North America Wireless EV Charging Market
North America Wireless EV Charging Market is expected to reach USD Billion by 2024 from USD Billion in 2016 at a CAGR of (Detailed analysis of the market CAGR is provided in the report). Wireless Electric Vehicle Charging is highly efficient, convenient as well as easy-to-use charging technology for Electric Vehicles (EV). Drivers of electric vehicles lie in parking and charging without the need for extra plug-in cables or adaptors. The technology for electric vehicles has been developed and advanced over many years. In the automotive industry, this technology uses resonant magnetic induction for transferring energy wirelessly, from a pad in ground-based to another pad integrated into the vehicle. Wireless charging is an easy sellable item for the luxury car market making it more convenient, more futuristic both in terms of design and service.
North America Wireless EV Charging Market in North America is segmented into application, component, power supply range, charging type, vehicle type, and geography. Based on application, the market is divided into a home charging unit and public charging station. Public charging station held the largest market share as compared to the other segment. The growth of electric vehicles along with higher subsidies from government to boost renewable sources of transportation has together boosted the overall market share of public charging station. By component, the market comprises of the base charging pad, a power control unit, and vehicle charging pad. The power control unit is the largest segment on the basis of a component that can be attributed to its high utilities and application across home stations as well as public charging stations. Considering the power supply range segment, the market comprises of 3–<11 kW, 11–50 kW and >50 kW. The 3–<11 kW held the largest segment due to its high usage in the home stations with the >50 kW growing at the fastest rate. The battery electric vehicles and plug-in hybrid electric vehicles are various vehicle type on the basis of which the market is segmented.
North America has been a leading market for Wireless EV Charging globally and has been segmented on the basis of countries into US and Canada. US is holding the largest market share with Canada monitoring one of the highest CAGR. Growing demand for renewable sources of energy for transportation along with stringent government policies to boost the electric cars segments have been a few major drivers that have driven the market for wireless EV charging in North America.
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