Market Analysis: Global Wireless EV Charging Market
Global wireless EV charging market is expected to rise from its initial estimated value of USD 1.67 million in 2018 to an estimated value of USD 844.25 million by 2026, registering a CAGR of 117.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in electric vehicles on the road.
Key Market Competitors: Global Wireless EV Charging Market
Few of the major competitors currently working in the wireless EV charging market are Continental AG, Robert Bosch GmbH, Qualcomm Technologies Inc., Toyota Motor Corporation, Bombardier Inc., WiTricity Corporation, HELLA GmbH & Co. KGaA, EVATRAN GROUP, TOSHIBA CORPORATION, ZTE Corporation, ELIX Wireless, HEVO Power, AddÉnergie Technologies Inc., Blink Charging Co., ChargePoint Inc., ClipperCreek, EVgo Services LLC, Leviton Manufacturing Co. Inc., Semaconnect, ABB, Alfen N.V., Allego B.V., Siemens AG, Efacec, IONITY GmbH, Schneider Electric, SAMSUNG SDI CO.LTD., TGOOD Global Ltd., Automotive Energy Supply Corporation, Tritium Pty Ltd, and Mitsubishi Electric Corporation.
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Market Definition: Global Wireless EV Charging Market
Wireless EV charging can be defined as the method of charging vehicles without the use of any wires while they are in motion or are fixed at the charging stations. This method of charging involves the vehicles to be incorporated with a power receiving coil installed underneath the vehicle’s surface and the power transmitting coil to be situated on the charging station so that the power can be transferred and the battery of the vehicles can be charged.
- Growing demand for electric vehicles and availability of electric vehicles on the road is expected to drive the market growth
- Increase in usage of electric vehicles and distance travelled by these vehicles is also expected to drive the market growth
- High cost of infrastructure development from wired to wireless charging methods is expected to restrain the market growth
- Requirement of long routes for the implementation of dynamic wireless charging is also expected to act as a restraint to the market growth
Segmentation: Global Wireless EV Charging Market
- By Installation Type
- Original Equipment Market
- By Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- By Charging Station Type
- Commercial Charging Stations
- Home Charging Stations
- By Component
- Base Charging Pad
- Power Control Unit
- Vehicle Charging Pad
- By Power Supply Range
- Less than 50KW
- By Charging Type
- Dynamic Wireless Charging System
- Stationery Wireless Charging System
- By Vehicle Type
- Passenger Cars
- Electric Commercial Vehicle
- Electric Two Wheeler
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
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Key Developments in the Market:
- In November 2017, WiTricity Corporation and Texas Instruments Incorporated have announced that they have collaborated and are aiming to use Texas’s automotive-grade semiconductor components in WiTricity’s wireless charging systems.
- In May 2017, Qualcomm Technologies Inc. introduced dynamic electric vehicle charging dynamic electric vehicle charging (DEVC), which is aimed at allowing the users of the vehicles to charge their vehicles while driving.
Competitive Analysis: Global Wireless EV Charging Market
Global wireless EV charging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wireless EV charging market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Research Methodology: Global Wireless EV Charging Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
Key questions addressed by the report
- Where will all these developments take the industry in the mid- to long-term?
- How is the increasing adoption of electric vehicles and changing environmental norms affecting the global market?
- How does dynamic charging work?
- Who are the key players in the market and how intense is the competition?
- How will the advent of autonomous vehicles impact the market?
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