Global Wireless Electric Vehicle (EV) Charging Market Size Zooming at Stellar CAGR of 17.35% to Touch USD 786.08 Million by 2030

Published | 04 July 2024

Global Wireless Electric Vehicle (EV) Charging Market is propelled by an increasingly high demand for sustainable transportation, advancements in wireless charging infrastructure, governments’ supportive initiatives, and the growing adoption of EVs.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Wireless Electric Vehicle (EV) Charging Market size at USD 256.47 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Wireless Electric Vehicle (EV) Charging Market size to grow at a CAGR of 17.35% reaching a value of USD 786.08 million by 2030. Global Wireless Charging Market for EVs is primarily propelled by an increasing demand for sustainable transportation solutions, fostering the growth of EVs. Advancements in wireless charging technologies, offering convenience and efficiency, drive market expansion. Government initiatives promoting clean energy and stringent emissions regulations further boost adoption. Rising consumer awareness, coupled with the automotive industry's commitment to eco-friendly practices, accelerates the integration of wireless EV charging infrastructure. Continuous research and development efforts, collaborations among key industry players, and expanding EV fleets contribute to the market's dynamic evolution, shaping a future of seamless, wireless EV charging systems.

Opportunity – Governments’ supportive measures for EV adoption

In an era marked by sustainable mobility, supportive initiatives and regulations by governments across countries play a pivotal role in driving Global Wireless Electric Vehicle (EV) Charging Market. Forward-thinking policies and supportive regulations are fostering innovation, incentivizing investments, and accelerating the adoption of wireless EV technologies worldwide. As governments worldwide champion eco-friendly transportation, the market witnesses unprecedented growth, creating conducive environment for sustainable solutions and revolutionizing the future of electric mobility.

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Dynamic Wireless Charging Type to Gain Larger Market Share

Global Wireless Electric Vehicle (EV) Charging Market, based on type, consists of Static and Dynamic Charging segments. The dynamic segment holds a higher market share in Global Wireless Electric Vehicle (EV) Charging Market by type. Dynamic wireless charging technology for EVs has witnessed substantial growth, revolutionizing the automotive industry by allowing on-the-go charging. The segment's prominence is attributed to its convenience, addressing range anxiety and enhancing the overall user experience. The increasing adoption of dynamic wireless charging infrastructure in smart cities and the automotive sector underscores its pivotal role in shaping the future of electric mobility, making it a larger segment in the market.

Impact of Escalating Geopolitical Tensions on Global Wireless Electric Vehicle (EV) Charging Market

Escalating geopolitical tensions, particularly the Russia-Ukraine war, have adversely impacted Global Wireless Electric Vehicle (EV) Charging Market. Supply chain disruptions, increased energy prices, and heightened economic uncertainties have impeded the market's growth. The conflict has disrupted the production and transportation of crucial components, hindering the seamless adoption of wireless EV technology. Additionally, investor confidence has waned, affecting funding for research and development. The geopolitical instability has created a challenging environment, making it difficult for Global Wireless EV Technology Market to realize its full potential, as businesses grapple with uncertainties and adapt to changing geopolitical dynamics.

Competitive Landscape

Global Wireless Electric Vehicle (EV) Charging Market is fiercely competitive. Major companies in the market include WiTricity, Kyocera Corporation, Continental AG, Qualcomm Halo, Toyota Motor Corporation, Hevo, Momentum Dynamic, Plugless, Hella GmbH & Co. KGaA, and Siemens. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Global Wireless Electric Vehicle (EV) Charging Market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Wireless Electric Vehicle (EV) Charging Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in Global Wireless Electric Vehicle (EV) Charging Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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