Wireless Electric Vehicle Charging Market Overview
Wireless charging is also known as conductive charging or cordless charging. Wireless charging uses electromagnetic induction to provide electricity. It is highly imperative to have a charging station to execute the wireless EV charging. The global Wireless Electric Vehicle Charging market is expected to rise at a considerable rate in the forecast period.
Several main factors are present to boost the growth of the wireless electric vehicle charging markets such as increasing demand for electric vehicles, rising oil prices, global warming, growing infrastructure for fast or dash chargers, and rising consumer demand for convenience features. Additionally, the U.S Energy Department declared up to US$ 4 Mn to develop wireless chargers for electric vehicles. This funding is projected to enhance the development of wireless charging technology, in the forecast period, to provide automated charging of parked vehicles, which can ensure easy and efficient vehicle charging. Ultimately it creates favorable ways for the expansion of the Wireless Electric Vehicle Charging market in the next few years.
On the downside, the prime factor limiting the wireless EV charging market is the high price of the upgrade to wireless charging technology. In addition to this, other drawbacks for this market include in comparison with the gasoline vehicle, the electric vehicle has six times lower cost for a one-mile drive, whereas its driving range is only one-third of the gasoline vehicle per full charge. Furthermore, excessive research in far-field wireless charging technologies, technological advancements, and adoption of smart marketing strategy creates a strong impact on the global Wireless Electric Vehicle Charging market.
Covid-19 Impact on Wireless Electric Vehicle Charging Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Wireless Electric Vehicle Charging Market Segment Overview
Based on vehicle type, the BEV segment is expected to hold the largest share in the wireless charging for the electric vehicle market. Leading automotive companies such as Tesla, BMW, and Nissan now offer wireless charging in BEV models such as Tesla Model S, BMW i3, and Nissan Leaf. In addition, OEMs are focusing on BEVs due to stringent government regulations to control rising emissions. Increasing BEV sales and government support are anticipated to drive the overall market. According to charging type, Stationary charging is expected to be the largest contributor in wireless charging for the electric vehicle market during the forecast period. The stationary wireless charging system is convenient, safe, and reliable. This technology is interoperable as drivers can charge their vehicles with any wireless charging system. As well, vehicles can be charged in parking spots and public places wirelessly. The growth of stationary wireless charging systems has contributed to the expansion of charging networks for electric vehicles.
Wireless Electric Vehicle Charging Market, By Power Source
· 3–<11 kW
· 11–50 kW
· >50 kW
Wireless Electric Vehicle Charging Market, By Charging Type
· Dynamic Wireless Charging System
· Stationary Wireless Charging System
Wireless Electric Vehicle Charging Market, By Installation
· Home
· Commercial
Wireless Electric Vehicle Charging Market, By Distribution Channel
· OEMs
· Aftermarket
Wireless Electric Vehicle Charging Market, By Vehicle Type
· BEV
· PHEV
· Commercial EV
Wireless Electric Vehicle Charging Regional Overview
In terms of region, North America and Europe are the major regions for the Wireless Electric Vehicle Charging market. This is due to the presence of leading players and the availability of well-developed infrastructure allows the incorporation of wireless charging infrastructure in these regions. In addition, an increase in electric vehicle sales and a large number of charging stations would drive the market of Wireless Electric Vehicle Charging in the European region. Similarly, Asia Pacific is expected to dominate the wireless EV charging market in the coming years. Demand for wireless charging systems is directly linked to electric vehicle production and consumer demand in APAC and Middle East and Africa. Moreover, government policies and subsidies favoring electric vehicles and electric vehicle charging stations (EVCS) are boosting the market in the Middle East and Latin America.
Wireless Electric Vehicle Charging Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Wireless Electric Vehicle Charging Market Competitor overview
Some key developments and strategies adopted by manufacturers in Wireless Electric Vehicle Charging are highlighted below.
· In February 2019, WiTricity, the industry pioneer in wireless power transfer over distance, has entered into a technology licensing agreement with Yura Corporation, a leading South Korea-based automotive Tier 1 supplier. Yura is a global supplier of a wide range of automotive parts for conventional vehicles and eco-friendly xEVs (pure electric vehicles). The agreement allows Yura to access WiTricity’s wireless charging technology, support, and intellectual property (IP) rights to develop and commercialize wireless EV charging systems.
· In March 2019, ELIX Wireless, the pioneering developer of low-EMI, safe wireless charging technology for eMobility, announced the grand opening of its China engineering center located in Zongshen Power’s state-of-the-art campus in Chongqing. This engineering center will advance the development and manufacturing of its wireless charging systems and allow ELIX to avail itself of synergies with one of China’s leading automotive manufacturers, Zongshen Power.
Wireless Electric Vehicle Charging Market, Key Players
· Robert Bosch GmbH
· Continental AG
· Toyota Motor Corporation
· Toshiba Corporation
· WiTricity Corporation
· Qualcomm, Inc.
