Mordor Intelligence has published a new report on the Global Wireless Charging Market, offering a comprehensive analysis of trends, growth drivers, and future projections.
The Global Wireless Charging Market for electric vehicles (EVs) is experiencing significant growth, driven by technological innovations and the increasing adoption of EVs worldwide. The Wireless Charging for Electric Vehicle Market is projected to be valued at USD 0.21 billion in 2025 and is expected to grow to USD 1.07 billion by 2030, registering a CAGR of 38.4% during the forecast period (2025-2030).
Key Trends
Increasing Adoption of Electric Vehicles
The surge in electric vehicle sales globally is a primary driver for the wireless charging market. In 2022, EV sales crossed 10 million units for the first time, marking a 55.5% increase compared to 2021. This growth reflects a rising consumer preference for environmentally friendly transportation options, thereby fueling the demand for efficient and convenient charging solutions like wireless charging.
Technological Advancements in Wireless Charging
Innovations in wireless charging technology are enhancing efficiency and user experience. Recent developments include dynamic wireless charging, which allows EVs to charge while in motion, and improvements in inductive charging systems that offer higher power transfer rates and reduced energy losses. These advancements are expected to accelerate the adoption of wireless charging infrastructure.
Government Initiatives and Incentives
Governments worldwide are implementing policies and providing incentives to promote the adoption of electric vehicles and the development of charging infrastructure. For instance, countries like the United Kingdom, Norway, Japan, and the United States offer incentives to EV purchasers, which, in turn, drive the demand for wireless charging stations.
Market Segmentation
The wireless charging market for electric vehicles is segmented based on vehicle type, application type, and geography.
By Vehicle Type:
- Passenger Cars: Comprising the majority of the market share due to the high adoption rate of EVs among consumers.
- Commercial Vehicles: Includes buses, trucks, and other commercial transport vehicles adopting wireless charging solutions.
By Application Type:
- Residential: Wireless charging systems installed in private residences, offering convenience for individual EV owners.
- Commercial: Public wireless charging stations located in commercial areas, parking lots, and along highways to serve multiple users.
By Geography:
- North America: Leading the market with significant investments in wireless charging infrastructure and high EV adoption rates.
- Europe: Experiencing rapid growth due to stringent emission regulations and government support for sustainable transportation.
- Asia-Pacific: Notable growth driven by countries like China and Japan, focusing on technological advancements and expanding EV markets.
- Rest of the World: Emerging markets exploring wireless charging solutions to support the growing EV ecosystem.
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Key Players
The wireless charging market for electric vehicles features several key players driving innovation and competition:
WiTricity Corporation: A leading provider of wireless power transfer technology, focusing on advancing magnetic resonance technology for EV charging.
Evatran Group Inc.: Known for its Plugless Power brand, offering wireless charging systems for various electric vehicle models.
Momentum Dynamics Corporation: Specializes in high-power wireless charging solutions for automotive and transportation applications.
HEVO Inc.: Develops wireless charging platforms with a focus on seamless integration and user-friendly interfaces.
EFACEC: Provides innovative solutions in the field of energy, including wireless charging systems for electric vehicles.
These companies are investing in research and development to introduce new technologies and improve existing products, aiming to meet the evolving demands of the electric vehicle industry.
Conclusion
The global wireless charging market for electric vehicles is poised for substantial growth, driven by technological advancements, increasing electric vehicle adoption, and supportive government initiatives. As key players continue to innovate and expand their offerings, wireless charging is set to become a cornerstone of the EV ecosystem, providing efficient and convenient solutions for sustainable transportation.
Industry Related Reports
Global Wireless Charging Market: The report explores the future scope of Wireless Charging for Electric Vehicles and segments the market based on vehicle type, application type, and geography. By vehicle type, the market is categorized into Passenger Cars and Commercial Vehicles. In terms of application type, the market is divided into Residential and Commercial charging. Additionally, the market is analyzed across different geographical regions.
Asia-Pacific Wireless Charging Market: The report provides an analysis of the Asia-Pacific Automotive Inductive Wireless Charging Systems Market Share and Companies. The market is segmented by vehicle type, including Battery Electric Vehicles (BEVs) and Plug-in Hybrid Vehicles (PHEVs). Geographically, the market is analyzed across China, Japan, India, Australia, and the Rest of Asia-Pacific.
Europe Wireless Charging Market: The European Wireless Electric Vehicle Charging Technology Market is categorized based on vehicle type and geography. By vehicle type, the market includes Battery Electric Vehicles (BEVs) and Plug-in Hybrid Vehicles (PHEVs). Geographically, the market is analyzed across Germany, the United Kingdom, Italy, France, Spain, and the Rest of Europe.
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