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Wireless Electric Vehicle Charging Market -
Competitive Analysis
Highly competitive, the wireless electric vehicle charging
market appears fragmented due to the presence of several well-established
players. These players incorporate strategies like mergers & acquisitions,
collaboration, technology/product launch, and expansion to gain a larger
competitive share.
Major Players:
Players leading the global Wireless
Electric Vehicle Charger Market include Leviton (U.S.), ABB
(Switzerland), WiTricity Corporation (U.S), Siemens (Germany), Convenient Power
HK Limited (Hong Kong), Delphi Automotive (U.K.), Bosch Group (Germany), and
Qualcomm (U.S.), among others.
Additionally, large-scale implementations of truly wireless EV
powering solutions and the game-changing wireless charging road systems led by
the government initiatives to revolutionize mobility influence the market
growth. Today, most industry players use electromagnetic resonance effects,
which are practically identical to the current Qi standard, that is, using a
charging pad. The demand for wireless EV charging solutions like Wi-Fi
connectivity is expected to increase hugely in the future.
On the other hand, wireless power transmission solutions
require a large structure which is a costly affair. Besides, charging stations’
unsafe frequencies are harmful to living organisms and can be expensive.
Therefore, high investments requirement for the development of charging
stations or infrastructures and unsafe frequencies are major growth impeding
factors for the market.
Nevertheless, increasing R&D investments to develop
innovative wireless EV charging solutions would support the market growth
throughout the review period. Wireless charging enables vehicles on the go and
keeps cities clean, allowing practically invisible charging during regular
operation. This automatic system dispenses with the need for
visually-detracting cabling or charging pads sunk into or on the roadway.
Wireless Electric Vehicle Charging Market -
Segmentation
The report is segmented into three dynamics;
By Technology: Inductive
Charging, Conductive Charging, Dynamic Charging, Magnetic Resonance, among
others.
By Component: Electromagnetic
Induction, Wireless Power Receiver, Rectifies, Power Distribution
Box, Vehicle Receiver Unit, Ground Transmission Unit, Battery, and others.
By Regions
: Americas, Europe, Asia Pacific, and
Rest-of-the-World.
Wireless Electric Vehicle Charging Market -
Regional Analysis
North America dominates the global wireless electric vehicle
charging market. The largest market share attributes to government initiatives
to reduce dependency on fuel-driven vehicles that profit the electric vehicle
market and create vehicle charging solutions. Moreover, the growing demand for
electric vehicles with a low operating cost and government support for the
development of the wireless EV charging industry push the regional market
growth.
The Asia Pacific region stands second in the global
wireless electric vehicle charging market. The market is driven by advancements
in wireless charging technologies and charging devices. Besides, the
massive increase in the production and sales of e-vehicles in the region
increases the installation of the wireless EV charging system, and solutions
drive the market growth.
Europe also accounts for a considerable share in the global
wireless electric vehicle charging market. Factors such as investments in research
& development and a large EV user base create a huge demand for wireless EV
charging devices. Additionally, regulatory laws implemented to minimize vehicle
emissions and favorable incentives policies substantiate the market demand,
increasing electric vehicle sales.
Industry/ Innovation/ Related News
Feb. 18, 2021 ----- IPT
Group, a global manufacturer of wireless charging and electrification solutions
for industrial and e-mobility applications, announced the acquisition of
Primove, the e-mobility inductive charging technology portfolio from
Bombardier.
Primove technology complements IPT’s existing IP and product
portfolio and speeds up its product-to-market plans. The acquisition would
enable IPT to offer a complete product portfolio, combining two cleantech
scale-ups in wireless power transfer for e-mobility, benefiting from synergies,
thereby accelerate its markets.
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