Portland, OR, May 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global wireless electric vehicle charging market was accounted for $6.85 million in 2020, and is estimated to reach $207.41 million by 2030, growing at a CAGR of 41.4% from 2021 to 2030.
Rise in sales of electric vehicles in European countries and surge in demand for wireless electric vehicles charging solutions have boosted the growth of the global wireless EV charging market. However, expensive integration and high upfront cost of wireless electric vehicle charging hinder the market growth. On the contrary, rise in demand for high power contactless inductive charging would open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the automotive sector due to prolonged lockdown and reduced investment in developing electric vehicle charging infrastructure.
- Covid-19 pandemic resulted in fall in business confidence and disruption of supply chain. Thus, stakeholders and OEMs had to adopt innovative business models amidst the pandemic.
The report divides the global wireless electric vehicle charging market on the basis of vehicle type, distribution channel, charging method, installation, power source, and region.
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Based on vehicle type, the CEV segment held the largest share in 2020, accounting for nearly two-fifths of the market. However, the BEV segment is projected to manifest the highest CAGR of 43.0% during the forecast period.
On the basis of distribution channel, the aftermarket segment held the lion’s share in 2020, contributing to more than three-fifths of the market. However, the OEMS segment is estimated to portray the highest CAGR of 42.2% from 2021 to 2030.
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The report offers an analysis of the market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the lion’s share in 2020, accounting for more than half of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 42.6% during the forecast period.
The global wireless electric vehicle charging market report includes an in-depth analysis of the prime market players such as Continental ag, IPT technology inc., Nidec mobility corporation, Evatran group (plugless), Powermat technologies, Renesas electronics, Robert Bosch Gmbh, Qualcomm technologies, Toyota motor corporation, and Witricity.
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