Europe Wireless EV Charging Market Growth After Market: Global Industry Analysis and Forecast (2024-2030)

Europe Wireless EV Charging Market Growth Poised for Exponential Growth, Projected to Reach USD 16.97 Billion by 2030
Innovations in wireless charging technology and increasing EV adoption drive market expansion across Europe.

Market Estimation & Definition

The Europe Wireless EV Charging Market Growth is experiencing unprecedented growth, with a valuation of USD 1.96 billion in 2023. Projections indicate a robust Compound Annual Growth Rate (CAGR) of 36.12% from 2024 to 2030, aiming to achieve nearly USD 16.97 billion by 2030.

Wireless EV charging eliminates the need for physical connectors, enabling electric vehicles to charge through electromagnetic fields. This technology enhances user convenience by allowing vehicles to charge simply by parking over a designated charging pad, streamlining the charging process and reducing wear and tear associated with traditional plug-in methods.

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Market Growth Drivers & Opportunities

Several factors are propelling the growth of the wireless EV charging market in Europe:

Surging Adoption of Electric Vehicles: In 2022, electric cars accounted for 21.6% of new car registrations in the EU, nearing two million registrations—a significant increase from 1.74 million in 2021. Electric vans also captured a 5.5% share of new registrations during the same period. ​

Environmental Awareness and Government Incentives: Growing environmental consciousness and governmental policies promoting sustainable transportation are encouraging consumers to transition to electric vehicles. Incentives such as tax breaks, grants, and subsidies for EV purchases and infrastructure development are further stimulating market growth.​

Technological Advancements: Continuous investments in research and development are enhancing charging efficiency and reducing charging times. Companies like Qualcomm and Witricity Corporation are pioneering innovations in resonant magnetic induction and resonant inductive coupling, respectively, to improve wireless charging experiences. ​

Infrastructure Expansion: The development of wireless charging infrastructure across public and private sectors is facilitating the widespread adoption of this technology. Collaborations between automotive manufacturers, technology providers, and governmental bodies are accelerating the deployment of wireless charging stations.​

Segmentation Analysis

The Europe Wireless EV Charging Market is segmented based on several key factors:

Component:

Base Charging Pad (Transmitter): Installed on the ground, this component generates the electromagnetic field necessary for energy transfer.​

Power Control Unit: Manages the power flow between the grid and the charging pad, ensuring efficient and safe energy transfer.​

Vehicle Charging Pad (Receiver): Mounted on the vehicle's underside, this pad receives energy from the base charging pad and converts it into usable power for the vehicle's battery.​

Power Supply Range:

3–<11 kW: Suitable for residential and low-power applications, offering moderate charging speeds ideal for overnight charging.​

11–50 kW: Targets commercial and public charging stations, providing faster charging suitable for short stops.​

50 kW: Designed for high-demand scenarios, such as fleet operations and heavy-duty vehicles, delivering rapid charging capabilities.​

Charging Type:

Stationary Wireless Charging System: Allows vehicles to charge while parked over a charging pad, commonly used in residential settings and designated parking spots.​

Dynamic Wireless Charging System: Enables vehicles to charge while in motion, utilizing charging infrastructure embedded in roadways, representing an innovative approach to extending driving range without stopping.​

Technology:

Inductive Charging: Employs electromagnetic induction between two coils to transfer energy wirelessly, widely adopted due to its efficiency and reliability.​

Resonant Inductive Coupling: Enhances inductive charging by tuning both coils to a mutual frequency, allowing for greater energy transfer over longer distances and improved alignment tolerance.​

Capacitive Charging: Utilizes electric fields between conductive plates to transfer energy, though less common, it offers potential advantages in specific applications.​

Application:

Home Charging Unit: Caters to residential users, providing the convenience of charging vehicles at home without the need for cables.​

Public Charging Station: Serves the broader public, installed in locations such as parking lots, shopping centers, and along highways to support EV users on the go.​

Country-Level Analysis

While the focus is on Europe, it's insightful to consider developments in other key markets:

United States: The U.S. is witnessing significant advancements in wireless EV charging infrastructure. For instance, California is set to establish the nation's second electric vehicle-charging roadway ahead of the 2028 Olympics in Los Angeles. This project involves embedding wireless inductive charging technology beneath a half-mile stretch of road in Westwood, allowing vehicles to charge while driving over embedded chargers. ​

Germany: As a leading automotive hub, Germany is investing heavily in EV infrastructure. The country's commitment to sustainable transportation is evident through initiatives aimed at expanding the EV charging network, including exploring wireless charging solutions to support the growing number of electric vehicles on its roads.

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Competitive Analysis

The Europe Wireless EV Charging Market features several prominent players driving innovation and competition:

Qualcomm: Introduced its Wireless Electric Vehicle Charging (WEVC) technology, utilizing resonant magnetic induction for high-efficiency power transfer. Qualcomm's technology aims to enhance user convenience and charging efficiency. ​

Witricity Corporation: A leader in wireless charging innovations, focusing on resonant inductive coupling to improve charging experiences across various EV applications. Witricity's technology emphasizes interoperability and efficiency. ​

Plugless Power: Offers wireless charging solutions compatible with multiple EV models, emphasizing ease of use and seamless integration