Global Automotive Inductive Wireless Charging System Market Overview
As per MRFR analysis, the Automotive Inductive Wireless Charging System Market Size was estimated at 1.09 (USD Billion) in 2022. The Automotive Inductive Wireless Charging System Market Industry is expected to grow from 1.42(USD Billion) in 2023 to 14.9 (USD Billion) by 2032. The Automotive Inductive Wireless Charging System Market CAGR (growth rate) is expected to be around 29.84% during the forecast period (2024 - 2032).
Key Automotive Inductive Wireless Charging System Market Trends Highlighted
The Automotive Inductive Wireless Charging System market is experiencing a surge in demand due to advancements in wireless charging technology and increasing government regulations promoting electric vehicles. Key market drivers include the growing popularity of plug-in hybrid and pure electric vehicles, the need for convenient charging options, and the rising demand for hands-free driving experiences.
Opportunities exist in developing high-efficiency charging systems and smart charging infrastructure to enhance energy management. Trends in recent times include the integration of wireless charging technology with vehicle-to-grid systems, enabling bidirectional energy flow. Additionally, the proliferation of smart devices and the increasing demand for seamless charging experiences are driving the development of more user-friendly and efficient wireless charging systems.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Inductive Wireless Charging System Market Drivers
Rising Demand for Electric Vehicles
One of the key drivers for the automotive inductive wireless charging systems market is the increasing adoption of electric vehicles . Many governments across the globe have implemented or are in the process of implementing increasingly stringent regulations on vehicle emissions. Additionally, consumers are becoming more environmentally cautious, which is expected to drive the demand for electric vehicles over the next few years. Inductive wireless charging systems use coils placed between the power source and the battery of the EV. This helps charge the battery of the EV without the need for cumbersome cables and plugs. The convenience factor is expected to ensure that the inductive wireless charging systems are widely adopted across the automotive industry.
Advancements in Wireless Charging Technology
Additionally, the automotive inductive wireless charging system market is being supported by the latest developments in wireless charging technology. These developments include better charging efficiency, improved power transfer range, as well as foreign object detection. Thanks to the rapid evolution of wireless charging technologies, the use of such systems in automotive applications is getting more advantageous and feasible. This is expected to promote the growth of the inductive wireless charging system market in the automotive sector even more.
Government Support and Incentives
Governments worldwide are implementing various policies and incentives to promote the adoption of EVs and related technologies. These policies include tax breaks, subsidies, and infrastructure investments. Such government support is expected to create a favorable environment for the growth of the automotive inductive wireless charging system market. By providing financial incentives and encouraging the development of charging infrastructure, governments are playing a crucial role in driving the adoption of inductive wireless charging systems in the automotive industry.
Automotive Inductive Wireless Charging System Market Segment Insights:
Automotive Inductive Wireless Charging System Market Power Level Standards Insights
The Automotive Inductive Wireless Charging System Market is segmented by Power Level Standards into IEC 61980 Qi, Alliance for Wireless Power, Power Matters Alliance, and Wireless Power Consortium. The aforementioned growth is attributed to the rising adoption of Qi-enabled smartphones and growing demand for wireless charging in electric vehicles. Similarly, the market for A4WP is also anticipated to proliferate from USD 0.3 billion in 2023 to USD 3.2 billion by 2032, at a CAGR of 27.4%. The PMA market is anticipated to expand from USD 0.2 billion in 2023 to USD 2.1 billion by 2032, at a CAGR of 25.6%.
The market for WPC is also anticipated to expand from USD 0.1 billion in 2023 to USD 1.3 billion by 2032, at a CAGR of 23.4%. All the aforestated power level standards have some unique pros and cons. Specifically, Qi is the most adopted standard and it has most devices that support it. A4WP is a relatively younger standard and most devices that may support the fast charging do not include it. PMA is a standard in which most of the implementation occurs in the automotive industry.
Moreover, WPC is a standard in which many devices, both consumer devices and large industrial machines, make use of the standard.The most notable drivers that are proliferating the growth of the Automotive Inductive Wireless Charging System Market involve increasing popularity of electric vehicles, increasing demand for functionality to wireless charge smartphones and other handheld devices, and increasing deployment of wireless charging infrastructure. The market is expected to continue quickly growing in the near future as the need for wireless charging continues to increase
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Inductive Wireless Charging System Market Receiver Coil Type Insights
The Receiver Coil Type segment of the Automotive Inductive Wireless Charging System Market is segmented into Planar, Helix, and Printed Circuit Board (PCB). Planar coils are the most common type of receiver coil, and they are typically used in low-power applications. Helix coils are more efficient than planar coils, but they are also more expensive. PCB coils are the most expensive type of receiver coil, but they offer the highest level of efficiency. The Planar coil segment is expected to account for the largest share of the Automotive Inductive Wireless Charging System Market in 2023.
