The growing adoption of electric vehicles due to their efficiency and eco-friendly nature has driven the demand for fast-charging infrastructure in recent years. Sales of electric cars – battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) – nearly doubled year-on-year to 6.6 million in 2021. In 2021, more than 16.5 million electric vehicles were on the road worldwide. The sales of electric vehicles in the U.S., which had increased by more than two folds from 2020 to 630,000 units, stood second (10%) to China and Europe. These together accounted for more than 85% of all EV sales in 2021.
Electric vehicles are expected to be utilized for city commutes as well as long-distance traveling. Most EVs in the market do not have a range of more than 100 miles and hence, require fast-charging solutions to ensure smooth, uninterrupted travel.
Wireless charging is a potential solution for the fast-changing requirements since it can provide up to 11 kilowatts of power, comparable to level-2 chargers. Many wireless technology companies such as WiTricity Corporation (U.S.), InductEV Inc. (U.S.), and Wave, LLC (U.S.) are making huge investments in the research & development of fast-charging wireless power transfer solutions for electric vehicles.
For instance, Oak Ridge National Laboratory (U.S.) has developed a 20kW wireless charger that can deliver three times faster charging than standard plug-in units with over 90% efficiency. This charger can charge a car from 0% to 80% in 20 to 60 minutes. Such developments are expected to support the growth of the wireless electric vehicle charging systems market during the forecast period.
In Addition, the standardization of wireless electric vehicle charging systems and the growing use of electric vehicles in public transport/logistics create growth opportunities for the global wireless electric vehicle charging market. In May 2016, the Society of Automotive Engineers (SAE) issued global standards for wireless electric vehicle charging. The SAE J2954 standard establishes an industry-wide specification that outlines the criteria for interoperability, electromagnetic compatibility, EMF, minimum performance, safety, and testing for wireless power transfer of electric vehicles. The specification mentions various charging levels comparable to SAE J1772 conductive AC charging levels and enables the selection of charging rates based on vehicle requirements, allowing better vehicle packaging and ease of customer use. The standard has been established to facilitate the interoperability between wireless electric vehicle charging and plug-in EV charging, keeping in mind the ease of use for customers. The publishing of wireless charging standards has paved the way for OEMs and players operating in the wireless electric vehicle charging space, enabling interoperability and commercialization of wireless electric vehicle charging products. This will encourage further research & development in the wireless electric vehicle charging space.
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