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The global Wireless Charging Market for Electric Vehicles size is projected to grow from USD 80 Million in 2023 to USD 1279 Million by 2030, at a CAGR of 48.4%. Factors such as rapid development of fast-charging infrastructure for electric vehicles in conjunction with rising sales of electric vehicles are expected to increase the demand for wireless charging solutions for electric vehicles. Also, increasing support from governments for wireless charging paired with increasing demand for semi-autonomous vehicles are also expected to support the revenue growth of the wireless charging for electric vehicles during the forecast period.

The wireless charging market for electric vehicles is dominated by global players such as WiTricity Corporation (US), Electreon (Israel), InductEV Inc. (US), Plugless Power Inc. (US), Wave Charging (US), and ENRX (Norway), among others. These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.

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WiTricity Corporation

WiTricity Corporation commercialized its new technology for wireless electricity invented at the Massachusetts Institute of Technology (MIT) in 2005. The company provides wireless charging systems for electric vehicles using magnetic resonance technology. This magnetic resonator delivers high efficiency while operating over a wide range of conditions. Its wireless charging solution delivers high energy transfer to end users. The solution is available for several carmakers, charging infrastructure suppliers, tier 1 suppliers, and individual car owners. Toyota Motor Corporation (Japan), Wiferion (Germany), Siemens AG (Germany), STMicroelectronics (Switzerland), TDK (Japan), MAHLE (Germany), Shindengen (Japan), Aptiv (Ireland), DAIHEN Corporation (Japan), among others, have licensed this technology. This licensing makes it easier for companies to incorporate the patented wireless power technology into their respective products and solutions. WiTricity Corporation has a large number of investors, such as Mitsubishi Corporation (Japan), Toyota Motor Corporation (Japan), Siemens AG (Germany), Delta Electronics, Inc. (Taiwan), Intel Capital (US), Haier (China), Foxconn Technology Group (Taiwan), Chartline Capital Management, LLC. (US) and Stage 1 Ventures, LLC (US).

InductEV, Inc.

InductEV, Inc. (formerly Momentum Dynamics Corporation) develops high-power inductive charging technologies for the automotive and transportation industries. The company specializes in EV and Plug-in Hybrid Electric Vehicle (PHEV) charging equipment, high-power wireless charging for electric vehicles, and inductive power systems. It offers wireless charging solutions for public & private transit, commercial fleets, and automotive OEMs, among others. Their established technology enables a vehicle or device to be coupled to the electrical power system without the use of wires or cables. Wireless charging technology is being developed to meet the demand of the current and future generations of electric vehicles. Wireless charging is an alternative to plug-in charging and the primary method of charging the vehicles' batteries. The charging technology can help reduce the cost and increase the efficiency of autonomous and electric vehicles.

HEVO Inc.

HEVO Inc. (Hybrid & Electric Vehicle Optimization) provides wireless charging networks for electric vehicles. The company focuses on enhancing the EV charging experience and reducing global reliance on fossil fuels by providing electric vehicles with the best possible charging infrastructure. Its mission is to accelerate the adoption of EVs equipped with wireless charging technology. The company is also focusing on building global wireless charging standards for electric vehicles. Its patented, universal wireless charging products accelerate EV adoption by improving charging UX, eliminating range anxiety and increasing EV affordability. The company has operations in North America and Europe. Hence, these regions contribute to the major portion of its total revenue.

Electreon

Electreon is one of the top suppliers of wireless charging solutions for EVs. The company offers end-to-end infrastructure and services to cater to consumer needs/demands for shared, public, and commercial fleet operators. Its patented inductive charging technology can charge electric vehicles both stationary and dynamically. It specializes in wireless energy, electric vehicles, Dynamic Wireless Power Transfer (DWPT), E-mobility, smart city solutions, transportation innovation, smart road technology, autonomous vehicles, EV charging, and wireless charging, among others.

Plugless Power Inc.

Plugless Power Inc. delivers power transfer solutions designed to enhance the experience of electrified mobility. It uses inductive charging technology to eliminate the need to plug into the EV. In 2016, the second generation Plugless Power wireless charging system was released, which supports the Tesla Model S and BMW i3. The company released its latest third-generation unit, with universal EV charging capabilities, in December 2021.

In December 2020, Plugless Power Inc. acquired the wireless inductive charging patent portfolio and the other related property of Evatran Group, Inc. (US), a developer of wireless charging systems for electric vehicles. Evatran’s patented technology offers electric vehicles a safe, efficient, and convenient way to charge batteries without a cord.

Related Reports:

Wireless Charging Market for Electric Vehicles by Propulsion (BEVs, PHEVs), Application (Home & Commercial), Charging Type (Stationary & Dynamic), Component, Power Supply Range, Charging System, Vehicle Type & Region - Global Forecast to 2030

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