Wireless Electric Vehicle Charging Market by Global Demand and Latest Technology 2021 - Continental AG, Qualcomm Inc., Robert Bosch Gmbh, Texas Instruments Inc.

The Wireless Electric Vehicle Charging Market was valued at USD 513.5 million in 2019 and is predicted to reach USD 3.75 billion by 2030 with a CAGR of 19.8% from 2020-2030.

Wireless Electric Vehicle Charging technology helps in charging the EVs without using any charging cables. As a result, users need not to wait in charging stations for hours and can charge their vehicle anywhere even in driving mode if the roads are embedded with a series of coils connected to an electric source. Wireless electric vehicle charging not only provides safe and convenient charging solution but also helps to charge the vehicle faster. It also helps to reduce the size of batteries installed in electric vehicles and can be used in any weather conditions.

Access Full Description of this report at:-

https://www.nextmsc.com/report/wireless-electric-vehicle-charging-market

Competitive Landscape

The wireless electric vehicle charging market is highly competitive and consists of various market players. Some of the market players include Bombardier, Continental AG, Evatran Group Inc. (plug less power), Fulton Innovation, Integrated Device Technology, Inc., Powermat Technologies Ltd, Qualcomm Inc., Robert Bosch GmbH, Texas Instruments Inc., Toyota Motor Corporation, and Witricity Corporation. The market players of wireless electric vehicle market are launching various new products and technologies to maintain their dominance in the market. For instance, In May 11, 2020, Witricity Corporation launched new magnetic resonance technology, which delivers same power and charge rate as conventional charging methods.

Market Dynamics and Trends:

Rising inclination towards electric vehicle due to increasing pollution caused by fossil fuel-based automobiles, growing demand of energy-efficient sources, and heavy investment for developing fast charging technologies are the major factors driving the growth of wireless electric vehicle charging market. Also, factors such as growing research in the field of wireless charging technologies, surging consumer demand for convenient charging features, and increasing oil prices are boosting the market growth. However, high cost of the wireless charging devices, technological challenges, and lack of requisite infrastructure are the factors expected to restrain the market growth. On the other hand, government encouragement towards alternate fuel vehicles and advancement in technology are expected to create ample growth opportunities for the market in the coming years.

Request sample copy of this report at:-

https://www.nextmsc.com/wireless-electric-vehicle-charging-market/request-sample

Market Segmentations and Scope of the Study:

The global wireless electric vehicle charging market is categorized on the basis of power source, charging method, installation, distribution channel, vehicle type and geography. On the basis of power source, the market is segmented into 3–50 kW. On the basis of charging method, the market is divided into capacitive wireless power transfer (CWPT), magnetic gear wireless power transfer (MGWPT), resonant inductive power transfer (RIPT), and inductive power transfer (IPT). On the basis of installation, the market is classified into home and commercial. On the basis of distribution channel, the market is categorized into OEMs and aftermarket. On the basis of vehicle type, the market is bifurcated into BEV, PHEV, and Commercial EV. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.

Geographical Analysis:

North America holds the lion share of the wireless electric vehicle charging market. This is attributed to factors such as increasing adoption of electric vehicle, and growing advancement in automotive sector in this region.

However, Europe is expected to grow rapidly in terms of market share in the global wireless electric vehicle charging market during the forecast period. This is due to factors such as availability of developed infrastructure, increasing sale of electric vehicle and presence of leading market players such as Continental AG and Robert Bosch GmbH.

Postal Address:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.