Wireless Electric Vehicle Charger Market 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 Market 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 electric vehicle charger market 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 electric vehicle charger Market 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 global wireless electric vehicle charger market is studied for various segments that are based on technology, component, and region. Based on technology, the global wireless electric vehicle charger market is segmented into conductive charging, inductive charging, dynamic charging, and magnetic resonance. Based on component, the global wireless electric vehicle charger market is segmented into wireless power receiver, electromagnetic induction, rectifies, power distribution box, ground transmission unit, vehicle receiver unit, and battery.
Regional Insights:
The global wireless electric vehicle charger market is studied for a segmentation, that is based on region, to gain a detailed perspective of the market landscape in key regions of the world. This segmentation has also enabled the researchers at Market Research Future (MRFR) to reveal various trends that facilitate decision-making for the audience of this report. The global wireless electric vehicle charger market is segmented into the regions of North America, Europe, Asia Pacific, and Rest of the World.
Presently, North America is estimated to boast a dominant stance over the market. Initiatives undertaken by governments functioning in the region for the reduction of carbon emissions and use of non-renewable resources has prompted a hike in the growth of the regional wireless electric vehicle charger market. This is anticipated to supplement demand for electric vehicles, hence, fostering market growth over the forecast period. Furthermore, the presence of key players in this region has provided the regional market with higher momentum of growth as compared to other regional segments.
Europe and Asia Pacific are estimated to emerge as strong growth pockets within the global wireless electric vehicle charger market. This can be attributed to the thriving automotive sector of the region and is expected to showcase significant proliferation of the market. Within Asia Pacific, accelerated adoption of electric vehicles, especially in China is observed. This momentous growth is backed by government policies which are bound to catapult the global wireless electric vehicle charger market.
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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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