Wireless Electric Vehicle (EV) Charging Market Size, Share, Growth Analysis, By Charging Type(Stationary Wireless Charging Systems, Dynamic Wireless Charging Systems), By Component(Base Charging Pads, Power Control Units, Vehicle Charging Pads), By Application(Home Charging Units, Commercial Charging Stations), By Charging System(Magnetic Resonance Charging, Inductive Charging, Capacitive Charging), By Vehicle Type(Passenger Cars, Commercial Vehicles [Electric Buses, Electric Vans, Electric Pick-up Trucks), By Propulsion(Battery Electric Vehicles, Plug-in hybrid Electric Vehicles), By Region - Industry Forecast 2024-2031


Report ID: SQMIG55F2029 | Region: Global | Published Date: September, 2024
Pages: 182 |Tables: 59 |Figures: 77

Wireless Electric Vehicle (EV) Charging Market Insights

Global Wireless Electric Vehicle Charging Market size was valued at USD 16.5 Million in 2022 and is poised to grow from USD 25.5 Million in 2023 to USD 995.8 Million by 2031, at a CAGR of 55.5% during the forecast period (2024-2031).

Global demand for wireless charging systems is rising because of the release of ground pads and smart charging mats made exclusively for electric vehicles. The global wireless electric vehicle charging market is anticipated to experience growth over the forecast period because of rising EV sales, ongoing improvements in portable gadgets and wearables, and the frequent requirement for harvesting ambient RF energy. The slow charging relative to alternative charging technologies and significant integration costs, however, restrict market expansion. Governments all around the world have launched a variety of programmes and initiatives to persuade consumers to select electric vehicles over conventional ones. One such programme that encourages the purchase of electric vehicles is the California ZEV programme, which intends to have 1.5 million electric vehicles on the road by 2025. Other nations offer a variety of incentives to residents who want to purchase electric vehicles. The market for wireless electric vehicle (EV) charging does, however, have some restrictions that could hinder its potential growth. For example, upgrading to wireless charging technology is expensive, while minimising efficiency loss and investing heavily in dynamic charging infrastructure could pose growth barriers. The market for wireless electric vehicle (EV) charging will also have several prospects for expansion during the projected period of due to the government's increasing support for wireless charging. 

Market snapshot - 2024-2031

Global Market Size

USD 19.68 Million

Largest Segment

Residential

Fastest Growth

Residential

Growth Rate

37.21% CAGR

Global Wireless Electric Vehicle Charging Market ($ Mn)
Country Share for Acia Pacific Region (%)

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Wireless Electric Vehicle (EV) Charging Market Segmental Analysis

Global Wireless Electric Vehicle Charging Market is segmented based on Charging Type, Component, Charging Systems, Power Supply Range, Vehicle Type, Propulsion, Application and Region. Based on Charging Type, the market is segmented into Stationary Wireless Charging Systems, Dynamic Wireless Charging Systems. Based on Component, the market is segmented into Base Charging Pads, Power Control Units, Vehicle Charging Pads. Based on Charging Systems, the market is segmented into Magnetic Resonance Charging, Inductive Charging, Capacitive Charging. Based on Power Supply Range, the market is segmented into, Up To 11 KW, Between 11 -50 KW, Above 50 KW. Based on Vehicle Type, the market is segmented into Passenger Cars, and Commercial Vehicles. Based on Propulsion, the market is segmented into Battery Electric Vehicles, and Plug-in Hybrid Electric Vehicles. Based on Application, the market is segmented into Home Charging Units, Commercial Charging Stations. Based on Region, the market is segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.

Analysis by Charging Type 

The segment includes the Stationary Wireless Charging Systems, and Dynamic Wireless Charging Systems. Stationary Wireless Charging Systems with Automation and High-Power Delivery, this sub-segment explores the integration of automation mechanisms with stationary charging pads. This could involve self-parking cars equipped with machine vision or sensor technology that enables them to precisely align over charging pads for efficient power transfer. Additionally, the research investigates advancements in magnetic resonance technology as a potential pathway to surpassing the charging speeds achievable with current inductive charging methods. Faster charging times are crucial for enhancing the user experience and overall competitiveness of electric vehicles. 

