21-Jul-2021 | Facts and Factors
According to the Facts and Factors study, the size of Global Wireless Electric Vehicle Charging Systems Market is estimated to be USD 43.55 Million in 2020 and USD 549.95 Million by 2026, with a CAGR of 52.6% between 2021 and 2026.
Wireless charging systems for electric automobiles have advanced dramatically during the previous decade. Part of this is due to cities' desire to transition away from gasoline and diesel-powered vehicles in order to help provide cleaner cities, especially given the world's rising urbanization, and partly due to electric vehicles becoming more efficient and cost-competitive. If wireless charging devices are properly integrated into vehicles and strategically positioned around a city as well as at owners' homes, there should be no need for them to ever plug in their autos. Vehicles should be able to be charged at any time and from any location, and EV owners should not have to worry about the grid connection because it would be handled automatically.
For a few years now, the Wireless Electric Vehicle Charger has been available on the market. Greater production and acceptance of electric passenger cars increased the investment in smart city technologies, and financial incentives provided by governmental organizations, to name a few components of the charging industry.
In 2020, the wireless EV charging systems market's base pads category accounted for the most revenue. Increased deployments of wireless EV charge systems across industries to wirelessly charge buses, taxis, and industrial vehicles; standardization of wireless charging pads to allow interoperability; and the presence of a large number of use cases and pilot projects supporting the adoption of static wireless EV charging systems are all contributing factors to this growth.
In 2020, the market for wireless EV charging systems with a power output of less than 11kW accounted for the majority of the total market. The standardization of wireless EV charging systems with up to 11kW power supply, which has resulted in major investments by automobile OEMs in this field, as well as the growing use of electric vehicles in Europe and North America, could explain this market's size.
In 2020, the market for wireless EV charging systems will be dominated by the battery-electric car industry. The growing use of battery electric vehicles for autonomous delivery and driving applications, as well as government regulations phasing out fossil fuel-powered vehicles, all contribute to this segment's large share.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 43.55 Million |
Projected Market Size in 2026 |
USD 549.95 Million |
CAGR Growth Rate |
52.6% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
Momentum Wireless Power, WiTricity Corporation, Plugless Power Inc, ELIX Wireless, Groupe Delachaux, Mojo Mobility, Inc, TGood Global Ltd, HEVO Inc, Continental AG, and Toshiba Corporation. |
Key Segment |
By Type, By Component, By Technology, By Power Supply, By Propulsion Type, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Top Market Players
Some of the key players operating in the global wireless EV charging systems market are WiTricity Corporation, Momentum Wireless Power, Plugless Power Inc, ELIX Wireless, Groupe Delachaux, Mojo Mobility, Inc, TGood Global Ltd, HEVO Inc, Continental AG, and Toshiba Corporation.
Covid-19 Impact
Due to shaky supply chains in Europe and Asia-Pacific (India, Republic of China, and South Korea), the world's leading wireless electric vehicle charging technology and systems manufacturers have halted production in Europe and Asia-Pacific (India, Republic of China, and South Korea).
Growing economies like China and India have announced a slew of costly stimulus measures to help the EV business overcome an economic crisis brought on by Covid-19 by investing substantially in high-tech and emerging charging infrastructure.
The increased demand for electric vehicle (EV) fast-charging infrastructure around the world
The increasing need for fast-charging infrastructure for electric cars (EV) around the world, the increasing installation of Wi-Fi in European nations, as well as the rising impact of concerns related to electric vehicles, all contributes to growth.
Moreover, increased demand for electric vehicles, rising oil prices, global warming, and expanding infrastructure for fast or dash chargers are all propelling the wireless electric vehicle charging market forward, boosting the target market's growth.
The Wireless Electric Vehicle Charger makes charging electric vehicles simple for both businesses and individuals. Wireless electric car charging equipment includes a number of encryption features that assist the automotive sector and serve to increase public demand for such wireless devices around the world.
The market for wireless electric vehicle chargers is a global one. It's a platform that works together. There are many small and medium businesses (SMEs) involved in this. The market for wireless electric vehicle charging is fiercely competitive. Furthermore, the native government's facilitation of the growth and adoption of wireless services gives a scalable possibility for the public-owned vehicle industry to increase its reach. Over the forecasted time, the reliance on modern technology for commercial and personal uses may outpace market need or anticipation.
Europe holds a significant market share in the Wireless Electric Vehicle Charging Systems market
The European region is predicted to have the largest market share over the forecast period. Due to the presence of well-developed infrastructure, wireless charging infrastructure can be constructed at this location. In 2020, APAC holds the largest share of the global wireless EV charging systems market. The region's large share is mostly attributable to the region's increased adoption of electric vehicles, significant demand for rapid charging infrastructure, and emerging economies' increasing infrastructure development.
Browse the full report “Wireless Electric Vehicle Charging Systems Market By Service Type (Engine MRO, Avionics MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, and Others), By Aircraft Type (Fixed Wing Aircraft and Rotary Wing Aircraft), By Organization Type (Airline/Operator MRO, Independent MRO, and Original Equipment Manufacturer (OEM) MRO), and By Application (Commercial, Cargo, and Defence Services): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/wireless-electric-vehicle-charging-systems-market
This report segments the Wireless Electric Vehicle Charging Systems market as follows:
Wireless EV Charging Systems Market: Type Segmentation Analysis
- Static Wireless EV Charging Systems
- Dynamic Wireless EV Charging Systems
Wireless EV Charging Systems Market: Component Segmentation Analysis
- Base Pads
- Power Control Units
- Vehicle Pads
- Battery Management Systems
Wireless EV Charging Systems Market: Technology Segmentation Analysis
- Capacitive Wireless EV Charging Systems
- Inductive Wireless EV Charging Systems
- Permanent Magnet Gear Wireless EV Charging Systems
- Resonant Inductive Wireless EV Charging Systems
Wireless EV Charging Systems Market: Power Supply Segmentation Analysis
- Less than 11 kW
- More than 50 kW
- 11 kW to 50 kW
Wireless EV Charging Systems Market: Propulsion Type Segmentation Analysis
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
Wireless Electric Vehicle Charging Systems Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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