Wireless Electric Vehicle Charging Market Size, Share & Industry Analysis, By Power Supply (3-<11 KW, 11-50 KW, >50 KW), By Application (Commercial Charging Station, Home Charging Unit), By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecasts, 2021-2028

The global wireless electric vehicle charging market size was USD 16.5 million in 2020 and is projected to grow from USD 18.6 million in 2021 to USD 221.0 million in 2028 at a CAGR of 42.4% during the 2021-2028 period. The Europe dominated the automotive exhaust system market with a share of 41.87% in 2020.

The global impact of COVID-19 has been unprecedented and staggering, with wireless charging for Electric Vehicle (EV) witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of 4.12% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

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Global Wireless EV Charging Market Overview

Market Size:

• 2020 Value:USD 16.5 million
• 2021 Value:USD 18.6 million
• 2028 Forecast Value:USD 221.0 million, with a CAGR of 42.4% from 2021–2028 

Market Share:

• Regional Leader (2020): Europe dominated the market in 2020 with a share of approximately 41.9%, valued at USD 6.91 million
• Fastest‑Growing Region: Europe led early on; however, the report does not explicitly name a fastest-growing region over the forecast period
• End‑User Leader (by Vehicle Type): The passenger cars segment held the largest share in 2020 and is expected to remain dominant through 2028

Industry Trends:

• Accelerating vehicle electrification and R&D in wireless charging technology are key market drivers
• Power Supply Trends:The 3–<11 kW segment led share in 2020, while the 11–50 kW segment is projected to grow fastest between 2021–2028
• Application Trends: Among use cases, commercial charging stations are expected to register the highest CAGR, driven by demand in public and fleet infrastructure settings

Driving Factors:

• Growth Drivers: Rising EV adoption, increasing infrastructure demand for smart mobility, and ongoing tech innovation are fueling expansion
• Challenges: High implementation costs, vehicle hardware upgrade requirements, and generational upgrade complexity remain key restraints on adoption

Wireless EVcharging offers several advantages, including ease of use, time saving, and aesthetics. At present, wireless electric vehicle charging is still in an early stage of development. Rapid technological changes, growing focus on research and development (R&D) activities, and stringent emission norms are projected to drive the market. Moreover, unlike wired electric vehicle charging stations, wireless electric vehicle charging is about transmitting energy without cables from a power source to a vehicle. Since this wireless charging technology is reliable, convenient, and cost-effective in the long-run, wireless electric vehicle charging is expected to gain prominence in the coming years.

Wireless electric vehicle charging is expected to be attractive for certain vehicle types with defined routes, such as public buses, and it has also been proposed for future electric highway lanes. For instance, in September 2021, Michigan state’s government launched a pilot project to build a wireless charging road for EVs in Metro Detroit. Similarly, Sweden has successfully tested wireless electric roads for trucks & buses. Hence, such initiatives play an important role in driving the global market.

COVID-19 IMPACT

COVID-19 Pandemic has Slightly Impacted the Wireless Electric Vehicle Charging Market

In 2020, due to the COVID-19 crisis, the global auto part and vehicle manufacturing industries were facing a slowdown, owing to lockdown in various countries that restricted EV production. The demand for EV charging infrastructure has been impacted considerably. Major investments for installing electric vehicle charging infrastructure have halted as most EV supply equipment manufacturers globally have been affected, owing to nationwide lockdowns and government restrictions.

Moreover, the operations of some key companies have been impacted by the COVID-19 pandemic such as Tesla, Inc., Daimler AG, BMW AG, Kia Motors Corp., and Nissan Motor Co. Most of these players have shut down their EV production facilities and shifted their effort toward manufacturing personal protective systems. However, the market is expected to bounce back after the crisis; with the gradual removal of lockdowns in various countries, the demand for Electric Vehicle Supply Equipment (EVSE) has slightly increased, which is estimated to propel the market from 2021 to 2028.

KEY TRENDS AND TECHNOLOGICAL ADVANCEMENTS IN THE WIRELESS EV CHARGING MARKET

Surge in Electric Vehicle Sales Expected to Drive Wireless Electric Vehicle Charging Market Growth 

In 2020, global electric vehicles sales increased by 41% to about 3 million from the preceding year. The growth in the number of electric vehicles is still majorly driven by the government policy environment. Further, improved charging infrastructure, surge in both demand and supply-side factors, price parity with conventional vehicles due to federal incentives, outreach by manufacturers, and decreasing electric vehicle battery costs are driving EV sales. As more electric vehicles come on the road, the market for wireless electric vehicle charging is also anticipated to witness growth in the coming years.

GROWTH DRIVERS: WHAT’S FUELING THE WIRELESS EV CHARGING MARKET EXPANSION?

Rapid Development of Fast-Charging Infrastructure for Electric Vehicles

The increasing number of electric vehicle owners necessitates more public charging facilities. As the electric vehicle base grows and continues to electrify more use cases, the demand for public fast charging is expected to rise in the coming years. Electric vehicles can be charged whenever and wherever they are parked, and electric vehicle owners should not have to worry themselves with the grid connection; EV batteries can charge automatically. The wider adoption of wireless electric vehicle charging solutions worldwide helps reduce air pollution. Therefore, these factors play an important role in driving the global market.

