October 2017

Asia-Pacific Wireless Charging Market for Electric Vehicles By Geography and Vendors Forecasts and Trends (2017 - 2022)

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The market for electric vehicle wireless charging in Asia-Pacific is worth an estimated USD XX million and is expected to grow at the rate of X.X% CAGR to USD XX million in 2020. It is expected that countries like Japan, India and China will lead in the adoption of this technology. 

Electric vehicles that use electricity as fuel are a route to reducing pollution from automobiles. These cars are particularly popular in the developed markets of Europe and North America, where the ecosystem for charging stations through employing plug-in electric vehicle (PEV) docks is developed. Apart from the high cost of electric vehicles, the primary concern for a number of prospective electric vehicle users has been the unavailability of PEV docks. As a result of the plugin aspect of electric vehicles, the electric automobile industry has faced formidable entry barriers. Some users park their vehicles outdoors where a car’s plugin and charging can be difficult, especially in adverse weather conditions, while others find the wires and docks to be a hassle.

All this has changed with the introduction of wireless charging for electric vehicles. While the technology has served smaller devices like smartphones in the past, it has only recently been applied to large vehicles. Amid the clamor for environmental concerns in the highly populated cities across the world, governments are insisting on stringent fuel efficiency norms. With the barrier of plugin charging no longer in its way, the market for electric vehicles is set to grow in leaps and bounds. The wireless charging technology makes it easy for people to find designated wireless charging stations and just park the vehicle over the charging pad without any hassle.

The first ever EV charger available commercially was Evatran’s Plugless L2 (Level 2) EV Charging System, which came with control panels that could be mounted on walls, a wireless transmitter for charging. As the production of both light and heavy electric vehicles will outpace traditional vehicle manufacturing, it is anticipated that the existent challenge of standardization will also be eliminated.

Asia-Pacific Wireless Charging for EVs Market- Drivers

  • Stringent regulations mandating reduction of vehicular pollution
  • Advancements in research, development and enhancement of electric vehicles
  • Set up and scaling of manufacturing of electric vehicles across the world
  • Rising disposable income and demand for electric cars
  • Progressive laws in developed and developing regions
  • Lowering of costs involved in EV manufacture

Asia-Pacific Wireless Charging for EVs Market- Restraints

  • High cost of electric cars, systems and associated components
  • Market still in development and technologies can be improved
  • Large low-income population
  • High level of income disparity, making market segmentation difficult
  • Lack of supportive infrastructure in some areas

Some of the key market players are:

  • BMW
  • Mercedes
  • Nissan
  • Plugless
  • Qualcomm
  • WiTricity

What the Report Offers

  • The report gives complete market insights, the driving forces of the market, the challenges it faces, wireless charging methodologies and their applications.
  • A complete market breakdown has been done by different geographies to give a detailed picture of the market in that particular region.
  • The report also gives information on major vendors of wireless charging technology in automobiles, strategies they adopt along with the major products, financials, recent developments and profile of these vendors.

Who should be Interested in this Report?

  • Vendors who are into the manufacturing of these products, so that they may acquire an overview of what competitors are doing and also which markets they can look forward to expanding their operations
  • Investors who are willing to invest in this market
  • Consultants who can have readymade analysis to guide their clients
  • Anyone who wants to know about this industry
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