The global automotive industry is currently experiencing transition from gasoline to electric vehicles, hybrid cars and autonomous cars. Electric vehicles demand is growing considerably, but the major challenge for it is charging. The electric vehicles battery technology is quite mature. Each manufacturer has their own battery charger however they can be compatible with other vehicles. Convenient EV charging infrastructure is expected to become a key factor for the growth of electric vehicles market. The electric charging points are growing significantly globally; there are about 16,000 public charging stations in the U.S with a jump of around 15% from last year. From 2011, electric vehicles sales rise about 700% in 2016.To factor in these challenges some companies are manufacturing inductive wireless charging system that is compatible for all the electric cars.
The global automotive inductive wireless charging system market is growing atan unprecedented rate, gaining more popularity in China and the U.S. The technology in charging system is being modified by companies like Qualcomm which is expected to bring a revolutionary change in electric vehicle market.
Wireless charging for EVs is on the verge of initial deployment, with the Mercedes-Benz S500e plug-in hybrid by 2018. The technology is already being piloted in some of the community bus system. The inductive wireless charging system will use electromagnetic energyto transmit power between the two coils. In wireless vehicle charging, the energy moves from a transmitter coil, encased in a pad that sits on pavement, to a receiver coil housed in a pad underneath a vehicle. On the distant horizon, motorists may be able to get a charge from coils embedded in roadways as they travel along.
Some of the luxury vehicle manufacturers are already planning to deploythe technology by 2017. For example, Mercedes is planning to implementthe wireless charging system on the face-lifted S500e plug-in hybrid sedan. BMW is also planning to deploythe technology in its i8 plug-in hybrid and i3 electric vehicle with collaboration with Mercedes Benz on the wireless technology. Like BMW and Mercedes Benz, several other automakers are also looking for the inductive wireless charging systemtechnology. The inductive wireless charging will help the drivers to top up the mileage over electromagnetic charging pads either on the pavement or embedded in it.
A company called EVAtran already offers aftermarket wireless charging units for the first-generation Chevrolet Volt ($1,260), Nissan Leaf ($1,540) and Cadillac ELR ($1,940).Also; Toshiba has been using a wireless static rechargeable battery system to energize buses that provide regular service in Japan between All Nippon Airways Co. Ltd. facilities in Kawasaki and the vicinity of Haneda Airport in Tokyo.
The increase in sales of plug in hybrid vehicle globally supported the growth of the inductive wireless charging market. In addition, the increase in investment of infrastructure for electric vehicles supported by the government regulation will fuel the market further. The high installation cost, lesser efficiency and increasing cost pressure is majorly hindering the growth from inductive wireless charging system market.
The automotive inductive wireless charging market is segmented broadly by geography which in turn can be sub divided into region specific.
By geography, Automotive Inductive Wireless Charging market is segmented into North America, Europe, Latin America, Asia Pacific and rest of the world. North America region is expected to dominate the market with the U.S., as the major contributor.The growth in digitization, mobile communication and infrastructural growth supported the market in North America. In addition, the rise in demand for electric vehicles in the region further boosted the growth. Europe and Asia Pacific is also expected to find robust growth during the forecast period, where China is expected to lead the market. Further increasing adoption of electric vehicles in China will further enhance the growth of the market.
Globally, key leaders operating in Automotive Inductive Wireless Charging market are Momentum Dynamics Corporation, WiTricity Corp., Wireless Advanced Vehicle Electrification (WAVE), EVAtran, Bosch, Qualcomm, Texas Instruments, Fulton Innovation and among others.
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