Wireless EV charging market forecast to hit $12.4 billion by 2033

Wireless charging for electric vehicles is moving steadily from “nice-to-have” convenience to a strategic part of charging infrastructure. A new market report from Allied Market Research suggests the technology is poised for rapid growth over the next decade, despite cost and performance hurdles.

For eeNews Europe readers, this is useful to know because wireless EV charging is increasingly tied to system-level design decisions — from power electronics and interoperability standards to smart-grid integration and fleet automation. It also highlights where investment and product opportunities may emerge first, particularly in Europe and Asia.

Strong growth outlook, but cost and speed remain barriers

According to the report from Allied Market Research, the global wireless electric vehicle charging market was valued at $466 million in 2023 and is forecast to reach $12.4 billion by 2033. The report estimates this expansion will occur at a CAGR of 38.6% from 2024 to 2033.

Wireless power transmission, which transfers energy from a transmitter to a receiver without physical connectors, is gaining momentum through advances in charging mats and ground pads designed specifically for EVs. However, the release notes that high integration costs and slower charging speeds compared to conventional methods continue to hamper adoption.

EV uptake and smart infrastructure push adoption

The report points to EV sales growth in North America and Europe — supported by government incentives and environmental policies — as a key driver. It also highlights demand for new charging infrastructure as a factor accelerating wireless solutions, especially for applications where convenience and automation matter.

According to the release, sectors such as automotive, logistics and public transportation are exploring wireless EV charging for its operational efficiency. Allied Market Research also notes that integration with smart grid and Internet of Things (IoT) technologies is opening opportunities for real-time monitoring, energy management and predictive maintenance.

Dynamic charging and higher power transfer on the roadmap

The report highlights emerging innovations such as dynamic wireless charging, where EVs can charge while in motion using road-embedded infrastructure. It also cites advances in magnetic resonance and inductive coupling that could enable wireless power transfer up to 22kW, approaching many wired charger capabilities.

According to the release, bidirectional wireless charging could support vehicle-to-grid functionality, while compatibility with autonomous vehicles and self-parking EVs could make wireless charging a core enabler for robotaxi fleets.

Segment highlights

Allied Market Research reports that passenger cars are expected to see the highest growth, while the aftermarket segment generated the largest revenue in 2023. Regionally, Asia-Pacific led the market in 2023, driven by investment and technology development. The study also found that the home segment contributed the highest revenue in 2023, and is projected to grow strongly through 2033, according to the release.