Automotive Inductive Wireless Charging System Market, By Installation Type, By Power Supply Range, By Vehicle Type, By End-User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
Automotive Inductive Wireless Charging System Market size was valued at USD 1,410.90 Million in 2023, expanding at a CAGR of 29.90% from 2024 to 2032.
The Automotive Inductive Wireless Charging System Market focuses on the development and implementation of wireless charging technologies for electric vehicles (EVs) and plug-in hybrids. This innovative charging solution enhances convenience by eliminating the need for physical connectors and cables. Growing adoption of electric vehicles, projected to surpass 30 million units sold globally by 2025, is significantly propelling the demand for efficient and user-friendly charging options. Additionally, increasing government initiatives aimed at promoting EV adoption, such as incentives and infrastructure development, further bolster market growth. However, challenges such as high installation costs and limited standardization across manufacturers may restrain market expansion. Opportunities lie in technological advancements, including improved charging efficiency and the integration of smart grid systems, which can enhance charging capabilities. For instance, recent initiatives in countries like Germany and the United States are focusing on developing public wireless charging infrastructure, aiming to reduce range anxiety among EV users and promote a more sustainable transportation ecosystem.
Automotive Inductive Wireless Charging System Market- Market Dynamics
Growing Adoption of Electric Vehicles Fuels Demand for Automotive Inductive Wireless Charging Systems
The growing adoption of electric vehicles (EVs) is significantly driving demand for automotive inductive wireless charging systems. According to the International Energy Agency (IEA), the number of electric cars on the road surpassed 10 million in 2020, and projections indicate this number will exceed 30 million by 2025. This surge in EV adoption creates a pressing need for more efficient and user-friendly charging solutions. Governments around the world, including initiatives in the European Union and the U.S., are investing in the development of wireless charging infrastructure to support this growth. For example, in 2021, the U.S. Department of Energy announced funding for projects aimed at developing wireless charging technology, highlighting its potential to enhance the EV experience. Additionally, companies like BMW and Mercedes-Benz are exploring wireless charging options to improve convenience for EV owners, reducing range anxiety and encouraging more consumers to switch to electric vehicles. This shift underscores the importance of innovative charging solutions in fostering a sustainable transportation future.
Automotive Inductive Wireless Charging System Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 29.90% over the forecast period (2024-2032)
Based on Installation Type segmentation, Static Wireless Charging was predicted to show maximum market share in the year 2023
Based on Power Supply Range segmentation, up to 11 kW was the leading type in 2023
Based on Vehicle Type segmentation, Passenger Vehicles was the leading type in 2023
On the basis of region, Europe was the leading revenue generator in 2023
Automotive Inductive Wireless Charging System Market- Segmentation Analysis:
The Global Automotive Inductive Wireless Charging System Market is segmented on the basis of Installation Type, Power Supply Range, Vehicle Type, End-User, and Region.
The market is divided into two categories based on Installation Type: Static Wireless Charging and Dynamic Wireless Charging. Static Wireless Charging holds the highest priority due to its established technology and widespread Power Supply Range in residential and commercial settings. Dynamic Wireless Charging follows, offering innovative solutions for charging vehicles while in motion, but is still in development.
The market is divided into three categories based on Power Supply Range: Up to 11 kW, 11-22 kW, and Above 22 kW. The segment "Up to 11 kW" leads due to its suitability for home application and widespread adoption. The "11-22 kW" segment follows, catering to commercial needs, while "Above 22 kW" targets high-power charging solutions for specific Power Supply Ranges.
Automotive Inductive Wireless Charging System Market- Geographical Insights
The Automotive Inductive Wireless Charging System Market exhibits notable regional dynamics, with Europe leading the way due to its aggressive push for electric vehicle adoption and infrastructure development. Countries like Germany and the Netherlands are at the forefront, with Germany's Federal Ministry for Economic Affairs investing €1 billion in innovative charging technologies, including wireless systems, as part of its national strategy to boost EV usage. North America follows closely, driven by the increasing availability of EVs and supportive policies; California, for instance, aims to have 5 million zero-emission vehicles by 2030, further driving demand for convenient charging solutions. The Asia-Pacific region, particularly China, is also emerging rapidly, with the government promoting initiatives like the "Made in China 2025" strategy, which includes advancements in electric mobility and charging technologies. Chinese companies such as NIO are actively developing wireless charging solutions, aligning with national goals for sustainable transportation. These regional initiatives highlight the growing importance of wireless charging systems in supporting global EV adoption.
