Wireless EV Charging Industry Overview
Market Research Future (MRFR), in their latest report, have suggested that the global wireless electric vehicle charger market is expected to be set on an impressive growth trajectory over the forecast period, as per its recently published report. A rise in the demand for electric vehicles is expected to be a primary factor supplementing the progress of the global Wireless EV Charging Industry in the forthcoming years. There are common concerns raised by large scale of consumers related to the depletion of natural and non-renewable resources. Such concerns are expected to provide impetus to the adoption of electric vehicles.
Another factor driving up the adoption of electric vehicles includes the stringent regulations instigated by governments regarding carbon emissions which has accelerated the adoption of electric vehicles, hence propelling growth in the Wireless EV Charging Industry across the globe. In addition, technologically advanced and innovative product offerings by manufacturers has promoted the adoption of electric vehicles on a larger scale, hence fueling the wireless electric vehicle charger market growth. Also, governments have started catalyzing their efforts into accelerating the adoption of sustainable energy-based vehicles, as compared to vehicles that run on conventional fossil fuels, to supplement the environment-friendly initiatives undertaken by most countries across the globe.
Provisions are observed to be made for financial incentives to foster the sale of electric vehicles, which is also expected to promote the market growth for wireless electric vehicle chargers in the forthcoming years. However, lack of standardization of products has remained an impediment on the ascension of the global wireless electric vehicle charger market.
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Key Players:
Some of the major players in Global Wireless EV Charging Industry include ABB (Switzerland), Leviton (U.S.), WiTricity Corporation (U.S), Convenient Power HK Limited (Hong Kong), Siemens (Germany), Delphi Automotive (U.K.), Qualcomm (U.S.), and Bosch Group (Germany) among others.
Market Segmentation:
The Wireless EV Charging Industry report is segmented into eight key market dynamics to widen the scope of understanding,
- By Charging Type: Dynamic and Stationary Wireless Electric Charging
- By Charging Pad: Base Charging Pad, Power Control Unit, and Vehicle Charging Pad, among others.
- By Power Supply Range: 3 to <7.7 KW, 7.7 to < 11KW, 11to < 20KW, 20 to < 50 KW, 50 KW, and above
- By Charging System: Home and Commercial Charging System.
- By Propulsion Type: Battery and Plug-in Electric Vehicle.
- By Vehicle Type: Passenger EV and Commercial EV.
- By Application: OEM and Aftermarket.
- By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Regional Insights:
The Asia Pacific region dominates the global wireless electric vehicle charging market with the largest share. Owing to the growing production of electric automobiles from China and Japan, the region is estimated to continue its dominance throughout the review period. Boosting production and sales of EVs in this region is expected to foster the market demand.
Due to the improving economy and growing sales of EVs, mainly in India, China, and Japan, the growth of the market would rise extensively. Moreover, rising focus to reduce vehicle emissions and growing investments in the development of efficient wireless EV charging systems are driving the regional market growth. Also, the presence of several key market players in the region is supporting is augmenting the demand in the market.
The wireless electric vehicle charging market in North America takes the second lead globally. Increasing sales of EVs fuelled by government support and increasing fuel prices are a key factor boosting the size of the regional market. In the US, sales of electric vehicles have been doubling each year, clearly indicating the demand for wireless electric vehicle charging that is on the constant rise.
The US is estimated to create a larger revenue pocket in the regional market in the next six years. Huge investments transpired in the development of these chargers led by government initiatives, and high disposable income in the region is driving the market in the North American region.
The Europe wireless electric vehicle charging market, on the other hand, is growing rapidly. Rising sales and government support for electric vehicles, restrictions of vehicle emissions, and the implementation of regulations against ICE vehicles in the UK and Germany are expected to contribute to the growth of this market.
Factors, such as the rising sales of EVs due to the resurging economy and government initiatives and the vast contributions from the UK, Germany, France, and Norway commutatively presage the ample scope of market growth opportunities in the region.
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Industry/ Innovation/ Related News:
July 27, 2019 ---- WiTricity (the US), an MIT spinout, develops solutions for wireless power transfer, over distance, and wireless charging systems for electric vehicles, announced that it is working on standardizing wireless charging of the electric vehicle. WiTricity owns 1500 separate patents regarding wireless charging which came along with the acquisition of Qualcomm Halo in 2017 and the much-coveted patent for magnetic resonance technology.
WiTricity is a benchmark in wirelessly charging electric vehicles and is set to control the market and introduce standardization into the product. The company continues to embrace a perpetual relationship with portable electrical & electronic devices, and a growing expectation for such devices to function at all times without any interruption.
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The market is witnessing significant growth in recent years.
Increasing demand for dynamic electric vehicle charging (DEVC) technology, surging number of long-distance driven by electric vehicles, and growing concern over safety in electric vehicles are some the key driving factors for the growth of this market.According to Market Research Future (MRFR), the size of Wireless EV Charging Industry would increase exponentially by the end of 2027.
Rising prices and scarcity of fossil fuel are presaging that electric vehicles would be best suitable alternative for fossil fuels for the future.
Conversely, the high cost of these chargers and energy loss during transmission are some of the factors impeding the growth of this market.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/1087Key Players:Some of the major players in Global Wireless EV Charging Industry include ABB (Switzerland), Leviton (U.S.), WiTricity Corporation (U.S), Convenient Power HK Limited (Hong Kong), Siemens (Germany), Delphi Automotive (U.K.), Qualcomm (U.S.), and Bosch Group (Germany) among others.Market Segmentation:The Wireless EV Charging Industry report is segmented into eight key market dynamics to widen the scope of understanding,By Charging Type: Dynamic and Stationary Wireless Electric ChargingBy Charging Pad: Base Charging Pad, Power Control Unit, and Vehicle Charging Pad, among others.By Power Supply Range: 3 to <7.7 KW, 7.7 to < 11KW, 11to < 20KW, 20 to < 50 KW, 50 KW, and aboveBy Charging System: Home and Commercial Charging System.By Propulsion Type: Battery and Plug-in Electric Vehicle.By Vehicle Type: Passenger EV and Commercial EV.By Application: OEM and Aftermarket.By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.Regional Insights:The Asia Pacific region dominates the global wireless electric vehicle charging market with the largest share.
Owing to the growing production of electric automobiles from China and Japan, the region is estimated to continue its dominance throughout the review period.
Moreover, rising focus to reduce vehicle emissions and growing investments in the development of efficient wireless EV charging systems are driving the regional market growth.
The Wireless EV Charging Market 2021 research report gives emerging industry data, global segments and regional outlook.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the wireless EV charging market includes Cree Inc., Hitachi Metals Ltd, Kyocera Corporation, Mitsubishi Chemical Corporation, MonoCrystal, Sumco Corp and Sumitomo Electric Industries Ltd. among others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Wireless EV Charging Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/wireless-ev-charging-market/download-sampleMarket DynamicsThe market is gaining sustainable growth on account of rising demand of electric vehicles.
Rising fuel prices, increasing demand for battery driven vehicles, stringent regulations by various governments to curb carbon emissions is fueling the market growth.
