Rising demand and sustainable development of electronic gadgets and rising demand for electric cars have driven the growth of the Japanese wired charging market.
PORTLAND, OREGON, USA, March 6, 2022 /EINPresswire.com/ — The Wired charging market in Japan size was valued at $0.8 billion in 2020 and is expected to reach $1.2 billion by 2030, growing at a CAGR of 3.8% from 2021 to 2030. Wired charging plays an important role in life everyday life of human beings, because everyone is surrounded by paid gadgets. The rise in demand for cell phones and laptops in this decade has led to an increase in the demand for wired chargers which is the main driver of the market. Moreover, the growing demand for electric vehicles is also driving the demand for wired charging. In addition, the Japanese market plays an important role in wired charging, as Japan is the world’s third largest plug-in light vehicle market after China and the United States. Also, the Japanese government wants new cars to be electrified to become carbon neutral by 2050, electric vehicles have become a necessity for the country to achieve these goals. Japan is one of the biggest emitters of greenhouse gases and automobiles are a big part of that.
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The Japanese wired charging market is segmented on the basis of type, type of charging, application and sales channel. Based on type, the market is categorized into Type C, Micro USB, Lightning, and others. Based on the charging type, it is divided into standard and fast charging. Based on application, it is categorized into personal care, consumer electronics, automotive, energy and power, healthcare, and others. In terms of sales channels, it is categorized as online and offline.
the Analysis of the wired charging market in Japan covers detailed information about the major players in the industry. ABB, AOYAMA Elevator Co., Ltd, Apple Inc., Dell Technologies Inc., Delta Electronics, Inc., Huawei Technology Co., Ltd., Samsung Electronics Co. are some of the key players operating and profiled in the report on wired charging industry in Japan. , Ltd., Sunvalley Group, Tesla and Webasto.
The Japan wired charging market is analyzed and estimated based on the impacts of drivers, restraints and opportunities. The period studied in this report is 2020-2030. The report includes the study of the market with respect to growth prospects and restraints based on 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.
Main results of the study:
Based on type, type-C segment emerged as the global leader in 2020 and is expected to be the largest market during the forecast period.
Based on the type of recharge, the standard segment has become the global leader in 2020 and is expected to be the largest market during the forecast period.
Based on the demands, the consumer electronics segment recorded the highest market share and is expected to maintain it during the forecast period.
Based on sales channel, the offline segment recorded the highest market share and is expected to sustain during the forecast period.
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Impact of Covid-19 on the global bromine derivatives market
Wired recharge sales are directly proportional to sales of mobiles, tablets and other gadgets. Japanese companies such as Philips, Panasonic, Sony, Canon, Nikon, Casio, Pioneer and others have a significant share in the manufacture of mobiles, cameras, smart watches and others. The gadget industry (mobiles, tablets, except laptops) was negatively impacted by the lockdown imposed due to the COVID-19 outbreak and saw a huge drop in sales of mobiles and tablets in 2020, which also led to a decline in wired charging sales.
The spread of the coronavirus has had a severe impact on the Japanese economy due to declining exports, production, demand from overseas tourists and private use. Japan is the main exporter of electronic items and the drop in demand for electronics has led to a drop in the demand for wired charging and shows a huge decline in the market.
Electric cars are also major markets for the wired charging market, but due to the high cost of electric cars, the sales of electric cars have declined in the covid-19 situation, which has also led to a decline in sales of the wired charging market.
COVID has impacted almost every industry by hampering various industrial operations and disrupting the supply chain. A maximum of companies have interrupted their activity due to a reduction in the workforce. However, the Japanese wired charging market is slowly declining due to the impact of COVID-19.
The electronics industry has acquired a large share in terms of wired charging consumption in Japan. Attributed to the outbreak of the COVID-19 pandemic, the demand for electronic items such as laptops has increased due to the increase in working from home, which in turn is also increasing the demand for wired charging.
In addition, import and export business has been significantly affected, which in turn has adversely affected industries using wired charging and thus affected the Japanese wired charging market.
According to UNIDO, 30.0% to 70.0% of the pre-COVID-19 workforce in various industries, such as electricity and other third-party providers, migrated to their hometown, in due to uncertainties and loss of income during lockdown. This unavailability or reduced availability of labor is expected to directly affect production and manufacturing activities, thereby leading to lower demand for raw materials used in wired charging. This is expected to slow the growth of the market over the forecast period.
Automotive production garners a significant share in terms of wired charging usage. The automotive industry was negatively affected by the lockdown imposed due to the COVID-19 outbreak and saw a decline in the number of on-road vehicles (passenger and commercial) in 2020. This further reduced the demand for wired charging due to the disrupted supply chain, which in turn has hampered the Japanese wired charging market.
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