Global Wireless Electric Vehicle Charging Market: Introduction
Thanks to the ongoing expansion in the automotive industry, the demand for wireless electric vehicle charging devices has increased significantly over the last few years. It is only a few years since the advent of electric vehicles and the global wireless electric vehicle charging market is yet in its nascent stage. However, with the increasing environmental concerns, the demand for electric vehicles is likely to augment in the near future, leading to a high-paced growth of the wireless electric vehicle charging market across the world.
This research report presents an in-depth analysis of the global wireless electric vehicle charging market, taking the key trends, market segmentation, and its future prospects in consideration. It also offers a deep insight into the market dynamics, in order to understand the status of the worldwide wireless electric vehicle charging market over the period of 2019 – 2027.
Global Wireless Electric Vehicle Charging Market: Notable Developments
- The global wireless electric vehicle charging market demonstrates a highly competitive and fragmented vendor landscape. The rivalry among the leading participants, such as Robert Bosch Gmbh, Continental AG, Qualcomm Inc., Toyota Motor Corp., Toshiba Corp., Texas Instruments Inc., and Evatran Group Inc. will intensify further, leading to a higher degree of competition.
- Companies are putting considerable efforts in research and development in a bid to manufacture innovative products. They are also focusing on upgrading the technologies they are using in their existing products. Going forwards, they will shift their focus on forming strategic partnerships with local players to expand their reach and strengthen their position in the worldwide wireless electric vehicle charging market in the years to come.
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Global Wireless Electric Vehicle Charging Market: Market Dynamics
The global wireless electric vehicle charging market has been experiencing high investments in research and development. While there are only a few international players in this market, the presence of a large pool of local players intensifies the competition. This, in turn, boosts the market’s growth significantly. Apart from this, the alarming rise in the carbon emission from petrol and diesel vehicles is fuelling the demand for electric vehicles across the world, which, eventually, is boosting the need for wireless electric vehicle charging devices. Together with the increasing implementation of stringent regulations for environmental safety, this factor is likely to propel this market in the near future.
Asia Pacific to Occupy Top-most Position
North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa are the main geographical segments of the global wireless electric vehicle charging market. Among these, Asia Pacific has surfaced as the most promising regional wireless electric vehicle charging market. The considerable rise in the number of favorable government initiatives and the increasing uptake of high-end technology by electric vehicle manufacturers in this region is the main factor behind the growth of the Asia Pacific wireless electric vehicle charging market.
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Among other regional wireless electric vehicle charging markets, Europe is displaying a decent growth rate. The increasing uptake of electric vehicles in European countries with high urban population, such as the U.K. and Norway, is supporting the Europe wireless electric vehicle charging market. With the augmenting awareness among consumers, this demand is likely to increase further, impacting this regional market positively in the near future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.