Global in car wireless charging market 2023

How does in-car wireless charging work?

Charging cars without wires works in a similar way to the wireless phone charger you might already own, just on a bigger scale. You might have noticed how you can lift your phone very slightly off its charger without stopping the flow of electricity - wireless car chargers work in the same way, but in a distance measured in inches instead of millimeters.

Global In-Car Wireless Charging Market Research Report and Forecast 2023

How does in-car wireless charging work?

Charging cars without wires works in a similar way to the wireless phone charger you might already own, just on a bigger scale. You might have noticed how you can lift your phone very slightly off its charger without stopping the flow of electricity - wireless car chargers work in the same way, but in a distance measured in inches instead of millimeters.

In-car wireless charging is based on wireless technology and used for powering up devices such as smartphones, smartwatches, and music players by using charging transmitters and receiver pads. These charging devices are highly adopted in electric vehicles, fuel-based luxury cars, and premium vehicles. Various auto manufacturers such as Mercedes and BMW are integrating retrofit charging devices largely based on Qi standards. The Qi standard is compatible with most of the advanced smartphones with wireless charging capability. 

Regional Analysis

The market for in-car wireless charging is expected to show the highest growth rate in Asia-Pacific due to advancements in automotive technology and the increased adoption of electric vehicles.

The global in-car wireless charging market is expected to grow at 40.8% CAGR during the forecast period 2017–2023.

In 2017, the market was led by North America with 36.19% share, followed by Europe, and Asia-Pacific with shares of 31.2% and 19.4% respectively.

There has been a significant development in electric vehicles in China and Japan with retrofit wireless charging pads for smartphones. At present, the US and Germany are the most advanced countries in the adoption of in-car wireless charging. However, Asia-Pacific is experiencing advancements in this field. Thus, the region has become lucrative for the firms that provide in-car wireless charging equipment and components.

 

Market Segmentation

The global in-car wireless charging market has been segmented on the basis of technology, charging standard, device type, vehicle type, distribution, and region. Based on technology, inductive power transfer accounted for the largest market share of 67.0% in 2017, with a market value of USD 1,182.6 million, and is projected to grow at a CAGR of 41.1% during the forecast period. Based on device type, the smartphones segment accounted for the largest market share of 81.7% in 2017, with a market value of USD 1441.8 million, and is projected to grow at the CAGR of 40.8%.

Key Players

The key players of in-car wireless charging market are Hella KGaA Hueck & Co. (Germany), Samsung Electronics Co., Ltd (South Korea), ZENS (Netherlands), Infineon Technologies AG (Germany), Powermat Technologies Ltd (Israel), Qualcomm Technologies, Inc. (US), Apple Inc. (US), Mojo Mobility, Inc. (US), PowerSquare (India), Aircharge (UK), and WiTricity Corporation (US).

Global In-Car Wireless Charging Market Analysis & Forecast, from 2017 to 2023

• To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the in-car wireless charging market.
• To provide insights about factors affecting the market growth.
• To analyze the in-car wireless charging market based on Porters five force analysis.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries—North America, Europe, Asia-Pacific, and the rest of the world.
• To provide country-level analysis of the market with respect to the current market size and future perspective.
• To provide country-level analysis of the market for segments on the basis of technology, charging standard, device type, vehicle type, distribution, and region.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the in-car wireless charging market.

Key Findings

• The global in-car wireless charging market is expected to reach USD 13,748 million by 2023.
• Based on the technology, the segment inductive power transfer is expected to lead the market by generating the highest revenue of USD 1182.6 million in 2017 and is expected to grow with 41.1% CAGR in the forecast period.
• Based on the charging standard, the Qi standard segment led the market by generating the highest revenue of USD 1410.5 million in 2017 and is expected to grow with 41.2% CAGR during the forecast period.
• Based on the device type, the smartphones segment led the market by generating the highest revenue of USD 1441.8 million in 2017 and is expected to grow with 40.8% CAGR in the forecast period.
• Based on the vehicle type, the segment fuel-based led the market by generating the highest revenue of USD 1034.6 million in 2017 and is expected to grow with 41.0% CAGR in the forecast period.
• Based on the distribution, the OEM segment led the market by generating the highest revenue of USD 1217.8 million in 2017 and is expected to grow with 41.4% CAGR in the forecast period.
• Geographically, North America region has been projected to hold the largest market share in the global in-car wireless charging market, followed by Europe.

Regional and Country Analysis of In-Car Wireless Charging Market Estimation and Forecast

Global in-car wireless charging market, by region, is expected to be led by North America with the CAGR of 40.1% during forecast period. Europe has successfully accounted for the second position in the in-car wireless charging market with a CAGR of 40.7%. Asia-Pacific is the fastest growing market with 42.0% CAGR. However, the rest of the world is growing with a slow CAGR of 41.0% during the forecast period.

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Evaporative Air Coolers !

India Evaporative Air Cooler Market Outlook, 2022

The report gives a comprehensive analysis of the evaporative air cooler industry in India. This industry is constantly evolving with the advent of new players along with existing established companies foraying into this space. A few years ago, the air cooler market was majorly dominated by the unorganized players as spending too much on air coolers wasn't considered necessary. Also, these products were not ranked very high on the consumer's priority list, plus the only thing that was required from an air cooler was superior cooling and that could be achieved with a simple evaporative air cooler priced at between INR 2500 and INR 3500. The scenario of unorganized players overpowering the organized ones has finally changed in 2016. The temperature rise happening every year is impossible to live in with just an electric fan, therefore new and trendy air coolers are the go-to option. Also, consumer spending is increasing which has positively affected the lifestyle of people in India, creating massive demand for evaporative air coolers.

Evaporative Air Cooler Industry Analysis in India

According to "India Evaporative Air Cooler Market Outlook, 2022", a lot of new players have entered in the air cooler space such as Vego, Hindware, Voltas, Cello and many more. Cello introduced a new range of air coolers by leveraging its long background in high-quality plastic and polymers. The evaporative air coolers of Cello, designed for today's generation are manufactured by Wim Plast Ltd., a subsidiary of Cello group. HSIL Limited, promoters of brand Hindware, recently forayed into the air cooler market by launching its latest line of air coolers with changeable colorful front panels under their brand Hindware Snowcrest. Vego has had more than 4 decades of experience in various industries like export, imports, raw material processing, plastic molding, OEM manufacturing of apparels & garments and also a strong foothold in the real estate business. Currently, the air cooler market has a very low penetration rate in the country; still, it is witnessing tremendous growth in the volumes sold every year.

Air coolers have proved to be one of the superior alternatives to air conditioners (lower life-cycle cost and enhanced flexibility). Rising prosperity and increasing environmental consciousness are likely to generate attractive air cooler market growth over the foreseeable future. The Government of India launched an initiative of Make in India in 2015 that paved the way for air cooler manufacturers to produce their products locally. While this development no doubt gives a major incentive to global as well as in-house air cooler manufacturers, there are many benefits associated with ‘making in India’ that can add greater value to the entire business chain. One of the most important factors that have traditionally influenced the country’s evaporative air cooler market has been the value-for-money mindset of the Indian consumer. With consumers wanting the best of any evaporative air cooler at the most budget-friendly prices, manufacturing in India is helping OEMs cut down their manufacturing costs. Not only will India-based manufacturing unlock access to cheaper labor and raw materials, but also evade the need to pay customs duty each and every time. This is a great step by the Government towards the growth of the economy as a whole as well as growth in different sectors, evaporative air coolers in this case.

Category: Technology Market Research

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Aarkstore Enterprise
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