The global the wireless charging market for electric vehicles size is projected to grow from USD 80 Million in 2023 to USD 1279 Million by 2030, at a CAGR of 48.4%. The development towards fast-charging infrastructure, combined with the several advantages pertaining to wireless charging over wired charging, are expected to drive the wireless charging market for electric vehicles. Additionally, growing investment in dynamic wireless charging paired with reduced EV prices will drive wireless charging revenue growth for electric vehicles during the projected period.
Based on Power Supply Range: The above 7.7–11 kW segment of the wireless charging market for electric vehicles, by power supply range, is expected to register significant growth during the forecast period. The increasing sales of passenger EVs, which have higher power requirements to charge respective batteries, are expected to fuel the growth of the above 7.7-11 kW power supply segment in the wireless charging market for electric vehicles. The increasing focus towards advanced technology by automotive OEMs in conjunction with rising investment by wireless charging providers toward new product developments, is also expected to augment revenues for the above 11 kW power supply segment in the wireless charging market for electric vehicles in the foreseeable future.
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Based on Charging Type: The stationary wireless charging systems segment is expected to hold a larger market share during the forecast period. The low cost of setting up stationary wireless charging systems compared to dynamic wireless charging systems, along with the ease of use, is likely to boost the expansion of this category in the wireless charging market for electric vehicles during the forecast period. The stationary wireless charging systems are convenient, safe, and reliable. This technology is interoperable, as drivers can charge their vehicles with any wireless charging system. Also, vehicles can be charged in parking spots and public places wirelessly. Many companies have introduced stationary wireless charging systems in some vehicle models, such as INTIS Integrated Infrastructure Solutions Gmbh, which offers a stationary wireless charging system (aftermarket) for Nissan Leaf Gen. 1, Nissan Leaf Gen. 2, and BMW i3.
By Component : The vehicle charging pads segment is expected to register significant growth during the forecast period. The increasing focus of automotive OEMs towards incorporating wireless charging systems (OE-fitted) is the key factor driving the growth of this vehicle charging pad segment in the wireless charging market for electric vehicles. The government initiatives to focus on dynamic wireless charging will increase the penetration of base and vehicle charging pads in the market. For instance, the State Grid Corporation of China, the country’s largest electric utility, announced in 2022 that it is developing dynamic wireless charging technology for electric vehicles. The company plans to install dynamic wireless charging systems on highways and other roads.
By Region: Europe is anticipated to be the fastest-growing market for wireless charging during the forecast period. The increasing sales of electric vehicles in this region, coupled with the development of charging infrastructure facilities, are expected to facilitate the rapid development of the wireless charging market for electric vehicles. The European PHEV and BEV markets registered growth in car stock from 5.5 billion in 2021 to 7.8 billion in 2022. Thus, increasing penetration of electric vehicles in the European region would encourage wireless EV charging providers to develop high-power wireless EV technology for OEMs. This will also encourage wireless EV charging providers to collaborate with automotive OEMs to offer Wireless Charging technology.
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