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Wireless Electric Vehicle Charging Systems Market was at US$ 14 Mn in 2021 and is growing to approx US$ 450 Mn by 2030, with a CAGR growth of 90% | 2022 - 2030.

SANDY, UTAH, UNITED STATES, November 8, 2022 /EINPresswire.com/ -- According to the study, The Global Wireless Electric Vehicle Charging Systems Market was estimated at USD 14 Million in 2021 and is anticipated to reach around USD 450 Million by 2030, growing at a CAGR of roughly 90% between 2022 and 2030.

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Wireless Electric Vehicle Charging Systems Market: Overview

The key factors propelling the growth of the wireless electric vehicle (EV) charging systems market are the rising demand for fast-charging infrastructure for EVs, the expansion of wireless charging infrastructure in European nations, the prevalence of range anxiety, and the standardization of wireless EV charging systems. Major retail MNCs and shared mobility operators worldwide are projected to deploy autonomous vehicles more frequently in public transportation and logistics in the upcoming years, creating considerable growth potential for market participants.

Wireless Electric Vehicle Charging Systems Market: Growth Drivers

The market has increased significantly due to a growing population, rising market demands, and better-developed technologies. The rapid adoption of newly developed innovative technologies with additional benefits from wireless electric vehicle charging, including simplicity of use, absence of carbon dioxide emissions and improvement of the global environment, higher efficiency, low maintenance costs, and reduced shock effects. The vehicle’s battery gets charged through the transfer of electricity from one magnetic coil to another. Electric car wireless charging uses batteries the same size and weight as those used in practical vehicles. These two factors together account for a significant drop in the price of electric automobiles.

Growing demand and more consumer knowledge have allowed the market to expand significantly. Market participants play a significant role in new inventions across regions, and ongoing research and development have helped to improve wireless electric vehicle charging with high market demand.

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Key Insights:

A) As per the analysis shared by our research analyst, the Wireless Electric Vehicle Charging Systems market is estimated to grow annually at a CAGR of around 90% over the forecast period (2022-2030).
B) In terms of revenue, the Wireless Electric Vehicle Charging Systems market was valued at around USD 14 Million in 2021 and is projected to reach USD 450 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on type segmentation, the static wireless EV charging systems segment was estimated to hold the maximum market share in 2021.
D) Based on application segmentation, the commercial wireless EV charging systems segment was the top revenue-generating category in 2021.
E) Based on technology segmentation, the inductive wireless EV charging systems segment is expected to grow at a high CAGR from 2022 to 2030.
F) Based on geography/region, the Europe region was the leading revenue generator in 2021.

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Regional Landscape

The global market for wireless EV charging has expanded due to rising electric car sales in European nations and rising demand for wireless EV charging solutions. However, the high upfront cost of wireless EV charging and the high price of integration limit market expansion. On the other hand, the market participants would have new chances due to the increased demand for high-power contactless inductive charging.

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Key Players

Toyota Motor Corporation
TGOOD Global Ltd
Toshiba Corporation
Momentum Dynamics Corporation
Robert Bosch GmbH
Tesla
Continental AG
HELLA GmbH & Co. KGaA
ZTE Corporation
WiTricity Corporation
Qualcomm Technologies
Renesas electronics
Powermat Technologies
Nidec mobility corporation
Evatran group

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The Wireless Electric Vehicle Charging Systems Market is segmented as follows:

By Power Supply

Less than 11 kW
More than 50 kW
11 kW to 50 kW

By Type

Dynamic
Static

By Component

Base Pads
Vehicle Pads
Power Control Units
Battery Management Systems

By Technology

Capacitive Wireless EV Charging Systems
Permanent Magnet Gear Wireless EV Charging Systems
Inductive Wireless EV Charging Systems
Resonant Inductive Wireless EV Charging Systems

By Propulsion

BEV
PHEV

By Application

Commercial
Residential

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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Take a Look at our other Reports:

Global Electric Vehicle Charging Station Market 2022–2030: https://www.custommarketinsights.com/report/electric-vehicle-charging-station-market/
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Global Electric Bus Charging Station Market 2022–2030: https://www.custommarketinsights.com/report/electric-bus-charging-station-market/
Global Smart Electric Meter Market 2022–2030: https://www.custommarketinsights.com/report/smart-electric-meter-market/
Global Electric Trike Market 2022–2030: https://www.custommarketinsights.com/report/electric-trike-market/

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