Global In-Car Wireless Charging Market Overview:
In-Car Wireless Charging Market Size was valued at USD 1.93 billion in 2022. The In-Car Wireless Charging market is projected to grow from USD 1.98 Billion in 2023 to USD 2.55 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.72% during the forecast period (2023 - 2030). Quick technological progress, major firms' growing interest in the market, and increasing government subsidies are the key market drivers enhancing the In-Car Wireless Charging market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In-Car Wireless Charging Market Trends
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Electric Vehicle Wireless Charging Market Growth Likely to Be Driven by Increase in Electric Vehicle Sales will boost the market growth
Global sales of electric cars climbed by 41% to roughly 3 million units in 2022 from the previous year. The environment of government policy continues to be a primary driver of the increase in electric cars. Other reasons for boosting EV sales include expanded charging infrastructure, an increase in demand and supply-side variables, price parity with conventional vehicles thanks to federal subsidies, manufacturer outreach programs, and falling battery prices. The electric car wireless charging market is predicted to expand in the upcoming years as more electric vehicles are put on the road. Thus, this factor is driving the In-Car Wireless Charging market CAGR.
EVs are low-emission, environmentally friendly, and effective cars that will shape the automobile industry's future. The plug-in and wireless power transmission methods are used to charge electric vehicles. In the plug-in technique, an electric vehicle's battery is charged via a cord or plug at the Charging station. In contrast, an electric car's battery is charged using wireless power transmission in the wireless charging technique. The wireless charging technique is superior to cable charging in several ways. The absence of carrying and storing cords is the main benefit of using wireless Charging. By doing this, the possibility of wires wearing out over time is often avoided. Governments all around the world have launched a variety of programs and activities to persuade consumers to select electric vehicles over conventional ones. One such program that encourages the purchase of electric vehicles is the California ZEV program, which intends to have 1.5 million electric vehicles on the road by 2025. India, China, the United Kingdom, Korea, France, Germany, Norway, the Netherlands, and other nations offer various incentives to citizens who want to purchase electric vehicles. Thus, this aspect is anticipated to accelerate the In-Car Wireless Charging market revenue globally.
In-Car Wireless Charging Market Segment Insights:
In-Car Wireless Charging Technology Insights
Based on Technology, the In-Car Wireless Charging Market segmentation includes Inductive Power Transfer, Conductive Charging and Magnetic Resonance Charging. The Inductive Power Transfer segment held the majority share in 2022, contributing to around ~65-67% of the In-Car Wireless Charging Market revenue. Inductive power transfer, the most straightforward technique, now holds the biggest market share in the technology sector. Moreover, a higher CAGR of 42.7% is expected for magnetic resonance Charging throughout the study period.
Figure 1: In-Car Wireless Charging Market, by Technology, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In-Car Wireless Charging Standard Insights
Based on Charging Standards, the In-Car Wireless Charging Market segmentation includes Qi Standard and PMA Standards. The Qi Standard segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The QI standard, which combines induction and resonance technologies, now holds the biggest market share in the standard charging dividend. Also, it is applied by smartphone producers.
In-Car Wireless Charging Device Type Insights
The In-Car Wireless Charging Market data has been bifurcated by Device Type into Smartphones and Other Devices. The Smartphones segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Smartphones hold the biggest market share regarding device type dividends because of the availability of wireless charging technologies.
In-Car Wireless Charging Vehicle Type Insights
The global In-Car Wireless Charging industry has been segmented based on Vehicle Type into Fuel Based, Electric Vehicle and Hybrid Vehicles. Fuel Based held the largest segment share in 2022. The fuel-based vehicle type now holds the biggest market share in the vehicle type dividend. Additionally, electronic vehicle types have also seen a consistent increase.
In-Car Wireless Charging Distribution Insights
Based on Distribution, the global In-Car Wireless Charging industry has been segmented into OEM and Aftermarket. The original equipment manufacturers market is anticipated to develop at a CAGR of 41.4% due to the rising demand for passenger and commercial cars. OEM currently holds the biggest market share in distribution channels. Due to the expansion of the global auto market and the growth in demand for these vehicles, the requirement for original equipment manufacturer parts in passenger automobiles has grown significantly.
In-Car Wireless Charging Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America In-Car Wireless Charging market accounted for USD 1.60 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. North America now holds the greatest global in-car wireless charging industry market share. The acceptance of the newest technologies and the presence of global automakers drive market expansion in this area.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: In-Car Wireless Charging Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In 2022, Europe In-Car Wireless Charging market held a significant share accounting for more than 25% of total sales. The integration of wireless charging infrastructure across the Region is made possible by the presence of reliable infrastructure. Moreover, the surge in EV sales and European government initiatives to evaluate the viability of wireless Charging for electric vehicles would propel the European market. Furthermore, it is anticipated that significant businesses like HELLA KGaAHueck & Co., Continental AG, and Robert Bosch GmbH would hasten market expansion in the area. Further, the Germany In-Car Wireless Charging market held the largest market share, and the UK In-Car Wireless Charging market was the fastest-growing market in the European Region.
From 2021 to 2028, Asia Pacific In-Car Wireless Charging market is anticipated to become one of the revenue-producing areas. This increase is credited with the adoption of high-end technological items by electric car manufacturers and government attempts to promote charging infrastructures. Moreover, China's In-Car Wireless Charging market held the largest market share, and the In-Car Wireless Charging market was the fastest growing market in the Asia-Pacific region.
