From USD 7.0 million in 2019, the global wireless electric vehicle charging market is predicted to grow to USD 172.6 million by 2025, registering a CAGR of 59.9% during the forecast period (2020–2025). The growth of this market is attributed towards the increasing awareness for protecting the environment and restricting the use of fossil fuels, that has stimulated the governments and various institutions to invest in R&D for wireless car charging. Moreover, the wireless electric cars use power by use of electric motors that run by battery packs that are rechargeable, that results in causing less pollution and are environmental friendly in comparison to that of conventional vehicles.
Increasing investment in R&D initiatives for wireless car charging along with increasing use of electric vehicles to eliminate harmful emissions and reduce the carbon footprint are the key factors driving the growth of global wireless electric vehicle charging market. Major leading companies that contribute a substantial growth in the economy have started to invest more in the R&D for the wireless charging vehicle market. Furthermore there has been an escalation witnessed in the use of electric vehicles so as to eliminate harmful emissions for carbon footprint reduction. These factors explained play as the growth drivers for the market.
Geographically, wireless electric vehicle charging market in Europe is expected to contribute largest revenue by 2025 due to accessibility to well organized infrastructure that enhances the establishment of wireless charging infrastructure in this region. Development of effective infrastructure with access to large number of charging stations along with massive increase in the sale of electric vehicles in the region are the key factors driving the growth of global wireless electric vehicle charging market.
Download Free Report Sample At: https://www.vynzresearch.com/automotive-transportation/wireless-electric-vehicle-charging-market/request-sample
Key players operating in the global wireless electric vehicle charging market are emphasizing their efforts upon strategic acquisitions in order to strengthen capabilities of research & development that supports them in providing innovative solutions to the users and thus gain competitive advantage. Furthermore, the key player such as WiTricity is undertaking product development and mergers & acquisitions activities.
Some of the major players operating the global wireless electric vehicle charging market include HEVO Inc., Integrated Device Technology, Inc., WiTricity Corporation, Robert Bosch GmbH, Toyota Motor Corporation, Daimler AG, Qualcomm Technologies, Continental AG, HELLA KGaA Hueck & Co., Mojo Mobility, and ZTE Corporation.
About VynZ Research
VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies.
Contact
Manager: Client Care
Toll-Free: 18882533960
Email: kundan@vynzresearch.com
Website: www.vynzresearch.com
No comments:
Post a Comment