The global automobile wireless charger market is valued at US$ 1.3 billion in 2022 and is expected to increase at a stupendous CAGR of 21.9% to attain a market size of US$ 9.5 billion by the end of 2032. Luxury passenger vehicles accounted for 46.6% share of the global market in 2021.
Revenue from the income of automotive wireless chargers accounted for almost 5% share of the global wireless charger market in 2021.
Why the Demand of Automotive Wireless Chargers is growing rapidly?
According to the Fact.MR, The Automotive industry is one of the largest manufacturing sectors in the world. In 2020, around 78 million automobile units have been produced worldwide. To appeal to consumers, producers and automakers furnish more modern science and devices to embrace the future through making use of high-end science devices.
Nowadays, wireless charging is a new style and has already become popular. There are exceptional wireless charging strategies accessible to charge units with a decreased variety of cords needed. Automotive wireless chargers provide a single cable plugged into the electronic mat on which the device is faced.
U.S. Market Scenario for Automotive Wireless Chargers
The United States automotive wireless charger market is presently estimated at US$ 374 million and is anticipated to extend at a CAGR of 17.4% throughout the forecast period. The United States dominates the market as it enjoys massive investments in the automobile industry.
In 2020, the United States included around 6.6 million kilometers of road networks. The automotive aftermarket is growing immensely with the developing adoption of consumer electronics. Along with technological advancements and widespread increase in the car sector, the market will attain a valuation of US$ 2.1 billion by 2032.
China Market for Automotive Wireless Chargers
China is expected to reach at a valuation U$$ 2.2 bn in 2032. China is the world’s largest automotive market and manufacturing country, china has accounted around 32% of production in the world. Around 19.7 mn passenger vehicles were registered in 2021 which helps in increasing economic growth in the country.
Why are Built-in Automotive Wireless Chargers Most Widely Used?
Built-in automotive wireless chargers are an integrated part inside cars and can wirelessly cost smartphones, wearables, and other Qi-compatible devices. Manufacturers are concentrating on wi-fi chargers with built-in capabilities, which will provide a much more sensible way to cost a device while travelling.
Additionally, it gives speedy charging via cordless charging of the gadget. Thus, the adoption of built-in automotive wireless chargers has accelerated steadily, surpassing a market valuation of US$ 923.2 million in 2021.
These insights are based on a report on automotive wireless charger market by Fact.MR.