The Helix coil segment is expected to grow at the highest CAGR during the forecast period. The Printed Circuit Board (PCB) coil segment is expected to account for the smallest share of the Automotive Inductive Wireless Charging System Market in 2023. The growth of the Receiver Coil Type segment is being driven by the increasing adoption of electric vehicles. Electric vehicles require wireless charging systems to charge their batteries.
The Receiver Coil Type segment is also being driven by the development of new wireless charging technologies. These new technologies are making wireless charging more efficient and convenient. The Receiver Coil Type segment is a key part of the Automotive Inductive Wireless Charging System Market. The segment is expected to grow significantly in the coming years.
Automotive Inductive Wireless Charging System Market Application Insights
The Automotive Inductive Wireless Charging System Market segmentation by application includes passenger vehicles, commercial vehicles, and public transportation. Passenger vehicles have dominated the market and are expected to witness significant growth in the coming years due to increasing demand for convenience and enhanced driving experiences. The rising adoption of electric and hybrid vehicles is further driving the demand for wireless charging systems in passenger vehicles. Commercial vehicles, including delivery vans and trucks, are also expected to witness growth in the wireless charging market as they require efficient and reliable charging solutions. Public transportation, such as buses and trains, is another emerging segment that is expected to drive market growth due to the growing need for sustainable and efficient charging infrastructure in public transportation systems.
Automotive Inductive Wireless Charging System Market Installation Location Insights
The Automotive Inductive Wireless Charging System Market is segmented by Installation Location into Roof-Mounted, Under-Vehicle, and Ground-Based. Among these segments, the Under-Vehicle segment is projected to hold the largest market share of 42.5% by 2032. The growth of this segment can be attributed to the increasing adoption of under-vehicle wireless charging systems by automotive manufacturers due to their advantages such as improved efficiency, reduced installation time, and enhanced safety.
The Roof-Mounted segment is expected to witness a significant growth rate during the forecast period. The increasing demand for electric vehicles and the need for convenient charging solutions are driving the growth of this segment. Additionally, the availability of government incentives and subsidies for the adoption of electric vehicles is further boosting the growth of the Roof-Mounted segment. The Ground-Based segment is expected to account for a smaller share of the Automotive Inductive Wireless Charging System Market. However, this segment is expected to register a steady growth rate during the forecast period due to the increasing adoption of wireless charging systems in public places such as parking lots and shopping malls.
Automotive Inductive Wireless Charging System Market Regional Insights
The Automotive Inductive Wireless Charging System Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to hold the largest market share in the coming years. The growth of the APAC market is attributed to the increasing adoption of electric vehicles in the region. China is the largest market for electric vehicles in APAC, and the country is also expected to lead the growth of the automotive inductive wireless charging system market in the region. The European market is also expected to grow at a significant pace in the coming years.The growth of the European market is attributed to the increasing demand for electric vehicles in the region. Norway is the largest market for electric vehicles in Europe, and the country is also expected to lead the growth of the automotive inductive wireless charging system market in the region. The North American market is also expected to grow at a significant pace in the coming years. The growth of the North American market is attributed to the increasing adoption of electric vehicles in the region. The United States is the largest market for electric vehicles in North America, and the country is also expected to lead the growth of the automotive inductive wireless charging system market in the region.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Inductive Wireless Charging System Market Key Players And Competitive Insights:
Major players in Automotive Inductive Wireless Charging System Market industry are focusing on developing innovative and efficient wireless charging systems to meet the growing demand for convenient and hassle-free charging solutions. Leading Automotive Inductive Wireless Charging System Market players are investing heavily in research and development to enhance the performance and reliability of their products. They are also forming strategic partnerships with automakers and technology providers to expand their market reach and gain a competitive edge. The Automotive Inductive Wireless Charging System Market Competitive Landscape is expected to remain highly competitive in the coming years, with new entrants and established players vying for market share.
A leading company in the Automotive Inductive Wireless Charging System Market is Qualcomm, which offers a range of wireless charging solutions for electric vehicles and plug-in hybrid electric vehicles. Qualcomm's Halo wireless charging system is designed to provide fast, efficient, and safe wireless charging for electric vehicles. The system uses magnetic resonance technology to transfer power wirelessly between the charging pad and the vehicle's receiver. Qualcomm has partnered with automakers such as Audi, BMW, and Mercedes-Benz to integrate its wireless charging systems into their electric vehicles.
