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Key Market Dynamics:
- Market Driver: The increasing demand for HEVs and EVs is a major factor driving the global automotive inductive wireless charging systems market share growth. HEVs and EVs are mainly powered by batteries. The battery pack in hybrid vehicles needs to tolerate heavy charge (due to sudden braking) and heavy discharge (for sudden speed boost). In addition, the state of charge (SoC) must be kept up to 80%, which will keep space for regenerative charging and, at the same time, discharge sufficient energy for a power boost. This increasing demand for electric vehicles would increase the need for technological advancements like inductive wireless charging in the global EVs market.
- Market Challenge: The high installation cost will be a major challenge for the global automotive inductive wireless charging systems market share growth during the forecast period. With the introduction of new technologies, manufacturers or their supply chains often face certain hindrances that can challenge the mass-scale adoption of those technologies. The cost associated with the implementation of the technology on a commercial scale is relatively higher than conventional technology. This is attributable to the high cost of components used in the manufacturing and installation of the system. The huge price difference between wireless and wired charging systems compels end-users to adopt wired systems, thereby posing a challenge to market growth.
Key market dynamics and their impact analysis on the report are available in this report. Download Sample Now!
Vendor Landscape
- The automotive inductive wireless charging systems market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- To make the most of the opportunities and recover from the post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- The automotive inductive wireless charging systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Top Companies Mentioned with their Offerings
- Continental AG: The company offers AllCharge charging systems.
- ConvenientPower HK Limited: The company offers semiconductor and system technologies.
- Energizer Holdings Inc.: The company offers portable power accessories.
- Evatran Group Inc.: The company provides wireless charging systems for EVs like Tesla Model S, BMW I3, Nissan Leaf, Gen 1 Chevy Volt, 7.2KW Lab/Demo System, and 3.6KW Lab/Demo System.
- Leggett & Platt Inc.: The company offers wireless charging devices for vehicles.
- MediaTek Inc.
- Momentum Dynamics
- Qualcomm Inc.
- Renesas Electronics Corp.
- WiTricity Corporation
- Want more information on product offerings and strategic initiatives from contributing vendors, Request Sample Now!
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Automotive Inductive Wireless Charging Systems Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 97.44% |
Market growth 2021-2025 |
7039.25 th units |
Market structure |
Concentrated |
YoY growth (%) |
54.50 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 41% |
Key consumer countries |
US, Germany, China, UK, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Continental AG, ConvenientPower HK Limited, Energizer Holdings Inc., Evatran Group Inc., Leggett & Platt Inc., MediaTek Inc., Momentum Dynamics, Qualcomm Inc., Renesas Electronics Corp., and WiTricity Corporation |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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