Wireless Electric Vehicle Charging Systems Market
PUBLISHED: 2023 ID: SMRC23378
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Wireless Electric Vehicle Charging Systems Market

Wireless Electric Vehicle Charging Systems Market Forecasts to 2030 - Global Analysis By Type (Dynamic and Static), Component (Vehicle Pads, Power Control Units (PCU), Base Pads, Battery Management Systems (BMS) and Other Components), Power Supply, Vehicle Type, Charging Method, Installation, Distribution Channel and By Geography

4.9 (40 reviews)
4.9 (40 reviews)
Published: 2023 ID: SMRC23378

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $49.78 MN

Projected Year Value (2030)

US $654.89 MN

CAGR (2023 - 2030)

44.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe


According to Stratistics MRC, the Global Wireless Electric Vehicle Charging Systems Market is accounted for $49.78 million in 2023 and is expected to reach $654.89 million by 2030 growing at a CAGR of 44.5% during the forecast period. Wireless Electric Vehicle Charging Systems are based on the transmission of energy from a power source to a consuming device without wires or cables. Electric vehicle power and charging is made possible by a dependable, practical, and secure technology. By doing away with physical connectors and cords, it offers benefits over conventional charging methods that are effective, affordable, and safe. Wireless EV charging systems are a promising technology with a high commercialisation potential. The approach has been tested by major automobile manufacturers all around the world.

According to the International Council on Clean Transportation (ICCT) 2021 report, the electrical automobile industry within the U.S. has increased from 1000’s automobiles sold in 2010 to more than 315,000 automobiles sold from 2018 to 2020.



Market Dynamics:

Driver:

Raising energy-efficient sources as an alternative to fuel

Crude oil, which is extracted and processed to create diesel and gasoline, serves as the main ignition source in automobiles. Over the past three decades, the price of oil has dramatically risen, making travel more expensive for low- and middle-class customers. People are now choosing energy-efficient options as a result of rising oil prices, which lowers the overall cost per mile. This is expected to raise demand for electric vehicles relative to fuel-powered vehicles. As a result, the market growth for vehicle charging systems is expected to pick up speed.

Restraint:

Loss of efficiency

When compared to conventional power transfer, power loss in wireless charging technology is around 7–12% more. A wireless charger can only transmit over a fixed distance using electromagnetic induction and/or magnetic resonance. Manufacturers have a significant hurdle as a result of this range restriction, particularly in the case of LCVs and SUVs with high ground clearance. The ratio of power efficiency to transmitter-to-receiver separation is inversely proportional. Therefore, concerns about efficiency and safety have turned into a barrier for producers in this industry.

Opportunity:

Growing government incentives

In many nations, the advancement of wireless charging is currently supported by government subsidies and assistance for electric vehicles. The general population can work for longer periods of time since they don't have to wait for their vehicle to charge. This increase in productive hours also contributes to a country's GDP growth. Full autonomy, no need for a charging station, and smaller battery packs with less need for space in metropolitan areas are all benefits of wireless charging systems. These elements are boosting market demand.

Threat:

Expensive integration of technology

For power transfer using a power control unit (PCU), the wireless charging technique for electric vehicles needs transmitter and receiver coils. The total cost of an installed aftermarket wireless charging system for a home is between USD 2,500 and 3,000. The cost of the electric vehicle increases when wireless charging technology is included in the vehicle. Consequently, this raises the cost of wireless electric vehicle charging. Therefore, it can be concluded that the high cost of switching to wireless charging technology is a significant market restriction attached to the economic climate and the scope-induced economies of scale.

Covid-19 Impact

The COVID-19 crisis slow downed the global auto part and vehicle manufacturing industries owing to lockdown in various countries that restricted EV production. It has significantly affected the need for EV charging infrastructure. Due to widespread lockdowns and governmental limitations, major investments in the construction of electric vehicle charging infrastructure have been put on hold. This has affected the majority of EV supply equipment manufacturers worldwide.

The plug-in hybrid electric vehicles segment is expected to be the largest during the forecast period

The plug-in hybrid electric vehicles segment is estimated to have a lucrative growth. Plug-in hybrid electric vehicles (PHEVs) use batteries to power an electric motor. PHEVs have the ability to recharge their batteries using charging devices and regenerative braking. Operating expenses and fuel consumption are decreased when some or all of the time the vehicle is powered by the grid. The advantages it offers, such as cheaper fuel prices, fewer greenhouse gas emissions, and fuel economy estimation, are propelling the segment's growth.

