The global inductive wireless charging market size was valued at USD 20.9 billion in 2023 and is projected to reach USD 42.6 billion by 2032, registering a CAGR of 8.2% during the forecast period (2024-2032). Inductive wireless charging market share is estimated to expand during the forecast period due to increased acceptance in consumer electronics, automotive, and industrial applications, driven by technological developments and rising demand for accessible and wireless charging solutions.
Inductive wireless charging is a method that transfers electrical power without the use of physical connectors or cords. It uses electromagnetic fields to transfer energy between a charging pad (or base station) and a suitable gadget equipped with a receiver. The charging pad provides an alternating current, resulting in a magnetic field that induces current in the receiver coil. This current is converted to direct current and used to charge the battery. Inductive wireless charging is commonly utilized in consumer devices such as smartphones and smartwatches, and it is gaining popularity in automotive applications for electric vehicles.
The global market is expanding rapidly, driven by increasing usage across various industries. This technology, widely used in consumer gadgets such as smartphones and smartwatches, is gradually being integrated into automotive applications, with electric and plug-in hybrid electric vehicles featuring inductive charging systems. The healthcare and industrial sectors also contribute to the market's growth by researching inductive wireless charging for medical equipment and industrial products. The simplicity and efficiency of wire-free charging options and ongoing technology developments are driving market expansion. The industry is expected to grow further as standardization efforts and compatibility improve.
The automotive industry was a significant driver, with electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) embracing inductive wireless charging technologies. This integration sought to improve user convenience and encourage the usage of electric mobility. These charging pads allow users to park their vehicles on a charging pad without connecting to any cables, improving the user experience and encouraging electric vehicle adoption. For example, the BMW 5-series plug-in hybrid includes wireless charging capabilities. The inductive charging system is factory-installed and can be mounted in a garage. The charging process begins automatically when the vehicle is parked, and an empty battery may be fully recharged in 3.5 hours.
Furthermore, Tesla is looking at wireless inductive EV home charging for its electric car lineup. The technology will enable Tesla owners to charge their EVs without plugging them in. However, installing an inductive charger in your garage will likely cost more than a regular Level 2 charger. This is because an inductive pad must be installed on the garage floor, which may necessitate embedding it in the concrete. For example, Tesla has released a wireless charging infrastructure capable of charging up to three Qi devices at 15W apiece. The platform features a Cybertruck-inspired look and costs $300. It includes a USB-C cable with wireless charging, a 65W USB-C power converter, and a magnetic detachable stand.
In addition, inductive wireless charging tackles some of the difficulties with EV adoption, such as charging convenience and range anxiety. In 2023, global EV sales climbed by 35% to 14.2 million units, including 10 million pure electric vehicles and 4.2 million plug-in hybrids. In the first quarter of 2023, the United States sold over 2.3 million EVs, approximately 25% more than in the same period in 2022. Inductive wireless charging technologies help to make EVs more accessible and appealing to a wider variety of consumers by simplifying and user-friendly charging.
One of the issues with inductive wireless charging is addressing concerns about charging efficiency and speed. Some people are dissatisfied with how long it takes to charge gadgets wirelessly versus traditional wired methods. Inductive charging is slower than cable charging because of its lower efficiency. A 5W wireless power adapter can take 3-4 hours to charge fully, but a 5W wired power adapter takes approximately 2.5 hours. For example, smartphones with wireless charging capability may charge wirelessly longer than a conventional connection. Users may have to wait longer for their devices to charge, especially if they are used to the rapid charging speeds offered via wired connections.
Additionally, according to studies undertaken by organizations such as the Wireless Power Consortium (WPC), the efficiency of wireless charging systems, including inductive methods, varies. While modern standards and technologies seek to enhance efficiency, some energy is lost during wireless transmission, reducing total charging speed and efficiency. Consumer perceptions of its efficiency heavily influence wireless charging uptake. If customers consider wireless charging significantly slower than wired options, their willingness to adopt the technology may be impacted, especially when speedy charging is required.
