Wired Charging Market Expected to Reach $15.9 Billion by 2030

PORTLAND, OREGON, UNITED STATES, March 16, 2023 /EINPresswire.com/ -- The wired charging market size was valued at $11.1 billion in 2020 and is projected to reach $15.9 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030. Wired charging plays an important role in the daily lives of human beings, as everyone is surrounded by chargeable gadgets. The rise in demand for mobile & laptops in this decade led to increasing in demand for wired chargers, which act as the major driving factor for the market. In addition, the rising demand for electric vehicles also boosts the demand for wired charging. Moreover, every country is planning to transform the crude vehicle into electric and this transformation led to increasing demand for wired charging and may act as the major driving factor for the market. Furthermore, the government of every nation is providing subsidies government of India & Japan wants new cars to be electrified to become carbon neutral by 2050, electric vehicles have become more of a necessity for the country to meet these targets.

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The global wired charging market is segmented on the basis of type, charging type, application, and sales channel. Depending on the type, the market is categorized into Type C, Micro USB, lightning, and others. On the basis of charging type, it is divided into standard and fast charging. On the basis of application, it is classified into personal care, consumer electronics, automotive, energy & power, healthcare, and others. Sales Channel-wise, it is categorized into online and offline. Region-wise it is categorized into North America, Europe, Asia-Pacific, and LAMEA.

The global wired charging market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include ABB, AOYAMA Elevator Co., Ltd, Apple Inc., Dell Technologies Inc., Delta Electronics, Inc., Huawei Technology Co., Ltd., Samsung Electronics Co., Ltd., Sunvalley Group, Tesla, and Webasto.

The global wired charging market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2020–2030. The report includes a study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

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Key Findings Of The Study:

- On the basis of type, the Type C segment emerged as the global leader in 2020 and is anticipated to be the largest market during the forecast period.
- On the basis of charging type, the standard segment emerged as the global leader in 2020 and is anticipated to be the largest market during the forecast period.
- On the basis of application, the consumer electronics segment registered the highest market share and is projected to maintain the same during the forecast period.
- On the basis of sales channels, the offline segment registered the highest market share and is projected to maintain the same during the forecast period.
- On the basis of region, the APAC emerged as the global leader in 2020 and is anticipated to be the largest market during the forecast period

Impact Of Covid-19 On The Global Wired Charging Market

- Sales of wired charging are directly proportional to sales of mobiles, tablets, and other gadgets. Global companies such as Philips, Panasonic, Sony, Canon, Nikon, Casio, Pioneer, and others, have a significant share in the manufacturing of mobiles, camera, smartwatches, and others. The gadget (mobile, tablets, except laptop) industry has been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in sales of mobiles & tablets in 2020, which also led to a decline in sales of wired charging.
- The spread of the coronavirus had a severe impact on the global economy through declines in exports, output, and demand from overseas tourists and private use. The major exporter of electronic items and the decrease in demand for electronics led to a decline in demand for wired charging and shows a huge decline in the market.
- The electric car charging system is the major market for wired charging market, but due to the heavy cost of electric cars, the sales of the electric car were declining in covid-19 situation, which also led to a decline in the sales of the wired charging market.
- COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global wired charging market due to the impact of COVID-19.
- The electronic industry acquired a significant share in terms of consumption of wired charging globally. Attributed to the outbreak of the COVID-19 pandemic, the demand for electronic item such as laptops has increased due to an increase in work-from-home culture, which in turn increase the demand for wired charging also.
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using wired charging and thereby affecting the global wired charging market.

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