Japan Wireless Electric Vehicle Charging Market
Japan's wireless electric vehicle charging market is developing as the country explores new technologies to support its growing EV market. Japanese automakers and technology companies are working on wireless charging solutions to enhance the convenience of EV ownership. The market is expected to grow as wireless charging infrastructure is expanded across the country.
A wireless electric vehicle is possible because of the concept of inductive coupling. An electric current passes through a device, and the device stores the energy for use for charging at a later date. The process can work only if an energy transfer station is present that allows electrical energy to be transferred between two objects.
More people worldwide are buying electric vehicles, which is part of what has been driving growth for wireless electric vehicle charging stations. More than 2.1 million electric vehicles were sold around the world, and that was in 2019.
There is an opportunity for growth in the market. It comes in the fact that electric vehicles are increasing in popularity, and electric cars are becoming more efficient in running for longer between chargings.
Many governments have been actively trying to promote the usage of electric vehicles by passing legislation that favors them. People are also becoming more aware of different solutions to use for transportation. It’s another factor that has been driving growth in the market. The Wireless Electric Vehicle Charging Market was worth USD 4.26 billion in 2020. It is expected to be worth USD 42.62 billion in 2030. The global market is expected to register a CAGR of 26.2% for the forecast period.
Segment overview
The global Wireless Electric Vehicle Charging Market can be separated into dynamic wireless and stationary wireless electric by charging type. The former sub-segment is projected to command the largest market share in the short-term future.
The global Wireless Electric Vehicle Charging Market can be separated into 3 to 7.7 KW and 11-20 KW. 20-50 KW, and 50 and above by power supply range. Each sub-segment is expected to command equal market shares and register similar CAGRs for the forecast period.
The global Wireless Electric Vehicle Charging Market can be separated into commercial and home charging stations by charging station. Both sub-segments are expected to register equal CAGRs and command equal market shares for the forecast period.
The global Wireless Electric Vehicle Charging Market can be separated into base charging pads, power control units, and vehicle charging pads by charging pads.
The global Wireless Electric Vehicle Charging Market can be separated into the battery and plug-in electric vehicles by propulsion. The lithium-ion battery sub-segment is proliferating and is expected to drive the overall CAGR for wireless electric cars.
The global Wireless Electric Vehicle Charging Market can be separated into passenger and commercial vehicles by type. More people are moving about in the post-pandemic period. This is expected to make up for the dramatic decrease in demand for passenger cars that the pandemic period created.
The global Wireless Electric Vehicle Charging Market can be separated into OEM and aftermarket by application.
The global Wireless Electric Vehicle Charging Market can be grouped into North America, the European Union, Asia-Pacific, and the rest of the world by geographic location.
Regional analysis
The Asia-Pacific region is expected to register the highest regional CAGR for the forecast period. The reason is that fast economic growth in most Asian nations translates into a rapidly growing and weather middle class that demands these types of vehicles. It’s especially the case in China and Japan.
Wireless electric vehicles are growing in popularity in the Asia-Pacific region partly because more people are aware of the harmful effects of pollution, urbanization, and industrialization in the region. They see wireless electric vehicles as a way to reduce these.
Industry news
Robert Bosch GMBH recently started charging $3000 to $4000 for charging wireless electric vehicles.
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