Installing public charging stations with inductive wireless charging capability represents a substantial opportunity for industry expansion. These stations can be carefully placed in high-traffic places like shopping malls, airports, and transit hubs to meet the growing need for convenient charging options. For example, to improve the electric vehicle ecosystem, the Karnataka government has proposed establishing almost 2,500 EV charging stations around the state using a public-private partnership model, according to Chief Minister Siddaramaiah's budget speech on February 16, 2024. Companies such as EVgo, ChargePoint, and Electrify America are extending their networks of electric vehicle charging stations. By incorporating inductive wireless charging technology into their infrastructure, these organizations can provide users with a smooth and hassle-free charging experience, further encouraging the adoption of electric vehicles.
Furthermore, many cities are adopting the notion of smart cities and investing in infrastructure upgrades to increase their sustainability and quality of life. Integrating inductive wireless charging into smart city projects, such as intelligent transportation systems and energy management networks, can help to improve urban mobility and sustainability objectives. China has been actively constructing smart cities since 2015. China's smart city development is based on Zhou Enlai's "Four Modernizations" strategy. These programs seek to modernize agriculture, industry, research and technology, and national security by the end of the century. The deployment of inductive wireless charging infrastructure creates an economic opportunity for enterprises that manufacture, install, and maintain charging stations. It also promotes job growth and boosts local economies, particularly in areas prioritizing renewable energy and sustainable transportation efforts.
| Study Period | 2020-2032 | CAGR | 8.2% |
| Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
| Base Year | 2023 | Base Year Market Size | USD 20.9 billion |
| Forecast Year | 2032 | Forecast Year Market Size | USD 42.6 billion |
| Largest Market | Europe | Fastest Growing Market | Asia-Pacific |
The global inductive wireless charging market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.
Europe is the most significant global inductive wireless charging market shareholder, estimated to grow at a CAGR of 8.6% over the forecast period. Government attempts in Europe to minimize pollution have led to adopting electric vehicles throughout the area. According to a European Environment Agency (EEA) assessment, electric vehicles release fewer greenhouse gases and air pollutants during their lifecycle than gasoline and diesel vehicles. As a result, governments are supporting the use of electric vehicles. The area's governments are spending heavily on EV infrastructure and mobility programs to stimulate supply growth.
For example, the Amsterdam government has issued special city-wide parking licenses for electric car-sharing fleets. On March 5, 2024, the UK government announced a combined 71.5 million Pound investment in automotive research and development programs to boost electric vehicle (EV) technologies. The investment includes 40 million Pounds for wireless charging research. The government is also investing Pound 70 million in electric car charging, which will fund a pilot program to install extra ultra-fast EV chargers at ten highway service stations across England. According to the Society of Motor Manufacturers and Traders, after the government intended to establish infrastructure for battery-electric cars, car registrations in the UK climbed by 61.7% to 2,461 in June 2019, compared to sales in June 2018.
Asia-Pacific is anticipated to exhibit a CAGR of 8.8% over the forecast period. The growing popularity of battery-powered consumer electronics gadgets such as smartphones, tablets, and portable media players has increased the number of wires, which has caused issues. The population in Asia-Pacific is gradually adopting technologically improved solutions and systems, creating more attractive potential for the industry. Smartphone users in the region are expanding at an alarming rate, creating a demand for wireless charging technology.
In addition to consumer electronics penetration in the region, electric cars are gaining significant traction in nations like China. According to the East Asia Forum, China's electric vehicle (EV) manufacturing is predicted to reach 8 million units in 2023, accounting for 25% of total automotive sales in China. This compares with 22% in the European Union, 6% in the United States, and 3% in Japan. The primary reason for China's growing sales of electric vehicles is a decrease in the quality of cars produced in previous years. Chinese-made automobiles are of lower quality than imported cars, forcing the country to incorporate innovative technology to remain competitive. Electric vehicles rely more on electrical power than on mechanical complexity. As a result, the Chinese government is currently supporting a move from combustion engines to electric cars.
