Wireless EV Charging Market

Market Leaders - Wireless EV Charging Market

The wireless EV charging market is projected to grow from USD 8 million in 2020 to USD 407 million by 2025, at a CAGR of 117.56% during the forecast period. The adoption of wireless connectivity is increasing at a fast rate due to the development of wireless EV technology. The demand for EVs has resulted in the high growth of wireless charging systems, which is due to the improvement in battery technology, charging technology, and increased vehicle range. A significant increase in the financial support from governments in the form of tax rebates and subsidies and favorable regulations to promote the use of eco-friendly vehicles are the key factors that have led to an increase in the adoption rate of wireless EVs.

The key players in the wireless EV charging market are WiTricity Corporation, Evatran Group (Plugless), and Momentum Dynamics Corporation, Qualcomm Technologies, Inc., Bombardier, Inc. and many others. Qualcomm is anticipated to be a dominant player in the wireless EV charging market. New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the wireless EV charging market.

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Qualcomm, Inc. has emerged as one of the leading companies in the area of dynamic EV charging system. Qualcomm has demonstrated its dynamic charging capability on a 100-meter FABRIC test track. The European Commission funded the FABRIC project (Feasibility analysis and development of on-road charging solutions for future EVs) to conduct a feasibility analysis of on-road charging technologies. FABRIC was undertaken by a consortium of 25 organizations from nine European countries. This project came to an end in October 2017 and concluded that the dynamic charging of EVs by means of e-corridors on motorways and in urban and suburban areas could be viable for heavy-duty vehicles from 2030 and for light vehicles from 2050.

WiTricity, another major player, collaborated with Texas Instruments in 2017, to use automotive-grade semiconductor components in WiTricity’s DRIVE 11 wireless charging systems and reference designs. DRIVE 11 wireless charging system enables drivers to park their EVs and be assured of rapid, efficient charging without having to handle charging cables. WiTricity’s TMN Controller utilizing TI’s C2000TM real-time control microcontroller (MCU) can enable DRIVE 11-based EVs and charging stations to automatically optimize energy transfer between the source and vehicle in a wide range of real-world operating conditions including parking misalignment, differing vehicle ground clearance, and varying battery voltage conditions.

Related Reports:

Wireless EV Charging Market by Charging Station (Home, Commercial), Charging (Stationary, Dynamic), Propulsion (BEV, PHEV), Power Supply (3–<11 KW, 11–50 KW, & >50 KW), Vehicle (CV, 2 wheeler), Component, Installation, and Region - Global Forecast to 2025

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Report Code
AT 5554
Published ON
Dec, 2018
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