In the rapidly evolving world of electric vehicles (EVs), wireless charging technology is emerging as a game-changer, propelling the global wireless charging market for electric vehicles from USD 0.080 billion in 2023 to a projected USD 1.279 billion by 2030. With the expansion of EVs worldwide and the development of wireless Vehicle-to-Grid (V2G) energy transfer, the wireless charging market is experiencing substantial growth.

Wireless charging is becoming increasingly attractive due to the rise in sales of electric vehicles and its clear advantages over wired charging. The market is witnessing particularly lucrative opportunities in the Plug-in Hybrid Electric Vehicles (PHEVs) segment, driven by prominent players such as INTIS Integrated Infrastructure Solutions GmbH in Germany and ENRX in Norway. The proliferation of smart road projects across Europe underscores the potential for Original Equipment (OE)-fitted wireless charging systems, especially for PHEVs.

Moreover, the Power Control Unit (PCU) segment in Europe is poised for significant growth. The UK and Germany, as hubs for electronic component manufacturing, are expected to be instrumental in this trend. The PCU is critical for ensuring the safety and efficiency of wireless charging for EVs, regulating power flow to prevent potential hazards and maximizing charging process efficiency, ultimately extending the life of an EV’s battery.

Europe is taking the lead in the growth of the wireless charging market for electric vehicles, driven by the increasing sales of EVs equipped with wireless charging systems. Countries like Spain, Norway, Sweden, Austria, and the UK are witnessing a growing number of EV sales and charging stations.

Innovations in this space are notable, with companies like WiTricity Corporation and ABT e-Line bringing wireless EV charging to the streets of Europe. These trends signify the exciting potential of the wireless charging market for electric vehicles.