The wireless car charging offers various opportunities, for example, wireless charging stations in shopping centers and commercial buildings and on public roads. A rising concern in the worldwide market by prominent companies offering wireless car charging commodities and rising government subsidies are expected to amplify the growth of the worldwide market in the approaching years.
Growing investment in R&D activities for wireless car charging as well as increasing utilization of EV’s to eradicate harmful emissions plus decrease the carbon footprint are the major drivers of market growth in terms of revenue. However, the requirement for products regularity and customers concern as regards to infrastructure back up is likely to impede the growth of the worldwide market.
The global wireless car charging market is projected to account for a market value of close to US$ 3,147 Million through 2025 end, registering a remarkable of a 41.7% CAGR in value terms throughout the predicted period of 2025.
• Based on the base station, the worldwide market is broadly categorised into dynamic and static. The static category is likely to be leading all over the predicted period, by gaining around 70% of market share through 2025 end. The category is projected to account for a market value of US$ 2,214.8 Million through 2025 end, recording a 39.3%CAGR. On the other hand, the Dynamic category is projected to record the maximum 49.4% CAGR in valuation terms.
• Based on the type of car, the overall market is segmented into hybrid and electric. The Electric car segment is the biggest category with an anticipated market share of over 70% through 2025 end. This segment is estimated to be the most attractive in the worldwide market and is likely to see a firm growth in revenue terms all through the predicted period.
• Based on the technology, the worldwide market is divided into hybrid-inductive resonance and inductive charging. The inductive charging is the biggest division and is likely to gain around 72% of the overall market share through 2025 end, exhibiting a robust CAGR of 40.0% in valuation terms, this division is estimated to remain leading the worldwide market for wireless car charging over the predicted period.
• Based on the region, the overall market is broadly segmented into EMEA, Asia Pacific and Americas. Asia Pacific is predicted to be the leading regional market and is estimated to gain over 50% of the market share through the end of the calculated year in 2025.
Key Market Players
Some of the major companies functional in the worldwide market for wireless car charging
• Evatran LLC (Plugless Power)
• Qualcomm Technologies Inc.
• Momentum Dynamics Corp.
• WiTricity Corporation
• Mojo Mobility Inc.
• HEVO Inc.
• Toshiba Corporation
• Denso Corporation
• TDK Corporation
• Bombardier Inc
• ZTE Corporation