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Wireless EV Charging Market - Global Forecast to 2025 - Research and Markets

[September 12, 2017]

Wireless EV Charging Market - Global Forecast to 2025 - Research and Markets

The "Wireless EV Charging Market - Global Forecast to 2025" report has been added to Research and Markets' offering.

The wireless EV charging market is projected to grow at a CAGR of 49.38% from 2020 to 2025, to reach a market size of USD 7,094.8 Million by 2025.

The market growth is primarily driven by factors such as an increase in demand for electric vehicles due to government policies and subsidies favoring electric vehicle charging stations (EVCS) and technological advancements. The growing infrastructure of fast chargers for electric vehicles is another key driver for the wireless EV charging market.

The >50 kW power supply range is estimated to be the fastest growing segment of the wireless EV charging market during the forecast period. The growth of this segment is driven by the huge incentives from the government for the installation of fast chargers and subsidies for the public charging infrastructure. The increasing demand for commercial electric vehicles is also contributing to the growth of the high power supply range. Electric buses and electric trucks require a heavy power supply of more than 50 kW to charge their high capacity batteries.

The battery electric vehicle (BEV) is estimated t hold the largest market share during the forecast period. The penetration of the wireless charging system for BEVs is greater than that of PHEVs because the electric vehicles are completely powered by a battery and have no backup fuel source. The battery electric commercial vehicles are also emerging gradually in the market. The wireless EV charging market for BEVs is estimated to grow in the coming years due to strict emission norms by the governments of various countries and increase in the distance traveled by electric vehicles.

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