Global Electric Vehicle Charging Cables Market, By Application (Private Charging, Public Charging), Power Supply Type (Alternate Charging, Direct Charging), Cable Length (Meters to 5 Meters, Meters to 10 Meters, Above 10 Meters), Shape (Straight Cable, Coiled Cable), Charging Level (Level 1, Level 2, Level 3), Jacket Material (All Rubber Jacket, Thermoplastic Elastomer (TPE) Jacket, Polyvinyl Chloride (PVC) Jacket), Current (16-32 Amp, 33-72 Amp), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Electric Vehicle Charging Cables Market
Data Bridge Market Research analyses that the electric vehicle charging cables market would exhibit a CAGR of 33.00% for the forecast period and is expected to reach the USD 3,205.25 million by 2029.
In various regions, electric vehicle (EV) charging cables are deployed for electric vehicles that enable various charging modes. Electric vehicle charging cords allow drivers to charge their electric vehicles in a matter of minutes and go much further distances. To make them easier to handle, these cables have a lower diameter.
The upsurge in adoption rate of electric vehicles will influence the growth rate of electric vehicle charging cables market during the forecast period of 2022-2029. The electric vehicle charging cables market is likely to grow significantly due to the rising government initiatives to speed up the development of charging stations. Also, heightened awareness about the high durability of coiled cables is a contributing factor to the growth rate of electric vehicle charging cables market. Furthermore, technical innovations in EV charging cables and rising demand for luxury electric vehicles are the major market drivers that will have positive impact on the market’s growth rate. Some of the factors that will accelerate the demand for electric vehicle charging cables market include reduction in charging time, high price of petrol and high charging efficiency.
Moreover, developments in the charging infrastructure will carve the beneficial opportunities for the growth of electric vehicle charging cables market. Additionally, rapid growth of electric component manufacturing industries and emerging new markets will act as significant market driver and hence further boost new opportunities for the market’s growth.
However, rising safety concerns about charging connections and high price of Dc charging cables will stymie the revenue growth of electric vehicle charging cables market. The the emergence of wireless electric vehicle charging will pose a major challenge for the growth of electric vehicle charging cables market. Also, technological barriers and severe impact of COVID-19 on manufacturing as well as supply chain operations of various industries will act as major market restrain that will further hinder the growth of electric vehicle charging cables market during the above mentioned forecast period.
This electric vehicle charging cables market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on electric vehicle charging cables market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Electric Vehicle Charging Cables Market Scope and Market Size
The electric vehicle charging cables market is segmented on the basis of application, power supply type, cable length, shape, charging level, jacket material and current. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of application, the electric vehicle charging cables market is segmented into private charging and public charging.
- The power supply type segment of the electric vehicle charging cables market is segmented into alternate charging and direct charging.
- Cable length segment of the electric vehicle charging cables market is segmented into meters to 5 meters, meters to 10 meters, and above 10 meters.
- The shape segment of the electric vehicle charging cables market is segmented into straight cable and coiled cable.
- Charging level segment of the electric vehicle charging cables market is bifurcated into level 1, level 2 and level 3.
- Jacket material segment of the electric vehicle charging cables market is bifurcated into all rubber jacket, thermoplastic elastomer (TPE) jacket and polyvinyl chloride (PVC) jacket.
- On the basis of current, the market is segmented into 16-32 Amp and 33-72 Amp.
Electric Vehicle Charging Cables Market Country Level Analysis
The global electric vehicle charging cables market is analysed and market size insights and trends are provided by country, application, power supply type, cable length, shape, charging level, jacket material and current as referenced above.
The countries covered in the electric vehicle charging cables market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the electric vehicle charging cables market due to the rising demand for electric vehicles in this region. In addition to this, swift expansion of electric vehicle component manufacturers along with the presence of leading original equipment manufacturers and tier-1 suppliers such as Phoenix Contact and Leoni AG will flourish the growth of electric vehicle charging cables market in this region. Also, continuous research and development activities on electric vehicle charging cable will influence the market’s growth rate in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the presence of several electric vehicle parts manufacturing industries in this region.
The country section of the electric vehicle charging cables market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Electric Vehicle Charging Cables Market Share Analysis
The electric vehicle charging cables market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to electric vehicle charging cables market.
Some of the major players operating in the electric vehicle charging cables market are LEONI AG, Brugg Kabel AG, Yangzhou Teison New Energy Co., Ltd., Prysmian S.p.A., Aptiv, BESEN-Group, DYDEN CORPORATION., TE Connectivity., SINBON Electronics Co., Ltd., Coroplast Fritz Müller GmbH & Co. KG, PHOENIX CONTACT, Systems Wire Cable, Eland Cables, Manlon Polymers, Chengdu Khons Technology Co., Ltd., Allwyn Cables, IONITY GmbH, Elkem ASA, HWATEK Wires & Cable Co.,Ltd., among others.
Recent Developments
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In January 2021, TE Connectivity Ltd., has launched the AMP+ charging inlet for EVs and hybrid passenger and commercial vehicles. These products are employed for handling AC of up to 32 Amperes and DC of up to 200 Amperes.
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In September 2021, ABB has launched an innovative all-in-one Electric Vehicle (EV) charger named Terra 360. Terra 360 is a modular charger that can charge up to four automobiles at the same time using dynamic power distribution. The new charger has a maximum power of 360 kW and can fully charge any electric vehicle in 15 minutes or less, serving to a wide range of EV consumers.
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