According to Fortune Business Insights the global wireless EV charging market size was USD 16.5 million in 2020 and is projected to grow from USD 18.6 million in 2021 to USD 221.0 million in 2028 at a CAGR of 42.4% during the forecast period. The industry is still in an early adoption phase, but rapid technological advancements and EV adoption are accelerating growth.
Wireless charging for electric vehicles (EVs) refers to a contactless power transfer technology that enables EV batteries to charge without physical cables. It typically uses electromagnetic induction or resonant magnetic coupling between a charging pad on the ground and a receiver installed in the vehicle.
Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/wireless-charging-for-ev-market-105844
Market Insights
- Passenger cars dominate the market and are expected to maintain leadership.
- The 3–11 kW power segment held the largest share in early stages.
- The 11–50 kW segment is projected to grow at the fastest rate due to high-power charging demand.
- Commercial charging stations are expected to witness highest CAGR driven by fleet and public infrastructure.
Market Segmentation
By Power Supply
- 3 kW – <11 kW
- Dominates early-stage adoption
- Suitable for residential and low-power charging
- 11 kW – 50 kW
- Fastest-growing segment
- Increasing adoption in public and commercial charging
- Above 50 kW
- Emerging segment
- Focus on high-speed charging infrastructure
By Vehicle Type
- Passenger Cars
- Largest market share
- Driven by rising EV ownership
- Commercial Vehicles
- Growing rapidly due to fleet electrification
- High adoption in logistics and public transport
Regional Analysis
- Which region dominated the market?
Europe dominated the market with around 41.9% share in 2020, supported by strong government policies promoting electric vehicles, high EV adoption rates, and advanced R&D along with multiple pilot projects. - What is driving growth in North America?
North America’s growth is driven by favorable government incentives, increasing adoption of electric vehicles, and a strong R&D ecosystem, with the U.S. being a key contributor to market expansion. - Why is Asia Pacific experiencing rapid growth?
Asia Pacific is witnessing rapid growth due to rising EV sales, particularly in China and India, along with expanding charging infrastructure and cost-effective manufacturing capabilities. - What is the market status in Latin America?
Latin America is an emerging market, with growth driven by increasing urbanization and the adoption of electric public transportation systems. - How is the Middle East & Africa region evolving?
The Middle East & Africa region is at an early stage of adoption, with growth supported by smart city initiatives and increasing focus on sustainability goals.
Market Dynamics
What are the key drivers of the market?
- Rising adoption of electric vehicles
- Increasing demand for convenient and cable-free charging
- Government initiatives to reduce carbon emissions
- Technological advancements in inductive charging
What are the major restraints?
- High installation cost
- Limited infrastructure availability
- Efficiency challenges compared to wired charging
Key Players
- WiTricity Corporation (U.S.)
- HELLA GmbH & Co. KGaA (Germany)
- ZTE Corporation (China)
- Continental AG (Germany)
- Robert Bosch GmbH (Germany)
- Tesla (U.S.)
- Momentum Dynamics Corporation (U.S.)
- Toyota Motor Corporation (Japan)
- Toshiba Corporation (Japan)
Key Industry Development
- January 2021 – Alibaba Partners with SAIC to Unveil Electric Car with Wireless Charging Alibaba Group Holding, a China-based e-commerce group, launched an electric car with wireless charging under the joint venture brand IM ‘intelligence in motion’ formed with SAIC Motor Corporation Ltd.
- February 2021 – IPT Group takes over PRIMOVE E-mobility Wireless Charging Technology Portfolio IPT Group acquired PRIMOVE to the scale-up its product portfolio in wireless power transfer for electric mobility. This acquisition helps to accelerate IPT’s offering of a complete product portfolio to serve several markets.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/wireless-charging-for-ev-market-105844?utm_medium=pie
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +18339092966
UK: +448085020280
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com