Norway Induction Charger Market

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Norway Induction Charger Market by Power Output (5W to 15W, 16W to 30W, Above 30W), by Charging Standard (Qi Standard, AirFuel), and by Distribution Channel (E-Commerce or Online and Offline) – Opportunity Analysis and Industry Forecast 2024–2030

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

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Market Definition

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.

Booming E-commerce Industry  in Norway Fuels Induction Charger Market Growth 

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.

 

Surge in Consumer Electronics Fuels Induction Charger Market Growth

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 Standardization of Wired Chargers Hinders the Growth of the Induction Charger 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.

 

Introduction of Qi v2.0 Standard for Wireless Charging Creates Ample Opportunity

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.

 

Competitive Landscape

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.

Norway Induction Charger Market Key Segments

By Power Output        

  • 5W to 15W

  • 16W to 30W

  • Above 30W            

By Charging Standard        

  • Qi Standard

  • AirFuel

By Distribution Channel

  • 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

  • The upswing in online sales of electronic devices.

  • Rising e-commerce sector in the country.

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.

KEY PLAYERS

  • 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.

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Frequently Asked Questions

According to the report published by the Next Move Consulting, the Norway induction charger market business is expected to hit at $53.82 million (USD) by 2030.

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.

The Norway induction charger market share is segmented on the basis of power output, charging standard, and distribution channel.

The induction charger market in Norway is on the rise, propelled by the upswing in online sales of electronic devices and rising e-commerce sector in the country.

The extensive embrace of USB Type-C connectors in wired chargers poses a considerable obstacle to the induction charger market.

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