Industry: Retail and Consumer | Publish Date: 16-Feb-2024 | No of Pages: 100 | No. of Tables: 70 | No. of Figures: 35 | Format: PDF | Report Code : N/A
Norway Induction Charger Market was valued at USD 15.93 million in 2023, and is predicted to reach USD 53.82 million by 2030, with a CAGR of 18.3% from 2024 to 2030.
The induction charger industry, part of the wider consumer electronics sector, is undergoing swift evolution and gaining recognition on the global technology front. This field is dedicated to advancing and spreading wireless charging technology, a method that enables the transmission of electrical power without relying on physical connectors or cables.
Fundamentally, the technology behind induction chargers is grounded in electromagnetic induction, employing an electromagnetic field to facilitate the transfer of energy between two objects – typically a charging pad and a compatible device.
With a population close to 5.5 million, Norway leads the region in e-commerce, boasting a 92% online shopping penetration rate, higher than Sweden's 86%. E-commerce contributes significantly to Norway's economy, accounting for almost 5% of its GDP. In 2022, e-commerce revenue reached USD 8.64 billion and is projected to grow to about USD 14.6 billion by 2027. Consequently, this growth is expected to have a positive impact on the induction charger market.
Norway's consumer electronics market, driven by online retailers like Komplett and Elkjøp, has experienced substantial growth, with Komplett's net sales surpassing USD 400 million and Elkjøp's exceeding USD 370 million in 2022.
The robust online presence of these companies, especially Komplett, has generated increased demand for associated technologies, solidifying their dominance in the e-commerce sector.
This trend is anticipated to have a positive impact on the wireless charging industry, as the upswing in online sales of electronic devices creates a greater demand for convenient charging solutions in the Norwegian market.
The extensive embrace of USB Type-C connectors in wired chargers poses a considerable obstacle to the induction charger market. This standardization ensures compatibility with a wide range of devices, establishing USB Type-C as a convenient and adaptable charging solution. Its rapid charging capabilities, often surpassing those of many wireless chargers, enhance its allure, especially for users prioritizing swift charging experiences.
The launch of Qi v2.0, the latest wireless charging standard, is poised to impact the induction charger industry significantly. Offering enhanced features such as magnetic attachment, improved charging speed, higher efficiency, and greater convenience, Qi v2.0 is set to elevate user experiences.
With the first Qi v2.0 certified devices, including Apple's iPhone 15 series and various power transmitters, expected to hit the market during Christmas, significant manufacturers, including Belkin, Mophie, Anker, and Aircharge, are gearing up with compatible products. Over 100 devices are already undergoing testing or certification for Qi v2.0.
This new standard is expected to unify the wireless charging industry, promoting smoother, faster charging and broader interoperability. As Qi v2.0 becomes the global benchmark for wireless charging, its adoption will likely simplify the market and enhance universal compatibility, driving growth in the induction charger sector as more consumers move towards Qi v2.0 compatible charging solutions.
The Norway Induction Charger industry includes several market players such as Samsung Electronics Co. Ltd., Apple Inc, Anker Innovations Technology Co. Ltd., Belkin International, Inc., Xiaomi Corporation, Huawei Technologies, ASUSTeK Computer Inc., ZAGG INC., Energizer Holdings, Inc., and Aukey Corporation Limited.
5W to 15W
16W to 30W
Above 30W
Qi Standard
AirFuel
E-Commerce or Online
Offline
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 15.93 Million |
Revenue Forecast in 2030 |
USD 53.82 Million |
Growth Rate |
CAGR of 18.3% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
|
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
Samsung Electronics Co. Ltd.
Apple Inc
Anker Innovations Technology Co. Ltd.
Belkin International, Inc.
Xiaomi Corporation
Huawei Technologies
ASUSTeK Computer Inc.
ZAGG INC.
Energizer Holdings, Inc.
Aukey Corporation Limited.