Wireless Charging Market - Global Industry Analysis and Forecast (2024-2030)

Wireless Charging Market Overview

Wireless charging is the process of electrically charging battery-powered devices and equipment without the need for a wired electrical power connection. It enables the wireless transfer of electrical charge from a charging device or node to the recipient device. In the context of IoT and smart home apps, wireless charging provides ongoing power for devices like sensors, cameras, and smart home products, removing the need for manual battery changes. Tables, desks, roads, and parking lots are all starting to incorporate wireless charging technology, making it easier to plan for electric vehicle charging in urban areas. Numerous factors, such as the rising use of electric vehicles (EVs) and the growth of the Internet of Things (IoT), are fuelling the growth of the wireless charging market.

Wireless charger manufacturers are continuously focusing on developing wireless charging technology. An example is Belkin, which provides a range of wireless chargers, including individual pads and multiple-device charging stations, catering to various consumer requirements and preferences. The diversity assists in meeting the needs of a wider Wireless Charging industry. Apple incorporated MagSafe technology into the iPhone 12 lineup to improve wireless charging through the use of magnets for precise alignment between the charger and the device.

 

Global Wireless Charger Exporters & Suppliers directory, there are 8,770 active Wireless Charger Exporters in the world exporting to 10,234 Buyers.

• LUXSHARE ICT VIETNAM LIMITED accounted for the maximum export market share with 49,645 shipments followed by LXVN with 22,283 and SAMSUNG ELECTRONICS VIETNAM CO LTD at the 3rd spot with 14,203 shipments.

 

• World exports most of its Wireless chargers to Hong Kong, Vietnam, and the United States

 

• The top 3 exporters of Wireless chargers are Vietnam with 156,725 shipments followed by China with 48,985 and the United States at the 3rd spot with 3,674 shipments.

 

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Wireless Charging Market Dynamics

Electric Vehicles and the Growth of the Wireless Charging Market

The growing demand for electric vehicles (EVs) is driving the wireless charging market. The automotive industry is exploring wireless charging for electric cars, which provides a convenient and efficient charging solution. Companies are developing wireless charging platforms that are installed in garages or parking lots. Advancements in wireless charging, growing connections with electric vehicles (EVs), integration into furniture and infrastructure, long-distance wireless charging, and two-way wireless charging are driving the growth of the Wireless Charging technology.

 

 

The widespread availability of wireless charging features in smartphones has grown to be a noteworthy trend. Wireless charging capabilities were included in close to 70% of smartphones shipped globally. Numerous causes, including user convenience, technology developments, and the demand for more robust and water-resistant gadgets, are contributing to the rapid acceptance. Customers looking for simplicity and efficiency find wireless charging to be especially enticing since it provides a hassle-free, cordless method of powering electronics.

 

Large smartphone manufacturers have set the bar high for the industry by including wireless charging in their flagship models, including Samsung, Apple, and Google. One major selling factor is how easy it is to charge a gadget by just laying it on a pad without the need for physical hookups. Technological advances have also played a crucial role, with improved download speed, efficiency, and integration with different devices. The development of universal standards such as Qi has ensured compatibility between brands and models, accelerating adoption.

 

Dynamic Wireless Charging Innovations for Vehicles

Dynamic electric vehicle charging (DEVC) is also a future trend in wireless charging, which allows vehicles to get charged while in motion. The technology dramatically improves the traveling range for electric cars as the EV battery is charged while driving on roads and highways. Also, DEVC eliminates the need for large energy storage, making vehicles more lightweight and compact.

 

For Instance, Qualcomm demonstrates dynamic electric vehicle charging. Based on the Qualcomm Halo (Now Part of WiTricity) wireless electric vehicle charging technology (WEVC), Qualcomm Technologies has designed and built a wireless DEVC system capable of charging an electric vehicle (EV) dynamically at up to 20 kilowatts at highway speeds.

