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
Asia-Pacific Wireless Charging for EVs Market- Restraints
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