Microwave Power Transmission Market Size & Share, by Technology (Near-Field, Far Field); Component (Signal Generator, Power Amplifier, Transceiver Antenna, Rectifier Circuit); Application (Space Solar Power Station, Payload Spacecraft Module, High Power Weapon, EV Battery, Medical Device); Industry (Automotive, Aerospace, Healthcare, Consumer Electronics, Defense) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5237
  • Published Date: Sep 15, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Microwave Power Transmission Market size is expected to surpass USD 14 Billion by the end of 2036, growing at a CAGR of 21% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of microwave power transmission was USD 3 Billion. The reason behind the growth is impelled by the rising adoption of renewable energy sources across the globe. The fastest-growing energy source is renewable energy, which includes wind and solar energy as they emit little to no greenhouse gases and are widely accessible.

Moreover, renewable energy, often referred to as clean energy, comes from natural sources or processes which are often located in remote areas. This necessitates the usage of microwave power transmission as it can transfer power over distances of 10 to 15 cm with high efficiency, without the need to deploy a wired power network. More than 90% of the expansion in the world's electricity capacity is anticipated to come from renewable sources by 2026.

The growing adoption of battery-powered devices are believed to fuel the market growth. The number of smart, wirelessly linked devices that rely on batteries for power is rapidly increasing as these batteries can provide convenient and efficient charging solutions. The microwave power transfer technology is more practical and simple to use as cables and connectors are not required, and it can charge the devices wirelessly and without connections.


Microwave Power Transmission Market
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Microwave Power Transmission Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand of Electric Vehicles – It is expected that the growing need to decrease reliance on foreign oil, greater consumer interest, and policies by the government is anticipated to drive market growth. Microwave power transmission is used for powering electric vehicles as it has the capability of charging for a running vehicle. According to estimates, the global demand for EV batteries rose by more than 60% in 2022 compared to the previous year, particularly in China.
  • Growing Aerospace Sector- Microwave wireless power transmission (MWPT) has wide application in the aerospace industry as it is compatible with aerospace wireless sensor network systems, and can improve the flight performance of aerospace craft, which require a high-energy-density supply when in flight. Revenues from global commercial aerospace are predicted to increase by over 13% YoY in 2023.

Challenges

  • High Initial Investment - Microwave power transmission system installation calls for a sizable upfront investment in research & development and infrastructure development. As a result, many companies and regions with limited budgets are unable to invest in this technology.
  • Safety and Regulatory Concerns related to Microwave Radiation
  • Interference of Weather with Microwave Transmission

Microwave Power Transmission Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~21%

Base Year Market Size (2023)

~ USD 3 Billion

Forecast Year Market Size (2036)

~ USD 14 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Microwave Power Transmission Segmentation

Application (EV Battery, Medical Device, Space Solar Power Station, Payload Spacecraft Module, High Power Weapon)

The space solar power station segment is estimated to hold 25% share of the global microwave power transmission market in the coming years. Space solar power stations transform solar energy into microwaves, which it then transmits to a receiving antenna on Earth where it is transformed into electric power without the interference of Earth’s atmosphere. This electric power is then transmitted by microwave power transfer (MPT) to the Earth without any interruptions and energy losses.

Technology (Near-Field, Far Field)

Microwave power transmission market from the near-field segment is set to garner a notable share shortly. Near-field technology also known as non-radiative or inductive coupling refers to systems with a transfer distance within the wavelength (λ) of the transmitter part “antenna” that operates based on the near-field electromagnetic coupling of coils and is used to transfer power over short distances by magnetic fields. Moreover, microwave-based wireless power transfer in the near field is now attracting a lot of interest, which is expected to drive the segment’s growth.

Our in-depth analysis of the global market includes the following segments:

             Technology

  • Near-Field
  •  Far Field

              Component

  • Signal Generator
  • Power Amplifier
  •  Transceiver Antenna
  •  Rectifier Circuit

               Application

  • Space Solar Power Station
  • Payload Spacecraft Module
  • High Power Weapon
  • EV Battery
  •  Medical Device

               Industry

  • Automotive
  • Aerospace
  •  Healthcare
  •  Consumer Electronics
  • Defense
 

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Microwave Power Transmission Industry- Regional Synopsis

APAC Market Forecast

Microwave power transmission market in Asia Pacific is predicted to account for the largest share of 44% by 2036 impelled by the rapid urbanization. India has made significant urban progress as more people move there in pursuit of employment opportunities. The rising urban population is expected to increase the consumption of energy in the region, which may drive the demand for microwave power transmission.

Lately, India has a population of around 1200 million people, with over 30% urbanization rate.

North American Market Statistics

The North America microwave power transmission market is estimated to hold the second largest of 24%, during the forecast timeframe led by the presence of extreme climatic conditions. Moreover, the world's most extreme weather conditions which includes which include heat waves, cold waves, and significant precipitation or storm events such as tropical cyclones can be found in North America, particularly in the USA. As a result, power disruptions from severe weather have increased over the previous 20 years across the US. This is expected to significantly drive the demand for microwave power transmission to ensure constant energy transmission in such conditions.

Research Nester
Microwave Power Transmission Market size
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Companies Dominating the Microwave Power Transmission Landscape

top-features-companies
    • Qualcomm, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Samsung Electronics Co., Ltd.
    • TDK Corporation
    • Texas Instruments, Inc.
    • Nucurrent, Inc.
    • Powermat Technologies, Ltd.
    • Powerbyproxi, Ltd.
    • Witricity Corporation
    • Convenientpower Hk, Ltd.
    • Salcomp PLC

In-the-news

In The News

In the News

  • Samsung Electronics Co., Ltd. announced its aim to entirely shift towards clean energy to power its global operations including semiconductors to achieve net zero carbon emissions by 2050
  • Texas Instruments, Inc. acquired Commergy Technologies, Ltd. to expand its attention to enhancing energy efficiency in current end-equipment designs, and enable its clients to easily adjust to the dynamic computer and communications sectors.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5237
  • Published Date: Sep 15, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising adoption of renewable energy sources across the globe and the growing adoption of battery-powered devices are the major factors driving the growth of the market.

The market size of Microwave Power Transmission is anticipated to attain a CAGR of 21% over the forecast period, i.e., 2024 – 2036.

The major players in the market are Texas Instruments, Inc., Nucurrent, Inc., Powermat Technologies, Ltd., Powerbyproxi, Ltd., Witricity Corporation, Convenientpower Hk, Ltd., Salcomp PLC.

The space solar power station segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Microwave Power Transmission Market Report Scope
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