The inductive power transfer segment is expected to have the highest CAGR during the forecast period

The inductive power transfer segment is anticipated to witness the fastest CAGR growth during the forecast period. Inductive Power Transfer is a technology that allows for the transmission of power and digital data without the need for mechanical or electrical contact. This opens up a wide range of design options for manufacturers of mobile electrification systems that require quick speeds and complete wear resistance. It operates even at relatively long distances (a few meters), has higher efficiency (up to 95%), and decreases energy losses. The aforementioned factors are promoting the segment's expansion.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the adoption of high-end technology products by electric vehicle manufacturers. The number of electric vehicles is rapidly increasing in the Asia-Pacific region, particularly in China and Japan. Additionally, the region's growing environmental consciousness has boosted sales of electric vehicles (EVs) that use environmentally friendly and fuel-efficient wireless charging technology. The market for EV chargers in this region is also anticipated to rise as a result of several government initiatives to build up the infrastructure for charging electric vehicles.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the increasing sales of battery electric vehicles. Major OEMs in this region are working to incorporate wireless charging in their vehicles, including BMW, Audi, and Mercedes. Additionally, it is anticipated that the European government's measures to evaluate the viability of wireless charging for electric vehicles and the increase in EV sales will propel the market's expansion.



Key players in the market

Some of the key players profiled in the Wireless Electric Vehicle Charging Systems Market include Toshiba Corporation, Tesla, Robert Bosch GmbH, Toyota Motor Corporation, ZTE Corporation, Momentum Dynamis Corporation, Nission, TGOOD Global Ltd, HELLA GmbH & Co, Qualcomm Inc, Coninental AG, DAIHEN Corporation, BMW, Lumen Pty Ltd, WiTricity Corporation, HEVO Inc, ElectReon Wireless Ltd, Mojo Mobility Inc, Plugless Power LLC and Wave LLC.

Key Developments:

In June 2023, Toyota announced plans to make an all-solid-state battery as part of its ambitious plans for battery electric vehicles. The next-generation battery EV will also enable customization of the 'driving feel,' with a focus on acceleration, turning, and stopping.

In June 2023, Tesla announced partnership with GM and Ford to expand EV charging access set. The partnerships represent a major endorsement for Tesla and its charging technology, taking a step closer toward standardizing a charging type for North American vehicles.

In January 2022, Toshiba Corporation expanded its SCiB™ product offering with the launch of an innovative 20Ah-HP rechargeable lithium-ion battery cell that delivers high energy and high power at the same time.

In June 2020, Bosch has launched a new mobile app that gives electric vehicle (EV) drivers access to more than 150,000 charging points across Europe. The Charge My EV app is available to private and business customers and allows users to find and pay for charging with a clear breakdown of costs.

Types Covered:
• Dynamic
• Static

Components Covered:
• Vehicle Pads
• Power Control Units (PCU)
• Base Pads
• Battery Management Systems (BMS)
• Other Components

Power Supplies Covered:
• 3 to <7.7 KW
• 7.7 to < 11KW
• 11to < 20KW
• 20 to < 50 KW
• 50 KW & Above

Vehicle Types Covered:
• Battery Electric Vehicles
• Plug-In Hybrid Electric Vehicles
• Commercial Electric Vehicles

Charging Methods Covered:
• Magnetic Gear Wireless Power Transfer (MGWPT)
• Capacitive Wireless Power Transfer (CWPT)
• Resonant Inductive Power Transfer (RIPT)
• Inductive Power Transfer (IPT)
• Other Charging Methods

Installations Covered:
• Commercial
• Home

Distribution Channels Covered:
• OEMs
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Wireless Electric Vehicle Charging Systems Market, By Type
5.1 Introduction
5.2 Dynamic
5.3 Static

6 Global Wireless Electric Vehicle Charging Systems Market, By Component
6.1 Introduction
6.2 Vehicle Pads
6.3 Power Control Units (PCU)
6.4 Base Pads
6.5 Battery Management Systems (BMS)
6.6 Other Components

