Wireless Charging for Electric Vehicles
Wireless Charging Market for Electric Vehicles
Manufacturers understand that the consumers are ready to pay premium prices for a product that exactly serves the purpose. Reasons for this growth can be attributed to the massive research in the electric vehicle (EV) wireless technology, as electric vehicles are expected to be a vital part for the future of automotive industry. The spending trends on electric vehicles (EVs) can be understood by the fact that even sports car makers, such as McLaren, Ferrari, and Porsche, have started incorporating electric engines along with their supercharged petrol engines, to make their cars eco-friendly. Companies, such as Qualcomm, are leading the change to develop viable wireless charging technologies. Several car manufacturers, such as Nissan, Toyota, BMW, Audi, and Daimler, are actively researching this technology. With the massive R&D activities in the market, the global wireless charging for EV market is expected to register a CAGR of 48.1% by 2022.
DYNAMIC CHARGING: THE LATEST DEVELOPMENT
The use and demand for electric vehicles are growing, due to the environmental issues like global warming. However, these electric vehicles have issues such as the limited cruising range and infrastructure to charge them. In an attempt to remove the restriction on cruising range of EVs, Qualcomm has demonstrated a new wireless dynamic electric vehicle charging (DEVC) system at highway speeds. This new system is capable of charging an electric vehicle dynamically, at upto 20 KW at the speed of 100 km/h. Moreover, the company launched a simultaneous charging system that can charge dynamically, at the same time and on the same track. Two vehicles moving in the opposite direction can also use this new dynamic charging system.
Honda, one of the major players in the field of wireless charging, is researching new dynamic charging technology. The company is developing a new system that enables dynamic charging at a power of 180kW (300A, 600DC) when the vehicle is moving at a speed of 160km/h. The developments, associated with dynamic charging, are expected to act as a major driver for, both, electric vehicles and wireless charging market in the near future.
EUROPEAN REGION TO HOST THE ANTICIPATED DEMAND
Europe is expected to lead the manufacturing hubs for wireless charging technologies and anticipated to be one of the largest markets for EV wireless charging stations. This growth owes to the availability of viable infrastructures to support electric vehicle sales. Electric vehicles are considered to be a viable option for customers while purchasing a vehicle. The sales of electric vehicles in the European region has been on the rise, since last five years. The increasing sales of electric vehicles offer a number of opportunities for the development of wireless charging technologies and infrastructure, as they are hassle-free, and increase the range of vehicles.
ELECTRIC VEHICLE UNIT SALES IN EUROPE: 2011 - 2015
In Europe, trials are being conducted to test the Dynamic Charging, a wireless technology that can power the electric vehicles while it is moving. These trials are expected to continue till 2017. Furthermore, owing to the bandwagon effect, this technology has a probability of the adoption in most of the European countries like the United Kingdom, France, Germany, the Netherlands, and others.
NOTABLE MARKET DEVELOPMENTS
The Israeli government is collaborating with ‘ElectRoad’, a home grown start-up, to develop a public bus route in Tel Aviv. Using an under-the-pavement wireless charging technology, the government aims at eliminating the need for plug-in stations.
Ford is developing parks and charge places in the United States and Europe, where customers can locate there wireless charging parking spaces through the FordPass app.
BMW announced that its plug-in hybrid car ‘530e iPerformance’ will receive a wireless charging pad. Customers can install it in their garage and drive over the car, to provide it with power supply rates of around 3.2kW
Market Trends & dynamics
Latest News & developments
Porter’s five force analysis
WHY PURCHASE THIS REPORT?
How is wireless charging expected to grow and expand in the forecast period?
What are the prospects of Dynamic Charging, its feasibility and rate of adoption in different regions, across the globe?
What are the new electric model vehicles lined up for launch that supports wireless charging? When is BMW rolling out the option for wireless charging for its 530e iPerformance model?
What are the new technologies that are being developed by Qualcomm, to stay relevant in the field of wireless charging? Is it still going to be a pioneer in this field?
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook