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WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 24, 2024 /EINPresswire / -- According to a new report published by Allied market Research, titled,“Wireless Electric Vehicle Charging Market Size , Share, Competitive Landscape and Trend Analysis Report, by Vehicle Type, by Distribution Channel, by Charging Method, by Installation, by Power Source : Global Opportunity Analysis and industry Forecast, 2020-2030."
The global wireless electric vehicle charging market was valued at $6,857.80 thousand in 2020, and is projected to reach $207,415.10 thousand by 2030, growing at a CAGR of 41.4% from 2021 to 2030.
Key Findings Of The Study :
By power source, the 11 to 50 kW segment dominated the global Wireless electric vehicle charging market in 2020, in terms of revenue.
By charging method, the Inductive Power Transfer (IPT) segment is expected to register significant growth, registering a CAGR of 42.2% during the forecast period.
By vehicle type, Battery Electric Vehicle (BEV) segment is projected to lead the global market in terms of market share by the end of the forecast period.
By installation, the commercial segment dominated the global Wireless electric vehicle charging market in 2020, in terms of revenue.
By distribution channel, the aftermarket segment is expected to register significant growth, registering a CAGR of 40.9% during the forecast period.
By region, Europe dominated the global Wireless electric vehicle charging market in 2020 in terms of market share.
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Presently, the global wireless electric vehicle charging market is dominated by Europe followed by Asia-Pacific, North America, and LAMEA. In Asia-Pacific, the market is mainly driven by China owing to the optimistic market scenario for electric vehicles in the region. India is foreseen to witness considerable growth in wireless electric vehicle market during the forecast period owing to the growing electric vehicle penetration.
The wireless electric vehicle charging market is segmented on the basis of power source, charging method, installation, distribution channel, vehicle type and region. The wireless charging for electric vehicle market is segmented on the basis of power source, charging method installation, distribution channel, vehicle type, and region. The power source segment is divided into 3-<11 kW, 11–50 kW, and >50 kW. By charging method, the market is segmented into CWPT, MGWPT, RIPT, and IPT. By installation, the market is bifurcated into home and commercial. Depending on distribution channel, it is segregated into OEMs and aftermarket. The vehicle type segment is classified into battery electric vehicles (BEV), plug-in hybrid electric vehicle (HEV), and commercial electric vehicles. Region-wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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Furthermore, increase in sales of EVs in prominent European countries, such as Germany, the Netherlands, France, Denmark, Sweden, and in countries having above average growth is expected to supplement the market growth. Factors, such as increase in sales of electric vehicles (EVs), growing demand for wireless electric vehicle charging solutions, and demand for high power contact less inductive charging are expected to boost the wireless electric vehicle charging market during the forecast period. However, expensive integration and high upfront cost of wireless electric vehicle charging are expected to hinder the market growth during the forecast period.
COVID-19 Impact Analysis :
COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the automotive sector is among the hardest hit. Following the pattern witnessed in countries where COVID-19 spread earlier, lockdown measures and other restrictions have impacted the requirement for electric vehicle charging infrastructure considerably. Furthermore, coronavirus has introduced unexpected challenges within the automotive, electric mobility and charging infrastructure sectors. OEMs and other stakeholders are adopting innovative business models amid post-COVID-19.
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Leading Market Players :
IPT Technology Inc.
Continental AG
Evatran Group (Plugless)
Nidec Mobility Corporation
Renesas Electronics
Powermat technologies
Qualcomm Technologies
Robert Bosch Gmbh
Texas Instruments
Toyota Motor Corporation
Witricity
About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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