In-Car Wireless Charging Key Market Players & Competitive Insights
Leading market players invest a lot of money in R&D to expand their product portfolios, which will spur further market growth for In-Car Wireless Charging. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market developments are also undertaking various strategic activities to expand their global presence. In order to grow and remain in a market that is becoming more and more competitive, In-Car Wireless Charging industry competitors must provide affordable products.
Manufacturing locally to cut operational costs is one of the main business tactics the In-Car Wireless Charging industry uses to serve customers and increase the market sector. The In-Car Wireless Charging industry has recently given medicine some of the most important advantages. The In-Car Wireless Charging market major player such as Aircharge (UK), Power Square (India), Mojo Mobility, Inc. (US), Apple Inc. (US), Qualcomm Technologies, Inc. (US), Powermat Technologies Ltd. (Israel), Infineon Technologies AG (Germany), Zens (The Netherlands), Samsung Electronics Co., Ltd (South Korea), Hella kGaA Hueck & Co. (Germany), and others are working on expanding the market demand by investing in research and development activities.
Toyota Motor Company is a global Japanese automaker with its main offices in Toyota City, Aichi, Japan. Kiichiro Toyoda established it and became a corporation on August 28, 1937. One of the biggest automakers in the world, Toyota produces around 10 million automobiles annually. Toyota Motor Company began research on creating a dynamic wireless power transfer technology that charges automobiles while they were being driven themselves in December 2021. Using this method, automobiles may be charged while driving on highways, city junctions, or roads.
American wireless charging technology business WiTricity Corporation is headquartered in Watertown, Massachusetts. Professor Marin Soljai launched the Massachusetts Institute of Technology offshoot in 2007. WiTricity made the South Korean market aware of their unique technique for wireless BEV charging in October 2021. The Hyundai Genesis GV60, the first battery-electric car from the Hyundai Genesis line to be released in 2018, will use this wireless charging technology. The Genesis GV60 will be originally offered in South Korea by 2022.
Key Companies in the In-Car Wireless Charging market include
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Aircharge (UK)
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Power Square (India)
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Mojo Mobility, Inc. (US)
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Apple Inc. (US)
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Qualcomm Technologies, Inc. (US)
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Powermat Technologies Ltd. (Israel)
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Infineon Technologies AG (Germany)
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Zens (The Netherlands)
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Samsung Electronics Co., Ltd (South Korea)
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Hella kGaA Hueck & Co. (Germany)
In-Car Wireless Charging Industry Developments
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February 2021: ElectReon will establish road charging TechnologyTechnology as part of a project for road innovation financed by the German Federal Highway Research Institute (Israel).
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May 2021: A ground-mounted pad that HEVO created and began producing at the Flex contract manufacturing plant in Austin, Texas, is anticipated to fulfill a first-quarter 2021 order for 200 units.
In-Car Wireless Charging Market Segmentation:
In-Car Wireless Charging Technology Outlook
In-Car Wireless Charging Standard Outlook
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Qi Standard
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PMA Standards
In-Car Wireless Charging Device Type Outlook
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Smartphones
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Other Devices
In-Car Wireless Charging Vehicle Type Outlook
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Fuel Based
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Electric Based
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Hybrid Vehicles
In-Car Wireless Charging Distribution Outlook
In-Car Wireless Charging Regional Outlook
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North America
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD3.5 billion |
| Market Size 2023 |
USD 4.92 billion |
| Market Size 2030 |
USD 38.39 billion |
| Compound Annual Growth Rate (CAGR) |
45.80% (2023-2030) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Historical Data |
2019 - 2021 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product Type, Operating Platforms, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Aircharge (UK), Power Square (India), Mojo Mobility, Inc. (US), Apple Inc. (US), Qualcomm Technologies, Inc. (US), Powermat Technologies Ltd. (Israel), Infineon Technologies AG (Germany), Zens (The Netherlands), Samsung Electronics Co., Ltd (South Korea), Hella kGaA Hueck & Co. (Germany) |
| Key Market Opportunities |
The rising sales of passenger cars in China, Mexico and India. |
| Key Market Dynamics |
Quick advances in TechnologyTechnology. An intensifying level of interest in the market by top companies. Growing government subsidies. |
Frequently Asked Questions (FAQ) :
The In-Car Wireless Charging Market size was valued at USD 3.5 Billion in 2022.
The In-Car Wireless Charging Market is projected to grow at a CAGR of 45.80% during the forecast period, 2022-2030.
North America had the largest share in the In-Car Wireless Charging Market.
The key players in the In-Car Wireless Charging market are Aircharge (UK), Power Square (India), Mojo Mobility, Inc. (US), Apple Inc. (US), Qualcomm Technologies, Inc. (US), Powermat Technologies Ltd. (Israel), Infineon Technologies AG (Germany), Zens (The Netherlands), Samsung Electronics Co., Ltd (South Korea), Hella kGaA Hueck & Co. (Germany).
The Inductive power transfer category dominated the In-Car Wireless Charging market in 2022.
The fuel-based had the largest share in the In-Car Wireless Charging Market.
