Wireless Electric Vehicle Charging Market: Projected Growth And Opportunities In 2025

MANHATTAN, N.Y. - May 29, 2023 - PRLog -- According to a report by TechSci Research titled "Global Wireless Electric Vehicle Charging Market By Charging Type, Power Supply Range, Charging System, Vehicle Type, Region, Competition, Forecast & Opportunities, 2025," the wireless electric vehicle charging market is expected to experience significant growth during the forecast period. This growth can be attributed to advancements in technology and strict regulations related to vehicle emissions, which are driving the adoption of electric vehicles worldwide and consequently fueling the wireless electric vehicle charging market. Moreover, governments in various countries are providing incentives to promote the electric vehicle market. The increasing number of electric vehicles on the road will lead to a greater deployment of electric vehicle wireless charging stations globally. However, the high initial cost of charging stations and investment in research and development may hinder market growth.

The global wireless electric vehicle charging market can be segmented based on charging type, power supply range, charging system, vehicle type, region, and company. Among these segments, passenger cars currently dominate the market and are projected to continue growing at a double-digit compound annual growth rate in the coming years. This is due to the early introduction of electric vehicle technology in passenger cars and the subsequent high sales in this segment. However, the sales outlook for commercial vehicles is also promising, as state and central governments are incorporating electric bus fleets into their transportation systems to reduce greenhouse gas emissions.

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Leading players in the global wireless electric vehicle charging market include HEVO Inc., Daimler AG, Qualcomm Technologies, Witricity Corporation, Mojo Mobility, Hella Kgaa Hueck & Co., ZTE Corporation, Integrated Device Technology, Inc., Hella Kgaa Hueck & Co., and Toyota Motor Corporation. These automotive players are implementing organic growth strategies, such as investing in research and development, to introduce cost-effective charging solutions and maintain their market leadership.

"Europe is expected to be at the forefront of the global wireless electric vehicle charging market, thanks to the early adoption of wireless electric vehicle infrastructure in countries like Germany and the presence of leading automotive players in the region," stated Mr. Karan Chechi, Research Director at TechSci Research, a global management consulting firm focused on research. "Additionally, the high sales of electric vehicles and the availability of vehicle charging infrastructure are projected to drive the European wireless electric vehicle charging market until 2025."

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