 

ElectReon conducts successful electric truck wireless charging tests ElectReon AB has successfully managed to charge a fully electric 40-tonne truck and trailer wirelessly at a test facility near Stockholm.

 

Challenges and Considerations in Wireless Charging for Mobile Phones and Electric Vehicle

Wireless charging is to transmit power wirelessly. Low-power 5W wireless charging on mobile phones has faced many safety problems, including electromagnetic interference, heat generation, and metal foreign objects. The biggest security threat is metal foreign objects. If there is a metal foreign body in between, it absorb electromagnetic energy and heat up violently, which lead to catastrophic results.

The high voltage and high power necessary for EV charging bring additional challenges regarding the safety and the cost of wireless charging systems. Wireless charging also requires an additional charger to be integrated into the vehicle, which increases the vehicle cost.

 

Wireless Charging Market Segment Analysis

By Technology, Inductive segment held the largest share in 2023 for the Wireless Charging Market. Inductive charging (also known as wireless charging or cordless charging) is a type of wireless power transfer. It uses electromagnetic induction to provide electricity to portable devices. Inductive charging is also used in vehicles, power tools, electric toothbrushes, and medical devices. The integration sought to improve user convenience and encourage the usage of electric mobility. These charging pads allow users to park their vehicles on a charging pad without connecting to any cables, improving the user experience and encouraging electric vehicle adoption.

 

For example, the BMW 5-series plug-in hybrid includes wireless charging capabilities. The inductive charging system is factory-installed and mounted in a garage. The charging process begins automatically when the vehicle is parked, and an empty battery be fully recharged in 3.5 hours. For Instance, Tesla is looking at wireless inductive EV home charging for its electric car lineup. The technology enables Tesla owners to charge their EVs without plugging them in.

 

The installation of public charging stations with inductive wireless charging capability presents a significant chance for the growth of the Wireless Charging industry. These stations are strategically positioned in busy locations such as shopping malls, airports, and transit hubs to satisfy the increasing demand for convenient wireless charging solutions. Chief Minister Siddaramaiah announced plans to set up approximately 2,500 EV charging stations across Karnataka through a public-private partnership to enhance the electric vehicle ecosystem, as detailed in his budget speech on February 16, 2024. Businesses like EVgo, ChargePoint, and Electrify America are increasing their electric vehicle charging station networks. By integrating inductive wireless charging technology into their systems, these companies offer customers a seamless and convenient charging process, which helps to promote the use of electric cars.

 

• March 2024- Infineon presented CoolSiC MOSFET G2, the next generation of silicon carbide technology for high-performance systems driving decarbonization.

 

• December 2023- Tesla confirmed building a wireless, inductive electric vehicle charging platform.

 

 

Wireless Charging Market Regional Insight

Asia Pacific held XX % share in 2023 for the Wireless Charging Market. The region boasts a large consumer electronics market, with countries like China, Japan, and South Korea being major players in device manufacturing, which is expected to drive the Wireless Charging industry growth across the region.  There is a growing presence of consumer electronics in the area, with electric vehicles becoming increasingly popular in countries such as China. Chinese-manufactured vehicles have a lower standard compared to imported cars, leading the nation to adopt advanced technology to stay competitive. Electric vehicles depend on electrical power more than they do on mechanical complexity. Consequently, the current support from the Chinese government is towards transitioning from combustion engines to electric vehicles.

 

China, which is the largest EV market in the world, has been backed up by generous support from the government. China has extended the incentives related to the purchase of new energy vehicles (NEVs) till 2022. Electric car sales in China tripled to 3.3 million in 2021, accounting for roughly half of the global total. In the country, the median price of an electric car was only 10% higher than that of conventional offerings, compared to 45% to 50% in other major markets. India is also working towards making electric vehicles 30% of the total road traffic by 2030.

