Wireless EV Charging Market Growth and Future Trends

Wireless charging is elevating electric mobility (e-mobility)  to new heights, revolutionizing electric vehicle (EV) ownership by making recharging effortless and seamlessly integrated into daily life. Unlike conventional wired connections, wireless charging significantly amplifies the convenience, efficiency, and appeal of e-mobility for both individual drivers and vehicle fleets. 

How Wireless EV Charging Works? 

At its core, wireless charging for electric vehicles eliminates the need for physical cables and plugs to recharge an electric vehicle. Instead, it operates on the principle of electromagnetic fields, enabling the transfer of energy between a ground-based charging pad (or one embedded in the ground) and a corresponding receiver positioned beneath the vehicle. To initiate charging, the vehicle simply needs to be parked over the charging pad, and the energy transfer occurs through the air. This innovative technology streamlines the charging process by eliminating the need for manual plugging and unplugging, creating a smoother and more user-friendly experience. However, it's important to note that current implementations often require the installation of fixed charging pads at designated locations. 

The potential benefits of wireless charging are impressive. In theory, this technology could lead to reduced maintenance costs and a more efficient charging experience. Yet, its present cost remains higher compared to conventional cable-based solutions. However, industry players are betting on scaling up production to drive down costs in the near future. Additionally, the challenge of standardization has been a hurdle to its widespread adoption in the mass market. 

The Society of Automotive Engineers (SAE) has introduced the J2954 standard to promote interoperability and safety in wireless EV charging systems. This standard defines various charging levels, with WPT 1, 2, and 3 supporting up to 3.7 kW, 7.7 kW, and 11 kW, respectively. 

Companies like WiTricity have been instrumental in advancing wireless charging technology, achieving energy conversion efficiencies above 90%. Their systems are designed to work through materials such as cement and asphalt, making them suitable for diverse environments. 

In 2022, the Hyundai Genesis GV60 became one of the first vehicles to offer factory-installed wireless charging options, marking a significant step toward mainstream adoption. 

As of January 2025, wireless EV charging continues to evolve. Research and pilot programs are ongoing, aimed at enhancing efficiency, reducing costs, and establishing universal standards to facilitate widespread adoption.

Empowering dynamic charging with wireless EV charging roads

Charging stationary EVs without a plug is a step forward, yet dynamic induction charging takes it even further. This entails embedding charging coils into the road, making it a wireless EV charging road, enabling cars to charge while in motion Carmakers are enthusiastic about testing this advanced technology.  

In 2024, Norway unveiled the world’s first wireless charging road in Trondheim, marking a significant milestone in sustainable transportation. Developed by Electreon Wireless, this 100-meter segment allows electric buses to charge dynamically as they operate, reducing reliance on stationary charging stations and promoting green energy adoption. 

The United States has also embarked on innovative projects in this domain. In November 2023, Detroit, Michigan, introduced a quarter-mile wireless charging road near Michigan Central Station. This $1.9 million initiative, a collaboration between the state of Michigan, the city of Detroit, Ford, DTE Energy, and Electreon, utilizes inductive coupling technology to power vehicles while driving, representing a significant step toward integrating dynamic charging into urban infrastructure. 

Looking ahead to the 2028 Olympics, Los Angeles, California, plans to construct a half-mile electric vehicle-charging roadway in Westwood. Led by UCLA and funded by state grants, this project aims to upgrade the university’s bus fleet to electric vehicles that can charge wirelessly while in motion, showcasing the potential of dynamic charging in reducing urban emissions and enhancing public transportation efficiency. 

France is set to test an “electric highway” in 2025 on a 2-kilometer stretch of the A10 autoroute near Saint-Arnoult-en-Yvelines. This €26 million project, funded by the French government and led by Vinci Autoroutes in collaboration with the Gustave-Eiffel University and Hutchinson, involves installing inductive coils beneath the asphalt to wirelessly charge vehicles in motion. The initiative aims to reduce the frequency of stops for battery recharging and decrease battery sizes, contributing to the decarbonization of road transport. 