7 Global Wireless Electric Vehicle Charging Systems Market, By Power Supply
7.1 Introduction
7.2 3 to <7.7 KW
7.3 7.7 to < 11KW
7.4 11 to < 20KW
7.5 20 to < 50 KW
7.6 50 KW & Above

8 Global Wireless Electric Vehicle Charging Systems Market, By Vehicle Type
8.1 Introduction
8.2 Battery Electric Vehicles
8.3 Plug-In Hybrid Electric Vehicles
8.4 Commercial Electric Vehicles

9 Global Wireless Electric Vehicle Charging Systems Market, By Charging Method
9.1 Introduction
9.2 Magnetic Gear Wireless Power Transfer (MGWPT)
9.3 Capacitive Wireless Power Transfer (CWPT)
9.4 Resonant Inductive Power Transfer (RIPT)
9.5 Inductive Power Transfer (IPT)
9.6 Other Charging Methods

10 Global Wireless Electric Vehicle Charging Systems Market, By Installation
10.1 Introduction
10.2 Commercial
10.3 Home

11 Global Wireless Electric Vehicle Charging Systems Market, By Distribution Channel
11.1 Introduction
11.2 OEMs
11.3 Aftermarket

12 Global Wireless Electric Vehicle Charging Systems Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa

13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies

14 Company Profiling
14.1 Toshiba Corporation
14.2 Tesla
14.3 Robert Bosch GmbH
14.4 Toyota Motor Corporation
14.5 ZTE Corporation
14.6 Momentum Dynamis Corporation
14.7 Nission
14.8 TGOOD Global Ltd
14.9 HELLA GmbH & Co
14.10 Qualcomm Inc
14.11 Coninental AG
14.12 DAIHEN Corporation
14.13 BMW
14.14 Lumen Pty Ltd
14.15 WiTricity Corporation
14.16 HEVO Inc
14.17 ElectReon Wireless Ltd
14.18 Mojo Mobility Inc
14.19 Plugless Power LLC
14.20 Wave LLC

List of Tables
1 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Region (2021-2030) ($MN)
2 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Type (2021-2030) ($MN)
3 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Dynamic (2021-2030) ($MN)
4 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Static (2021-2030) ($MN)
5 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Component (2021-2030) ($MN)
6 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Vehicle Pads (2021-2030) ($MN)
7 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Power Control Units (PCU) (2021-2030) ($MN)
8 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Base Pads (2021-2030) ($MN)
9 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Battery Management Systems (BMS) (2021-2030) ($MN)
10 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Other Components (2021-2030) ($MN)
11 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Power Supply (2021-2030) ($MN)
12 Global Wireless Electric Vehicle Charging Systems Market Outlook, By 3 to <7.7 KW (2021-2030) ($MN)
13 Global Wireless Electric Vehicle Charging Systems Market Outlook, By 7.7 to < 11KW (2021-2030) ($MN)
14 Global Wireless Electric Vehicle Charging Systems Market Outlook, By 11 to < 20KW (2021-2030) ($MN)
15 Global Wireless Electric Vehicle Charging Systems Market Outlook, By 20 to < 50 KW (2021-2030) ($MN)
16 Global Wireless Electric Vehicle Charging Systems Market Outlook, By 50 KW & Above (2021-2030) ($MN)
17 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Vehicle Type (2021-2030) ($MN)
18 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Battery Electric Vehicles (2021-2030) ($MN)
19 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Plug-In Hybrid Electric Vehicles (2021-2030) ($MN)
20 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Commercial Electric Vehicles (2021-2030) ($MN)
21 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Charging Method (2021-2030) ($MN)
22 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Magnetic Gear Wireless Power Transfer (MGWPT) (2021-2030) ($MN)
23 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Capacitive Wireless Power Transfer (CWPT) (2021-2030) ($MN)
24 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Resonant Inductive Power Transfer (RIPT) (2021-2030) ($MN)
25 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Inductive Power Transfer (IPT) (2021-2030) ($MN)
26 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Other Charging Methods (2021-2030) ($MN)
27 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Installation (2021-2030) ($MN)
28 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Commercial (2021-2030) ($MN)
29 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Home (2021-2030) ($MN)
30 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Distribution Channel (2021-2030) ($MN)
31 Global Wireless Electric Vehicle Charging Systems Market Outlook, By OEMs (2021-2030) ($MN)
32 Global Wireless Electric Vehicle Charging Systems Market Outlook, By Aftermarket (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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