Wireless Electric Vehicle Charging Market Growth Accelerated by Adoption of Wireless Charging Infrastructure

Wireless Electric Vehicle Charging Market


Wireless Electric Vehicle Charging technology provides an efficient solution for charging electric vehicles without plugging in. It utilizes induction coils placed in the vehicle and the ground to wirelessly transfer electric current for charging. The technology offers convenience to users by eliminating the need to physically connect the charger to the vehicle.

The global Wireless Electric Vehicle Charging Market is estimated to be valued at US$ 92.16 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The adoption of Wireless Electric Vehicle Charging infrastructure is expected to drive the growth of the market during the forecast period. Various countries are investing heavily in building wireless EV charging infrastructure to accelerate the adoption of electric vehicles. For instance, in 2022, the U.S. government approved the Bipartisan Infrastructure Deal to allocate $7.5 billion for building EV charging stations across highways and metropolitan areas which includes significant funding for wireless charging technology development. Such initiatives are encouraging automakers to increase investments in developing EV models with wireless charging capability. Additionally, technological advancements aimed at improving the efficiency and speed of wireless charging are further expected to promote the market growth.

Segment Analysis
The global Wireless Electric Vehicle Charging market is segmented into type and application. Based on type, the contact-based segment currently dominates the market due to convenience and efficiency. This segment enables the battery to be charged by simply parking the vehicle over the charging pad. Based on application, public/commercial charging stations hold the largest share as governments worldwide are heavily investing in building public charging infrastructure to promote electric mobility.

Key Takeaways
Global Wireless Electric Vehicle Charging Market Size is expected to witness high growth.

Regional analysis: North America is currently the dominant region due to favorable government policies and rising adoption of electric vehicles. The region is expected to retain its top position throughout the forecast period owing to ongoing investments in developing wireless charging technology and infrastructure by various players in the US and Canada.

Key players: Key players operating in the Wireless Electric Vehicle Charging market include Naïo Technologies, Dahlia Robotics GmbH, Ecorobotix, Carbon Robotics, Vision Robotics Corporation, Harvest Automation, Soft Robotics Inc, Abundant Robotics, Bosch Deepfield Robotics, Energreen, Saga Robotics, Blue River Technology, VitiBot, and Aigen. These players are focusing on new product launches and collaborations to strengthen their presence and capture more market share.

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