Europe Wireless Charging Market: Industry Analysis and Forecast (2024-2030) by Component, Technology, Industry Vertical and Country

Europe Wireless Charging Market Overview

Wireless charging is a technology that allows devices to be charged without physical cables, using electromagnetic fields to transfer energy between a charging pad and the device. The increasing number of electronic gadgets that need to be charged regularly has led to the development of wireless charging technologies in the modern world. There is a continuing demand for quick and practical charging solutions due to the rise in smartphones, tablets, and other portable devices. This need has given rise to wireless charging, which enables consumers to charge their gadgets without the inconvenience of cords or wires. In addition to being more convenient, wireless charging is safer than traditional cable charging techniques.

It is an excellent option for public spaces like airports, coffee shops, and restaurants because it significantly decreases the possibility of electrical shock or fire threats. The Europe Wireless Charging Market, valued at USD 1.87 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 18.30% from 2023 to 2030. The increasing demand for high-speed wireless and multi-device charging stations is a key driver of this market growth.  

Europe, the second-largest EV market, holds a 24% share with 1.5 million units shipped. EV adoption in Europe surged impressively, showing a 34% year-on-year growth. There is strong demand for EVs in Europe and also supply-chain issues and higher shipments have driven this growth. EVs now account for over 19% of all vehicles sold in the region. This robust EV growth positively impacts the wireless charging market in Europe. With Tesla leading the way and several Chinese EV brands entering the market, the adoption of wireless charging solutions is set to increase. Although challenges remain in major European markets like Italy and Spain, the overall surge in EV adoption fuels demand for efficient and convenient wireless charging infrastructure, paving the way for significant European wireless Charging Industry growth.

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Europe Wireless Charging Market Dynamics

Revolutionizing Europe's Automotive Sector to fuel the Market Growth

The development of wireless charging systems for electric vehicles (EVs) has progressed steadily over the past decade, with recent innovations leveraging resonant inductive coupling for wireless power transfer (WPT) from ground-based pads to vehicle-fitted pads.  Several automakers, including BMW, Hyundai, FAW, and IM Motor, are evaluating wireless charging systems in collaboration with technology suppliers. Investment from auto OEMs like Volvo, Jaguar, and Renault, and Tier 1 suppliers such as Siemens, Mahle, and Magna, is driving Europe Wireless Charging Market growth. Companies like WiTricity, Hevo, Wave, IPT Technology, and Momentum Dynamics are competing to dominate the wireless EV charging space, catering to various applications and creating ample business opportunities.

Wireless charging enables fleets to integrate charging into their operational workflows through opportunistic charging sessions, allowing vehicles to have smaller batteries and remain in service longer. This approach spreads a fleet’s energy demand over time and space, reducing electric consumption at central hubs. The MMR report details commercial fleet operations, battery downsizing potential, total cost of ownership comparisons with plug-in infrastructure, and wireless vehicle-to-grid (V2G) possibilities.

Luxury private passenger cars likely adopt wireless EV technology first due to its convenience, followed by commercial vehicles like taxis, vans, and buses, and eventually, autonomous vehicles, although early deployments rely on conductive, cable-based solutions. All factors are driving the Europe Wireless Charging Industry growth. Additionally, there is a growing demand for higher power levels in wireless charging, enabling faster charging of devices and enhancing user convenience. Technologies like 30W, 40W, and even higher power levels are becoming increasingly prevalent.

Integration with Furniture and Infrastructure to Create Lucrative Opportunities for Market Growth

Wireless charging technology is being integrated into everyday items like furniture, and lamps, as well as public spaces and transportation infrastructure. This trend aims to enhance user convenience and make wireless charging more widely available. The European Commission’s Horizon Innovation Actions for circular furniture solutions significantly contribute to the growth of the Europe Wireless Charging Market. With a strong emphasis on integrating advanced digital solutions such as AI, IoT, and blockchain in circular business practices, the initiative fosters technological advancements that are crucial for the wireless charging sector. The focus on circular design, increased material efficiency, and modular design directly aligns with the principles of wireless charging technology, promoting innovation in both fields.

With the lifecycle perspective and incorporating digital solutions, the initiative supports the development of more efficient, durable, and sustainable wireless charging products. Also, the drive for higher recycling and upcycling rates and the use of secondary materials in new products can lead to the creation of eco-friendly wireless charging devices. The initiative’s support for circular business practices, such as repair, reuse, and remanufacture, enhances the longevity and efficiency of wireless charging infrastructure. As a result, the rising adoption of wireless charging technologies in Europe aligns with the broader goals of environmental sustainability and technological advancement.

Also, the healthcare industry’s growing reliance on wireless charging for medical devices presents a lucrative opportunity. Wireless charging ensures sterilized, contact-free power supply for critical medical equipment, improving patient care and operational efficiency. As healthcare facilities upgrade to smart systems, the demand for wireless charging solutions is poised to rise, driving Europe Wireless Charging Market growth.

Smart City Initiatives to Push the Market Forward

Europe’s push towards smart cities presents a significant opportunity for wireless charging technologies and boost the Europe Wireless Charging Market. Integrating wireless charging into urban infrastructure, like public transport systems and street furniture, facilitate seamless energy transfer, promoting sustainability and convenience. This creates a substantial market for wireless charging solutions tailored to urban environments.

EU's Smart Cities and Energy Initiatives

The European Commission’s support for the wireless charging market includes funding and strategic initiatives that drive innovation and adoption. Programs like EIT Urban Mobility and CIVITAS foster advancements in urban mobility, including wireless charging infrastructure. Additionally, initiatives under Horizon Europe promote technological research and development in clean energy solutions, including wireless charging. These efforts collectively enhance Europe's Wireless Charging Industry growth by encouraging technological advancements, standardization, and integration into smart city projects.

As wireless charging technologies evolve, multiple standards and competing technologies have emerged, creating fragmentation in the market. This lack of a unified standard complicates the development and adoption of wireless charging solutions. Manufacturers and consumers face uncertainty over compatibility between different devices and charging stations, which hinder the widespread adoption of the Europe Wireless Charging Market. The absence of a common standard also affects the scalability and cost-effectiveness of wireless charging infrastructure.

Europe Wireless Charging Market Segmentation

By Industry Vertical: The automotive segment held the largest Europe Wireless Charging Market share in 2023. The segment growth is driven by the rising adoption of electric vehicles, which has boosted the demand for electric chargers. The high unit cost of wireless EV chargers contributes to the substantial revenue share of the automotive sector. In Europe, 70% of EV charging occurs at home or work, where charging outlets have lower power output and longer charging durations, resulting in lower costs. This makes charging at home and work the most economical option for EV customers. However, providing charging solutions for residents living in apartment buildings, which represent 46% of EU inhabitants. However, the industrial segment is expected to experience the highest compound annual growth rate (CAGR) during the forecast period, thanks to the increasing need for wireless charging stations for robots in the manufacturing industry.

Europe Wireless Charging Market Country Analysis

Germany held the largest Europe Wireless Charging Market share in 2023. This growth is driven by the growing automotive sector. This sector is the backbone industry in Germany, and the German automotive industry is a global leader. Germany is also one of the strongest countries in the world when it comes to high-tech automotive products, including autonomous driving technology. Manufacturers and suppliers of the German automotive industry will invest more than EUR 220 billion in electric mobility and digitalization for the period 2023 to 2030. The wireless charging market is rapidly expanding and consumers expect convenient options for powering their mobile devices more than ever. Wireless charging capabilities are quickly becoming a key product differentiator, this is still an emerging technology with complex requirements and industry standards. European government regulations also are expected to boost market growth.

Europe Wireless Charging Market Scope

Europe Wireless Charging Market Key players

1. ZenS B.V (Netherlands)
2. Mouser Electronics Europe (Germany)
3. NXP Semiconductors (Netherlands)
4. Qualcomm Inc. (USA)
5. Broadcom Corporation (USA)
6. Toshiba Corporation (Japan)
7. ROHM Co. Ltd. (Japan)
8. Analog Devices Inc. (USA)
9. WÜRTHELEKTRONIK GMBH & CO. KG (Germany)
10. TDK Corporation (Japan)
11. Energizer Holdings, Inc. (USA)
12. Samsung Group (South Korea)
13. WiTricity Corporation (USA)
14. Others

For Global Scenario:

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