The market for electric vehicles is expected to grow at a CAGR of 73.4% by 2020. The partnership between the German automotive giant Daimler AG and Qualcomm to test wireless charging technologies for both, in-car charging applications and wireless charging of electric vehicles is a major leap in the automotive wireless charging market for EVs. This is one of many partnerships being formed between automotive and technology-based companies to leverage a very exciting opportunity in a market that is expected to multiply rapidly over the next few years. Europe, along with North America, is the largest market for electric vehicles and is projected to be the epicenter of growth and activity by 2020.
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 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.
Sweden was the first country to pilot the use of wireless charging for electric cars, with WiCh research project taking the lead with partners Vattenfall, Stockholm Municipality, and others. The aim now is to make the existing electric vehicle infrastructure in Europe, the widest and most comprehensive in the world, wireless through affordable pricing. Germany, along with the United Kingdom and France, will be the biggest market for wireless charging due to a combination of economies of scale, high levels of income and being automotive manufacturing hubs.
Europe’s Wireless Charging for EVs Market- Drivers
Europe’s Wireless Charging for EVs Market -Challenges
The high cost of electric cars, systems and associated components making it prohibitive for a number of mass market users and a market still in development and technologies which can be improved are some of the bottlenecks for this market.
Some of the key players in the market are:
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