Need or Demand of Wireless EV Charging in Market - Research Report by P&S Intelligence

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The increasing adoption of plug-in electric vehicles (PEVs) is one of the biggest factors responsible for the surging demand for wireless electric vehicle (EV) charging stations across the world. For instance, in China, the sales of plug-in EVs were recorded to rise by almost 83% from 2017 to 2018. Moreover, the country observed 1.1 million sales of electric cars in 2018. Furthermore, 384,040 units of plug-in electric vehicles were sold in Europe in 2018, exhibiting an almost 33% rise in the sales of EVs from the previous year.

Due to the increasing sales of electric vehicles, there has been a huge rise in the production of fast charging stations across the globe. Many charging station producing companies are increasingly making huge investments in research and development (R&D) in wireless technology. The dynamic wireless charging devices allow the efficient charging of EVs even while the vehicle is being driven. The other important factor boosting the popularity of wireless charging stations is their higher user-friendly traits and ease of handling as compared to the conventionally used charging systems.

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Driven by the above-mentioned factors, the sales of wireless electric vehicle charging stations will increase considerably over the coming years, which will in turn, increase the revenue of the global wireless electric vehicle (EV) charging market tremendously during the forecast period (2020—2030). Wireless electric vehicle charging is an innovative technology that is rapidly replacing the traditional method of EV charging. This type of charging removes the requirement of large battery capacities and allows the EV to operate like the conventionally used internal combustion engines (ICE)-based automobiles.

The global wireless EV charging market is at its developing phase, with limited companies offering the inductive charging technology. Evatran Group Inc. is developing wireless charging for passenger cars, such as BMW i3, Tesla Model S, BMW i3, Gen 1 Chevrolet Volt, and BMW i3. WiTricity Corporation is offering inductive chargers for passenger cars and sport utility vehicles (SUVs) and is working with Nissan Motor Co. Ltd, Honda Motor Co. Ltd, General Motors Company, Hyundai Motor Company, and Furukawa Electric Co. Ltd. Other significant players include HEVO Inc., Qualcomm Technologies Inc., Bombardier Inc., Siemens AG, BMW AG, Momentum Dynamics Corporation, Conductix-Wampfler GmbH, and ELIX Wireless Charging Systems.

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