Wireless Electric Vehicle Charging Market Overview

The Wireless Electric Vehicle Charging Market Size is expected to cross USD 258.65 Million by 2027 at a CAGR of 48.82% during the forecast period ending in 2027. During the study era, the global wireless EV charging market observed exponential growth. Increasing electric vehicle development is pushing the wireless electric vehicle charging market to expand globally. Growing demand for dynamic electric vehicle charging (DEVC) technology, growing long-distance driving by electric vehicles, increasing demand for environmentally friendly vehicles, and increasing concern for safety in electric vehicles are the main driving factors for the growth of this sector. The augmented cost and energy loss during transmission are acknowledged as the critical impeding factors for the growth of this market.

Wireless Electric Vehicle Charging market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.

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Globally Major key Players accelerates the Wireless Electric Vehicle Charging Market are, Plugless Power (USA), WiTricity (USA), Nission (Japan), Qualcomm, Inc. (USA), ZTE Corporation (China), ELIX Wireless (Canada), HEVO power (USA), Continental AG (Germany), Toshiba Corporation (Japan), and BMW (Germany).

Growth Drivers:

• Increasing demand for autonomous and semi-autonomous vehicles, growing industrialization, urbanization, and developing economies in emerging countries
• Growing sales and government support for electric vehicles, stringent regulations
• Swelling demand for dynamic electric vehicle charging (DEVC) technology
• Growing long distance drive by electric vehicles, increasing demand for environment friendly vehicles, and emerging concern on safety in electric vehicles

Most important Segments of Wireless Electric Vehicle Charging market covered in this report are,

The global wireless electric vehicle charging market is segmented based on the power supply range, charging type, charging station, charging pad, propulsion, vehicle type, application, and region.

Based on the charging type, the market has been divided into dynamic and stationary wireless electric charging.

Based on the power supply range, the market has been segmented into 20 to < 50 KW, 3 to <7.7 KW, 11to < 20KW, 7.7 to < 11KW), and 50 KW and above.

Based on the charging pad, the market has been segmented into the power control unit, based charging pad, and vehicle charging pad.

Based on the charging system, the market has been divided into home and commercial charging system.

Based on the propulsion type, the market has been bifurcated into the battery and plug-in electric vehicle.

Based on the vehicle type, the market has been divided into passenger EV and commercial EV.

Based on the application, the market has been bifurcated into OEM and aftermarket.

Wireless Electric Vehicle Charging Industry Influence of the global market report:

• Comprehensive assessment of all opportunities and risks in the Wireless Electric Vehicle Charging Market.
• Wireless Electric Vehicle Charging Market recent innovations and major events.
• A detailed study of business strategies for the growth of the Wireless Electric Vehicle Charging Market market-leading players.
• Conclusive study about the growth plot of Wireless Electric Vehicle Charging Market for forthcoming years.
• In-depth understanding of Wireless Electric Vehicle Charging Market, market-particular drivers, constraints, and major micro markets.
• Favorable impression inside vital technological and market latest trends striking the Wireless Electric Vehicle Charging Market.

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The Wireless Electric Vehicle Charging market trends is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period 2022 to 2030.

The global Wireless Electric Vehicle Charging market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.

Wireless Electric Vehicle Charging Market Regional Analysis

The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world. Due to the rising demand for environmentally friendly vehicles, North America is expected to rise at a steady pace on the wireless electric vehicle charging market during the forecast period. The presence of key players in this area, such as Plugless Power, WiTricity, Qualcomm, Inc., and HEVO technology, contributes to this market development. In addition, heightened electric vehicle production and sales are expected to drive growth in this region. Owing to the increased production of electric vehicles from China and Japan, the Asia-Pacific is expected to hold the largest market share over the review period. In addition, increased car production and sales are expected to increase demand for the wireless electric vehicle charging market in this area. In addition, rising disposable income from countries like China, India, and other nations, and increasing population, urbanization, and concentrating on reducing vehicle emissions also drives the market.

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