Dynamic Wireless Charging Systems, this sub-segment focuses on dynamic wireless charging, a nascent technology with the potential to revolutionize electric mobility. The research examines the feasibility and development of systems that can wirelessly charge electric vehicles (buses, trucks, etc.) as they travel along specially equipped roadways. Eliminating the need for designated charging stations and extending the driving range of EVs through continuous charging are key objectives in this area. Companies like Electron serve as case studies for ongoing trials of in-road charging technology, paving the way for a future where electric vehicles can operate over long distances without range anxiety. 

Analysis by Distribution Application 

The segment includes, Home Charging Units, and Commercial Charging Systems.  Research is exploring the integration of wireless home charging units with smart home systems, enabling intelligent charging schedules and optimized energy usage. This could involve leveraging off-peak electricity rates for cost-effective charging while minimizing grid strain during peak hours. Additionally, advancements in bidirectional charging technology could allow EVs to not only be charged but also act as energy storage units, feeding power back to the grid during high demand periods. 

Commercial Charging Systems: Exploring Fleet Management and Public Infrastructure Applications: Research in this segment delves into the application of wireless charging for commercial electric vehicle fleets. This could involve optimizing charging schedules and monitoring energy consumption for improved fleet efficiency. Additionally, the feasibility of integrating wireless charging into existing public transportation infrastructure is being investigated. Imagine dedicated wireless charging lanes for electric buses, eliminating the need for lengthy depot charging times and potentially increasing service frequency. This research paves the way for a future with seamless and efficient electric public transportation systems. 

Global Wireless Electric Vehicle Charging Market By Charging Type

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Wireless Electric Vehicle (EV) Charging Market Regional Insights

According to accounting, Europe contributed the most to global revenue and is predicted to expand at a CAGR of 35.9%. The UK, Germany, France, Italy, and the rest of Europe are included in the analysis of the Europe market. Due to technological developments in wireless charging devices across the area, Europe is predicted to experience a significant growth rate during the projection period. The demand for fuel-efficient and long-lasting charging solutions for electronic devices like power tools and portable gadgets has increased, which has accelerated development in the Europe 's electronics sector.

The second-largest region is Asia-Pacific. By 2030, it is anticipated to reach an expected value of USD 55 million, showing a 38% CAGR. Due to the sharp increase in the number of electric vehicles in nations like China and Japan, Asia-Pacific has a great potential for growth. The expansion of the EV chargers’ market in this area is anticipated to be aided by a number of government initiatives to build electric vehicle charging infrastructure. For instance, the Automotive Research Association of India (ARAI) intended to install more than 200 EV charging stations throughout the country. It is projected that the sum of all these variables will greatly fuel market expansion.

Global Wireless Electric Vehicle Charging Market By Region
  • Largest
  • Fastest

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Wireless Electric Vehicle (EV) Charging Market Dynamics

Wireless Electric Vehicle Charging Market Drivers

More electric vehicle (EV) sales

  • Due to its many advantages, such as their lower fuel (petrol, diesel, and gas) consumption and lower exhaust emissions, EV demand has significantly expanded globally. The demand for wireless charging for electric or plug-in hybrid vehicles is therefore expected to rise during the projected period. Important players in the wireless electric vehicle market are also putting various strategic plans into practice to boost their economic potential, including product development and collaboration. In addition, a lot of EV manufacturers incorporate wireless charging technology into their devices. The charging system of the vehicle is connected to this device across a distance of eight centimeters using a magnetic field, which can be mounted outside or in a garage.

Elimination of Physical Infrastructure

  • Wireless charging reduces the need for physical charging infrastructure, such as charging stations and cables. This advantage makes it easier to integrate charging capabilities into existing infrastructure like parking lots, roads, and even homes. It helps overcome challenges related to limited charging infrastructure availability, especially in densely populated areas or regions with limited space.

Wireless Electric Vehicle Charging Market Restraints

Limited Range and Positioning Constraints

  • Wireless charging systems typically require close proximity and precise alignment between the charging pad and the vehicle's receiver to ensure efficient power transfer. This limitation can be challenging in real-world scenarios, as slight misalignments or variations in parking positions may affect charging efficiency. Overcoming these range and positioning constraints is essential for enhancing the practicality and convenience of wireless charging.

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Wireless Electric Vehicle (EV) Charging Market Competitive Landscape

Details about each company are provided in the wireless electric vehicle (EV) charging market competitive landscape. Included information includes a description of the business, financials, revenue, market potential, investments in R&D, new market initiatives, geographical presence, corporate strengths and weaknesses, product launch, and application domination. The information above only relates to the companies' market focus on wireless electric vehicle (EV) charging. 

