About Wireless Electric Vehicle (EV) Charging Systems
Inductive power transfer technology is used in wireless EV charging systems to transfer power from a pad embedded in the ground to a pad attached to an EV's underbelly to charge its battery. These pads are either situated in commercial infrastructure and private garage parking spaces for charging one vehicle at a time or along a stretch of road for charging many vehicles while they are on the move. Wireless EV charging systems have a number of advantages over plug-in EV charging systems, including ease of use, convenience, and ease of installation. These charging solutions eliminate the plug-in issues that are common with cable EV charging. Additionally, these systems can help reduce the vehicles’ battery sizes and range anxiety issues associated with electric vehicles.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for wireless electric vehicle (EV) charging systems is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes Continental AG, Powermat Technologies Ltd, WiTricity Corporation and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders demonstrate a market-defining vision of how wireless electric vehicle (EV) charging systems can help top-line business executives achieve their business objectives. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Wireless Electric Vehicle (EV) Charging Systems market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Continental AG (Germany), Powermat Technologies Ltd (Israel), Qualcomm Technologies Inc. (United States), Toyota Motor Corporation (Japan), WiTricity Corporation (United States), WAVE Inc. (Ideanomics) (United States), Ossia Inc. (United States), Efacec (Portugal), IPT Group (Lebanon) and Electreon (Israel) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Plugless Power Inc. (Evatran Group) (United States), Hevo Inc. (United States) and Momentum Dynamics Corp (United States).
Segmentation Overview
AMA Research has segmented the market of Global Wireless Electric Vehicle (EV) Charging Systems market by Type (Dynamic Wireless Charging System and Stationary Wireless Charging System), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Wireless Electric Vehicle (EV) Charging Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Wireless Electric Vehicle (EV) Charging Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Increasing Popularity of Pop-Up EV Chargers and Growing Demand for Roadside EV Charging Cabinets and Lamp-Post EV Charging Points
Market Growth Drivers:
Increase in Demand for Electric Vehicles and Rising Prevalence of Range Anxiety
Challenges:
Slower Charging as Compared to Other Charging Technologies are Expected to Hamper the Growth of the Market
Restraints:
High Cost of Upgrading to Wireless Charging Technology
Opportunities:
Increasing Initiatives from Governments for Wireless Charging and Rising Opportunities in Emerging Countries
Market Leaders and their expansionary development strategies
In January 2021 IPT Group had announced the acquisition of PRIMOVE from Bombardier. With this acquisition, IPT brings together two cleantech scale-ups in wireless power transfer for e-mobility that will benefit from synergies, allowing IPT to offer a more comprehensive product portfolio to service a wider range of customers. IPT Technology has created heavy-duty e-mobility systems and has origins in industrial wireless applications. IPT is enhancing its market position and speeding up its business planning by merging the technology and skills of both firms.
In February 2022 Witricity had announced the launch of aftermarket wireless charging upgrade of WiTricity Halo. The WiTricity Halo update will enable 11 kW wireless charging, allowing for a charge rate of up to 35-40 miles of driving range per hour of charging time, comparable to today's Level 2 AC plug-in chargers in terms of speed and efficiency. The WiTricity Halo upgrade consists of three major components: a vehicle-mounted power receiver, a wall box that connects to electric power, and a charging pad that may be mounted on or in the ground.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Wireless Electric Vehicle (EV) Charging Systems Distributors and Suppliers, Raw Material Suppliers, End-use industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.