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Wireless charging for the electric vehicle market predicted to grow at double-digit CAGR by 2030


iCrowdNewswire   Jan 11, 2021  9:51 AM ET

Wireless charging is also known as cordless charging or conductive charging. The process of recharging batteries from a power source to a consuming device without any physical contact is referred to like wireless charging. It comprises an electric current that is passed between objects through coils to induce an electromagnetic field that charges the battery. Wireless charging provides an efficient, convenient, reliable, cost-effective, and safer charging of devices over the traditional physical cable charging method. Getting a charging station to run wireless EV charging is highly imperative. Also, manufacturers of sports cars such as McLaren, Ferrari, and Porsche have begun integrating electric motors with their supercharged petrol engines to make their vehicles environmentally friendly. The Wireless charging for electric vehicle market size was registered at USD XX billion in 2019 and is estimated to reach USD XX billion by 2030, registering a CAGR of XX% from 2020 to 2030. The increase in the demand for fuel-efficient electrical vehicles is anticipated to be a growth driver in the market. Increased sales of electric vehicles, constant developments in portable electronics as well as wearable’s and regular need to harvest ambient RF energy are expected to drive the growth of the global market for wireless electric vehicle charging over the forecast period. Crude oil is the main source of ignition in vehicles and is extracted and refined to form diesel and petrol. Over the last few decades, oil prices have risen at an unprecedented rate, making it impossible for customers of the low and middle class to afford travel. Rising oil prices have encouraged customers to move towards energy-efficient alternatives, reducing the average cost per kilometer. This is expected to increase demand for electric vehicles over fuel-driven vehicles, thereby boosting the development of the market for electric vehicle charging systems. Request Free Sample Copy Research Report @ https://www.fatposglobal.com/sample-request-363 Free Sample Includes:

Technological advancements and higher per-capita automotive spending to increase growth

Increased sales of electric vehicles, constant developments in portable electronics as well as wearable’s and regular need to harvest ambient RF energy are expected to drive the growth of the global market for wireless electric vehicle charging over the forecast period. Crude oil is the main source of ignition in vehicles and is extracted and refined to form diesel and petrol. Over the last few decades, oil prices have risen at an unprecedented rate, making it impossible for customers of the low and middle class to afford travel. Rising oil prices have encouraged customers to move towards energy-efficient alternatives, reducing the average cost per kilometer. This is expected to increase demand for electric vehicles in relation to fuel-driven vehicles, thereby boosting the development of the market for electric vehicle charging systems. Download Free PDF Brochure: https://www.fatposglobal.com/free-broucher-363

Inefficiency and high prices to hamper the market growth

Inefficiency in fast charging and high prices of wireless chargers are key challenges of the market. It does not provide efficient charging while in the distance which acts as a restraint in the market. Another cause is the expensive technology and slower charging rates which hinders the growth of the market and is likely to be fixed in the upcoming years. In addition, revenue generation on the electric vehicle charging system segment is limited due to the higher electric vehicle costs, which in turn restricts the overall electric vehicle sales. Inquire more about this report before purchase @ https://www.fatposglobal.com/custom-request-363 Top Market Players:

Browse detailed report with in-depth TOC @ https://www.fatposglobal.com/reports/wireless-charging-for-electric-vehicle-market/363 About Us: Fatpos Global stands for “Failures Are The Pillar Of Success”. We are a rapidly-growing global management consulting, advisory and market research services provider that aims to aid businesses with bold decisions that help them embrace change for their sustainable growth. With the help of our experts and industry veterans and their years of expertise across different industry verticals, we aid businesses with solutions that help in their efficient decision making and Developing executable strategies.



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Keywords:    Wireless charging for electric vehicle market, Wireless charging for electric vehicle Industry, Wireless charging for electric vehicle market Size, Wireless charging for electric vehicle market Share, Wireless charging for electric vehicle market 2020, Wireless charging for electric vehicle market 2030

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