advancements enhance the feasibility and attractiveness of wireless EV charging solutions. Ongoing research and development efforts present opportunities for innovation and the introduction of more efficient and advanced wireless charging technologies.

• Collaborations and partnerships

Collaboration between automakers, charging infrastructure providers, and technology companies can drive the growth of the wireless EV charging market. Partnerships can facilitate the integration of wireless charging capabilities into electric vehicle models, expand the charging network, and improve interoperability between different charging systems. Collaborations can accelerate the adoption of wireless charging and create a more seamless and interconnected charging ecosystem.

Restraints/Challenges

• High cost of wireless EV charging

The cost of wireless EV charging technology poses a challenge to its widespread adoption. The need for substantial investment in infrastructure components and associated equipment increases the overall expenses compared to traditional plug-in charging solutions. This cost barrier may hinder the market penetration of wireless charging, particularly in price-sensitive markets. However, ongoing advancements and economies of scale are expected to drive cost reductions, making wireless EV charging more affordable and accessible in the future.

• Low effective and  charging speed

Wireless charging systems typically have lower efficiency compared to wire charging. There are energy losses during the transfer of power wirelessly, which can result in slower charging speeds and increased charging times. This limitation can be a challenge for drivers who require quick charging and may prefer wired charging options that offer faster charging speeds.

This wireless electric vehicle (EV) charging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wireless electric vehicle (EV) charging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 2021, In the Austin, Texas, Flex contract industrial plant, HEVO industrialised a ground-based pad and began production and manufacture. 200 units are predictable to be ordered, according to approximations, in the first quarter of 2021.
• In 2021, The Toyota Motor Company plans to make cutting-edge technologies, such as a wireless electric power transfer structure that allows a car to be charged even as it is existence driven. In this system, charging mechanisms for roads on highways or city crossings are involved.

Wireless Electric Vehicle (EV) Charging Market Scope

The wireless electric vehicle (EV) charging market is segmented on the basis of propulsion type, charging system, charging type, component, power supply, vehicle type, distribution channel, charging method and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Propulsion Type

• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Commercial EV

Charging System

• Magnetic Power Transfer
• Inductive Power Transfer
• Capacitive Power Transfer

 Charging Type

• Dynamic Wireless Charging System
• Stationary Wireless Charging System

Component

• Base Charging Pad
• Power Control Unit
• Vehicle Charging Pad
• Battery Management Systems

Power Supply

• 3-11KW
• 11-50KW
• Less than 50KW

Vehicle Type

• Passenger Vehicles
• Passenger Cars
• Commercial Vehicle
•  Light Commercial Vehicles
• Heavy Commercial Vehicles
• Passenger Vehicles
• Others
• Electric Two-wheelers

Distribution Channel

• Aftermarket
• OEM

Charging Method

• Capacitive Wireless Power Transfer (CWPT)
• Magnetic Gear Wireless Power Transfer (MGWPT)
• Resonant Inductive Power Transfer (RIPT)
• Inductive Power Transfer (IPT)

 Application

• Commercial Charging Stations
• Home Charging Unit

Wireless Electric Vehicle (EV) Charging Market Regional Analysis/Insights

The wireless electric vehicle (EV) charging market is analysed and market size insights and trends are provided by propulsion type, charging system, charging type, component, power supply, vehicle type, distribution channel, charging method and application as referenced above

The countries covered in the wireless electric vehicle (ev) charging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the wireless electric vehicle (EV) charging market because of the high demand for wireless charging system coupled with the electric vehicle production and consumer demand within this particular region.

Europe is expected to dominate at a significant growth rate over the forecast period of owing to the easy availability of feasible infrastructures to support electric vehicle sale in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Wireless Electric Vehicle (EV) Charging Market Share Analysis

The wireless electric vehicle (EV) charging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wireless electric vehicle (EV) charging market.

Some of the major players operating in the wireless electric vehicle (EV) charging market are:

• ABB (Switzerland)
• Alfen N.V. (Netherlands)
• Allego B.V. (Netherlands)
• Siemens (Germany)
• EVgo Services LLC. (U.S.)
• Leviton Manufacturing Co., Inc. (U.S.)
• Continental AG (Germany)
• Qualcomm Technologies, Inc (U.S.)
• TOYOTA MOTOR CORPORATION (Japan)
• Bombardier (Canada)
• WiTricity Corporation. (U.S.)
• HELLA GmbH & Co. KGaA (Germany)
• TOSHIBA CORPORATION (Japan)
• ZTE Corporation (China)
• WiTricity Corporation (U.S.)
• Momentum Dynamics Corporation (U.S.)
• Qualcomm Incorporated (U.S.)
• Continental AG (Germany)
• Evatran Group Inc. (U.S.)
• Plugless Power Inc. (U.S.)
• Chargemaster plc (U.K.)