Growing Demand for Fast-Charging Infrastructure and Wireless Charging in Electric Vehicles

The Wireless Electric Vehicle Charging Systems Market was valued at $145.9 million in 2023. This market is expected to reach $4,333.1 million by 2031 from an estimated $202.6 million in 2024, at a CAGR of 54.9% during the forecast period from 2024 to 2031.

The shift to electric vehicles (EVs) is accelerating, driven by the need for cleaner, more efficient transportation solutions. With global EV sales nearly doubling to 6.6 million units in 2021, battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) are increasingly common on the roads. This rapid adoption highlights the demand for robust charging infrastructure to support a growing fleet of EVs worldwide. With over 16.5 million electric vehicles on the road globally, the U.S. saw its EV sales rise sharply to 630,000 units in 2021, making it the second-largest EV market after China and Europe. Together, these three regions accounted for more than 85% of all EV sales that year.

Need for Fast-Charging Solutions

Electric vehicles are ideal for both urban commuting and long-distance travel. However, many EVs currently on the market have a limited range—often under 100 miles—necessitating fast-charging options to ensure uninterrupted travel. Fast-charging solutions help overcome “range anxiety,” a common concern among EV owners regarding the battery running out before reaching the next charging station.

Wireless Charging: A Promising Solution for EV Fast Charging

Wireless EV charging technology has emerged as a viable fast-charging solution, delivering up to 11 kilowatts of power, which is comparable to Level 2 plug-in chargers. Companies like WiTricity Corporation, InductEV Inc., and Wave LLC are investing heavily in the research and development of wireless power transfer technology for EVs, envisioning a future where EVs can charge seamlessly without the need for physical plug-in connections.

Innovative advances, such as the wireless charger developed by Oak Ridge National Laboratory, highlight the potential of wireless charging technology. The lab’s 20kW wireless charger provides power at over 90% efficiency, enabling it to charge an EV from 0% to 80% in as little as 20 to 60 minutes, making it three times faster than standard plug-in units. These advancements in charging speed and efficiency are expected to drive the adoption of wireless EV charging systems in the coming years.

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Standardization of Wireless Charging Systems: A Key to Market Growth

Standardization is crucial for the widespread adoption and interoperability of wireless EV charging systems. In May 2016, the Society of Automotive Engineers (SAE) introduced the SAE J2954 standard, a globally recognized framework for wireless EV charging. This standard ensures compatibility and sets essential criteria for safety, performance, electromagnetic compatibility, and testing, providing a baseline for EV manufacturers and wireless charging technology providers.

SAE J2954’s inclusion of various charging levels—comparable to the conductive SAE J1772 AC charging levels—gives EV owners flexibility in choosing charging rates based on their vehicles’ needs. Standardization not only simplifies the customer experience but also facilitates greater adoption of wireless charging systems by enabling interoperability across different EV models and charging stations. This standard has opened avenues for further R&D, leading to advancements in wireless charging technology that make it increasingly viable for everyday EV use.

Opportunities in Public Transport and Logistics

The EV sector is expanding beyond private vehicle ownership to include public transport and logistics fleets. Cities and governments worldwide are promoting the use of EVs in public transport to cut down emissions, creating substantial growth opportunities for wireless charging in public transport. Fleet operators benefit from wireless charging’s convenience and reduced downtime, making it a preferred choice for high-utilization vehicles like buses, taxis, and delivery trucks.

Conclusion

The rising adoption of electric vehicles, combined with the need for fast and efficient charging solutions, underscores the growing importance of wireless EV charging systems. Supported by government incentives, industry-wide standards, and advancements in technology, wireless charging holds promise as a convenient, user-friendly solution for EV owners and fleet operators alike. As wireless charging technology continues to mature, the market is poised for significant growth, fueled by further R&D and a focus on interoperability, enabling EV drivers to power their vehicles with greater ease and efficiency than ever before.

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