Wireless Charging for Electric Vehicle Market by Power Supply (3–<11, 11–50, & >50 KW), Application (Home & Commercial), Distribution channel (Aftermarket & OE), Component, Charging System, Propulsion, Vehicle type- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 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.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

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

  • Public/Commercial Charging Station
  • Home Charging Unit

Wireless charging for electric vehicle market, by component

  • Base Charging Pad
  • Power Control Unit
  • Vehicle Charging Pad

Wireless charging for electric vehicle market, by charging type

  • Dynamic Wireless Charging System
  • Stationary Wireless Charging System

Wireless charging for electric vehicle market, by distribution channel

  • Aftermarket
  • OE Market

Wireless charging for electric vehicle market, by propulsion

  • BEV
  • PHEV

Wireless charging for electric vehicle market, by vehicle type

  • Commercial Vehicle
  • Passenger Car

Wireless charging for electric vehicle market, by power supply range

  • 3–<11 kW
  • 11–50 kW
  • >50 kW

Wireless charging for electric vehicle market, by charging system

  • Magnetic Power Transfer
  • Capacitive Power Transfer
  • Inductive Power Transfer

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

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:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Wireless Charging for Electric Vehicle Market Study:

  • Growth of Wireless Charging for Electric Vehicle in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Wireless Charging for Electric Vehicle and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Wireless Charging for Electric Vehicle Consumption Analysis
  •  Wireless Charging for Electric Vehicle Production Analysis
  •  Wireless Charging for Electric Vehicle and Management