Wireless Charging Innovation Sparks Transport Revolution: USD 8.2M Trial in Australia & USD 1.9M Pilot in U.S. Pave the Way

Vantage Market Research

Apr 02, 2024

Australia and the United States are at the forefront of a transportation revolution with trials underway for wireless charging technology on roads. In Australia, a groundbreaking initiative led by Swinburne University in collaboration with Siemens AG, Royal Melbourne Institute of Technology, and Sea Electric aims to wirelessly charge electric trucks as they drive. This USD 8.2 million project, partially funded by the government, could transform the trucking industry and contribute to a greener transport sector.

Similar trials in Sweden and the U.S. are already showing promising results. Sweden, for instance, plans to establish the world's first permanent electric motorway by 2025. Meanwhile, in the U.S., Detroit's Corktown area is piloting a quarter-mile section of road with wireless charging capabilities, supported by funds from the Michigan Department of Transit and Electreon.

However, scalability remains a concern due to the high initial costs. While the current cost stands at nearly USD 2 million per mile, experts anticipate a drop in expenses as technology matures. Tongur, from Electreon, predicts costs could decrease to around USD 1.2 million per mile and USD 1,000 per receiver, making it a more viable option for widespread adoption.

To enhance affordability, companies like Electreon are exploring subscription models such as Charging-as-a-Service (CaaS). In Israel, Electreon partnered with Tel Aviv's Dan Bus Company, offering continuous operation of public transit vehicles through this model.

European countries like France, Germany, and Sweden are also investing in electrified roads, with plans to build thousands of miles of charging infrastructure by 2035. These developments align with global efforts to combat climate change and promote sustainable transportation solutions.

Market Outlook: The Rise of Wireless Charging

The wireless charging market is poised for significant growth, estimated to reach USD 29.61 billion by 2032, with a projected CAGR of 21.2%. Key players driving this growth include Energizer Holdings, Inc., Ossia Inc., Qualcomm Technologies Inc., and Belkin International Inc.

Advancements in wireless charging technology, including higher power delivery, improved energy efficiency, and long-distance charging capabilities, are fuelling market expansion. However, compatibility issues with wireless charging devices remain a challenge for industry players to address.

As governments worldwide, including the Biden Administration in the U.S., allocate substantial funding for electric vehicle infrastructure, wireless charging roads could play a crucial role in achieving ambitious sustainability goals. With ongoing innovation and collaboration, the transportation landscape is poised for a transformative shift towards greener and more efficient solutions.

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