The use of wireless electric chargers can save drivers from the hassle of manually plugging their Electric Vehicles (EVs) through cable and make the use of Electric vehicles more convenient and appealing. Moreover, the increasing support and investment from the government for the adoption of Electric Vehicles because of their sustainability and efficiency are likely to propel the growth of this market. According to an article released by The White House in February 2023, the U.S. government’s Bipartisan Infrastructure Law announced an investment of USD 7.5 Billion in EV charging and USD 10 Billion in clean transportation. It is expected to help develop the infrastructure needed to support the development of the EV market in the country.
However, the speed of these chargers is slower compared to traditional chargers and the installation of such technologies involves huge costs which can restrain people from adopting it. Apart from that, the outburst of the COVID-19 Pandemic affected the production and supply chain of the automotive sector across the world, which is likely to affect the supply of EV related products in the future. These factors are likely to hinder the growth of this market.
Major players in the market are majorly engaged in partnerships and new product developments to supply improved and innovative products. The company WiTricity, a producer of wireless charging device, announced a partnership with ABT e-Line in March 2023 to accelerate the adoption of wireless electric vehicle charging in Europe, starting with the deployment of the first aftermarket solutions. In March 2023, a developer of wireless charging systems announced four new U.S. patents which are based on real world commercial experience. The patents are expected to help in improving interaction between the vehicle assembly and battery management systems and eventually improve the reliability and efficiency of charging systems.
Based on type, the market can be segmented into Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Plug-In Hybrid Electric Vehicles (PHEV). BEVs are zero emission vehicles, only powered by electric batteries; HEVs are low emission vehicles which have electric motor to support gas-powered engines, and PHEVs come with larger electric motor and have gas tank and charging port.
By Vehicle Type
Battery Electric Vehicles (BEV)
Hybrid Electric Vehicles (HEV)
Plug-In Hybrid Electric Vehicles (PHEV)
By Charging Method
Stationary Wireless Charging
Dynamic Wireless Charging
By Power Supply Range
3 ≤ 11 KW
11 – 50 KW
By Distribution Chanel
Original Equipment Manufacturers (OEMs)
Middle East & Africa
Momentum Dynamic Corporation
Plug less Power, Inc
Robert Bosch GmbH
Hella GmbH & Co
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