Wireless EV Charging Market Growth or Demand Increase or Decrease for what contains ?
The demand for Wireless EV Charging is increasing significantly. The market was valued at USD 34.48 million in 2022 and is projected to reach USD 506.58 million by 2029, at a robust CAGR of 46.8% during the forecast period.
Electric vehicles have various advantages, including lower fuel usage (gasoline, diesel, and natural gas) and lower exhaust pollutants, which drive up global demand. The demand for wireless charging is likely to increase during the forecast period as electric or plug-in hybrid vehicles are introduced. The wireless electric car charging industry is pursuing a variety of strategic activities, including product development and collaboration, to expand its product portfolio and global footprint. Nichicon and Qualcomm, for example, signed a strategic collaboration agreement.
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Wireless EV Charging Market CAGR Estimation:
The Compound Annual Growth Rate (CAGR) for the Wireless EV Charging Market is estimated to be 46.8% from 2023 to 2029.
Wireless EV Charging Market Segmentation:
The Wireless EV Charging Market is segmented as follows:
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
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.
By Distribution Channel:
Aftermarket
OE Market
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.
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Wireless EV Charging Market Overview:
The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Wireless EV Charging Market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.
Wireless EV Charging Market Growth or Demand in which regions??
Asia Pacific:
The Asia Pacific region held the largest market share in 2022. This is driven by increasing R&D investments, rising partnerships and joint ventures between major OEMs and domestic companies, and high demand in emerging economies like China and India. Developed countries such as Japan also contribute significantly to the demand.
North America:
North America, with its advanced technological infrastructure and significant EV adoption rates, is another key region for market growth.
Europe:
Europe is also a significant market due to stringent environmental regulations and high EV adoption, particularly in countries like Germany, the UK, and France.
Middle East and Africa:
This region is witnessing gradual growth due to increasing interest in sustainable transportation solutions.
Wireless EV Charging Market Scope & Methodology:
The competitive landscape of the Wireless EV Charging market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Wireless EV Charging Market. The report employed a bottom-up approach to ascertain Wireless EV Charging Market estimations and growth rates.
To gain insights into Wireless EV Charging Market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Wireless EV Charging Market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.
Both primary and secondary data gathering techniques were employed for the Wireless EV Charging Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Wireless EV Charging Market.
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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
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Key questions answered in the Wireless EV Charging Market are:
- What is Wireless EV Charging Market?
- What is the growth rate of the Wireless EV Charging Market?
- Which are the factors expected to drive the Wireless EV Charging Market growth?
- What are the different segments of the Wireless EV Charging Market?
- What are the factors restraining the growth of the Wireless EV Charging Market?
- What is the demand pattern of the Wireless EV Charging Market?
- What major challenges could the Wireless EV Charging Market face in the future?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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