USD 0.5 billion
Report ID:
SQMIG55F2050 |
Region:
Global |
Published Date: January, 2025
Pages:
283
|Tables:
198
|Figures:
80
Wireless Electric Vehicle (EV) Charging Systems Market size was valued at USD 0.5 billion in 2023 and is poised to grow from USD 0.73 billion in 2024 to USD 14.43 billion by 2032, growing at a CAGR of 45.3% during the forecast period (2025-2032).
Inductive power transfer technology is used in wireless EV charging systems to transfer electricity over the air from a pad implanted in the ground to a pad connected to the underbelly of an EV to charge its battery. These pads are either situated in commercial infrastructure and private garage parking places to charge one car at a time, or along a stretch of road to charge numerous vehicles while they are moving. Wireless EV charging systems have various advantages over plug-in EV charging systems, including ease of use, convenience, and convenience. These charging solutions assist to avoid the plug-in issues that are common with wired EV charging systems. Furthermore, these solutions can assist minimise car battery sizes and range anxiety concerns.
Wireless EV charging systems are a promising technology with a high commercialisation potential. The approach has been tested by major automobile manufacturers all around the world. The exorbitant cost of these systems, however, is a major hindrance to industrial progress. Wireless charging raises the price of electric vehicles by around USD 3,000 to USD 4,000, resulting in a very high total cost of ownership. As a result, customers have expressed little to no interest in wireless EV charging solutions. Companies in this market scrambled to raise capital to develop and expand their product offerings, but investors refused since the value proposition of wireless EV charging systems did not appeal to buyers.
US Wireless Electric Vehicle (EV) Charging Systems Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 0.5 billion
Largest Segment
Static Wireless EV Charging Systems
Fastest Growth
Dynamic Wireless EV Charging Systems
Growth Rate
45.3% CAGR
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Global Wireless Electric Vehicle (EV) Charging Systems Market is segmented by Propulsion Type, Charging Type, Component, Vehicle Type, Charging Method, Application and region. Based on Propulsion Type, the market is segmented into Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV) and Commercial EV. Based on Charging Type, the market is segmented into Dynamic Wireless Charging System and Stationary Wireless Charging System. Based on Component, the market is segmented into Base Charging Pad, Power Control Unit, Vehicle Charging Pad and Battery Management Systems. Based on Vehicle Type, the market is segmented into Passenger Vehicles, Passenger Cars, Commercial Vehicle, Light Commercial Vehicles, Heavy Commercial Vehicles, Others and Electric Two-wheelers. Based on Charging Method, the market is segmented into Capacitive Wireless Power Transfer (CWPT), Magnetic Gear Wireless Power Transfer (MGWPT), Resonant Inductive Power Transfer (RIPT) and Inductive Power Transfer (IPT). Based on Application, the market is segmented into Commercial Charging Stations and Home Charging Unit. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
During the projection period, the static wireless EV charging systems sector is expected to develop at the fastest CAGR. The large number of pilot projects undertaken by leading automotive OEMs for integrating static wireless EV chargers in their electric vehicles, as well as the increasing adoption of static wireless EV chargers by leading shared mobility and taxi fleet operators worldwide for fleet charging applications, are factors contributing to the growth of the segment.
Considering a future in which you never have to stop to charge the battery of your own automobile, cab, truck, or bus. Instead, power generated by neighbouring wind and solar resources is wirelessly transmitted to the vehicle while it is in motion from the roadway. Dynamic Wireless EV Charging Systems is expected to grow during the forecasted period. The technology might be used in a variety of applications to aid with the transition to zero-emission mobility. Trucks and buses, for example, may recharge their batteries during long-distance work cycles rather of going to a specified charge station location. It also benefits the electricity grid by charging vehicles during their trips rather than plugging in at high power consumption periods such as early evening when people return home from work.
During the projection period, the commercial wireless EV charging systems sector is expected to grow at the fastest rate. The high growth of the segment can be attributed to the increasing need to develop charging infrastructure in public places, high proliferation of commercial wireless EV charging systems as middle-class and lower-middle-class populations in Europe are increasingly purchasing electric vehicles without having the option to charge them at home, and high demand for commercial wireless EV charging systems in China due to the presence of large commercial garage parking spaces and the availability of large commercial garage parking spaces.
