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 the use of wires while in motion or while 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 on the report titled “Global Wireless Electric Vehicle (EV) Charging System Market”.

Key Market Drivers and Restraints

Factors that have high impact on the market growth of industrial electric vehicles will be covered her. Also, covers factors that may challenge or act as opportunity for market will be discussed in order to identify the 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. The sector has also been impacted by the scarcity of skilled labour. 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 geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research is providing in-depth insight on prominent regions of global market. Europe dominated with over 48.11% share in 2020.

Global Market is led by the Base Charging Pad

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 the presence of 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 standardisation of wireless charging pads to enable interoperability.

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

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

Frequently asked questions about global industry

  • Which are the different Components of Wireless Electric Vehicle (EV) Charging System?
    Ans: Power Control Unit, Base Charging Pad, Vehicle Charging Pad are the different Components available in the market
  • Who are the key players in the global industry?
    Ans: Qualcomm Technologies Inc., Continental AG, Bombardier, HELLA GmbH & Co. KGaA, ZTE Corporation, TOYOTA MOTOR CORPORATION, WiTricity Corporation, TOSHIBA CORPORATION and LIX Wireless are the key players operating in this market
  • Which is the fastest growing Charging Type segment for global industry?
    Ans: Stationary Charging Type offers tremendous opportunities to players
  • Which is the leading regional market for global industry?
    Ans: Europe has the largest share owing to various developments happening in this space
  • What will be the CAGR (2021 - 2027) of in global industry?
    Ans: The market is anticipated to grow at a CAGR of 44.5% throughout the forecast period
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Published Date:  May 2021
Category:  Automotive & Transportation
Report ID:   60362
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
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