Wireless Electric Vehicle Charging Market Top Player’s Company Profiles

  • WiTricity Corporation (US) 
  • InductEV, Inc. (US) 
  • Hevo Inc. (US) 
  • Electreon (Israel) 
  • Plugless Power Inc. (US) 
  • Wave Charging (US) 
  • Intis Integrated Infrastructure Solutions GmbH (Germany) 
  • ENRX (Norway) 
  • Mojo Mobility Inc. (US) 
  • Shenzhen VMAX New Energy Co., Ltd. (China) 
  • Integrated Roadways LLC (US) 
  • WiFeRion (Germany) 
  • WiPowerOne Inc. (US) 
  • Continental AG (Germany) 
  • TGOOD Global Ltd. (China) 
  • Elix Wireless Inc. (US) 
  • Fortum (Finland) 
  • Daihen Corporation (Japan) 
  • Zhejiang Vie Science & Technology Co., Ltd. (China) 
  • Suzhou Anjie Technology Co., Ltd. (China) 
  • Volkswagen AG (Germany) 
  • Toyota Motor Corporation (Japan) 
  • Tesla, Inc. (US) 
  • Honda Motor Co., Ltd. (Japan) 
  • Mercedes-Benz AG (Germany) 
  • BMW Group (Germany) 

Wireless Electric Vehicle Charging Market Recent Developments

  • In May 2024, bidirectional charging technology gained traction, with the potential for EVs to act as mobile energy storage units, feeding power back into the grid during peak demand. 
  • In March 2023, WiTricity announced that it had received a $100 million investment from Koch Strategic Platforms. The investment will be used to accelerate the development and commercialization of WiTricity's wireless charging technology. 
  • In February 2023, Momentum Dynamics announced that it had received a USD 100 million investment from Shell Ventures. The investment will be used to accelerate the commercialization of Momentum Dynamics' wireless charging technology. 
  • In January 2023, Electrify America announced that it would install 1,800 wireless charging stations at its charging stations across the United States. The installation of these stations will make Electrify America the largest wireless charging network in the United States. 

Wireless Electric Vehicle (EV) Charging Key Market Trends

  • Wireless EV charging is being integrated with smart grid technologies, enabling bidirectional power flow and vehicle-to-grid (V2G) capabilities. This integration allows EVs to not only receive power but also feed surplus energy back into the grid when needed, contributing to grid stability and energy management.
  • The companies are focusing on product launches and development to tap the major market share in the near future is another key trend witnessed in the global market that is expected to support growth of the global market during the forecast period. For instance, in October 2021, WiTricity announced its BEV related patented charging technology in South Korea.

Wireless Electric Vehicle (EV) Charging Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research. 

According to our analyses, the market for wireless EV charging has been steadily growing, driven by the increasing adoption of electric vehicles worldwide. As governments and consumers embrace sustainable transportation, the demand for efficient and convenient charging solutions has risen. While the market is still in its early stages, it is expected to expand as wireless charging technology improves and becomes more widely available. Wireless EV charging offers several advantages and benefits compared to traditional plug-in charging. It provides convenience and a seamless user experience by eliminating the need for physical cables and connectors. Wireless charging also simplifies the charging process, especially for public and shared EVs, where automated charging without human intervention becomes feasible. Additionally, wireless charging can be integrated into existing infrastructure, such as parking lots and roads, reducing the need for dedicated charging stations. 

