The global electric vehicle connectors market is a rapidly growing industry that focuses on the production and supply of connectors specifically designed for electric vehicles (EVs). These connectors play a crucial role in facilitating the charging and power transfer between EVs and charging infrastructure. The market is driven by the increasing adoption of electric vehicles, supportive government initiatives, and the growing infrastructure for EV charging stations. As the demand for EVs continues to rise, the electric vehicle connectors market is expected to witness significant growth in the coming years.
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Data Bridge Market Research analyses that the Electric Vehicle Connectors Market is expected to reach a value of USD 169,019.42 Thousand by 2029, at a CAGR of 17.6% during the forecast period. The growing popularity and adoption of electric vehicles (EVs) globally is a major driver for the electric vehicle connectors market. As the number of EVs on the road increases, the demand for efficient and reliable connectors for charging infrastructure and vehicle connectivity rises.
Increasing environmental concerns is expected to drive the market's growth rate
Increasing environmental concerns, such as air pollution and greenhouse gas emissions, have propelled the demand for sustainable transportation solutions. Electric vehicles, powered by clean energy sources, are recognized for their substantial reduction in emissions. To support the widespread adoption of electric vehicles, a robust charging infrastructure is necessary. Electric vehicle connectors play a crucial role in facilitating efficient and reliable charging, making them essential components in the transition towards a greener transportation system.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Type 1, Type 2 and Type 3), Material (Copper and Aluminium), Current Type (AC Charging and DC Charging), Charging Speed (Slow, Fast and Rapid), Mounting Type (Wall Mounted and Floor Mounted), Cable Type (Straight Cable and Coiled Cables), Level (Level1, Level 2, Level 3 and Level 4), End User (Commercial and Residential), Sales Channel (OEM and Aftermarket), Vehicle Type (Battery Electric Vehicles and Plug-In Hybrid Vehicles)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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YAZAKI Corporation (Japan), TE Connectivity (Switzerland), Sumitomo Electric Industries, Ltd. (Japan), HUBER+SUHNER (Switzerland), Tesla (U.S.), REMA Lipprandt GmbH Co. KG (Germany), BESEN INTERNATIONAL GROUP CO., LTD. (China), HARTING Technology Group (Germany), Weidmüller (Germany), BizLink Group (Taiwan), Japan Aviation Electronics Industry, Ltd. (Japan), ITT Inc. (U.S.), among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The electric vehicle connectors market is segmented on the basis of type, material, and current type, charging speed, mounting type, cable type, level, end user, sales channel and vehicle type.
- On the basis of type, the global electric vehicle connectors market is segmented into Type 1, Type 2, and Type 3. Type 2 segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.3% in the forecast period of 2022 to 2029 due to it is the most common and popular choice in Asia-Pacific and Europe regions.
In 2022, the Type 2 segment is expected to dominate the type segment of the global electric vehicle connectors market
In 2022, Type 2 segment is expected to dominate the global electric vehicle connectors market owing to the popular choice in Asia-Pacific and Europe regions. Also, Type 2 has been the official charging plug within Europe since 2013, and Asian manufacturers were also switching to European standards with a CAGR of 17.3% in the forecast period of 2022 to 2029.
- On the basis of material, the global electric vehicle connectors market is segmented into aluminum and copper. Copper segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.3% in the forecast period of 2022 to 2029 due to its properties of strong ductility, tensile strength, thermal conductivity, and thermal expansion. Copper also provides a high level of resiliency to higher temperatures which offer extra security against short circuits.
- On the basis of current type, the global electric vehicle connectors market is segmented into AC charging and DC charging. In 2022, the AC charging segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.8% in the forecast period of 2022 to 2029 due to most common mode of charging. Moreover, the majority of public charging stations all around the world are AC charging, which is contributing to the segment's growth.
- On the basis of charging speed, the global electric vehicle connectors market is segmented into slow, fast, and rapid. In 2022, the fast segment is expected to dominate the global electric vehicle connectors market with a CAGR of 18.0% in the forecast period of 2022 to 2029 due to commercial and public electric car charging stations have fast charging. Moreover, there is a rapid deployment of fast chargers as publicly accessible fast chargers facilitate longer journeys and enable longer trips.