 

The government is planning to make it mandatory for Uber and Ola to make 40% of their fleet electric by 2026. Wireless charging key players in the country are focusing on the development of charging stations, along with the players, who are also focusing on providing wireless charging features in the vehicles themselves. For instance, in July 2023, Zhengzhou Nissan Automobile Co., Ltd. started accepting pre-orders for the next-generation Paladin mid-to-large-size off-road SUV. The vehicle comes standard with such functions as 15W wireless charging.

 

• For instance, in April 2023, Dongfeng Motor (DFM) made a significant announcement during the grand opening of the 2023 DFM spring launch conference held in Wuhan. During the conference, DFM revealed a comprehensive range of charging technologies, spanning from traditional DC and AC charging solutions to cutting-edge super-fast charging technologies. Additionally, the company showcased its ongoing endeavors in advanced research related to wireless charging technologies.

 

 

Wireless Charging Market Competitive Landscape

The wireless charging market is filled with competition from key players aiming for innovation and control of the market. For example, Samsung has introduced wireless charging accessories such as the Wireless Charger Trio, which is capable of charging several devices at the same time. Apple has implemented MagSafe technology in the iPhone 12 line and subsequent models, improving wireless charging by providing a reliable magnetic connection that ensures the charger is perfectly aligned with the device. MagSafe is also compatible with accessories such as wallets and cases. Additionally, WiTricity is focused on magnetic resonance technology for wireless power transfer, especially in automotive applications, while other key players are also active in the Wireless Charging Market.

 

• In February 2023, SAMSUNG launched the SmartThings Hub, a modified version of Samsung's existing wireless charger. The SmartThings hub and wireless charger in one Cheapest Matter controller and Thread border router can be combined with smart home automation to charge your Galaxy phone.

 

• Apple has integrated support for 15W wireless charging with Qi2. Developed by the Wireless Power Consortium (WPC), Qi2 serves as the successor to the current Qi wireless charging standard. It boasts improved efficiency and magnetic alignment features, drawing inspiration from Apple's MagSafe technology.

 

Samsung and Apple are significant competitors in the wireless charging industry, each with their unique advantages and approaches. Samsung offers a wide range of products and quickly adopts new technology, while Apple concentrates on high-quality products and perfect integration within its ecosystem. Competition in the wireless charging market encourages innovation and growth, leading to a wider range of wireless charging solutions that benefit consumers.

 

Conclusion: Technological developments, consumer electronics and electric vehicle adoption, convenience, and environmental advantages propel the wireless charging market growth. With advancements in technology resulting in increased efficiency, the market is anticipated to increase, providing a wider range of innovative and interconnected solutions to different industries. The rapid growth of pure electric vehicles (PEVs) has created a demand for quick and effective methods of wireless charging and power transfer. The growing amount of PEVs has caused a quick rise in power needs for distribution networks, leading to negative effects. Intense competition and innovation in the wireless charging market are fueled by key players such as Samsung, Apple, and other companies. This competitive environment encourages ongoing innovation by providing a variety of advanced wireless charging options that meet the changing needs of global consumers.

 

Wireless Charging Market Scope

Wireless Charging Market
Market Size in 2023	USD 18.4 Bn.
Market Size in 2030	USD 72.82 Bn.
CAGR (2024-2030)	21.72 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segments	By Component           Transmitters Receivers Others
	By Technology           Inductive Resonant Radio Frequency Others
	By Applications Automotive Consumer Electronics Industrial Healthcare defence Others
Regional Scope	North America- United States, Canada, and Mexico Europe – United Kingdom, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Wireless Charging Market Key Players

1. Energizer Holdings (US)
2. Integrated Device Technology (US)
3. Murata Manufacturing (Japan)
4.  Qualcomm Incorporated (US)
5.  Powermat Technologies (Israel)
6.  Texas Instruments (US)
7. Witricity Corporation (US)
8. Samsung Electronics (South Korea)
9. Sony Corporation (Japan)
10. TDK Corporation (Japan)
11. Energous Corporation (US)
12. Ossia Inc. (US)
13. ZenS B.V (Netherlands)
14. Apple (California)
15. XX Inc.