Global Wireless Electric Vehicle Charging Market: Overview
Wireless electric vehicle is the latest technology used for charging the electric vehicles without the use of codes or plugs. The wireless receivers are installed in the electric vehicles through which the power is transmitted to the battery from power station. Wireless electric vehicle charging has several advantages over the traditional charging methods such as it is simple to use and convenient, automatic and is unaffected by rain or snow, can be used in any weather conditions. Moreover, the use of wireless electric vehicle reduces the size of the battery of electric vehicles and is capable of charging while the vehicle is in motion. The penetration of electric vehicles are demanding more efficient charging technologies and reduction in the size of the batteries installed in electric vehicles. The wireless electric vehicle charging is the solution to address the above challenges faced by consumers and manufacturers. Thus, considering above factors the global wireless electric vehicle is expected to register a healthy growth rate over the forecast period.
Global Wireless Electric Vehicle Charging Market: Drivers & Restraints
The global wireless electric vehicle charging market is primarily driven by the increasing penetration of electric vehicles across the globe and the need for efficient battery charging technologies can be attributed to the growth of global wireless electric vehicle charging market. The wireless electric charging is capable of charging the electric vehicles in short span as compared to the wired systems and eliminates the constant stop for charging during long journeys as the wireless electric vehicle charging can be used while the vehicle is in motion.
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One of the prominent player in the wireless vehicle electric charging market has developed mobile apps integrated with the charging system, which allows the customers to charge their electric vehicles by parking their vehicles in the company’s power station and charge electric vehicles with a click on the smartphone. The above-mentioned trends will also contribute to the growth of global wireless electric vehicle charging market. The technological challenges such as the signaling problem and errors among others might pose as a restraint to the global wireless electric vehicle charging market.
Global Autonomous Vehicles Market: Market Segmentation
Based on power transfer technologies, the global wireless electric vehicle charging market can be segmented into:
- Radio Waves
- Micro Waves
- Inductive Coupling
- Magnetic Resonance Coupling
Based on type of vehicles, the global wireless electric vehicle charging market can be segmented into:
- EV’s (Electric Vehicles)
- PHEV’s (Plug-in Hybrid Electric Vehicles
Based on type of charging, the global wireless electric vehicle charging market can be segmented into:
- Stationary Wireless Electric Vehicle Charging
- Dynamic Wireless Electric Vehicle Charging
Global Wireless Electric Vehicle Charging Market: Regional Outlook
Based on the geographic regions, global wireless electric vehicle charging market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. Among the aforementioned regions, the North America market holds the largest share of global wireless electric vehicle charging market, due to the higher penetration of electric vehicles and the subsequent increase in the number of wireless electric vehicles charging station in the region. Western Europe market for wireless electric vehicle charging market is trailing behind the North American market. The adoption of the technology in countries like Sweden, Germany is attributed to the growth of wireless electric vehicle charging market in the region. China in the Asia-Pacific market for wireless electric vehicle charging market is expected to provide lucrative opportunities with forecasted penetration of EV’s in the country by OECD. The global wireless electric vehicle charging market will register a healthy double digit CAGR by the end of forecast period.
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Global Wireless Electric Vehicle Charging Market: Key Players
Some of the key players identified in the global wireless electric vehicle charging market are Qualcomm Technologies, Inc., EVATRAN GROUP, INC., HEVO Inc., Leviton Manufacturing Co., Inc., and WiTricity Corporation. among others.
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