DUBLIN, Jun 14, 2021--(BUSINESS WIRE)--The "Wireless Electric Vehicle Charging Market by Power Source, by Installation, by Distribution Channel, by Vehicle Type - Global Opportunity Analysis and Industry Forecast, 2020 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Wireless Electric Vehicle Charging Market was valued at USD 513.5 million in 2019 and is predicted to reach USD 3.75 billion by 2030 with a CAGR of 19.8% from 2020-2030.
Robert Bosch Gmbh
Texas Instruments Inc.
Toyota Motor Corporation
Powermat Technologies Ltd
Integrated Device Technology, Inc
Wireless Electric Vehicle Charging technology helps in charging the EV's without using any charging cables. As a result, users need not to wait in charging stations for hours and can charge their vehicle anywhere even in driving mode if the roads are embedded with a series of coils connected to an electric source. Wireless electric vehicle charging not only provides safe and convenient charging solution but also helps to charge the vehicle faster. It also helps to reduce the size of batteries installed in electric vehicle and can be used in any weather condition.
Market Dynamics and Trends:
Rising inclination towards electric vehicle due to increasing pollution caused by fossil fuel-based car, growing demand of energy-efficient sources and increasing investment for developing fast charging technologies are the major factors driving the growth of wireless electric vehicle charging market. Also, factors such as growing research in the field of wireless charging technologies, surging demand of consumer for convenient charging features and increasing oil prices are boosting the market growth. However, high cost of the wireless charging devices, technological challenges and lack of infrastructure developments are the factors expected to restrain the market growth. On the other hand, government encouragement towards wireless charging vehicles and advancement in newer technologies are expected to create ample growth opportunities for the market in the coming years.
Market Segmentations and Scope of the Study
The global wireless electric vehicle charging market is categorized on the basis of power source, charging method, installation, distribution channel, vehicle type and geography. On the basis of power source, the market is segmented into 3-< 11 kW, 11-50 kW, and >50 kW. On the basis of charging method, the market is divided into capacitive wireless power transfer (CWPT), magnetic gear wireless power transfer (MGWPT), resonant inductive power transfer (RIPT), and inductive power transfer (IPT). On the basis of installation, the market is classified into home and commercial. On the basis of distribution channel, the market is categorized into OEMs and aftermarket. On the basis of vehicle type, the market is bifurcated into BEV, PHEV, and Commercial EV. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
North America holds the lion share of the wireless electric vehicle charging market. This is attributed to the factors such as increasing adoption of electric vehicle, and growing advancement in automotive sector in this region. Europe is also expected to grow rapidly in terms of market share of the wireless electric vehicle charging market during the forecast period. This is due to factors such as availability of developed infrastructure, increasing sale of electric vehicle and presence of leading market players such as Continental AG and Robert Bosch GmbH.
Key Topics Covered:
2. Market Snapshot, 2019-2030 Million USD
3. Porter's Five Force Model Analysis
4. Market Dynamics
5. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Power Source
6. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Vehicle Type
7. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Installation
8. Global Wireless Electric Vehicle Charging (Wevc) Technology Market, by Region
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/gvmvfh
View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005304/en/
Laura Wood, Senior Press Manager
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