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Automotive Wireless Charger Market

Automotive Wireless Charger Market

Automotive Wireless Charger Market Analysis By Power (5 W, 10W & 15W Chargers) By Charger Type (Built-in Chargers & Portable Chargers) By Technology (Inductive, Resonant & Radio Frequency Chargers) By Vehicle Category, Sales Channel & Region – Global Insights 2022 to 2032

Automotive Wireless Charger Market
FACT7605MR
  • Aug-2022
  • List of Tables : 168
  • List of Figures : 134
  • 170 Pages
  • Automotive

Global Automotive Wireless Charger Market Outlook (2022-2032)

The global automotive wireless charger market is valued at US$ 1.3 billion in 2022 and is predicted to expand at a stupendous CAGR of 21.9% to reach a market size of US$ 9.5 billion by the end of 2032. Luxury passenger vehicles accounted for 46.6% share of the global market in 2021.

Revenue from the sales of automotive wireless chargers accounted for nearly 5% share of the global wireless charger market in 2021.

Report Attributes

Details

Automotive Wireless Charger Market Size (2021A)

US$ 1.1 billion

Estimated Market Value (2022E)

US$ 1.3 billion

Forecasted Market Value (2032F)

US$ 9.5 billion

Global Market Growth Rate (2022-2032)

21.9% CAGR

North America Market Share (2021)

~37.7 %

East Asia Market Growth Rate (2022-2032)

~28.2% CAGR

United States Market Growth Rate (2022-2032)

~17.4% CAGR

Market Share of Top 5 Companies

~27.1%

Key Companies Profiled

  • HARMAN
  • 2E
  • Aircharge
  • Belkin
  • Continental
  • etatronix
  • hoco Tech
  • Huawei
  • Infineon
  • LG
  • MPS
  • NXP
  • Powermat
  • ROHM

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Sales Analysis of Automotive Wireless Chargers (2017-2021) Vs. Market Forecasts (2022-2032)

Wireless technology has witnessed significant growth across all end-use verticals. Manufacturers of wireless chargers have channelized their focus on the automotive end use as it offers high-potential revenue generation opportunities.

Manufacturing companies will continue to see a rise in automotive wireless charger sales due to the ever-growing automobile industry. Major players are integrating in-car wireless chargers that will boost the effectiveness of vehicles as a result of disruptive products from new entrants and small- to medium-sized players.

There is a chance to realize the promise of greater productivity, transparency, and efficiency with the integration of automotive wireless chargers.

  • Short Term (2022 Q2 to 2025): Augmenting utilization and integration of consumer electronics in the automobile industry to positively impact automotive wireless charger market growth.
  • Medium Term (2025-2028): North America and East Asia to witness high demand for automotive wireless chargers with rising demand for vehicles.
  • Long Term (2028-2032): Advancements in high-end technology in smart devices and mounting automotive industry to drive market demand.

From 2017 to 2021, the global automotive wireless charger market registered a CAGR of 6.3%. As per a detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, the market is projected to balloon at 21.9% CAGR over the next ten years.

Automotive wireless charger market forecast by Fact.MR

Market share analysis of automotive wireless chargers based on technology and region. Based on technology, inductive wireless chargers dominate with 74.5% market share.

Why is the Popularity of Automotive Wireless Chargers Rising Rapidly?

“Smart Devices with Advanced Technology to Fuel Demand for Automotive Wireless Chargers”

The Automotive industry is one of the biggest manufacturing sectors in the world. In 2020, around 78 million vehicle units were produced worldwide. To attract consumers, manufacturers and automakers provide newer technology and devices to embrace the future by utilizing high-end technology devices.

Nowadays, wireless charging is a new trend and has already become popular. There are different wireless charging methods available to charge devices with a reduced number of cords needed. Automotive wireless chargers provide a single cable plugged into the electronic mat on which the device is faced.

This advanced technology has numerous benefits, such that the driver can charge the device anytime and anywhere by just placing the device on the electronic mat of the wireless charger. Additionally, once the device is fully charged, the wireless charger automatically shuts off. This increases the efficiency and reduces the heating of the device.

As such, the market for automotive wireless chargers is expected to showcase 7.2X growth over the forecast period.

“Expanding Automotive Industry to Push Sales in the Market”

The automotive industry is rapidly increasing owing to the emergence of electric vehicles and their sustainability offering. OEM technologies and increasing sales of automobiles are also impacting economic growth.

Alongside, rising infrastructure development programs and improving road conditions are also the major reasons for the increase in vehicle sales. Rapid urbanization and expansion of global auto manufacturers are boosting the growth of the automotive industry.

The automotive industry is still dealing with the shortage of semiconductors and shipping disruptions due to the pandemic. Despite this, the automotive industry is still growing rapidly.

