Automotive Wireless Charging Trays Market to Expand with Significant CAGR during 2031

Automotive Wireless Charging Trays Market: Introduction

• A wireless charging tray, which can be located on the central console or under the armrest, enables the charging of smartphones without the need of an extra cable.

Key Drivers of Automotive Wireless Charging Trays Market

• One of the major trends driving the automotive industry is the emergence of a sharing economy and growing preference for usership rather than ownership. These car-sharing models have increased the number of cars moving on road. At the same time, ride-hailing, package delivery trends have been fueling the need for convenient charging points in vehicles.

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Challenges in Automotive Wireless Charging Trays Market

• The COVID-19 pandemic has affected local as well as global automotive supply chains, manufacturing and R&D operations, thus hampering the automotive industry. Post first wave of COVID-19, global economies have started opening automotive manufacturing and supply chain operations, thus the COVID-19 impact on the industry seems to have reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has forced governments to impose a second round of lockdown restrictions. Consequently, the uncertainty in the automotive industry continues. However, easing of lockdown restrictions and stagnant demand during the times of lockdown have resulted in the recovery of automotive and ancillary sales in the last few months.

Opportunities in Automotive Wireless Charging Trays Market

• Decrease in the prices of automotive wireless charging trays in the next few years, is estimated to prompt OEMs to install wireless charging trays in medium and low range vehicle classes, thereby offering significant opportunity for the automotive wireless charging trays market

Asia Pacific to Dominate Automotive Wireless Charging Trays Market

• In terms of geography, Asia Pacific is a significant market for automotive wireless charging trays. China is a prominent market for the automotive industry with an annual sale of 25.76 million new vehicle units. India is also a prominent market with future sales and production of vehicles in the country driven by a rise in the population and income levels of the middle class. In 2019, India became the fourth largest auto market, in terms of sales, displacing Germany, with about 3.99 million units sold in the passenger and commercial vehicles categories. Furthermore, the Government of India is focused on the development of domestic manufacturing and R&D industry in the country under the scheme of ‘Make in India’, thus offering considerable opportunity for the wireless charging trays market in the country. Japan and South Korea are major automotive producing countries in the region with the presence of prominent and established automotive brands such as Hyundai, Honda, Nissan, and Kia that are export-centric and cater to the domestic demand for automobiles. Consequently, these factors are estimated to propel the automotive wireless charging trays market in the region.

Key Players Operating in Automotive Wireless Charging Trays Market

The global automotive wireless charging trays market is consolidated. A few of the key players operating in the global automotive wireless charging trays market are:

• HARMAN International
• Aircharge
• INBAY
• Molex
• Infineon Technologies AG
• WiTricity Corporation

Global Automotive Wireless Charging Trays Market: Research Scope

Global Automotive Wireless Charging Trays Market, by Vehicle Type

• Passenger Vehicle
• Hatchback
• Sedan
• Utility Vehicle
• Light Duty Vehicle
• Buses & Coaches
• Trucks

Global Automotive Wireless Charging Trays Market, by Sales Channel

• OEM
• Aftermarket

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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