Press release
Wireless Electric Vehicle (EV) Charging Market A Deep Dive into Market Size, Share, and Trends by 2030 | Bombardier Inc., Continental AG, Elix Wireless
Wireless EV charging Market
Market Dynamics:
Wireless charging in electric vehicles is gaining popularity as it offers convenience to users by eliminating the need to stop and plug in the vehicle for charging. Various automakers like BMW, GM and Nissan are investing heavily in developing wireless charging infrastructure to support wireless electric vehicles. Furthermore, governments across regions are providing sizable subsidies and incentives to encourage adoption of electric vehicles which is positively impacting the wireless electric vehicle market. Countries like China have ambitious electric vehicle adoption targets which will further drive future demand.
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Wireless Electric Vehicle Market Drivers: Increasing focus on reducing vehicular emissions to meet environmental regulations
With growing environmental concerns around the world, governments are implementing stringent regulations on vehicular emissions. Electric vehicles offer a feasible solution to reduce emissions as they do not directly emit pollutants from the tailpipe. However, the need to plug EV cars to charge them has been a hindrance. Wireless charging technology eliminates the hassle of plugging the vehicle for charging. It provides a convenient option for owners to charge their EVs without having to physically connect the charging cable. This is expected to increase adoption of EVs and help automakers comply with emission norms.
Demand for innovative technologies improving driving experience
Consumers today demand innovative features that enhance comfort and convenience. Wireless charging presents an effortless mobility solution, allowing drivers to charge their EVs without any physical action required. It offers a seamless charging experience comparable to refueling gasoline cars. Moreover, wireless charging infrastructure like charging pads installed at parking lots eliminate range anxiety among drivers. Automakers are actively developing advanced driver assistance technologies and connected mobility solutions through wireless connectivity. This drives the need for supporting technologies like wireless charging.
Competitive Analysis:
The research also encompasses a competitive analysis, employing a unique approach to assess and rank companies according to their performance within the market and their positions within their respective industries. This methodology categorizes participants into four distinct groups based on a variety of factors. Some of the factors taken into account for this evaluation include historical financial performance, growth strategies, and innovation achievements, introduction of new products, investments, and increases in market share, among others.
๐ง๐ผ๐ฝ ๐๐ผ๐บ๐ฝ๐ฎ๐ป๐ถ๐ฒ๐ ๐๐ป๐ฐ๐น๐๐ฑ๐ฒ:
Bombardier Inc., Continental AG, Elix Wireless, Evatran Group Inc., Hella KGaA Hueck & Co., Qualcomm, Inc., Robert Bosch GmbH, Toshiba Corporation, Toyota Motor Corporation, Witricity Corporation, ZTE Corporation, and Hevo Power.
Detailed Segmentation:
On the basis of charging station type, the global wireless EV charging market is segmented into
Commercial Charging Stations
Home Charging Stations
On the basis of component, the global wireless EV charging market is segmented into
Base Charging Pad
Power Control Unit
Vehicle Charging Pad
On the basis of charging type, the global wireless EV charging market is segmented into
Dynamic Wireless Charging System
Stationary Wireless Charging System
On the basis of power supply range, the global wireless EV charging market is segmented into
Above 50 kW
On the basis of vehicle type, the global wireless EV charging market is segmented into
Passenger Cars (PC)
Electric Commercial Vehicle (ECV)
Electric Two Wheeler
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Wireless Electric Vehicle Market Restrain: High costs involved in setup of charging infrastructure
Setting up widespread wireless charging infrastructure requires significant investments. It involves high installation and equipment costs for deployment of charging pads/coils at strategic locations. Additionally, wireless charging currently has lower energy transfer efficiency compared to wired charging. This translates to higher operational costs for both private and public entities. Given the premium costs, there are challenges in making wireless charging economically viable compared to conventional wired charging systems. Unless costs come down substantially, widespread adoption of the technology may remain limited to niche applications.
Wireless Electric Vehicle Market Opportunity: Growth in shared mobility and commercial fleets
Shared mobility services and commercial fleets have been expanding rapidly with rising urbanization. This increases the need for effortless charging solutions to maximize vehicle uptime. Wireless charging is well-suited for such applications as it allows automatic and contactless charging of EVs without human intervention. This brings operational efficiencies through reduced servicing downtime and higher asset utilization rates. Leading shared mobility operators and fleet owners are evaluating wireless charging as a value-added service to provide enhanced user experience. With market maturity, wireless charging systems customized for commercial applications are expected to witness high demand.
Wireless Electric Vehicle Market Trends: Evolution of ultra-fast charging technologies
Consumers increasingly demand quick charging capabilities akin to refueling times of gasoline vehicles. This has fueled R&D towards developing ultra-fast wireless charging technologies. Startups as well as automakers are collaborating to build dynamic and stationary wireless pads capable of juicing up EVs in under 20-30 minutes. Manufacturers are exploring energy transmission standards like WiTricity for faster charging with higher power levels above 11kW. Implementation of technologies like embedded coils, powered by renewable sources, enables uninterrupted energy transfer for swift top-ups. The trend reflects a shift towards user-centric wireless charging infrastructure facilitating convenient on-the-go EV ownership experience.
๐ฅ๐ฒ๐ด๐ถ๐ผ๐ป๐ฎ๐น ๐๐ป๐ฎ๐น๐๐๐ถ๐:
โฆ ๐ก๐ผ๐ฟ๐๐ต ๐๐บ๐ฒ๐ฟ๐ถ๐ฐ๐ฎ: United States, Canada, and Mexico
โฆ ๐ฆ๐ผ๐๐๐ต & ๐๐ฒ๐ป๐๐ฟ๐ฎ๐น ๐๐บ๐ฒ๐ฟ๐ถ๐ฐ๐ฎ: Argentina, Chile, Brazil and Others
โฆ ๐ ๐ถ๐ฑ๐ฑ๐น๐ฒ ๐๐ฎ๐๐ & ๐๐ณ๐ฟ๐ถ๐ฐ๐ฎ: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
โฆ ๐๐๐ฟ๐ผ๐ฝ๐ฒ: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
โฆ ๐๐๐ถ๐ฎ-๐ฃ๐ฎ๐ฐ๐ถ๐ณ๐ถ๐ฐ: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.
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๐๐๐ค'๐ฆ:
๐ What is the projected size of the Wireless Electric Vehicle (EV) Charging Market by 2030?
๐ Which major countries will experience the greatest impact from the Wireless Electric Vehicle (EV) Charging Market?
๐ Which regional market in the Wireless Electric Vehicle (EV) Charging Market is the largest?
๐ Which leading companies dominate the majority of the Wireless Electric Vehicle (EV) Charging Market?
๐ Which geographic market within the Wireless Electric Vehicle (EV) Charging Market industry is expected to exhibit the most significant growth potential?
๐ What are the primary drivers of the Wireless Electric Vehicle (EV) Charging Market?
๐ What are the current trends and future predictions for the global Wireless Electric Vehicle (EV) Charging Market industry?
๐ What are the key strategies employed in the Wireless Electric Vehicle (EV) Charging Market?
๐ What are the main growth prospects for the Wireless Electric Vehicle (EV) Charging Market?
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