  • By the end of 2021, around 57 million passenger vehicles and 18.5 million light commercial vehicles were produced globally, wherein, 150+ car brands have in-car wireless chargers integrated into the vehicles.

An Adaptive Approach to Modern-day Research Needs

Country-wise Insights

What is the U.S. Market Scenario for Automotive Wireless Chargers?

The United States automotive wireless charger market is currently estimated at US$ 374 million and is expected to expand at a CAGR of 17.4% during the forecast period. The United States dominates the market as it enjoys huge investments in the automotive industry.

In 2020, the United States covered around 6.6 million kilometers of road networks. The automotive aftermarket is growing immensely with the growing adoption of consumer electronics. Along with technological advancements and significant growth in the automotive sector, the market will reach a valuation of US$ 2.1 billion by 2032.

Most manufacturers are focusing on providing the latest features in vehicles, which is very beneficial for the driver to operate easily and efficiently. Because of the rapid growth of the automotive sector and a large number of market players operating in the country, the United States will hold significant potential for automotive wireless charger sales over the coming years.

Why is the China Automotive Wireless Charger Market So Lucrative?

China is expected to reach a market valuation of US$ 2.2 billion in 2032. Being the world’s largest automotive market and automotive manufacturing country, China accounted for around 32% of vehicle production in the world. Around 19.7 million passenger vehicles were registered in 2021, which drove economic growth in the country.

In China, local manufacturers dominate with significant market share by value. By establishing ventures with domestic automobile manufacturers, most foreign brands were allowed to produce new vehicles in China. China has also introduced several measures such as subsidies for car purchases, tax exemptions, and many more.

Owing to these factors, the China automotive wireless charger market is expected to grow and continue to dominate the global market.

Category-wise Insights

How is Inductive Wireless Charging Technology Creating Additional Revenue Generation Opportunities?

Wireless charging is based on electromagnetic induction. This inductive wireless charging means that the device need not be plugged into a power source, which increases the charging capacity and allows the driver to easily operate the device while driving. This advanced technology aims to charge consumer electronics efficiently without the requirement of any cord.

Due to the high power request from receivers, wireless chargers also increase the flexibility to operate the battery, which avoids damage to the device. The integration of inductive technology in automotive wireless chargers has witnessed significant growth at 22.9% CAGR and is expected to reach a market valuation of US$ 977.1 million in 2022.

Why are Built-in Automotive Wireless Chargers Most Widely Used?

Built-in automotive wireless chargers are an integrated part inside vehicles and can wirelessly charge smartphones, wearables, and other Qi-compatible devices. Manufacturers are concentrating on wireless chargers with built-in capabilities, which will offer a much more practical way to charge a device while travelling.

Additionally, it offers fast charging through cordless charging of the gadget. Thus, the adoption of built-in automotive wireless chargers has increased steadily, surpassing a market valuation of US$ 923.2 million in 2021.

With the mounting global automotive industry, demand for the built-in type of wireless chargers is predicted to surge at a CAGR of 22.3% over the decade.

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Competitive Landscape

Prominent automotive wireless charger manufacturers are HARMAN, 2E, Aircharge, Belkin, Continental, etatronix, hoco Tech, Huawei, Infineon, LG, MPS, NXP, Powermat, and ROHM.

Global manufacturers of automotive wireless chargers are focusing on the technologies to stay ahead of the competition. Key manufacturers are focusing on advances in wireless charging to provide additional benefits to end users.

New product launches, partnerships, manufacturing expansion, etc., are commonly witnessed in this market space.

  • In January 2022, ROHM Co Ltd announced the development of an automotive wireless charging solution integrated with NFC communication. It will allow key features such as Foreign Object Detection (FOD), which will help detect metallic objects and NFC will enable infotainment operations via device authentication.

Fact.MR has provided detailed information about the price points of key manufacturers of automotive wireless chargers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Automotive Wireless Charger Industry Research

  • By Power :

    • 5 W Chargers
    • 10W Chargers
    • 15W Chargers
  • By Charger Type :

    • Built-in Chargers
    • Portable Chargers
      • Windshield Mounts
      • Vent Mounts
      • Dash Mounts
  • By Technology :

    • Inductive Chargers
    • Resonant Chargers
    • Radio Frequency Chargers
  • By Vehicle Category :

    • Passenger Vehicles
      • Mid-Size
      • Compact
      • Luxury
      • SUVs
    • Commercial Vehicles
  • By Sales Channel :

    • OEMs
    • Aftermarket
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global market for automotive wireless chargers is currently valued at US$ 1.3 billion.
Worldwide demand for automotive wireless chargers is anticipated to reach US$ 9.5 billion by 2032.
Over the past 4 years, sales of automotive wireless chargers increased at 6.3% CAGR.
The East Asia automotive wireless charger market leads with 30.7% market share predicted for 2032.
Built-in automotive wireless chargers account for 83.8% market share.

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