The Europe Wireless Charging IC Market would witness market growth of 19.9% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Wireless Charging IC Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $845.4 million by 2031. The UK market is exhibiting a CAGR of 18.8% during (2024 - 2031). Additionally, The France market would experience a CAGR of 20.9% during (2024 - 2031).
The electric vehicle sector is growing rapidly, driven by increasing environmental awareness and government policies promoting clean energy. These ICs are also making their way into the EV industry, where they enable inductive charging of electric vehicles. Wireless EV charging systems allow for more convenient charging solutions, reducing the need for bulky charging cables.
These ICs are increasingly used in healthcare devices, such as medical implants, wearables, and diagnostic equipment. These devices often require regular recharging but may be difficult or impractical to charge using traditional methods due to their design or size. Wireless charging offers a solution by eliminating the need for connectors, ensuring a more reliable and efficient way to recharge devices.
Expanding industrial production in the EU, particularly in the electronics and automotive sectors, presents a substantial demand for wireless charging technologies. As industries scale up production and innovate to stay competitive, there is an increasing need for more efficient, cost-effective, and space-saving charging solutions. The continuous growth of industrial production in the European Union (EU), highlighted by an 8% increase in 2021 and a further 5% rise in 2022, along with a substantial 19% surge in the value of sold production, has significant implications for this market in Europe. Hence, the rising industrial production and increased value of sold production in the EU present significant growth prospects for the wireless charging IC market.
Free Valuable Insights: The Global Wireless Charging IC Market will Hit USD 13.72 Billion by 2031, at a CAGR of 20.2%
Based on Component, the market is segmented into Receiver ICs, and Transmitter ICs. Based on Power Range, the market is segmented into Medium (5W-15W), High (15W and above), and Low (up to 5W). Based on Application, the market is segmented into Consumer Electronics, Automotive, Healthcare, Industrial, and Other Application. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Component
By Power Range
By Application
By Country
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