The global wireless car charging market is estimated to reach a market valuation of US$ 3,147 Mn by 2025 end, up from US$ 194 Mn in 2017. This is reflective of a CAGR of 41.7% in terms of value during the forecast period.
A new report by Persistence Market Research presents some interesting facts and statistics on the global wireless car charging market for an eight year forecast period 2017 – 2025. The report titled “Wireless Car Charging Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)” is a comprehensive take on the global wireless car charging market and provides detailed information on the various factors impacting the market along with an analysis of some of the top companies dominating this market.
Global Wireless Car Charging Market: Forecast by Base Station
The global wireless car charging market is segmented on the basis of base station into Static and Dynamic. The Static segment is anticipated to remain dominant throughout the forecast period, with a market share of about 70% anticipated by 2025 end.
However, this is a drop of 1020 basis points over 2017, which is estimated to record about 80% market share in this segment. The Static segment is estimated to reach a market valuation of US$ 2,214.8 Mn by 2025 end, witnessing a CAGR of 39.3%.
However, the Dynamic segment will register the highest CAGR of 49.4% in terms of value.
Global Wireless Car Charging Market: Forecast by Type of Car
The global wireless car charging market is segmented on the basis of type of car into Electric and Hybrid. The Electric segment is the largest segment with a projected market share of more than 70% by the end of 2025.
This is the most attractive segment in the global wireless car charging market and is expected to witness steady growth in terms of revenue throughout the forecast period.
Global Wireless Car Charging Market: Forecast by Technology
The global wireless car charging market is segmented on the basis of technology into Inductive Charging and Hybrid-Inductive Resonance. Inductive Charging is the largest segment, expected to hold about 72% market share by the end of 2025.
At a 40.0% CAGR in terms of value, this segment is likely to remain dominant in the global wireless car charging market during the forecast period.
Global Wireless Car Charging Market: Regional Analysis
The global wireless car charging market is segmented into the key geographies of Americas, EMEA, and Asia Pacific. Asia Pacific is the dominant regional market with a projected market share of more than 50% by the end of the forecast period in 2025.
APAC is also the most attractive regional market in the global wireless car charging market, with high Y-o-Y growth rates anticipated to be registered during the forecast period.
Global Wireless Car Charging Market: Key Takeaways
- The governments of various countries are taking several initiatives to help promote the adoption of wireless car charging in their respective countries
- A strategic shift to electric vehicles is one promising energy transformation in the coming future, where wireless charging systems is the need of the day
- Substantial decrease in pollution will help in increased adoption of electric vehicles significantly
- Increasing extreme weather events can impact wireless charging systems by decreasing their battery efficiencies
- Increasing theft concerns will also have a significant effect on the adoption of wireless charging infrastructure
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Global Wireless Car Charging Market: Key Players
The report profiles some of the leading companies operating in the global wireless car charging market such as Qualcomm Technologies, Inc., Evatran, LLC (Plugless Power), WiTricity Corporation, Momentum Dynamics Corp., Toshiba Corporation, Mojo Mobility, Inc., HEVO, Inc., Bombardier Inc., TDK Corporation, Denso Corporation, and ZTE Corporation.
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