Triton’s research on the Europe wireless charging market depicts that it will grow at a CAGR of 22.74% in terms of revenue during the forecast period 2019-2028.
The countries analyzed in the report on this market include:
• United Kingdom
• Germany
• France
• Spain
• Italy
• Russia
• Rest Of Europe
The United Kingdom has set a target to have only electric cars or low-emission cars on its roads by 2040. It is one of the fourteen nations to have set an ambitious goal of increasing its electric car adoption, so as to decrease its carbon footprint. The nation’s government, in its efforts to encourage people to switch to hybrid and electric vehicles, aims to ban the sales of all new diesel & petrol cars by the year 2040. The rise in the adoption of electric vehicles will lead to an enhanced demand for wireless charging in the country. This will fuel the growth of the wireless charging market in the UK.
Germany is the second-largest market for wireless charging in Europe. It is expected to grow at an even faster rate in the regional market during the forecast period. This is because the country is the largest manufacturer of cars and supercars and also boasts of numerous manufacturing companies under its domain. Manufacturers like BMW, Audi, Mercedes, Volkswagen, and several others, are based in Germany. These companies are swiftly moving towards equipping their automotive & electric vehicles with wireless charging features. Furthermore, the government of the country is also taking measures to enhance public awareness regarding vehicular emissions resulting from conventional vehicles, as well as boost the purchase of EVs in the country.
Infineon Technologies AG provides semiconductor and system solutions. The company offers automotive system microcontrollers (MCUs), integrated circuits (ICs), and smartcard ICs, among others. Infenion has a strong market presence in the global market for wireless charging, with a strong sales & distribution network. It has a well-developed R&D infrastructure, and invested $856.7 million for the same in FY2017. The Germany-based company has its headquarters in Neubiberg, Bayern.
The top key players in the wireless charging market are Powermat, Belkin International Inc, Semtech, Aircharge, Samsung, Energous Corporation, WiTricity Corporation, TDK Corporation, Qualcomm Technologies Inc, Renesas Electronics Corporation (Integrated Device Technology Inc), ConvenientPower HK Limited, Infineon Technologies AG, Texas Instruments Incorporated, NuCurrent, and NXP Semiconductors.