Wireless Electric Vehicle Charging Market Rising Global Trends, Industry Size, Demands and Growth Analysis by WiTricity, Nission, Qualcomm, ZTE Corporation, ELIX Wireless

Wireless Electric Vehicle Charging Market Overview

The Wireless Electric Vehicle Charging Market Size is expected to cross USD 258.65 Million by 2027 at a CAGR of 48.82% during the forecast period ending in 2027. During the study era, the global wireless EV charging market observed exponential growth. Increasing electric vehicle development is pushing the wireless electric vehicle charging market to expand globally. Growing demand for dynamic electric vehicle charging (DEVC) technology, growing long-distance driving by electric vehicles, increasing demand for environmentally friendly vehicles, and increasing concern for safety in electric vehicles are the main driving factors for the growth of this sector. The augmented cost and energy loss during transmission are acknowledged as the critical impeding factors for the growth of this market.

Wireless Electric Vehicle Charging market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.

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Globally Major key Players accelerates the Wireless Electric Vehicle Charging Market are, Plugless Power (USA), WiTricity (USA), Nission (Japan), Qualcomm, Inc. (USA), ZTE Corporation (China), ELIX Wireless (Canada), HEVO power (USA), Continental AG (Germany), Toshiba Corporation (Japan), and BMW (Germany).

Growth Drivers:

• Increasing demand for autonomous and semi-autonomous vehicles, growing industrialization, urbanization, and developing economies in emerging countries
• Growing sales and government support for electric vehicles, stringent regulations
• Swelling demand for dynamic electric vehicle charging (DEVC) technology
• Growing long distance drive by electric vehicles, increasing demand for environment friendly vehicles, and emerging concern on safety in electric vehicles

Most important Segments of Wireless Electric Vehicle Charging market covered in this report are,

The global wireless electric vehicle charging market is segmented based on the power supply range, charging type, charging station, charging pad, propulsion, vehicle type, application, and region.

Based on the charging type, the market has been divided into dynamic and stationary wireless electric charging.

Based on the power supply range, the market has been segmented into 20 to < 50 KW, 3 to