A competitor in the Automotive Inductive Wireless Charging System Market is WiTricity, which offers a range of wireless charging systems for electric vehicles and industrial applications. WiTricity's wireless charging systems use magnetic resonance technology to transfer power wirelessly over distances of up to several meters. WiTricity has partnered with automakers such as Ford, General Motors, and Toyota to develop and integrate its wireless charging systems into their electric vehicles.
Key Companies in the Automotive Inductive Wireless Charging System Market Include:
- WiTricity
- Qualcomm Technologies
- HEVO
- Siemens
- Plugless Power
- A123 System
- Magne Charge
- Elix
- Continental AG
- Samsung
- Power Electronics
- Evatran
- TDK Corporation
- Delphi Automotive
- Momentum Dynamics
Automotive Inductive Wireless Charging System Market Industry Developments
The Automotive Inductive Wireless Charging System Market is anticipated to grow significantly between 2024 and 2032, reaching a value of USD 14.9 billion by 2032. The market is driven by rising demand for electric vehicles and increasing adoption of wireless charging technology. Major players in the market include Qualcomm, Samsung, and Toyota.
Recent developments include the launch of new wireless charging systems with higher power output and efficiency, as well as partnerships between automakers and wireless charging infrastructure providers. Key market trends include the integration of wireless charging systems into electric vehicles, the development of interoperable charging standards, and the expansion of wireless charging infrastructure.
Automotive Inductive Wireless Charging System Market Segmentation Insights
Automotive Inductive Wireless Charging System Market Power Level Standards Outlook
- IEC 61980 Qi
- Alliance for Wireless Power (A4WP)
- Power Matters Alliance (PMA)
- Wireless Power Consortium (WPC)
Automotive Inductive Wireless Charging System Market Receiver Coil Type Outlook
- Planar
- Helix
- Printed Circuit Board (PCB)
Automotive Inductive Wireless Charging System Market Application Outlook
- Passenger Vehicles
- Commercial Vehicles
- Public Transportation
Automotive Inductive Wireless Charging System Market Installation Location Outlook
- Roof-Mounted
- Under-Vehicle
- Ground-Based
Automotive Inductive Wireless Charging System Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.09(USD Billion) |
| Market Size 2023 |
1.42(USD Billion) |
| Market Size 2032 |
14.9(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
29.84% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
WiTricity, Qualcomm Technologies, HEVO, Siemens, Plugless Power, A123 System, Magne Charge, Elix, Continental AG, Samsung, Power Electronics, Evatran, TDK Corporation, Delphi Automotive, Momentum Dynamics |
| Segments Covered |
Power Level Standards, Receiver Coil Type, Application, Installation Location, Regional |
| Key Market Opportunities |
Growth in electric vehicle adoption Technological advancements Government initiatives Rising demand for convenience features Increasing infrastructure for wireless charging |
| Key Market Dynamics |
Rising adoption of electric vehicles Growing government support for EV infrastructure Technological advancements in wireless charging |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Inductive Wireless Charging System market is estimated to be worth USD 1.42 billion in 2023 and is projected to reach USD 14.9 billion by 2032, exhibiting a CAGR of 29.84% during the forecast period.
The Asia Pacific region is expected to hold the largest market share in the Automotive Inductive Wireless Charging System market, owing to the increasing adoption of electric vehicles and the presence of major automotive manufacturers in the region.
The key growth drivers of the Automotive Inductive Wireless Charging System market include the rising demand for electric vehicles, the increasing adoption of wireless charging technology, and government initiatives to promote the adoption of EVs.
The major applications of Automotive Inductive Wireless Charging Systems include passenger cars, commercial vehicles, and public transportation.
The key competitors in the Automotive Inductive Wireless Charging System market include Qualcomm, Samsung, HEVO Power, WiTricity, and Momentum Dynamics.
The Automotive Inductive Wireless Charging System market is expected to reach USD 3.8 billion by 2025.
The Automotive Inductive Wireless Charging System market is expected to reach USD 10.2 billion by 2030.
The Automotive Inductive Wireless Charging System market is expected to grow at a CAGR of 29.84% during the forecast period.
The challenges faced by the Automotive Inductive Wireless Charging System market include the high cost of wireless charging systems, the limited availability of charging stations, and the lack of standardization.
The opportunities for the Automotive Inductive Wireless Charging System market include the increasing adoption of electric vehicles, the growing demand for wireless charging technology, and the development of new and innovative wireless charging systems.