· Evatran Group
· ZTE Corporation
· HELLA KGaA Hueck & Co.
Wireless charging is also known as conductive charging or cordless charging. Wireless charging uses electromagnetic induction to provide electricity. It is highly imperative to have a charging station to execute the wireless EV charging. The global Wireless Electric Vehicle Charging market is expected to rise at a considerable rate in the forecast period.
Several main factors are present to boost the growth of the wireless electric vehicle charging markets such as increasing demand for electric vehicles, rising oil prices, global warming, growing infrastructure for fast or dash chargers, and rising consumer demand for convenience features. Additionally, the U.S Energy Department declared up to US$ 4 Mn to develop wireless chargers for electric vehicles. This funding is projected to enhance the development of wireless charging technology, in the forecast period, to provide automated charging of parked vehicles, which can ensure easy and efficient vehicle charging. Ultimately it creates favorable ways for the expansion of the Wireless Electric Vehicle Charging market in the next few years.
On the downside, the prime factor limiting the wireless EV charging market is the high price of the upgrade to wireless charging technology. In addition to this, other drawbacks for this market include in comparison with the gasoline vehicle, the electric vehicle has six times lower cost for a one-mile drive, whereas its driving range is only one-third of the gasoline vehicle per full charge. Furthermore, excessive research in far-field wireless charging technologies, technological advancements, and adoption of smart marketing strategy creates a strong impact on the global Wireless Electric Vehicle Charging market.
Covid-19 Impact on Wireless Electric Vehicle Charging Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Wireless Electric Vehicle Charging Market Segment Overview
Based on vehicle type, the BEV segment is expected to hold the largest share in the wireless charging for the electric vehicle market. Leading automotive companies such as Tesla, BMW, and Nissan now offer wireless charging in BEV models such as Tesla Model S, BMW i3, and Nissan Leaf. In addition, OEMs are focusing on BEVs due to stringent government regulations to control rising emissions. Increasing BEV sales and government support are anticipated to drive the overall market. According to charging type, Stationary charging is expected to be the largest contributor in wireless charging for the electric vehicle market during the forecast period. The stationary wireless charging system is convenient, safe, and reliable. This technology is interoperable as drivers can charge their vehicles with any wireless charging system. As well, vehicles can be charged in parking spots and public places wirelessly. The growth of stationary wireless charging systems has contributed to the expansion of charging networks for electric vehicles.
Wireless Electric Vehicle Charging Market, By Power Source
· 3–<11 kW
· 11–50 kW
· >50 kW
Wireless Electric Vehicle Charging Market, By Charging Type
· Dynamic Wireless Charging System
· Stationary Wireless Charging System
Wireless Electric Vehicle Charging Market, By Installation
· Home
· Commercial
Wireless Electric Vehicle Charging Market, By Distribution Channel
· OEMs
· Aftermarket
Wireless Electric Vehicle Charging Market, By Vehicle Type
· BEV
· PHEV
· Commercial EV
Wireless Electric Vehicle Charging Regional Overview
In terms of region, North America and Europe are the major regions for the Wireless Electric Vehicle Charging market. This is due to the presence of leading players and the availability of well-developed infrastructure allows the incorporation of wireless charging infrastructure in these regions. In addition, an increase in electric vehicle sales and a large number of charging stations would drive the market of Wireless Electric Vehicle Charging in the European region. Similarly, Asia Pacific is expected to dominate the wireless EV charging market in the coming years. Demand for wireless charging systems is directly linked to electric vehicle production and consumer demand in APAC and Middle East and Africa. Moreover, government policies and subsidies favoring electric vehicles and electric vehicle charging stations (EVCS) are boosting the market in the Middle East and Latin America.
Wireless Electric Vehicle Charging Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Wireless Electric Vehicle Charging Market Competitor overview
Some key developments and strategies adopted by manufacturers in Wireless Electric Vehicle Charging are highlighted below.
· In February 2019, WiTricity, the industry pioneer in wireless power transfer over distance, has entered into a technology licensing agreement with Yura Corporation, a leading South Korea-based automotive Tier 1 supplier. Yura is a global supplier of a wide range of automotive parts for conventional vehicles and eco-friendly xEVs (pure electric vehicles). The agreement allows Yura to access WiTricity’s wireless charging technology, support, and intellectual property (IP) rights to develop and commercialize wireless EV charging systems.
· In March 2019, ELIX Wireless, the pioneering developer of low-EMI, safe wireless charging technology for eMobility, announced the grand opening of its China engineering center located in Zongshen Power’s state-of-the-art campus in Chongqing. This engineering center will advance the development and manufacturing of its wireless charging systems and allow ELIX to avail itself of synergies with one of China’s leading automotive manufacturers, Zongshen Power.
Wireless Electric Vehicle Charging Market, Key Players
· Robert Bosch GmbH
· Continental AG
· Toyota Motor Corporation
· Toshiba Corporation
· WiTricity Corporation
· Qualcomm, Inc.