Report Metric Details
Market size value in 2022 USD 16.5 Million
Market size value in 2031 USD 995.8 Million
Growth Rate 55.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Million
Segments covered
  • Charging Type
    • Stationary Wireless Charging Systems, Dynamic Wireless Charging Systems
  • Component
    • Base Charging Pads, Power Control Units, Vehicle Charging Pads
  • Application
    • Home Charging Units, Commercial Charging Stations
  • Charging System
    • Magnetic Resonance Charging, Inductive Charging, Capacitive Charging
  • Power Supply Range
    • Up To 11 KW, Between 11 -50 KW, Above 50 KW
  • Vehicle Type
    • Passenger Cars, Commercial Vehicles
  • Propulsion
    • Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • WiTricity Corporation (US) 
  • InductEV, Inc. (US) 
  • Hevo Inc. (US) 
  • Electreon (Israel) 
  • Plugless Power Inc. (US) 
  • Wave Charging (US) 
  • Intis Integrated Infrastructure Solutions GmbH (Germany) 
  • ENRX (Norway) 
  • Mojo Mobility Inc. (US) 
  • Shenzhen VMAX New Energy Co., Ltd. (China) 
  • Integrated Roadways LLC (US) 
  • WiFeRion (Germany) 
  • WiPowerOne Inc. (US) 
  • Continental AG (Germany) 
  • TGOOD Global Ltd. (China) 
  • Elix Wireless Inc. (US) 
  • Fortum (Finland) 
  • Daihen Corporation (Japan) 
  • Zhejiang Vie Science & Technology Co., Ltd. (China) 
  • Suzhou Anjie Technology Co., Ltd. (China) 
  • Volkswagen AG (Germany) 
  • Toyota Motor Corporation (Japan) 
  • Tesla, Inc. (US) 
  • Honda Motor Co., Ltd. (Japan) 
  • Mercedes-Benz AG (Germany) 
  • BMW Group (Germany) 
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Wireless Electric Vehicle (EV) Charging Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Wireless Electric Vehicle (EV) Charging Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Wireless Electric Vehicle (EV) Charging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Wireless Electric Vehicle (EV) Charging Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Wireless Electric Vehicle (EV) Charging Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Wireless Electric Vehicle (EV) Charging Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Wireless Electric Vehicle Charging Market size was valued at USD 16.5 Million in 2022 and is poised to grow from USD 25.5 Million in 2023 to USD 995.8 Million by 2031, at a CAGR of 55.5% during the forecast period (2024-2031).

Details about each company are provided in the wireless electric vehicle (EV) charging market competitive landscape. Included information includes a description of the business, financials, revenue, market potential, investments in R&D, new market initiatives, geographical presence, corporate strengths and weaknesses, product launch, and application domination. The information above only relates to the companies' market focus on wireless electric vehicle (EV) charging.  'WiTricity Corporation (US) ', 'InductEV, Inc. (US) ', 'Hevo Inc. (US) ', 'Electreon (Israel) ', 'Plugless Power Inc. (US) ', 'Wave Charging (US) ', 'Intis Integrated Infrastructure Solutions GmbH (Germany) ', 'ENRX (Norway) ', 'Mojo Mobility Inc. (US) ', 'Shenzhen VMAX New Energy Co., Ltd. (China) ', 'Integrated Roadways LLC (US) ', 'WiFeRion (Germany) ', 'WiPowerOne Inc. (US) ', 'Continental AG (Germany) ', 'TGOOD Global Ltd. (China) ', 'Elix Wireless Inc. (US) ', 'Fortum (Finland) ', 'Daihen Corporation (Japan) ', 'Zhejiang Vie Science & Technology Co., Ltd. (China) ', 'Suzhou Anjie Technology Co., Ltd. (China) ', 'Volkswagen AG (Germany) ', 'Toyota Motor Corporation (Japan) ', 'Tesla, Inc. (US) ', 'Honda Motor Co., Ltd. (Japan) ', 'Mercedes-Benz AG (Germany) ', 'BMW Group (Germany) '

Due to its many advantages, such as their lower fuel (petrol, diesel, and gas) consumption and lower exhaust emissions, EV demand has significantly expanded globally. The demand for wireless charging for electric or plug-in hybrid vehicles is therefore expected to rise during the projected period. Important players in the wireless electric vehicle market are also putting various strategic plans into practice to boost their economic potential, including product development and collaboration. In addition, a lot of EV manufacturers incorporate wireless charging technology into their devices. The charging system of the vehicle is connected to this device across a distance of eight centimeters using a magnetic field, which can be mounted outside or in a garage.

Wireless EV charging is being integrated with smart grid technologies, enabling bidirectional power flow and vehicle-to-grid (V2G) capabilities. This integration allows EVs to not only receive power but also feed surplus energy back into the grid when needed, contributing to grid stability and energy management.

According to accounting, Europe contributed the most to global revenue and is predicted to expand at a CAGR of 35.9%. The UK, Germany, France, Italy, and the rest of Europe are included in the analysis of the Europe market. Due to technological developments in wireless charging devices across the area, Europe is predicted to experience a significant growth rate during the projection period. The demand for fuel-efficient and long-lasting charging solutions for electronic devices like power tools and portable gadgets has increased, which has accelerated development in the Europe 's electronics sector.

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Wireless Electric Vehicle (EV) Charging Market

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