- On the basis of mounting type, the global electric vehicle connectors market is segmented into wall mounted, and floor mounted. In 2022, floor mounted segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.8% in the forecast period of 2022 to 2029 due to commonly found in public charging stations, parking lots, or areas where a dedicated charging infrastructure is required. Floor-mounted connectors offer versatility in terms of placement and can be designed to withstand various weather conditions and heavy usage.
- On the basis of cable type, the global electric vehicle connectors market is segmented into straight cable and coiled cable. In 2022, the straight cable segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.2% in the forecast period of 2022 to 2029 due to straight cables are easier to handle and store.
- On the basis of level, the global electric vehicle connectors market is segmented into level 1, level 2, level 3, and level 4. In 2022, the level 2 segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.5% in the forecast period of 2022 to 2029 due to most commonly used for daily EV charging.
- On the basis of end user, the global electric vehicle connectors market is segmented into residential charging and commercial charging. In 2022, the commercial charging segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.9% in the forecast period of 2022 to 2029 due to increasing demand for charging stations from the commercial segment, which in turn increases the demand for connectors for the commercial segment.
- On the basis of sales channel, the global electric vehicle connectors market is segmented into OEM and aftermarket. In 2022, the OEM segment is expected to dominate the global electric vehicle connectors market with a CAGR of 17.7% in the forecast period of 2022 to 2029 due to most preferred sales channel amongst customers.
In 2022, the OEM segment is expected to dominate the sales channel of the global electric vehicle connectors market
In 2022, the OEM segment is expected to dominate the global electric vehicle connectors market owing to it’s the most preferred sales channel amongst customers With a CAGR of 17.7% in the forecast period of 2022 to 2029.
- On the basis of vehicle type, the global electric vehicle connectors market is segmented into plug-in hybrid vehicles and battery electric vehicles. Battery electric vehicles segment is expected to dominate the global electric vehicle connectors market with a CAGR of 18.6% in the forecast period of 2022 to 2029 due to the rising demand for batteries in electric vehicles, with other factors such as increasing government incentives due to increasing pollution concerns all over the world. Battery-operated electric vehicle helps to reduce environmental pollution as these vehicles run on battery power without an internal combustion engine's assistance.
Major Players
Data Bridge Market Research recognizes the following companies as the major electric vehicle connectors market players in electric vehicle connectors market are YAZAKI Corporation (Japan), TE Connectivity (Switzerland), Sumitomo Electric Industries, Ltd. (Japan), HUBER+SUHNER (Switzerland), Tesla (U.S.), REMA Lipprandt GmbH Co. KG (Germany), BESEN INTERNATIONAL GROUP CO., LTD. (China), HARTING Technology Group (Germany), Weidmüller (Germany), BizLink Group (Taiwan)
Market Development
- In 2022, Japan Aviation Electronics Industry, Ltd. launched a new product to the KW02C Series, CHAdeMO (*1) specification-compliant EV charging and discharging connectors, which feature improved waterproof performance and easier handling.
- In 2021, Weidmüller opened a new logistics center near Eisenach, Germany. The new building is the basis for future-oriented and innovative logistics and investment in Germany as a business location.
- In 2022, The MoTeC Group was purchased, according to Robert Bosch GmbH. With this acquisition, the business will be able to expand the range of automotive technology products it provides and expand its marketability.
- In 2021, At the Shanghai New International Expo Centre, NINGBO DEGSON ELECTRICAL CO., LTD declared that the company had attended the Munich Electronics Show. At this event, the company has displayed a range of products for different industries and applications.
Regional Analysis
Geographically, the countries covered in the electric vehicle connectors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is expected to dominate in electric vehicle connectors market during the forecast period 2022-2029
Asia-Pacific region is expected to dominate the global electric vehicle connectors market as Asia-Pacific has the world’s largest market for electric vehicle charging stations which increases the adoption of connectors in the region. An increase in demand for electric vehicles and rapid development in electric charging infrastructure in countries such as Japan and China are key factors that boost the electric vehicle charging connector market. China is the largest manufacturer of electric vehicles and the Government of China has announced plans to adopt electric vehicles in the near future.
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