Electric Vehicle Wireless Charging (EVWC) is a system that allows electric vehicles to be charged without the need for a physical connection between the vehicle and the charging station. The EVWC system uses inductive charging, which uses an electromagnetic field to transfer energy between two coils. One coil is located on the ground, and the other is located on the underside of the vehicle.
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The Electric Vehicle Wireless Charging Market Size was over USD 75.8 Million in 2022 and it is anticipated to grow at a CAGR of 45.3% during the forecast period.
Key Trends
The key trends in electric vehicle wireless charging market are the development of new charging standards, the increasing adoption of inductive charging, and the increasing deployment of public charging infrastructure.
- The Society of Automotive Engineers (SAE) has developed a new standard for wireless charging of electric vehicles, called the SAE J2954. This standard defines the technical requirements for inductive charging of electric vehicles and is the first step toward creating a global standard for wireless charging of electric vehicles.
- The adoption of inductive charging is increasing, as it offers a number of advantages over traditional wired charging, including convenience, safety, and efficiency. Inductive charging is also well-suited for public charging infrastructure, as it does not require the installation of new wiring or electrical outlets.
- The deployment of public charging infrastructure is increasing, as governments and private companies invest in the development of electric vehicle charging infrastructure. In the United States, the Department of Energy has invested over $4 billion in the development of electric vehicle charging infrastructure, and there are now over 16,000 public charging stations across the country.
- The increasing adoption of electric vehicles, the development of new charging standards, the increasing deployment of public charging infrastructure, and the increasing adoption of inductive charging are all key trends in electric vehicle wireless charging technology.
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Key Drivers
The key drivers of the electric vehicle wireless charging market are the increasing adoption of electric vehicles, the need for efficient and quick charging of electric vehicles, and the lack of a physical connection between the vehicle and the charging station.
The increasing adoption of electric vehicles is one of the key drivers of the electric vehicle wireless charging market. The growth of the electric vehicle market is being driven by the increasing awareness of the environmental benefits of electric vehicles, the declining cost of electric vehicles, and the increasing availability of charging infrastructure.
The need for efficient and quick charging of electric vehicles is another key driver of the electric vehicle wireless charging market. Electric vehicles have a limited range, and need to be charged frequently. Wireless charging is a more efficient way to charge electric vehicles, as it eliminates the need for a physical connection between the vehicle and the charging station.
The lack of a physical connection between the vehicle and the charging station is another key driver of the electric vehicle wireless charging market. Wireless charging stations can be installed in a variety of locations, such as parking lots, garages, and driveways. This eliminates the need for electric vehicle owners to find a charging station with an available charging port, and makes it more convenient to charge an electric vehicle.
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Restraints & Challenges
The key restraints and challenges in Electric Vehicle Wireless Charging market are:
- The high cost of wireless charging infrastructure.
- The lack of standardization in the wireless charging industry.
- The lack of awareness about wireless charging technology among consumers.
- The slow adoption of wireless charging technology by automakers.
Market Segmentation
The Electric Vehicle Wireless Charging Market has been segmented into Vehicle Type, Charging Method, Power Supply, Application, Distribution Channel, and Region. Based on Vehicle Type, the Electric Vehicle Wireless Charging Market has been divided into BEV, CEV, and PHEV. Based on Charging Method, it is divided into CWPT, MGWPT, RIPT, and IPT. By Power Supply, it is segmented into Up to 3.7 kW Above 3.7–7.7 kW, Above 7.7–11 kW, and Above 11 kW, Based on Application, the market is segmented into Commercial Charging Station and Home Charging Unit. Based on the Distribution Channel, the market is segmented into OEMS, and After Market. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and Rest of the World.
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Key Players
The key players in the Electric Vehicle Wireless Charging Market are IPT Technology Inc., Continental AG, Evatran Group (plugless), Nidec Mobility Corporation, Renesas Electronics, Powermat Technologies, Qualcomm Technologies, Robert Bosch GmbH, Texas Instruments, Toyota Motor Corporation, ElectReon, InductEV Inc., Plugless Power Inc., Wave Charging, Evatran Group Inc., IPT Technology Inc., Continental AG, Shenzhen VMAX New Energy Co., Ltd, HEVO Inc., and Witricity.
Market Segmentation
By Vehicle Type
- BEV
- PHEV
- CEV
By Charging Method
- CWPT
- MGWPT
- RIPT
- IPT
By Power Supply
- Up to 3.7 kW
- Above 3.7–7.7 kW
- Above 7.7–11 kW
- Above 11 kW
By Application
- Commercial Charging Station
- Home Charging Unit
By Distribution Channel
- OEMS
- After Market
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