Wireless Electric Vehicle (EV) Charging Market Continues To Grow Owing To The Demand For Electric Vehicles

The Demand For Electric Vehicles From Developing Nations And Governmental Policies To Reduce Carbon Emission

SEATTLE, WASHINGTON, UNITED STATES, November 10, 2021 /EINPresswire.com/ — A wireless electric vehicle (EV) charging makes it possible to use one system to power all of the required electronics for an automotive charging system. The wireless electric vehicle (EV) charging can easily be configured to power any number of electronic devices, from computers to laptops, from cell phones to power tools, from infrared detectors to GPS systems, from cigar lighter plug-ins to real key chains, and more. employing a single wireless electric vehicle (EV) charging simplifies the electronics process, which greatly reduces the time and money spent on installation and wiring.

Market Dynamics

The main factor driving the expansion of the wireless electric vehicle (EV) charging market is that the rapidly increasing demand for electric vehicles, especially in developing nations like India and China. the need of owning an electrical vehicle in nations like India and China are increasing a day , due to the need of lowering vehicle emission. as an example , consistent with the Federation of Automobile Dealers Associations of India, 1309 electric cars were sold within the region in 2019. Additionally, rapidly developing EV infrastructure and favorable government policies associated with ownership of automobiles are expected to drive the wireless electric vehicle (EV) charging market. as an example , in March 2019, the Indian Government authorized the second phase of the Faster Adoption and Manufacturing of electrical Vehicles in India (FAME India) scheme. counting on this scheme the govt is hoping to scale back the value of electrical al and hybrid cars in India and to mainly specialise in the implementations of electric vehicles in both shared and public transportation within the future.

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However, the high cost of the initial setup of wireless charging infrastructure is that the main restraining factor hindering the expansion of the wireless electric vehicle (EV) charging market.

This market is distributed in five regions that include Asia-Pacific, North America, Africa, and therefore the Middle East , Europe, and Latin America . Among these, Asia Pacific is predicted to carry a big share of the wireless electric vehicle (EV) charging market due to the demand for electric vehicles within the region. as an example , consistent with the China Association of Automobile Manufacturers (CAAM), currently, 81% of the cars in China are electric cars. Additionally, the presence of key players within the region is predicted to reinforce the market growth. The wireless electric vehicle (EV) charging market in North America is estimated to witness significant growth due to the varied federal policies regarding reducing carbon emission from vehicles and promoting sustainability.

Competitive Analysis
Key players operating within the global wireless (EV) charging market include Hevo Power, ZTE Corporation, Witricity Corporation, Toyota Motor Corporation, Toshiba Corporation, Robert Bosch GmbH, Qualcomm, Inc., Hella KGaA Hueck & Co., Evatran Group Inc., Elix Wireless, Continental AG, and Bombardier Inc.

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Source: EIN Presswire