wireless Electric vehicle(EV)

Posted March 29, 2021 by ketakipastapure

Wireless Electric Vehicle (EV) Charging Systems Market to Reach$827.03 Million by 2027 at a CAGR of 53.1%

Wireless Electric Vehicle (EV) Charging Systems Market to Reach$827.03 Million by 2027 at a CAGR of 53.1%
Wireless Electric Vehicle charging systems use inductive power transfer technology to transfer power over the air from a pad embedded in the ground to a pad attached to the underbelly of an electric vehicle to charge the vehicle's battery. These pads are either installed in the parking spaces of commercial infrastructures and private garages for charging one vehicle at a time or along a stretch of road for charging multiple vehicles while they are on the move. Wireless EV charging systems can potentially help avoid plug-in problems usually faced with wired EV charging systems.
“Electric Vehicles Market by Vehicle Type (Passenger Vehicles, LCVs, HCVs, Two-wheelers, e-Scooters & Bikes), Propulsion Type (BEV, FCEV, PHEV, HEV), End Use (Private, Commercial, Industrial), Power Output, Charging Standard, and Geography.”
the wireless electric vehicle (EV) charging systems market is expected to grow at a CAGR of 53.1% from2020 to 2027 to reach $827.03 million by 2027.
The successful convergence of new technologies will require electric vehicles (EVs) that are low cost and fully autonomous. These attributes can be realized through wireless charging.
Supportive government policies and regulations to drive the demand for electric vehicles
Governments worldwide are increasingly investing in electric mobility. The increasing government regulations to phase out fossil fuel-powered vehicles, government investments for improving public EV charging infrastructure, and initiatives in the form of subsidies & tax rebates for adopting EVs are expected to support this market growth. Governments are investing in charging infrastructures either through direct investments for public charging stations or by providing subsidies for private charging stations at homes and workplaces.

In 2020, China announced subsidies amounting to USD 1.4 billion for installing charging stations. In the same year, to boost the EV demand, the German government announced all its fuel filling stations to set up electric car charging stations. The chargers are installed under its economic recovery plan with approximately USD 154.9 billion (EUR 130 billion) to help remove refueling concerns and boost consumer demand.
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Based on technology, the wireless electric vehicle (EV) charging systems market is segmented into resonant inductive wireless EV charging systems, permanent magnet gear wireless EV charging systems, capacitive wireless EV charging systems, and inductive wireless EV charging systems. The resonant inductive wireless EV charging systems segment accounted for the largest share of the wireless electric vehicle (EV) charging systems market in 2020. The large share of this segment is attributed to the rising sales of electric vehicles, the increasing implementation of pilot projects for resonant inductive power transfer technology, and the leading automotive OEMs’ growing integration of resonant inductive power transfer technology into their vehicles. Additionally, these systems do not have drawbacks related to close coupling and alignment of coils required to transmit power between the primary and secondary coil, which are present in other wireless power transfer technologies. Such benefits of resonant inductive wireless EV charging systems over other charging systems are expected to support the demand for this segment over the coming years.
BEV is expected to be the largest market, by propulsion, during the forecast period
The BEV segment is expected to hold the largest share in the wireless charging for electric vehicle market, by propulsion type, during the forecast period. 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. OEMs are focusing on BEVs due to stringent government regulations to curb rising emission. Increasing BEV sales and government support are expected to drive the overall market.
Electric vehicle wireless charging is one of the most efficient, convenient and easy-to-use charging technology for charging electric vehicles. This is a power feature that makes the electric vehicle more convenient and more futuristic without need for plug-in cables or adaptors. Wireless power transfer (WPT) using magnetic resonance is a rapidly developing technology that can overcome the issue of wiring process while charging the vehicle and in addition, the kilowatts power level (WPT) enables to increase the transfer distance from several millimeters to several hundred millimeters with a grid to load efficiency above 90%.
The Impact of COVID-19 on the Wireless Electric Vehicle (EV) Charging Systems Market
In 2019, the global count of electric vehicles on the road (OTR) had crossed 2 million. However, the COVID-19 crisis led to disruptions in supply chains, limitations on operations and workforce, and factory closures globally. The economic slowdown caused a severe decline in vehicle sales, especially in the electric vehicles segment. The demand for electric vehicle charging infrastructure has been impacted significantly. Major investments for deploying EV charging infrastructure have halted since most EVSE (Electric Vehicle Supply Equipment) manufacturers worldwide have been affected due to government restrictions and nationwide lockdowns. For instance, in the U.K., ubitricity and Pod Point halted the construction of new charging stations for the second phase of the Go Ultra Low City Scheme. Similarly, Rolec Services announced temporarily suspending the manufacture of EV charging stations in the U.K. due to COVID-19 restrictions.
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Key Players:
The report includes a competitive landscape based on an extensive assessment of the key strategies adopted by the leading market participants in the wireless electric vehicle (EV) charging systems market over the last four years (2017–2020). The key players profiled in the wireless electric vehicle (EV) charging systems market are WiTricity Corporation (U.S.), Plugless Power Inc. (U.S.), Momentum Wireless Power (U.S.), Groupe Delachaux (France), ELIX Wireless (North America), Mojo Mobility, Inc. (U.S.), HEVO Inc. (U.S.), TGood Global Ltd. (Hong Kong), Continental AG (Germany), Toshiba Corporation (Japan), ZTE Corporation (China), INTIS GmbH (Germany), WAVE Inc. (U.S.), Daihen Corporation (Japan), and Electreon Inc. (Israel).
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Scope of the report:
the wireless charging for electric vehicle market on the basis of charging station, charging type, installation, propulsion, component, vehicle, power supply, and region.
Charging station:
• Public /Commercial Charging Station
• Home Charging Unit
• Base Charging Pad
• Power Control Unit
• Vehicle Charging Pad
charging type:
• Dynamic Wireless Charging System
• Stationary Wireless Charging System
vehicle type:
• Commercial Vehicle
• Passenger Car
power supply range:
• 3–50 kW
charging system:
• Magnetic Power Transfer
• Capacitive Power Transfer
Electric Vehicles Market, by Geography:
 Asia-Pacific (APAC)

o China
o South Korea
o Japan
o India
o Australia
o Singapore
o Rest of Asia-Pacific (RoAPAC)
 Europe

o Germany
o Sweden
o U.K.
o France
o Norway
o Italy
o Spain
o Switzerland
o Netherlands
o Denmark
o Portugal
o Rest of Europe (RoE)
 North America
• U.S.
• Canada
 Rest of the World
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America (RoLATAM)
• Middle East & Africa
o UAE (United Arab Emirates)
o Israel
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa (RoMEA)
• Key Questions Answered in the Report-
• Which are the high growth market segments in terms of vehicle type, propulsion type, power output, end use, and geography?
• What is the historical market size for the electric vehicles market across the globe?
• What are the market forecasts and estimates for the period 2020-2027?
• What are the major drivers, restraints, opportunities, and challenges in the electric vehicles market?
• Who are the major players in the market, and what are their market shares?
• Who are the major players in various countries, and what are their market shares?
• How is the competitive landscape for the electric vehicles market?
• What are the recent developments in the electric vehicles market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the electric vehicles market, and how do they compete with other players?
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Categories Accounting , Marketing , Wireless
Last Updated March 29, 2021