Automotive Inductive Wireless Charging System Market- Competitive Landscape:
The competitive landscape of the Automotive Inductive Wireless Charging System Market is characterized by active players across various regions, with Europe leading in innovation and implementation. Companies like BMW and Volkswagen are at the forefront, investing heavily in research and development to integrate wireless charging into their electric vehicles. For example, BMW's wireless charging system allows EV owners to charge their vehicles without plugging in, reflecting the region's commitment to enhancing user convenience. North America is also significant, with companies such as WiTricity and Qualcomm working on advancing wireless charging technologies; WiTricity recently partnered with major automakers to commercialize its inductive charging solutions. Meanwhile, the Asia-Pacific region, particularly China, is rapidly evolving with companies like BYD and NIO leading the charge. The Chinese government's push for electric mobility, coupled with initiatives to develop wireless charging infrastructure, is creating a competitive environment for local and international firms. This dynamic interplay among key players underscores the importance of innovation in meeting the growing demand for efficient EV charging solutions.
Recent Developments:
In January 2024, Electreon Wireless installed Norway's first wireless charging road, allowing electric vehicles to charge while driving. This innovative system uses copper coils beneath the road surface to create an electromagnetic field, enhancing public transport efficiency and reducing carbon emissions.
In January 2024, Valeo introduced its Ineez(TM) Air Charging system, a lightweight wireless EV charging solution operating at 3kHz with over 90% efficiency. It supports all vehicles with 400-800V batteries and is suitable for public and private installations.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL AUTOMOTIVE INDUCTIVE WIRELESS CHARGING SYSTEM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Bombardier Inc.
Continental AG
Electreon Wireless Ltd.
Energous Corporation
Evatran Group, Inc. (Plugless)
Honda Motor Co., Ltd.
Momentum Dynamics Corporation
Nissan Motor Co., Ltd.
Qualcomm Incorporated
Robert Bosch GmbH
Siemens AG
Tesla, Inc.
Toyota Motor Corporation
WAVE Inc. (Wireless Advanced Vehicle Electrification)
WiTricity Corporation
ZTE Corporation
Others
GLOBAL AUTOMOTIVE INDUCTIVE WIRELESS CHARGING SYSTEM MARKET, BY INSTALLATION TYPE- MARKET ANALYSIS, 2019 - 2032
Static Wireless Charging
Dynamic Wireless Charging
GLOBAL AUTOMOTIVE INDUCTIVE WIRELESS CHARGING SYSTEM MARKET, BY POWER SUPPLY RANGE- MARKET ANALYSIS, 2019 - 2032
Up to 11 kW
11-22 kW
Above 22 kW
GLOBAL AUTOMOTIVE INDUCTIVE WIRELESS CHARGING SYSTEM MARKET, BY VEHICLE TYPE- MARKET ANALYSIS, 2019 - 2032
Passenger Vehicles
Commercial Vehicles
Electric Buses
Electric Trucks
GLOBAL AUTOMOTIVE INDUCTIVE WIRELESS CHARGING SYSTEM MARKET, BY END-USER- MARKET ANALYSIS, 2019 - 2032
OEMs
Aftermarket Service Providers
Fleet Operators
GLOBAL AUTOMOTIVE INDUCTIVE WIRELESS CHARGING SYSTEM MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Automotive Inductive Wireless Charging System Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Automotive Inductive Wireless Charging System Market Snippet by Installation Type
2.1.2. Automotive Inductive Wireless Charging System Market Snippet by Power Supply Range
2.1.3. Automotive Inductive Wireless Charging System Market Snippet by Vehicle Type
2.1.4. Automotive Inductive Wireless Charging System Market Snippet by End-User
2.1.5. Automotive Inductive Wireless Charging System Market Snippet by Country
2.1.6. Automotive Inductive Wireless Charging System Market Snippet by Region
2.2. Competitive Insights
3. Automotive Inductive Wireless Charging System Key Market Trends
3.1. Automotive Inductive Wireless Charging System Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Automotive Inductive Wireless Charging System Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Automotive Inductive Wireless Charging System Market Opportunities
3.4. Automotive Inductive Wireless Charging System Market Future Trends
4. Automotive Inductive Wireless Charging System Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Automotive Inductive Wireless Charging System Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Automotive Inductive Wireless Charging System Market Landscape
6.1. Automotive Inductive Wireless Charging System Market Share Analysis, 2023
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Automotive Inductive Wireless Charging System Market - By Installation Type