Wireless Electric Vehicle (EV) Charging System Market by Component (Base Charging Pad, Power Control Unit, Vehicle Charging Pad) by Charging Type (Dynamic Wireless Charging System, Stationary Wireless Charging System): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global Wireless Electric Vehicle (EV) Charging System Market is expected to cross-market value of USD 235.15 million in 2027 from USD 25.83 million in 2020. It is expected to grow at a CAGR of over 44.5% during the forecast period.

Wireless electric vehicle charging is a way of charging vehicles that do not require wires while in motion or stationary at charging stations. This charging system requires the vehicles to have a power receiving coil installed under the vehicle's surface and a power transmitting coil installed on the charging station in order for power to be transmitted and the vehicles' batteries to be charged. Credence Research is offering holistic information and absolute accuracy in the report titled "Global Wireless Electric Vehicle (EV) Charging System Market."

Key Market Drivers and Restraints

Factors that greatly impact the market growth of industrial electric vehicles will be covered here. Also, covers factors that may challenge or act as an opportunity for the market will be discussed to identify revenue generation.

Impact of COVID-19 on the Market

The global wireless EV charging market has been impacted by the COVID-19 pandemic, as manufacturing units have been shut down due to the enforced lockout in major countries around the world. In addition, the scarcity of skilled labor has also impacted the sector. However, due to increasing technology adoption in developing countries, the global wireless EV charger market is expected to expand significantly in the near future.

Europe to Dominate the global market.

On the geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research provides in-depth insight into prominent regions of the global market. Europe dominated with over 48.11% share in 2020.

The Base Charging Pad leads Global Market.

Base Charging Pad, Power Control Unit, and Vehicle Charging Pad are three components of the global market. Base Charging Pad dominated the market due to a large number of use cases and pilot projects promoting the implementation of static wireless EV charging systems that use specified base pads for power transmission and the standardization of wireless charging pads to enable interoperability.

Stationary Wireless Charging systems continue to dominate the global market in terms of Charging Type.

Dynamic and Stationary Wireless Charging systems are two Charging Types in this market. The stationary system ruled the market in 2020. The expansion of charging networks for electric vehicles has been aided by the growth of stationary wireless charging systems. A number of firms have developed stationary wireless charging solutions. Evatran (Plugless) has launched a stationary wireless charging system for the Chevrolet Volta and Nissan Leaf.

Frequently asked questions

The market for Wireless Electric Vehicle (EV) Charging System is expected to reach USD 235.15 million in 2027.

The Wireless Electric Vehicle (EV) Charging System market is expected to see significant CAGR growth over the coming years, at 44.5 %.

The report is forcasted from 2015-2027.

The base year of this report is 2021.

Continental AG, Qualcomm Technologies Inc.,TOYOTA MOTOR CORPORATION, Bombardier, WiTricity Corporation, HELLA GmbH & Co. KGaA, TOSHIBA CORPORATION, ZTE Corporation, LIX Wireless are some of the major players in the global market.

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Published Date:  May 2021
Category:  Automotive & Transportation
Report ID:   60362
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
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