September 18 2020
Wireless EV Charging Industry Overview
Market Research Future (MRFR), in their latest report, have suggested that the global wireless electric vehicle charger market is expected to be set on an impressive growth trajectory over the forecast period, as per its recently published report. A rise in the demand for electric vehicles is expected to be a primary factor supplementing the progress of the global Wireless EV Charging Industry in the forthcoming years. There are common concerns raised by large scale of consumers related to the depletion of natural and non-renewable resources. Such concerns are expected to provide impetus to the adoption of electric vehicles.
Another factor driving up the adoption of electric vehicles includes the stringent regulations instigated by governments regarding carbon emissions which has accelerated the adoption of electric vehicles, hence propelling growth in the Wireless EV Charging Industry across the globe. In addition, technologically advanced and innovative product offerings by manufacturers has promoted the adoption of electric vehicles on a larger scale, hence fueling the wireless electric vehicle charger market growth. Also, governments have started catalyzing their efforts into accelerating the adoption of sustainable energy-based vehicles, as compared to vehicles that run on conventional fossil fuels, to supplement the environment-friendly initiatives undertaken by most countries across the globe.
Provisions are observed to be made for financial incentives to foster the sale of electric vehicles, which is also expected to promote the market growth for wireless electric vehicle chargers in the forthcoming years. However, lack of standardization of products has remained an impediment on the ascension of the global wireless electric vehicle charger market.
Get More Details of Report @ https://www.abnewswire.com/pressreleases/wireless-ev-charging-market-2019-industry-growth-size-share-opportunities-business-strategy-sales-revenue-competitive-landscape-future-prospects-and-regional-forecast-to-2027_456896.html
Some of the major players in Global Wireless EV Charging Industry include ABB (Switzerland), Leviton (U.S.), WiTricity Corporation (U.S), Convenient Power HK Limited (Hong Kong), Siemens (Germany), Delphi Automotive (U.K.), Qualcomm (U.S.), and Bosch Group (Germany) among others.
The Wireless EV Charging Industry report is segmented into eight key market dynamics to widen the scope of understanding,
The Asia Pacific region dominates the global wireless electric vehicle charging market with the largest share. Owing to the growing production of electric automobiles from China and Japan, the region is estimated to continue its dominance throughout the review period. Boosting production and sales of EVs in this region is expected to foster the market demand.
Due to the improving economy and growing sales of EVs, mainly in India, China, and Japan, the growth of the market would rise extensively. Moreover, rising focus to reduce vehicle emissions and growing investments in the development of efficient wireless EV charging systems are driving the regional market growth. Also, the presence of several key market players in the region is supporting is augmenting the demand in the market.
The wireless electric vehicle charging market in North America takes the second lead globally. Increasing sales of EVs fuelled by government support and increasing fuel prices are a key factor boosting the size of the regional market. In the US, sales of electric vehicles have been doubling each year, clearly indicating the demand for wireless electric vehicle charging that is on the constant rise.
The US is estimated to create a larger revenue pocket in the regional market in the next six years. Huge investments transpired in the development of these chargers led by government initiatives, and high disposable income in the region is driving the market in the North American region.
The Europe wireless electric vehicle charging market, on the other hand, is growing rapidly. Rising sales and government support for electric vehicles, restrictions of vehicle emissions, and the implementation of regulations against ICE vehicles in the UK and Germany are expected to contribute to the growth of this market.
Factors, such as the rising sales of EVs due to the resurging economy and government initiatives and the vast contributions from the UK, Germany, France, and Norway commutatively presage the ample scope of market growth opportunities in the region.
Industry/ Innovation/ Related News:
July 27, 2019 ---- WiTricity (the US), an MIT spinout, develops solutions for wireless power transfer, over distance, and wireless charging systems for electric vehicles, announced that it is working on standardizing wireless charging of the electric vehicle. WiTricity owns 1500 separate patents regarding wireless charging which came along with the acquisition of Qualcomm Halo in 2017 and the much-coveted patent for magnetic resonance technology.
WiTricity is a benchmark in wirelessly charging electric vehicles and is set to control the market and introduce standardization into the product. The company continues to embrace a perpetual relationship with portable electrical & electronic devices, and a growing expectation for such devices to function at all times without any interruption.
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
+1 646 845 9312