7039.25 thousand Units Gap in Automotive Inductive Wireless Charging Systems Market Growth Due to Rising Demand for Hybrid and Electric Vehicles

NEW YORK, July 25, 2022 /PRNewswire/ — The “Automotive Inductive Wireless Charging Systems Market by Application and Geography – Forecast and Analysis 2021-2025has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the systems market automotive inductive wireless charging systems between 2021 and 2025 is 7,039.25 thousand units, according to Technavio’s latest market analysis report.Technavio analysts have classified the global automotive inductive wireless charging systems market as part of the global automotive components and accessories market. 41% of market growth will come from North America during the forecast period, with the United States emerging as the major revenue-generating economy in the region. On-road dynamic wireless charging systems will fuel the growth of the automotive inductive wireless charging systems market by North America over the forecast period. The residential charging systems segment dominated the global market for automotive inductive wireless charging systems.

Technavio has announced its latest market research report titled Automotive Inductive Wireless Charging Systems Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

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Key Market Dynamics:

  • Market Driver: Rising demand for HEVs and electric vehicles is a major factor driving the growth of the global automotive inductive wireless charging systems market share. HEVs and EVs are primarily powered by batteries. The battery of hybrid vehicles must tolerate a large charge (due to sudden braking) and a large discharge (for a sudden increase in speed). In addition, the state of charge (SoC) should be maintained up to 80%, which will keep space for regenerative charging and, at the same time, discharge enough energy for a power increase. This growing demand for electric vehicles would increase the need for technological advancements such as inductive wireless charging in the global electric vehicle market.

  • Market Challenge: High installation cost will be a major challenge for the growth of the global automotive inductive wireless charging systems market share during the forecast period. With the introduction of new technologies, manufacturers or their supply chains often face certain barriers that can challenge the mass adoption of these technologies. The cost associated with implementing the technology on a commercial scale is relatively higher than conventional technology. This is due to the high cost of the components used in the manufacture and installation of the system. The huge price difference between wireless and wired charging systems is forcing end users to adopt wired systems, which poses a challenge for the growth of the market.

Key market dynamics and their impact analysis on the report are available in this report. Download the sample now!

Supplier Landscape

  • The Automotive Inductive Wireless Charging System 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 are expected to focus more on growth prospects in fast-growing segments, while maintaining their positions in slow-growing segments.

  • The Automotive Inductive Wireless Charging Systems Market forecast report offers in-depth information about key vendor profiles. Profiles include production, sustainability and outlook information for key companies.

Main companies mentioned with their offers

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Automotive Inductive Wireless Charging System Market Scope

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate to a CAGR of over 97.44%

Market Growth 2021-2025

7039.25 th units

Market structure

Concentrate

Annual growth (%)

54.50

Regional analysis

North America, Europe, APAC, South America and MEA

Successful market contribution

North America at 41%

Main consumer countries

United States, Germany, China, United Kingdom and Japan

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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 drivers and barriers, analysis of fast growing and slow growing segments, impact of COVID 19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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