Wireless Car Charging Market Is Expected To Reach USD 6.0 Billion By 2021|Analysis by Industry Size, Market Shares and Growth

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Wireless car chargers makes charging of electric powered vehicles convenient and seamless. With the help of wireless charging, vehicles remain connected with constant source of power both at stationary and moving position.

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The global wireless car charging market is anticipated to bolster at a robust growth rate and reach USD 6.0 Billion by 2021. Geographically, the global wireless car charging market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World.

Market Size and Forecast

Regionally, Europe dominates the global wireless car charging market followed by North America. Wireless car charging market in Europe is propagated by rapid expansion of automobile sector in the region. In addition to that rising spending on research and developments in automotive industry is also believed to nurture Europe wireless car charging market in future.

North America wireless car charging market is projected to bolster from increasing inclination of major auto players such as General Motors and Ford towards manufacturing of electric vehicles. The U.S. is the largest wireless car charging market in North America followed by Canada.

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Asia-Pacific wireless car charging market is believed to have a stupendous growth over the covered forecast period i.e. 2015-2021. The market in the region is likely to flourish from increasing GDP growth in countries such as India and China, which-in turn is fuelling the production of electric powered vehicles. In addition to that, rising per capita income and growing urbanization is also believed to propel the expansion of Asia-Pacific wireless car charging market in coming 5-6 years.

Leading Players of Automotive Industry:

Bosch Group, LG, Energizer, Evatran Group, Witricity. Intel, Qualcomm Qualcomm, Alliance for Wireless Power (A4WP), etc., Evatran Group, Qualcomm Technologies, Inc., WiTricity Corporation, HEVO Power, Continental AG, Ford Motor Company, BMW Automobile Company, Nissan Motor Company Ltd., Bosch Group, Tesla Inc., Other Key Players.

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Growth Drivers and challenges

Escalating demand for hybrid and electric cars is anticipated to foster the growth of global wireless car charging market over the forecast period i.e. 2015-2021. In addition to that increasing requirement of constant power source for efficient working of electric vehicles is also expected to drive the global wireless car charging market in coming 4-5 years.

However, lack of availability of standardized wireless charging devices is expected to restrain the growth of global wireless car charging market in future.

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