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Wireless Electric Vehicle Charger Market Industry Share, Size, Trends, Dynamics, Business Growth, Demand, Top Companies, and Forecasts 2032.
Market Overview:
According to MRFR analysis, The Wireless Electric Vehicle Charger market industry is projected to grow from USD 0.40 Billion in 2023 to USD 1.6 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 50.00% during the forecast period (2023 - 203.
The concept of wireless electric vehicle charging is based on the principle of inductive coupling, in which energy passes through an electric device and is used to charge batteries. For this method to work, there needs to be a charging base station where energy transfer can take place between two objects. The growing demand for electric vehicles has led to high demand for wireless electric vehicle charging solutions. In the future, the market demand is expected to rise due to the continued demand for electric vehicles and awareness of sustainable mobility solutions. The outbreak of Covid 19 has generated a significant decline in the demand for wireless electric vehicle charging technologies globally, thereby reducing the sales volume. The decrease in mobility has resulted in people spending less on such technologies. Nevertheless, it is projected that the global wireless electric vehicle charging market will experience a rebound during the forecast period as restrictions are lifted by different national governments.
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