These global developments underscore a concerted effort to explore and implement wireless charging roads as a means to facilitate the widespread adoption of electric vehicles. By enabling on-the-go charging, this technology promises to alleviate common concerns associated with EVs, such as limited range and charging infrastructure accessibility, paving the way for a more sustainable and efficient transportation future.

Challenges:

The implementation of wireless charging roads faces several key challenges. First, the infrastructure costs are substantial, requiring significant investment for both installation and ongoing maintenance. Additionally, there is a pressing need for standardization to ensure compatibility across different vehicles and charging systems, which is essential for widespread adoption. Finally, achieving efficient energy transfer between the road infrastructure and vehicles is critical for the viability of this system, as it directly impacts its effectiveness and sustainability.

Global Market in Wireless EV Charging

The wireless EV charging market was valued at USD 45.7 million in 2024 and is expected to reach USD 567.7 million by 2030, with a CAGR of 55.6% from 2023 to 2030, based on a market report from Next Move Strategy Consulting. 

The wireless electric vehicle charging market is hindered by slower charging rates and higher technology costs compared to traditional cable chargers. Furthermore, wireless charging devices are subject to distance constraints. 

The Asia-Pacific (APAC) region is set to lead this growth trajectory, contributing significantly with a value of USD 22.2 million in 2024. By 2030, it is expected to surge to an impressive USD 218.9 million, reflecting a remarkable compound annual growth rate (CAGR) of 49.8% from 2023 to 2030.  
 
China leads both the APAC and global markets, holding approximately 38% of the total market share. Chinese firms have outpaced their global counterparts in patent applications for EV charging and battery swapping, submitting 41,011 patents from 2010 to 2022. Despite limited individual rankings, the collective efforts of Chinese companies resulted in almost 50% more applications than Japanese firms, which came in second with 26,962. 

Shifting the focus back to the regional markets, Europe claims the second position, even though its market value in 2024 was notably smaller (USD 14.5 million) compared to APAC. However, the European market's growth outpaces that of APAC, with a robust CAGR of 59.4%. Meanwhile, the North American market is projected to experience even more accelerated growth, targeting a CAGR of 62.1%. 

Wireless EV charging market segmented by charging type 

The stationary wireless charging segment is currently at the forefront of the market with a market value of USD 38.7 million in 2024. Predictions indicate it will reach USD 457 million by 2030, showcasing a 54.3% CAGR between 2023 and 2030. Meanwhile, a significant number of advancements are underway in the development of dynamic wireless charging systems. This segment's growth outpaces that of the stationary category. In 2024, the dynamic charging segment reached a valuation of USD 7 million and is on track to achieve USD 110 billion by 2030. This progress is characterized by the highest CAGR of 62.1%. 

Wireless EV Charging Market Segmented by Power Source

Based on power supply, the market is segmented into 3–10 KW, 11–50 KW, and more than 50 KW in the Next Move Strategy Consulting report.  
 
The 3–10 KW segment held a major market share in 2024 with a market value of USD 19.4 million, growing at a CAGR of 53.2% to reach USD 21.9 billion by 2030. 
 
The 11–50 KW power supply segment came close in second position, contributing USD 19.1 million to the total market in 2024. This growth of this segment is predicted to take over the 3-10 KW leadership position as it will reach USD 24.6 billion by 2030. 
 
Over 50 KW is the smallest segment among all, contributing to the market a market value worth USD 7.2 million in 2024. 

Wireless EV charging market segmented by application 

Based on application, the wireless charging for the electric vehicle market is segmented into commercial charging stations and home charging units.  

The commercial charging station sector is poised to experience an impressive CAGR of over 55%. This growth is driven by the increasing necessity to establish EV charging infrastructure in public spaces, the surging demand for commercial wireless charging systems in China, and the widespread adoption of such systems in Europe. The rapid expansion of this segment is heavily influenced by the prevalence of large commercial garage parking facilities and densely populated urban regions.

