Wireless EV Charging Market Overview:
Wireless Electric Vehicle Charging (WEVC) technology is gaining traction in the market due to its efficiency, convenience, and simplicity. This technology utilizes near-field charging, involving a transmission coil that generates a magnetic field transferring energy to a nearby receiving coil via induction. The market, valued at USD 34.48 million in 2022, is projected to grow at a staggering CAGR of 46.8% during the forecast period, reaching USD 506.58 million by 2029.
Market Dynamics:
Advantages of electric vehicles, such as reduced fuel consumption and emissions, are driving global demand. OEMs are increasingly focused on battery electric vehicles (BEVs) due to stringent emissions regulations. Strategic initiatives, like partnerships and product development, are further propelling market growth. However, challenges such as slower charging speeds and higher costs hinder widespread adoption.
Wireless EV Charging Market Scope and Research Methodology
The purpose of this report is to evaluate and forecast the size of the Wireless EV Charging market. It provides strategic profiles of key market participants, providing a clear picture of the competitive landscape in the worldwide Wireless EV Charging market. This covers a thorough examination of current developments such as new product introductions, acquisitions, mergers, joint ventures, brand activities, and important players in the Wireless EV Charging sector. The research provides insights into industry trends, dynamics, and potentials, helping professionals stay up to date on the current trends and sector performance. This information helps project increase and fall in Wireless EV Charging market share during the predicted period.
A thorough grasp of the Wireless EV Charging industry was gained through a combination of primary and secondary research techniques. To achieve reliable results, a variety of approaches were used, including PESTLE, PORTER, and SWOT analysis. SWOT analysis was used to identify the strengths, weaknesses, opportunities, and problems for important companies in the Wireless EV Charging industry. Furthermore, the application of PORTER and PESTLE analysis enabled an understanding of the microeconomic and macroeconomic aspects driving the Wireless EV Charging industry.
Wireless EV Charging Market Segmentation:
by Application
• Public/Commercial Charging Station
• Home Charging Unit
by Component
• Base Charging Pad
• Power Control Unit
• Vehicle Charging Pad
by Charging Type
• Dynamic Wireless Charging System
• Stationary Wireless Charging System
by Distribution Channel
• Aftermarket
• OE Market
by Propulsion
• BEV
• PHEV
Based on propulsion, the BEV segment had the biggest market share in 2022. Wireless charging is now available in BEV vehicles from Tesla, BMW, and Nissan, including the Tesla Model S, BMW i3, and Nissan Leaf. Because of stringent government regulations aimed at curbing rising emissions, OEMs are focusing on BEVs. The total market is expected to be driven by increased BEV sales and government incentives.
Stationary Wireless Charging System had the biggest market share (xx%) in 2022. The stationary wireless charging solution is simple to use, secure, and reliable. Drivers can charge their cars using any wireless charging equipment, making this technology compatible. Vehicles can also be wirelessly charged in parking lots and public areas. The proliferation of stationary wireless charging devices has eased the creation of charging networks for electric vehicles. Many businesses have installed stationary wireless charging stations.
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Wireless EV Charging Market Key Players:
• Robert Bosch GmbH
• Continental AG
• Toyota Motor Corporation
• Electroad
• Toshiba Corporation
• Lg Chem Ltd
• Witricity Corporation
• Wave
• Qualcomm, Inc.
• Bombardier Inc.
• Aerovironment Inc.
• Hella KGaA Hueck & Co.
• Evatran Group Inc.
• Mojo Mobility Inc.
• ZTE Corporation
• Elix Wireless
• Momentum Dynamics Corporation.
• HEVO Power
• Olev Technologies
Regional Analysis:
The Asia Pacific region had the biggest market share of xx% in 2022. The increasing penetration of electronic vehicles in industrialised countries is projected to increase demand for wireless charging systems. Increasing R&D investment, combined with an increase in partnerships and joint ventures between large original equipment manufacturers and domestic enterprises, has provided prospects for wireless charging system makers in Asia-Pacific. Furthermore, the region is home to growing economies such as China and India, as well as developed countries like Japan, and it is the world's largest auto market. As a result, technical innovation has encouraged major original equipment manufacturers to incorporate advanced and handy technologies into their electric vehicles, such as wireless charging systems.
Key Questions Addressed in This Report:
How has the Wireless EV Charging market performed so far and how will it perform in the coming years?
What is the market segmentation of the global Wireless EV Charging market?
What is the regional breakup of the global Wireless EV Charging market?
What are the price trends of various feedstocks in the Wireless EV Charging industry?
What is the structure of the Wireless EV Charging industry and who are the key players?
What are the various unit operations involved in a Wireless EV Charging processing plant?
What is the total size of land required for setting up a Wireless EV Charging processing plant?
What is the layout of a Wireless EV Charging processing plant?
What are the machinery requirements for setting up a Wireless EV Charging processing plant?
What are the raw material requirements for setting up a Wireless EV Charging processing plant?
What are the packaging requirements for setting up a Wireless EV Charging processing plant?
What are the transportation requirements for setting up a Wireless EV Charging processing plant?
What are the utility requirements for setting up a Wireless EV Charging processing plant?
What are the human resource requirements for setting up a Wireless EV Charging processing plant?
What are the infrastructure costs for setting up a Wireless EV Charging processing plant?
What are the capital costs for setting up a Wireless EV Charging processing plant?
What are the operating costs for setting up a Wireless EV Charging processing plant?
What should be the pricing mechanism of the final product?
What will be the income and expenditures for a Wireless EV Charging processing plant?
What is the time required to break even?
What are the profit projections for setting up a Wireless EV Charging processing plant?
What are the key success and risk factors in the Wireless EV Charging industry?
What are the key regulatory procedures and requirements for setting up a Wireless EV Charging processing plant?
What are the key certifications required for setting up a Wireless EV Charging processing plant?
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Key Offerings:
- A detailed Analysis of the Market Overview
- Market Share, Size & Forecast by Revenue | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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