Pune, India -- (SBWire) -- 02/28/2019 --Global wireless EV charging market is expected to rise from its initial estimated value of USD 1.67 million in 2018 to an estimated value of USD 844.25 million by 2026, registering a CAGR of 117.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in electric vehicles on the road.

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Key Developments in the Market:

- In November 2017, WiTricity Corporation and Texas Instruments Incorporated have announced that they have collaborated and are aiming to use Texas's automotive-grade semiconductor components in WiTricity's wireless charging systems.

- In May 2017, Qualcomm Technologies Inc. introduced dynamic electric vehicle charging dynamic electric vehicle charging (DEVC), which is aimed at allowing the users of the vehicles to charge their vehicles while driving.

According To Qualcomm Halo™ "Wireless Electric Vehicle Charging (WEVC) is highly efficient, convenient and easy-to-use wireless charging technology for charging Electric Vehicles (EV). Drivers of Halo vehicles simply park and charge without the need for plug-in cables or adaptors. The technology for Halo vehicles has been developed over many years. Working closely with the automotive industry, the technology uses resonant magnetic induction to transfer energy wirelessly, from a ground-based pad to a pad integrated in the vehicle".

Global Market Key Competitors:

Few of the major competitors currently working in the wireless EV charging market are :-

- Continental AG,
- Robert Bosch GmbH,
- Qualcomm Technologies Inc.,
- Toyota Motor Corporation,
- Bombardier Inc.,
- WiTricity Corporation,
- HELLA GmbH & Co. KGaA,
- EVATRAN GROUP,
- TOSHIBA CORPORATION,
- ZTE Corporation,
- ELIX Wireless,
- HEVO Power,
- AddÉnergie Technologies Inc.,
- Blink Charging Co.,
- ChargePoint Inc.,
- ClipperCreek,
- EVgo Services LLC,
- Leviton Manufacturing Co. Inc.,
- Semaconnect,
- ABB,
- Alfen N.V.,
- Allego B.V.,
- Siemens AG,
- Efacec,
- IONITY GmbH,
- Schneider Electric,
- SAMSUNG SDI CO.LTD.,
- TGOOD Global Ltd.,
- Automotive Energy Supply Corporation,
- Tritium Pty Ltd,
- Mitsubishi Electric Corporation.

Competitive Analysis:

Global wireless EV charging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wireless EV charging market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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Market Drivers:

Growing demand for electric vehicles and availability of electric vehicles on the road is expected to drive the market growth

Increase in usage of electric vehicles and distance travelled by these vehicles is also expected to drive the market growth

Market Restraints:

High cost of infrastructure development from wired to wireless charging methods is expected to restrain the market growth

Requirement of long routes for the implementation of dynamic wireless charging is also expected to act as a restraint to the market growth

Segmentation: Global Wireless EV Charging Market

- By Installation Type
o Aftermarket
o Original Equipment Market

- By Propulsion Type
o Battery Electric Vehicle (BEV)
o Plug-In Hybrid Electric Vehicle (PHEV)

- By Charging Station Type
o Commercial Charging Stations
o Home Charging Stations

- By Component
o Base Charging Pad
o Power Control Unit
o Vehicle Charging Pad

- By Power Supply Range
o 3-11KW
o 11-50KW
o Less than 50KW

- By Charging Type
o Dynamic Wireless Charging System
o Stationery Wireless Charging System

- By Vehicle Type
o Passenger Cars
o Electric Commercial Vehicle
o Electric Two Wheeler

- By Geography
o North America
o South America
o Europe
o Asia-Pacific
o Middle East & Africa

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