Global Wireless Charging for Electric Vehicle Market is Projected to Grow at a CAGR of 46.8% to USD 234 Million by 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 14, 2020--
The “Wireless Charging for Electric Vehicle Market by Power Supply (3-<11, 11-50, & >50 KW), Application (Home & Commercial), Distribution channel (Aftermarket & OE), Component, Charging System, Propulsion, Vehicle type, & Region - Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
Increasing focus on R&D activities, rapid development of EV technology, and the ease of charging vehicles are expected to fuel the demand in wireless charging for electric vehicle market.
The rising demand for BEVs and PHEVs is expected to fuel the overall growth of the wireless charging for electric vehicle market. Increasing R&D investments by manufacturers of wireless charging systems and the growing number of partnerships and joint ventures between major OEMs and domestic players have created growth opportunities in the wireless charging for electric vehicle market. However, the high cost of upgrading to wireless charging technology may restrain the growth of the market. The transmission range of a wireless charger through electromagnetic induction and/or magnetic resonance is limited to a certain distance. This limitation of range poses a serious challenge for manufacturers, especially in the case of LCVs and SUVs with high ground clearance.
>50 KW segment is expected to grow at a significant rate during the forecast period, by power supply range.
The >50 kW segment of the wireless charging for electric vehicle market is projected to grow at the highest CAGR during the forecast period. Various incentives are provided for the development of commercial electric vehicles. Moreover, the >50 kW segment focuses on dynamic charging, which is a new and upcoming technology and has not yet commercialized. Thus, the development of dynamic charging is likely to fuel the >50 kW segment in the wireless charging for electric vehicle market.
Home Charging Station is estimated to be the largest segment of wireless charging for electric vehicle market, by charging station type.
The rising demand for BEVs and PHEVs has fueled the growth of the wireless charging for electric vehicle market. Growing environmental concerns, rising fossil fuel prices, long-term supply concerns, and improved technology have accelerated the growth of the BEV and PHEV technology. Many OEMs are now offering BEVs and PHEVs equipped with wireless power transfer technology. For instance, the new Toyota Prius, a PHEV by Toyota, is equipped with a new wireless charging system developed by WiTricity Corporation. These developments are expected to drive the home charging station segment.
Europe is estimated to be the fastest growing region in the wireless charging for electric vehicle market during the forecast period.
The availability of sound infrastructure and increasing electric vehicle sales in the region are expected to drive the wireless charging for electric vehicle market in Europe. The adoption of wireless charging technology by automotive companies such as BMW is also expected to fuel the market during the forecast period.
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The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.
The report provides insights into the following points:
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Package Size
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.3 Primary Data
2.4 Market Size Estimation
2.5 Market Breakdown and Data Triangulation
2.6 Assumptions & Associated Risks
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
5.3 Wireless Charging for Electric Vehicle Market, Scenarios (2020-2027)
5.3.1 Wireless Charging for Electric Vehicle Market, Most Likely Scenario
5.3.2 Wireless Charging for Electric Vehicle Market, Optimistic Scenario
5.3.3 Wireless Charging for Electric Vehicle Market, Pessimistic Scenario
6 Industry Trends
6.2 Porter’s 5 Forces Analysis
6.3 Value Chain Analysis
6.4 Technological Analysis
7 Wireless Charging for Electric Vehicle Market, By Application
7.2 Operational Data
7.3 Commercial Charging Station
7.4 Home Charging Unit
7.5 Key Industry Insights
8 Wireless Charging for Electric Vehicle Market, By Component
9 Wireless Charging for Electric Vehicle Market, By Charging System
10 Wireless Charging for Electric Vehicle Market, By Charging Type
11 Wireless Charging for Electric Vehicle Market, By Distribution Channel Type
12 Wireless Charging for Electric Vehicle Market, By Power Supply
13 Wireless Charging for Electric Vehicle Market, By Vehicle Type
14 Wireless Charging for Electric Vehicle Market, By Propulsion Type
15 Wireless Charging for Electric Vehicle Market, By Region
15.2 Asia Pacific
15.4 North America
15.5 Rest of the World (RoW)
16 Competitive Landscape
16.2 Market Ranking Analysis
16.3 Competitive Scenario
16.4 Competitive Leadership Mapping
16.5 Adjacent Market Players: Competitive Leadership Mapping
16.6 Winners vs. Tail-Enders
17 Company Profiles
17.1 Witricity Corporation
17.2 Mojo Mobility
17.3 Momentum Dynamics Corporation
17.4 Elix Wireless Inc.
17.6 Continental AG
17.7 Robert Bosch GmbH
17.8 Toshiba Corporation
17.9 Toyota Motor Corporation
17.10 Bombardier Inc.
17.11 Hella Kgaa Hueck & Co.
17.12 ZTE Corporation
17.13 Evatran Group Inc.
17.14 HEVO Inc.
17.15 Tgood Electric Co
17.16 Key Players From Other Regions
17.16.1 North America.
18.104.22.168 Lear Corporation
22.214.171.124 Fortum Corporation
17.16.3 Asia Pacific
126.96.36.199 Mitsubishi Electric
17.16.4 Rest of the World (RoW)
17.17 Adjacent Market Players in Electric Vehicle Charging Solutions
17.17.1 North America
188.8.131.52 Blink Charging
184.108.40.206 Ev Safe Charge
220.127.116.11 Pulse Charge
18.104.22.168 New Motion B.V
22.214.171.124 Wallbox Ok
126.96.36.199 Spark Horizon
188.8.131.52 BP Chargemaster
184.108.40.206 POD Point
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INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 01/14/2020 08:19 AM/DISC: 01/14/2020 08:19 AM