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Global Wireless Electric Vehicle Charging Systems Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
The region's growing reliance on electric vehicles, application of numerous pilot programs for wireless EV charging technology all over Europe, and public programs to test the feasibility of wireless charging technology for electric vehicles have all contributed to the spread of wireless EV charging systems in Europe. Electric mobility stakeholders throughout Europe are launching new initiatives to build a sustainable road transportation infrastructure that can charge electric vehicles while they are in motion, eliminating range anxiety.
Asia Pacific is expected to be one of the most profitable regions in terms of revenue. This increase can be attributed to electric car manufacturers' adoption of high-end technological items and government actions to promote charging infrastructure. Furthermore, advancements in driving technology, increased EV usage, and increased automotive manufacturing are likely to boost product demand in North America.
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To increase their market position, the companies are always focusing on partnerships, acquisitions, new product development and launches, and growth plans. Furthermore, Tesla is a market leader in this sector. The firm provides pure electric vehicles outfitted with cutting-edge technologies such as ADAS, telematics, internet and cloud connectivity, and others. Tesla is expected to maintain its supremacy during the projection period, owing to its increased presence in new regions, growing popularity, and technical improvement.
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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Wireless Electric Vehicle Charging Systems Market analysis, Electric vehicle (EV) charging infrastructure is in great demand. The use of wireless charging technology in an electric automobile raises the vehicle's price. As a result, wireless electric car charging is more expensive. The static wireless EV charging systems market is expected to expand at the fastest CAGR. Consider the potential of never having to stop to charge your own vehicle, cab, truck, or bus battery. Throughout the projected period, the Dynamic Wireless EV Charging Systems segment is expected to grow at a significant CAGR. Commercial wireless EV charging systems are expected to be the most advanced. The region's growing reliance on electric vehicles, as seen by the rollout of different pilot projects for wireless EV charging systems around Europe.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 0.5 billion |
Market size value in 2032 | USD 14.43 billion |
Growth Rate | 45.3% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Wireless Electric Vehicle (EV) Charging Systems 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 Systems 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.
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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 Systems Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Wireless Electric Vehicle (EV) Charging Systems Market size was valued at USD 26.49 Million in 2023 and is poised to grow from USD 37.72 Million in 2024 to USD 908.07 Million by 2032, growing at a CAGR of 42.4% during the forecast period (2025-2032).
To increase their market position, the companies are always focusing on partnerships, acquisitions, new product development and launches, and growth plans. Furthermore, Tesla is a market leader in this sector. The firm provides pure electric vehicles outfitted with cutting-edge technologies such as ADAS, telematics, internet and cloud connectivity, and others. Tesla is expected to maintain its supremacy during the projection period, owing to its increased presence in new regions, growing popularity, and technical improvement. 'Qualcomm Inc.', 'WiTricity Corporation', 'Hella KGaA Hueck & Co.', 'Evatran Group, Inc.', 'Bombardier Inc.', 'Mojo Mobility, Inc.', 'HEVO Inc.', 'Witricity Corporation', 'Continental AG', 'Toyota Motor Corporation', 'TDK Corporation', 'Powermat Technologies Ltd.', 'ChargePoint, Inc.', 'Bosch Automotive Service Solutions Inc.', 'Momentum Dynamics Corporation', 'Plugless Power Inc.', 'IPT Technology GmbH', 'ELIX Wireless Charging Systems Inc.', 'Plugless Power Inc.', 'Tgood Global Ltd.'
Increasing popularity of electric vehicles due to their efficiency and environmental friendliness has fueled the need for fast-charging infrastructure in recent years. Electric cars are projected to be used for both city commuting and long-distance travel. However, most EVs in the market do not have a range of more than 100 miles, necessitating the use of fast-charging technologies to provide smooth, uninterrupted driving. Wireless charging, which may offer up to 11 kilowatts of power equal to level-2 chargers, is a viable answer for the expanding and rapidly changing charging requirements. Many wireless technology firms, including WiTricity Corporation, Momentum Wireless Power, and Wave Inc., are investing heavily in research and development of fast-charging wireless power transmission technologies for electric cars.
In many nations, government assistance and incentives for electric vehicles now include the development of wireless charging. The primary benefits of wireless charging are full autonomy, no need for a charging station, a lower risk of an electric shock to the driver during wired charging, and smaller battery components. Full autonomy increases the general public's productive hours because they do not have to wait for the car to charge. This increase in productive hours also contributes to a country's GDP growth. Another important factor that supports the installation of wireless charging in urban locations where space is limited is the lack of a charging station for dynamic charging.
Global Wireless Electric Vehicle Charging Systems Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
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