From USD 7.0 million in 2019, the global wireless electric vehicle charging market is predicted to grow to USD 172.6 million by 2025, registering a CAGR of 59.9% during the forecast period (2020–2025).
Industry Insights by Component (Base Charging, Power Control Unit, Vehicle Charging Pad), by Distribution Channel (OEM, After Market), by Application (Home Charging Unit, Public Or Commercial Charging Station), by Charging Type (Dynamic Wireless Charging System, Stationary Wireless Charging System), by Vehicle Type (Commercial Vehicle, Passenger Car), By Charging System (Magnetic Power Transfer, Capacitive Power Transfer, Inductive Power Transfer), By Supply Range (3-<11kW, 11-50kW, >50kW), by Propulsion (BEV, PHEV)
Increasing pollution in the air in overcrowded cities leads to growing respiratory issues in the residents of such cities. These situations have led the government to provide subsidies to pollution depleting initiatives such as development of electric vehicles that is further driving the growth of global wireless electric vehicle charging markets. Furthermore, the leading companies in the battery manufacturing industry are showing great interest in investing towards wireless charging systems as electric vehicles are expected to gain huge momentum in the near future.
The BEV category, under the propulsion segment, would hold the largest share in the global wireless electric vehicle charging market in 2019
On the basis of propulsion, the global wireless electric vehicle charging market is segmented into BEV and PHEV. The BEV category, under the propulsion segment, would hold the largest share in the global wireless electric vehicle charging market in 2019. This is because of the leading players such as BMW, Nissan and Tesla are offering wireless charging in BEV models such as BMW i3 and Nissan Leaf.
During 2020–2025, the vehicle charging pod segment is expected to witness the fastest wireless electric vehicle charging market growth
Based on component, the global wireless electric vehicle charging market is categorized into base charging, power control unit, vehicle charging pad. During 2020–2025, the vehicle charging pod segment is expected to witness the fastest wireless electric vehicle charging market growth, as these pods helps in providing charging units for electric vehicles may be home, business or public use that offers high ease, flexibility and convenience to the users.
Geography Insight
Geographically, Europe was the largest wireless electric vehicle charging market in 2019. This is owing to the accessibility to well organized infrastructure that enhances the establishment of wireless charging infrastructure in this region. Development of effective infrastructure with access to large number of charging stations along with massive increase in the sale of electric vehicles in the region are the key factors driving the growth of global wireless electric vehicle charging market.
Competitive Insight
Some of the key players operating in the global wireless electric vehicle charging market are HEVO Inc., Integrated Device Technology, Inc., WiTricity Corporation, Robert Bosch GmbH, Toyota Motor Corporation, Daimler AG, Qualcomm Technologies, Continental AG, HELLA KGaA Hueck & Co., Mojo Mobility, and ZTE Corporation.
Global Unmanned Surface Vehicle (USV) Market Analysis and Forecast to 2024
The global unmanned surface vehicle (USV) market was valued at USD 1,513.0 million in 2019 and is expected to reach USD 3,096.0 million by 2025, growing at a CAGR of 12.5% during 2020-2025. The growth of this market is attributed towards rapid need for mapping data pertaining to ocean globally along with extensive requirement for maritime security. These vehicles are extremely efficient in estimating the threats and monitoring water quality. In order to prevent water bodies from getting contaminated the government authorities globally are undertaking initiatives in order to combat this situation and unmanned surface vehicle performs significant role and helps the government in conducting surveillance.
Global Electric Bus Charging Station Market Analysis and Forecast to 2024
The global electric bus charging station market is projected to reach USD 11.4 billion by 2024, registering a CAGR of 9.5% during the forecast period. Increasing adoption of electric buses in public transportation system, supporting government initiatives and schemes, and growing investment towards charging station infrastructure, propelling the growth of the market.
Europe Electric Bus Charging Station Market Analysis and Forecast to 2025
The European electric bus charging station market is projected to reach USD 581.9 million by 2024, registering a CAGR of 17.4% during the forecast period. Supporting government initiatives and schemes, and growing investment towards charging station infrastructure, propelling the growth of the market.
