Wireless Electric Vehicle Charging Market To Reach $12.4 Billion, Globally, By 2033 At 38.6% CAGR: Allied Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Wireless Electric Vehicle Charging market to Reach $12.4 Billion, Globally, by 2033 at 38.6% CAGR: Allied Market Research The wireless EV charging market is driven by factors such as increase in the adoption of electric vehicles, growth in the need for convenient and efficient charging solutions, and continuous advancements in wireless charging technologies.

Wilmington, New Castle, Delaware , Feb. 06, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Wireless Electric Vehicle Charging Market by Vehicle Type (Passenger Cars and Commercial Vehicles), Distribution Channel (OEMS, and Aftermarket), Installation (Home and Commercial), and Power Source (Below 11 KW, 11–50 KW, and Above 50 KW): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the wireless electric vehicle charging market was valued at $0.466 billion in 2023, and is estimated to reach $12.4 billion by 2033, growing at a CAGR of 38.6% from 2024 to 2033.

Prime determinants of growth

The global wireless EV charging market is driven by factors such as increase in the adoption of electric vehicles, advancements in charging technologies, rise in investments in smart infrastructure, and surge in emphasis on reducing carbon emissions through sustainable mobility solutions. However, high capital costs and stringent regulations and guidelines may hamper the market growth.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2033
Base Year	2023
Market Size in 2023	$0.466 billion
Market Size in 2033	$12.4 billion
CAGR	38.60%
No. of Pages in Report	224
Segments covered	Installation, Vehicle Type, Power Source, Distribution Channel, and Region
Drivers	Increase in adoption of electric vehicles
	Rise in investments in smart infrastructure
Opportunity	Surge in emphasis on reducing carbon emissions through sustainable mobility solutions
Restraints	High capital cost
	Stringent regulations and guidelines

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The passenger cars segment to maintain its leadership status throughout the forecast period.

By vehicle type, the passenger cars segment held the highest market share in 2023, accounting for nearly three-fifths of the global wireless EV charging market revenue and is estimated to maintain its leadership status throughout the forecast period.

This dominance is driven by rise in the adoption of electric passenger cars worldwide, supported by government subsidies, tax incentives, and growth in environmental awareness among consumers. The increasing integration of wireless charging systems in premium and luxury car models further accelerates growth in this segment. Moreover, advancements in wireless charging technology, such as improved efficiency and reduced charging time, coupled with the demand for hassle-free and user-friendly charging solutions, are key factors propelling the passenger car segment's leadership in the market.

The aftermarket segment to maintain its leadership status throughout the forecast period

By distribution channel, the aftermarket segment held the highest market share in 2023, accounting for nearly three-fifths of the global wireless EV charging market and is estimated to maintain its leadership status throughout the forecast period.

This segment's dominance is attributed to the increasing demand for retrofitting wireless charging systems in existing electric vehicles and the growing availability of aftermarket solutions tailored to diverse consumer needs. In addition, rise in focus on cost-effective alternatives and expansion of independent service providers offering advanced wireless charging kits have further boosted the segment's growth.

The home segment to maintain its leadership status throughout the forecast period

By installation, the home segment segment held the highest market share in 2023, accounting for three-fifths of the global wireless EV charging market and is estimated to maintain its leadership status throughout the forecast period. This dominance is driven by the growing preference for convenient and private charging solutions, allowing EV owners to charge their vehicles effortlessly at home. The increasing adoption of residential wireless charging systems, supported by advancements in compact and user-friendly designs, has further contributed to this growth. In addition, government incentives and rebates for home EV charging installations, coupled with rise in the number of single-family households adopting electric vehicles, are key factors reinforcing the home segment's market leadership.

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Leading Market Players: -

• Wipowerone
• Witricity
• Evatran
• Dashdynamic
• HEVO,
• Induct EV Inc.
• Continental AG
• Toyota Motor Corporation
• Robert Bosch GmbH
• Electreon

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The report provides a detailed analysis of these key players in the global wireless EV charging market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in the country. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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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 Insights" 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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. 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.

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