The commercial charging station market was USD 35.7 million, while the home charging segment was USD 9.9 million in 2024, with a  CAGR of 57.4% 

Wireless EV charging market segmented by charging mechanism 

Based on the charging mechanism, the market is classified into Inductive Power Transfer (IPT), Magnetic Gear Wireless Power Transfer (MGWPT), and Capacitive Wireless Power Transfer (CWPT). 

IPT segment is the highest contributor to this market with a market value of USD 22.1 million in 2024, and is anticipated to reach USD 247 million by 2030, registering a CAGR of 52.91%. Similarly, the Magnetic Gear Wireless Power Transfer segment, currently at USD 15.8 million, is projected to reach USD 206.1 million by 2030. The CWPT segment, which stood at USD 7.8 million in 2024, is anticipated to reach USD 114 million by 2030, with the highest CAGR of 59.9%.  

IPT and MGWPT segments collectively accounted for about 83% share of the global wireless EV charging market in 2024, with the IPT constituting around 48% share. 

Key Players in the Wireless EV Charging Market  

WAVE Charging LLC has emerged as a pioneer in high-power wireless charging solutions, carving out a unique niche in the commercial and transit sector. Since its founding in 2010, they've focused on developing robust charging solutions for commercial fleets. What makes WAVE particularly interesting is their strategic focus on the transit sector - they've successfully implemented their technology with Twin Transit Authority, showcasing the practical application of wireless charging in public transportation.

Plugless Power Inc., established in 2013, took a different approach by targeting the consumer market. They made a significant strategic move by acquiring EVATRAN's wireless inductive charging patent portfolio, strengthening their technological foundation. Their focus on making wireless charging accessible to individual EV owners has positioned them as a key player in the consumer segment of the market.

InductEV presents an interesting case of innovation in the wireless charging space. With their base in King of Prussia, Pennsylvania, they've developed both wireless charging hardware and microgrid solutions. Their recent partnership with ChargePoint demonstrates their commitment to expanding accessibility to wireless charging infrastructure, while their establishment of an Innovation Center shows their dedication to advancing the technology.

WiTricity Corporation stands out as one of the most well-established players, having been in the game since 2007. They've built their reputation on their resonant magnetic coupling technology, which forms the basis of their Halo charging system. What's particularly noteworthy about WiTricity is its extensive collaboration with major automotive manufacturers and its strategic investment from Siemens, which signaled strong industry confidence in its technology.

Electreon Wireless Ltd., an Israeli company founded in 2013, has taken the most ambitious approach by focusing on dynamic wireless charging - the ability to charge vehicles in motion. They've gained significant attention for developing the world's first public electric road system, and their projects span multiple countries, showcasing the global potential of their technology.

Easelink GmbH, based in Austria, brings a European perspective to the market with its innovative Matrix Charging technology. Founded in 2016, they've focused on creating a highly automated charging solution that eliminates the need for manual plug-ins. Their recent expansion into the US market signals their ambitions for global growth.

Each company represents a different approach to solving the wireless charging challenge, from WAVE's focus on commercial applications to Electreon's dynamic charging solutions. Together, they're shaping the future of EV charging, making it more convenient and accessible while pushing the boundaries of what's possible in wireless power transfer technology.

The landscape is marked by strategic partnerships, ongoing innovation, and a race to establish market standards. Rather than direct competition, these companies often focus on different market segments or technological approaches, suggesting that the market is still in its early stages with room for multiple players to succeed with different value propositions.

Sources: Statzon, Next Move Strategy Consulting market report on Wireless EV Charging, Bloomberg, Nikkei Asia, SAE J2954 - Wikipedia, WiTricity - Wikipedia, Norway Got Its First-Ever Wireless Charging Road - MES, We Test Drove The First Wireless EV Charging Road in the U.S. - Time, US News
Electric avenue: LA getting car-charging road ahead of 2028 Olympics - New York Post