· Evatran Group
· ZTE Corporation
· HELLA KGaA Hueck & Co.
Wireless Electric Vehicle Charging Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Wireless Electric Vehicle Charging Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Power Source
- 5.2.1. 3–<11 kW
- 5.2.2. 11–50 kW
- 5.2.3. >50 kW
- 5.3. Market Analysis, Insights and Forecast – By Charging Type
- 5.3.1. Dynamic Wireless Charging System
- 5.3.2. Stationary Wireless Charging System
- 5.4. Market Analysis, Insights and Forecast – By Installation
- 5.4.1. Home
- 5.4.2. Commercial
- 5.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 5.5.1. OEMs
- 5.5.2. Aftermarket
- 5.6. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.6.1. BEV
- 5.6.2. PHEV
- 5.6.3. Commercial EV
- 5.7. Market Analysis, Insights and Forecast – By Region
- 5.7.1. North America
- 5.7.2. Europe
- 5.7.3. Asia Pacific
- 5.7.4. Latin America, Middle East and Africa
6. North America Wireless Electric Vehicle Charging Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Power Source
- 6.2.1. 3–<11 kW
- 6.2.2. 11–50 kW
- 6.2.3. >50 kW
- 6.3. Market Analysis, Insights and Forecast – By Charging Type
- 6.3.1. Dynamic Wireless Charging System
- 6.3.2. Stationary Wireless Charging System
- 6.4. Market Analysis, Insights and Forecast – By Installation
- 6.4.1. Home
- 6.4.2. Commercial
- 6.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 6.5.1. OEMs
- 6.5.2. Aftermarket
- 6.6. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.6.1. BEV
- 6.6.2. PHEV
- 6.6.3. Commercial EV
- 6.7. Market Analysis, Insights and Forecast – By Country
- 6.7.1. U.S.
- 6.7.2. Canada
7. Europe Wireless Electric Vehicle Charging Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Power Source
- 7.2.1. 3–<11 kW
- 7.2.2. 11–50 kW
- 7.2.3. >50 kW
- 7.3. Market Analysis, Insights and Forecast – By Charging Type
- 7.3.1. Dynamic Wireless Charging System
- 7.3.2. Stationary Wireless Charging System
- 7.4. Market Analysis, Insights and Forecast – By Installation
- 7.4.1. Home
- 7.4.2. Commercial
- 7.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 7.5.1. OEMs
- 7.5.2. Aftermarket
- 7.6. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.6.1. BEV
- 7.6.2. PHEV
- 7.6.3. Commercial EV
- 7.7. Market Analysis, Insights and Forecast – By Country
- 7.7.1. UK
- 7.7.2. Germany
- 7.7.3. France
- 7.7.4. Italy
- 7.7.5. Spain
- 7.7.6. Russia
- 7.7.7. Rest of Europe
8. Asia Pacific Wireless Electric Vehicle Charging Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Power Source
- 8.2.1. 3–<11 kW
- 8.2.2. 11–50 kW
- 8.2.3. >50 kW
- 8.3. Market Analysis, Insights and Forecast – By Charging Type
- 8.3.1. Dynamic Wireless Charging System
- 8.3.2. Stationary Wireless Charging System
- 8.4. Market Analysis, Insights and Forecast – By Installation
- 8.4.1. Home
- 8.4.2. Commercial
- 8.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 8.5.1. OEMs
- 8.5.2. Aftermarket
- 8.6. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.6.1. BEV
- 8.6.2. PHEV
- 8.6.3. Commercial EV
- 8.7. Market Analysis, Insights and Forecast – By Country
- 8.7.1. China
- 8.7.2. India
- 8.7.3. Japan
- 8.7.4. Australia
- 8.7.5. South East Asia
- 8.7.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Wireless Electric Vehicle Charging Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Power Source
- 9.2.1. 3–<11 kW
- 9.2.2. 11–50 kW
- 9.2.3. >50 kW
- 9.3. Market Analysis, Insights and Forecast – By Charging Type
- 9.3.1. Dynamic Wireless Charging System
- 9.3.2. Stationary Wireless Charging System
- 9.4. Market Analysis, Insights and Forecast – By Installation
- 9.4.1. Home
- 9.4.2. Commercial
- 9.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 9.5.1. OEMs
- 9.5.2. Aftermarket
- 9.6. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.6.1. BEV
- 9.6.2. PHEV
- 9.6.3. Commercial EV
- 9.7. Market Analysis, Insights and Forecast – By Country
- 9.7.1. Brazil
- 9.7.2. Saudi Arabia
- 9.7.3. UAE
- 9.7.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Robert Bosch GmbH
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Continental AG
- 10.6. Toyota Motor Corporation
- 10.7. Toshiba Corporation
- 10.8. WiTricity Corporation
- 10.9. Qualcomm, Inc.
- 10.10. Evatran Group
- 10.11. ZTE Corporation
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
