Automotive Inductive Wireless Charging Systems Market to Witness a CAGR of 106% Through 2022 | Technavio
LONDON--(BUSINESS WIRE)--May 7, 2018--Technavio’s latest market research report on the provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global automotive inductive wireless charging systems market from 2018-2022. (Graphic: Business Wire)
According to Technavio analysts, the global automotive inductive wireless charging systems market will post a CAGR of over 106% during the forecast period. However, the growth momentum of the market will decelerate owing to a drop in the year-over-year growth.
The increasing demand for HEVs and EVs is a major factor driving the market’s growth. HEVs and EVs are mainly powered by batteries and the rising demand for electric vehicles augurs well for the growth of the automotive inductive wireless charging systems market.
In this report, Technavio highlights the on-road dynamic wireless charging systems as one of the key emerging trends in the global automotive inductive wireless charging systems market:
On-road dynamic wireless charging systems
The currently available automotive inductive wireless charging systems are stationary as the charging pads are installed in parking spots. Technavio anticipates that semi-dynamic and dynamic wireless charging systems will be made available during the forecast period. With these systems, PEVs can be charged while moving on the road or on the roadside as charging primary coils are embedded in the roads. The concept of embedding charging pads under roads and powering PEVs while in motion was first developed by researchers at Stanford University. Embedded charging pads are used to power electric public buses in South Korea. KAIST developed OLEV, a public transport system that can be recharged while on the move. The coils are embedded in the road, and a pickup coil is placed under the electric bus. This allows the use of batteries with 40% less capacity, thereby, reducing the battery weight by 6%.
According to a senior analyst at Technavio for research , “Qualcomm Technologies, has also started developing prototypes for wireless charging systems embedded roadways of the future. This will help to achieve a limitless range as the vehicle gets charged while moving and there is no need for separate time to stop and charge. This will aid in the adoption of EVs globally.”
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Global automotive inductive wireless charging systems market segmentation
This market research report segments the by application (residential charging systems and public charging systems), and key regions (the Americas, APAC, and EMEA).
Based on application, the residential charging systems dominated the automotive inductive wireless charging systems market, with over 99% of the market share in 2017. However, the market share of this segment is expected to decrease by close to 1% by 2022.
In 2017, APAC led the market, accounting for a share of close to 48%, followed by the Americas and EMEA. The market share of APAC is expected to witness an increase of close to 2% by 2022, while the other two regions will decline.
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