MARKET CHALLENGES: BARRIERS TO WIDESPREAD WIRELESS EV CHARGING ADOPTION

High Cost of Upgrading to Wireless Charging Technology

The issues of safety and cost of wireless charging systems since high voltage and high power necessary for EV charging are projected to hinder the market growth. Further, the wireless charging solution also necessitates an extra charger to be installed into the electric vehicle, thereby increasing the overall vehicle cost. These factors, in turn, are estimated to restrain the market growth in the coming years. Additionally, the upgrade of a wireless electric vehicle charger to the latest generation is more complex than the case of a wired charger, which may limit the market growth over the forecast period.

SEGMENTATION

By Power Supply Analysis

3–<11KW Segment to Dominate Owing to the Increasing Adoption of this Power Solution Category

Based on power supply, the market is segmented into 3–<11 KW, 11–50 KW, and >50 KW. The 3–<11 KW segment held a major wireless electric vehicle charging market share in 2020 and is expected to be the second-fastest-growing market in the coming years. Moreover, the 11–50 KW power supply segment is projected to be the fastest-growing market from 2021 to 2028.The fastest growth of the 11–50 KW power supply segment is primarily attributed to the increasing adoption of electric vehicles with high battery capacities and power requirements.

By Application Analysis

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Commercial Charging Station is Expected to Register the Fastest Growth Due to its Increased Demand

Based on application, the wireless charging for electric vehicle market is segmented into commercial charging station and home charging unit. The commercial charging station segment is anticipated to register the highest CAGR of over 44.4% due to the growing need to develop electric vehicle charging infrastructure at public places, high demand for commercial wireless electric vehicle charging systems across China, and high proliferation of commercial wireless electric vehicle charging systems in Europe. Further, the fastest growth of this segment is mainly attributed to the presence of large commercial garage parking spaces and densely populated urban areas.

By Vehicle Type Analysis

Passenger Car Segment is Expected to Hold the Largest Market Share Due to Increased Demand and Sales

Based on vehicle type, the market is segmented into commercial vehicles and passenger cars. In 2020, the passenger cars segment held the highest share in the global market. The growth of the passenger cars segment can be attributed to increasing sale of passenger cars across the globe that is directly contributing to the market growth. Further, the commercial vehicles segment is estimated to be the highest growing market from 2021 to 2028.

REGIONAL INSIGHTS: WIRELESS EV CHARGING MARKET DYNAMICS ACROSS KEY GEOGRAPHIES

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Europe dominated the market in 2020 and accounted for a revenue share of more than 41%. The availability of sound infrastructure allows the integration of wireless charging infrastructure throughout the region. Further, the European government initiatives for testing the feasibility of wireless electric vehicle charging and growth in EV sales are expected to drive the market growth in Europe. Moreover, the presence of major companies, such as HELLA KGaAHueck& Co., Continental AG, and Robert Bosch GmbH, is projected to accelerate the market growth in the region.

Asia Pacific is projected to emerge as one of the most profitable regions in revenue in the coming years from 2021 to 2028. This upsurge is attributed to the adoption of high-end technology products by electric vehicle manufacturers and government initiatives to encourage charging infrastructures. Furthermore, innovation in driving technologies, increasing adoption of EVs, and rising automobile production are expected to surge the product demand in North America. The wireless charging for EV market in the U.S. is projected to grow significantly, reaching an estimated value of USD 66.42 million by 2028. 

KEY INDUSTRY PLAYERS

The major players in the market include HELLA GmbH & Co. KGaA, ZTE Corporation, WiTricity Corporation, Continental AG, and Robert Bosch GmbH. These players continuously focus on partnerships, acquisitions, new product development and launches, and expansion strategies to strengthen their market position. Further, Tesla is one of the leading players in this market. The company offers pure electric automotive equipped with advanced technology, including ADAS, telematics, connectivity to the internet & cloud, and others. With its expanding presence in the emerging markets, growing popularity, and technological advancement, Tesla is anticipated to continue its dominance over the forecast period.

LIST OF KEY COMPANIES PROFILEDs:

• WiTricity Corporation (U.S.)
• HELLA GmbH & Co. KGaA (Germany)
• ZTE Corporation (China)
• Continental AG (Germany)
• Robert Bosch GmbH (Germany)
• Tesla (U.S.)
• Momentum Dynamics Corporation (U.S.)
• Toyota Motor Corporation (Japan)
• Toshiba Corporation (Japan)
• TGOOD Global Ltd. (Hong Kong)

KEY INDUSTRY DEVELOPMENTS:

• January 2021 – Alibaba Partners with SAIC to Unveil Electric Car with Wireless Charging Alibaba Group Holding, a China-based e-commerce group, launched an electric car with wireless charging under the joint venture brand IM ‘intelligence in motion’ formed with SAIC Motor Corporation Ltd.
• February 2021 – IPT Group takes over PRIMOVE E-mobility Wireless Charging Technology Portfolio IPT Group acquired PRIMOVE to the scale-up its product portfolio in wireless power transfer for electric mobility. This acquisition helps to accelerate IPT’s offering of a complete product portfolio to serve several markets.

REPORT COVERAGE

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The report provides a detailed market forecast analysis of the market and focuses on key aspects such as leading companies, applications, and vehicle types. The report covers market statistics from 2017 to 2028. Further, the market report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.