Research Nester published a report titled “Wireless Car Charging Market: GlobalDemand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global wireless car charging market in terms of market segmentation by vehicle type, power supply, charging type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The wireless car charging market is estimated to occupy a sizeable amount of revenue by growing at a notable CAGR during the forecast period, i.e., 2021 – 2029, on the back of rising sales of electric vehicles, stringent norms and protocols associated with emissions and growing investments in developing efficient wireless charging technology. Furthermore, shifting focus to build charging stations in shopping centers and commercial buildings is estimated to boost, the demand for these products in the near future.
The market is segmented by vehicle type, power supply, charging type and application. On the basis of vehicle type, the segment for battery electric vehicles (BEV) is predicted to garner the largest share in the market, which can be accounted to the wide adoption of these automobiles, and the growing emphasis of key players to improve the process of car charging for battery vehicles.
Geographically, the market is segmented into five major regions, including, North America, Europe, Latin America, Asia Pacific and the Middle East & Africa. The market in Europe is anticipated to witness the highest growth rate during the forecast period owing to the surge in number of electric vehicle purchase, strong presence of leading automobile industry conglomerates and a well-developed infrastructure in the region. It was calculated that around 1.5 million electric vehicles were registered in Europe in the year 2020.
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Increasing Sales of Electric Cars to Drive Market Growth
The total number of electric cars purchased in the world were recorded to be more than 2 million in the year 2019. This has led automobile manufacturers to increase their expenditure on the research and development of innovative technologies for electric vehicles, which in turn is estimated to fuel the demand for these automotive. Additionally, as a result the need for wireless charging is also projected to increase in the coming years.
However, expensive technology integration and slow charging speed of wireless car charging are expected to operate as key restraints to the growth of the wireless car charging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global wireless car charging market which includes company profiling of Continental AG (ETR: CON), Robert Bosch GmbH (NSE: BOSCHLTD), Qualcomm Technologies, Inc. (NASDAQ: QCOM), WiTricity Corporation., HELLA GmbH & Co. KGaA (ETR: HLE), PLUGLESS POWER INC., HEVO Inc., Momentum Wireless Power, EFACEC Power Solutions, SGPS, S.A., Energizer Brands, LLC (NYSE: ENR), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the wireless car charging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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