North America holds a significant market share. The United States earned considerable income in North America in 2023, thanks to the presence of key players. Furthermore, the federal government of the United States is actively pushing the penetration and implementation of electric vehicles in the country, driving the growth of the wireless electric charging market. However, Canada is projected to have the greatest CAGR throughout the forecast period due to increased foreign investment in the country's manufacturing of wireless charging units and medical equipment. Furthermore, Mexico increases its market position through a variety of corporate techniques.
In the Middle East and Africa, and South America, growth could be more active due to lower adoption of electric vehicles and wireless electric charging. However, Saudi Arabia, the UAE, and Brazil focus on strengthening the electronic manufacturing business, which is experiencing significant market expansion.
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The global inductive wireless charging market is segmented based on type and application.
The type is further segmented into Electromagnetic Induction, Magnetic Resonance.
Electromagnetic Induction transmits electrical energy between two coils that generate a magnetic field. Inductive wireless charging generates a magnetic field by passing a current through a coil in the charging station. When a device with a suitable coil is put on, or near the charging pad, the magnetic field induces a current in the coil, which charges the battery. The Qi standard, often used in smartphones and other consumer devices, is based on electromagnetic Induction.
Additionally, Qi-compatible gadgets have a coil for receiving electricity, whereas Qi charging pads or surfaces have a coil for delivering it. When the device is put on the charging pad, the electromagnetic field generates a current in the device's coil, allowing for wireless charging. According to the Wireless Power Consortium (WPC), the group that developed the Qi standard, approximately 2500 Qi-certified products were on the market in 2021. This demonstrates the ubiquitous use of electromagnetic Induction in the consumer electronics industry.
Magnetic resonance wireless charging transfers energy between coils that resonate at the same frequency. This technology offers greater device placement freedom and supports charging on non-metallic surfaces. Magnetic resonance charging is intended to address some of the constraints of electromagnetic Induction, such as the requirement for precise alignment between the charging pad and the device. WiTricity is a startup that develops magnetic resonance wireless charging technology. Their solutions use resonant coils to transport energy over longer distances and provide more placement flexibility. This is especially useful in automobile applications, where accurate alignment can be difficult.
The market can be bifurcated by application into Domestic/Residential and commercial.
In commercial contexts, inductive wireless charging is used in various industries, including hospitality, retail, healthcare, and transportation. Commercial locations frequently use wireless charging systems to improve client experiences, increase efficiency, and increase customer engagement. Customers may use wireless charging stations to charge their smartphones while shopping at a retail store. Similarly, airlines, coffee shops, and restaurants frequently include wireless charging stations to improve the customer experience and drive foot traffic. Market research indicates that firms in various industries increasingly invest in inductive wireless charging systems to differentiate their offers and attract customers. The commercial category has a significant growth opportunity for wireless charging technology vendors as businesses prioritize consumer convenience and engagement.
Inductive wireless charging is most commonly used in the home to charge consumer gadgets such as smartphones, tablets, smartwatches, and wireless earphones. Wireless charging pads or surfaces are often seen in homes, allowing users to charge their gadgets without cables. Inductive wireless charging is becoming increasingly popular in home settings due to its convenience and ease of usage. According to market research, customer demand for wireless charging solutions for personal devices is increasing, accelerating the segment's growth.
The impact of COVID-19 has unprecedented effect across all industrial vertical globally. However, the demand for air ambulance services has significantly increasedamid pandemic COVID-19 on account of exponential surge in COVID-19 patients globally which created the dire need for emergency services for critical patients. Thus, to meet the growing demand for many governments and major aviation industry collaborate to offers air ambulance services during this critical scenario. For instance, in September 2020, Karnataka Government, a state in India has launched air ambulance services to offer adequate medical facilities to people during this pandemic COVID-19.
