Wireless EV Charging Market worth $407 million by 2025

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Wireless EV Charging Market worth 407 million
by 2025
www.MarketsandMarkets.com
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According to the new market research report
Wireless EV Charging Market by Charging Station
(Home, Commercial), Charging (Stationary,
Dynamic), Propulsion (BEV, PHEV), Power Supply
(3lt11 KW, 1150 KW, gt50 KW), Vehicle (CV, 2
wheeler), Component, Installation, and Region -
Global Forecast to 2025", published by
MarketsandMarkets, The wireless EV charging
market is projected to grow at a CAGR of 117.56
during the forecast period, to reach USD 407
million by 2025 from an estimated USD 8 million
in 2020. The demand for luxury EVs, increased EV
sales, government regulations to curb emissions,
and fast developing EV infrastructure are driving
the overall demand of the wireless EV charging
market. OEMs in collaboration with wireless
charging technology manufacturers have also begun
developing their own charging infrastructure for
the convenience of EV owners, which is expected
to drive the growth of the wireless EV charging
market. Speak to our analyst and gain crucial
industry insights that will help your business
grow https//www.marketsandmarkets.com/speaktoana
lystNew.asp?id170963517

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Browse and in-depth TOC on "Wireless EV Charging
Market" 60 - Tables 64 - Figures 173 - Pages
  View more detailed TOC _at_ https//www.marketsan
dmarkets.com/Market-Reports/wireless-ev-charging-m
arket-170963517.html   BEV, by propulsion, is
estimated to hold the largest market share during
the forecast period.   Government initiatives to
promote zero or low emission vehicles are
contributing to the high growth of BEVs. The
governments of some countries have begun
providing subsidies for environment-friendly
cars, thereby encouraging the use of BEVs. For
instance, the Chinese government provides
subsidies of RMB 55,000 on the purchase of
passenger BEV and RMB 30,000 for PHEVs.  
     
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Dynamic Charging segment is estimated to be the
fastest growing wireless EV charging market, by
charging, from 2020 to 2025.   The Dynamic
Charging segment is estimated to be the fastest
growing wireless EV charging market. The dynamic
wireless charging technology for EVs is the most
preferred and attractive future technology in the
EV industry. Wireless charging system
manufacturers such as Qualcomm Technologies, Inc.
(US) have demonstrated the dynamic wireless
charging technology by constructing 100 meters of
test roads embedded with the wireless charging
system. Dynamic charging technology has a great
future once EVs are launched in the mass market.
The future roads/highways are expected to be
equipped with this technology, and the drivers
would have to pay a tax for entering the lane to
charge their EVs while on the move.   Request for
Free Sample Report _at_ https//www.marketsandmarkets
.com/requestsampleNew.asp?id170963517  
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Asia Pacific is expected to be the largest market
for wireless EV charging system in 2025.   Asia
Pacific is projected to be the largest market for
wireless EV charging system from 2020 to 2025. A
rise in the penetration of EVs in the developed
markets may boost the demand for wireless
charging systems. Increasing RD investments,
coupled with the growing number of partnerships
and joint ventures between major OEMs and
domestic players, have created growth
opportunities for wireless charging system
manufacturers in Asia Pacific. Moreover, the
region comprises the emerging economies, such as
China and India, along with the developed
nations, such as Japan, and is the largest market
for automobiles. Thus, technological advancements
have led major OEMs to incorporate advanced and
convenience features such as wireless charging
system in their EVs.   The wireless EV charging
market is dominated by globally established
players such as WiTricity Corporation, Evatran
Group, Mojo Mobility, ChargePoint, Bosch,
Momentum Dynamics Corporation, Qualcomm
Technologies, Inc., and Bombardier, Inc.
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