Wireless Charging for Electric Vehicle Market Size Report, 2021-2027
The global Wireless Charging for Electric Vehicle market gathered revenue around USD 18.4 Million in 2020 and market is set to grow USD 260 Million by the end of 2027 and is estimated to expand at a modest CAGR of 46.17% during the prediction period 2021 to 2027.
Growth Factors:
Implementation of stringent emission norms, increasing focus on R&D activities, and rapid technological changes are projected to drive the wireless charging for electric vehicle market.
Wireless vehicle charging is one of the advanced technologies that is being significantly developed and it also likely to boost the electric car industry. It’s estimated that by 2040 more than 50% of new car sales will be electric vehicles. Despite the fact thatwireless charging would be a must-have for electric vehicles, there are a few potential drawbacks that need to be considered. Such as loss of energy while charging, lack of availability of proper charging infrastructure, high cost, etc.
The increase in the sale of electric vehicles across the globe is anticipated to drive the demand for wireless charging stations. Governments across the world in countries like the United Kingdom, Norway, Japan, the United States, and in developing countries like China, are providing purchasers with incentives.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Wireless Charging for Electric Vehicle market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Wireless Charging for Electric Vehicle market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 260 Million by 2027 |
| Growth Rate | CAGR of 46.17% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | application, distribution channel, component, charging system, charging type, propulsion type, vehicle type, Power supply range and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Robert Bosch GmbH, Continental AG, WiTricity Corporation, ZTE Corporation, and HELLA KGaA Hueck & Co. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Wireless Charging for Electric Vehicle market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Segment analysis:
By propulsion type:
The BEV segment is expected to hold the largest share in the wireless charging for electric vehicle market, by propulsion type, during the forecast period. Leading automotive companies such as Tesla, BMW, and Nissan now offer wireless charging in BEV models such as Tesla Model S, BMW i3, and Nissan Leaf. OEMs are focusing on BEVs due to stringent government regulations to curb rising emission. Increasing BEV sales and government support are expected to drive the overall market.
By charging type:
The stationary wireless charging system is convenient, safe, and reliable. This technology is interoperable as drivers can charge their vehicles with any wireless charging system. Also, vehicles can be charged in the parking spot and public places wirelessly. The growth of stationary wireless charging system has contributed to the expansion of charging networks for electric vehicles. Many companies have introduced stationary wireless charging systems. For instance, Evatran (Plugless) has introduced a stationary wireless charging system for Nissan Leaf and Chevrolet Volt.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Wireless Charging for Electric Vehicle Market include: Robert Bosch GmbH, Continental AG, WiTricity Corporation, ZTE Corporation, and HELLA KGaA Hueck & Co.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
Wireless charging for electric vehicle market, by application
Wireless charging for electric vehicle market, by component
Wireless charging for electric vehicle market, by charging type
Wireless charging for electric vehicle market, by distribution channel
Wireless charging for electric vehicle market, by propulsion
Wireless charging for electric vehicle market, by vehicle type
Wireless charging for electric vehicle market, by power supply range
Wireless charging for electric vehicle market, by charging system
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Wireless Charging for Electric Vehicle market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Wireless Charging for Electric Vehicle market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Wireless Charging for Electric Vehicle markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Wireless Charging for Electric Vehicle Market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers