Wireless Electric Vehicle Charging (WEVC) Technologies market worth $513.3 M in 2019

Tuesday 17 September 2019, Amsterdam

This new automotive report Wireless Electric Vehicle Charging (WEVC) Market Report 2019-2029, indicates that the global Wireless Electric Vehicle Charging (WEVC) Market will see $513.3 Million in spending in 2019

The lead analyst of the report said: "The adoption of Wireless Electric Vehicle Charging vehicles is expected to increase significantly in the coming years due to the growing usage of electric vehicles and increasing need for flexible charging. EVs operate on electric motors and run exclusively on electricity. These are increasingly being used to eliminate the use of traditional fuels such as gasoline which causes emission of harmful gases like carbon, nitrogen, etc. Sports car makers like Porsche, Ferrari, and McLaren, have already started including electric motors, together with their supercharged internal combustion engines, to make their cars more environmentally safe. Market players in the global industry are introducing fuel-efficient and low-cost electric vehicles to cater to the growing consumer needs. There has been a significant reduction in the prices of Li-ion batteries over the years, which drives the growth of the electric vehicle market. Most electric vehicles are equipped with Li-ion batteries. Incentives and subsidies are being offered on the purchase of electric vehicles by the government across the world."

Wireless electric vehicle charging (WEVC) technology is convenient, easy-to-use, flexible and highly efficient. It is reliable and safe that helps in charging the electric vehicles without the use of physical connectors, cables or wires. The growing usage of electric vehicles along with their improved battery life is expected to drive the market growth. The wireless electric vehicle charger is not affected by rain or snow and it can be used in any weather conditions. The wireless electric vehicle charging has the ability to charge the electric vehicles in a very short span of time as compared to the other wired charging systems. It reduces the continual stop for charging during the long journeys as it can be charged while the vehicle is in motion. At present, one of the most leading companies providing wireless charging to electric vehicles is ‘Plugless’ available in the market. Moreover, the latest trend of wireless charging is the ‘dynamic charging’ system which put forwards charging facility while the vehicle is in motion. A few famous models of electric vehicles available in the market are Tesla Model S, Nissan Leaf and BMW i8 Roadster.

The 150-page report contains 165 tables, charts and graphs that add visual analysis in order to explain developing trends within the battery electric vehicles market. The report offers market forecast and analysis for 4 regions and 26 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering 10 companies leading in the field of battery electric vehicle charging.

The Wireless Electric Vehicle Charging (WEVC) Market Report 2019-2029 report will be of value to anyone who wants to better understand the Wireless electric vehicle charging market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the Wireless electric vehicle charging industry.