Global Wireless EV Charging Growth Opportunities

Global Wireless EV Charging Growth Opportunities

Wireless Charging and Autonomous Capabilities Represent Marketable Features for the High-end Luxury EV Segment

RELEASE DATE
10-Aug-2022
REGION
North America
Research Code: PCFA-01-00-00-00
SKU: AU02381-NA-MT_26787
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Description

2021 has been a strong year for electric vehicle (EV) sales, with 6.8 million units sold and 9.5% global market penetration, outperforming industry expectations. Despite the impact of chip shortages on production, the industry exceeded 100% YoY growth. Conductive (wired) charging infrastructure grew to more than 500,000 charge points in 2021. The top 5 countries (excluding China) were the US, the Netherlands, France, Germany, and the UK. These include AC/DC, public, and private charge points. As of 2022, the wireless or inductive EV charging market is still in a nascent phase because of a lack of global standards, safety regulations, and established business models. Conductive charging infrastructure is also underdeveloped. Hence, the most likely adopters of wireless EV charging will be premium/luxury EV manufacturers offering it as an add-on feature and the commercial mobility sector. About 90% of wireless charging will be stationary as dynamic (under-road) WEVC requires large-scale investment and an infrastructure overhaul. Of the stationary wireless chargers, 80% will be in private locations, while 20% will be available to the public. They will likely use charging pads rather than underground WPT devices.

Hyundai-Kia’s premium sub-brand Genesis is launching its all-new EV called GV60, built on the E-GMP pure electric platform. The GV60 will offer factory-installed WEVC as an optional feature. The WEVC system on the Genesis GV60 will be based on Witricity’s wireless charging technology, which is also J2954-compliant. This is a potential business model for WEVC penetration, particularly into the premium EV market and possibly mass-market EVs, as Witricity endeavors to drive down costs.

Author: Prajyot Sathe

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Wireless Electric Vehicle Charging (WEVC) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Electric Vehicles Sold in the Last Decade

Global EV Market, 2021 and 2022E

EV Growth and Penetration—Major Countries

EV Growth and Penetration—Leading OEMs

Commercial EV Market Overview—Battery EVs (BEVs)

EV Charging Infrastructure Development

Summary of Potential EV Charging Models

Wireless EV Charging Systems and Methods

Wireless EV Charging Systems and Methods (continued)

Overview of Different Wireless EV Charging Methods

SAE J2954

Key EV Market Trends

Key EV Market Trends (continued)

Wireless Charging For Commercial EVs

OEM Overview—Premium and Luxury EV

OEM Overview—Premium and Luxury EVs (continued)

Market Developments For WEVC

Technology Roadmap

Comparative Analysis

Adoption of Different Types of Business Models

Strategic Locations

Market Estimates in Unit Sales/Installed

Estimated Market Size by Revenue

Growth Drivers

Growth Restraints

WiTricity

Plugless Power

Momentum Dynamics

Momentum Dynamics’ Wireless Charging EV Taxi Project

Electreon

Electreon Projects

Electreon Projects (continued)

Magment (High Disruptive Potential)

Growth Opportunity 1—Standardized Aftermarket Solutions to Promote WEVC

Growth Opportunity 1—Standardized Aftermarket Solutions to Promote WEVC (continued)

Growth Opportunity 2—IP Licensing Business Model for Faster Time to Market

Growth Opportunity 2—IP Licensing Business Model for Faster Time to Market (continued)

Growth Opportunity 3—Electric Road Systems to Provide a New Market for Construction Companies and Utilities

Growth Opportunity 3—Electric Road Systems to Provide a New Market for Construction Companies and Utilities (continued)

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

2021 has been a strong year for electric vehicle (EV) sales, with 6.8 million units sold and 9.5% global market penetration, outperforming industry expectations. Despite the impact of chip shortages on production, the industry exceeded 100% YoY growth. Conductive (wired) charging infrastructure grew to more than 500,000 charge points in 2021. The top 5 countries (excluding China) were the US, the Netherlands, France, Germany, and the UK. These include AC/DC, public, and private charge points. As of 2022, the wireless or inductive EV charging market is still in a nascent phase because of a lack of global standards, safety regulations, and established business models. Conductive charging infrastructure is also underdeveloped. Hence, the most likely adopters of wireless EV charging will be premium/luxury EV manufacturers offering it as an add-on feature and the commercial mobility sector. About 90% of wireless charging will be stationary as dynamic (under-road) WEVC requires large-scale investment and an infrastructure overhaul. Of the stationary wireless chargers, 80% will be in private locations, while 20% will be available to the public. They will likely use charging pads rather than underground WPT devices. Hyundai-Kia’s premium sub-brand Genesis is launching its all-new EV called GV60, built on the E-GMP pure electric platform. The GV60 will offer factory-installed WEVC as an optional feature. The WEVC system on the Genesis GV60 will be based on Witricity’s wireless charging technology, which is also J2954-compliant. This is a potential business model for WEVC penetration, particularly into the premium EV market and possibly mass-market EVs, as Witricity endeavors to drive down costs. Author: Prajyot Sathe
More Information
Author Prajyot Sathe
Industries Automotive
No Index No
Is Prebook No
Keyword 1 wireless ev charging
Keyword 2 wireless charging for electric vehicles
Keyword 3 ev charging
Podcast No
WIP Number PCFA-01-00-00-00