Wireless Electric Vehicle Charging Market is Estimated to Witness High Growth Owing to Rising Demand for Convenience
SWOT Analysis
Strength: Wireless charging allows for contactless charging which eliminates cable wear and tear, reduces issues with corrosion of charging ports, and improves convenience as vehicles do not need to be physically plugged in. Wireless charging pads can be placed underground or built into parking spaces which could allow for automated opportunity charging. Wireless transfer of electricity also has improved efficiency compared to wired charging.
Weakness: Wireless charging systems currently have significantly lower power transfer rates compared to physical wired connections, which results in slower charging times. The construction and installation of wireless charging systems is also more complex and expensive than traditional wired fast chargers. Standards for wireless charging technologies have also not been universally adopted which limits interoperability.
Opportunity: As wireless power transfer technologies continue to improve, standards are adopted, and costs reduce, wireless EV charging has potential to become the predominant model for public charging infrastructure and for fleet vehicle charging applications. Wireless charging could help address issues with limited battery ranges by allowing automated charging during parking or idle times. It may also appeal to consumer preferences for contactless, automated technologies.
Threats: Continued advances in wired fast charging could reduce the relative benefits of wireless systems by further narrowing charging time differences. High upfront investment costs may slow widespread installations of wireless charging infrastructure. Issues with power transfer efficiency and foreign object detection could undermine consumer acceptance compared to simple physical connections. Open standards and global adoption will be important for wireless charging to achieve economies of scale.
Key Takeaways
Global Wireless Electric Vehicle Charging Market Size is expected to witness high growth over the forecast period driven by advancements in wireless power transfer technologies and growing preferences for contactless, automated charging solutions. Increased standardization and falling costs will support wider adoption.
Regional analysis - North America currently dominates the wireless EV charging market supported by rising EV sales and government investments in charging infrastructure. China and Europe are also major regional markets due to strong policy pushes for electrification of transport. Automakers in Germany and startups in Israel are leading technology developments.
Key players operating in the Wireless Electric Vehicle Charging market are Naïo Technologies, Dahlia Robotics GmbH, Ecorobotix, Carbon Robotics, Vision Robotics Corporation, Harvest Automation, Soft Robotics Inc, Abundant Robotics, Bosch Deepfield Robotics, Energreen, Saga Robotics, Blue River Technology, VitiBot. Key players are focused on innovations to improve power transfer efficiencies, detection capabilities, interoperability and reducing production costs of wireless charging systems. Partnerships with automakers and infrastructure providers will be important for commercialization.
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