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EV Charging Cable Market By Usage (Private and Public), By Dimension (>10m, 6m-10m, and <5m), By Charging Level (Level-1, Level-2, and Level-3), By Form (Coiled and Straight), By Power Distribution (Direct Charging and Alternate Charging), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028

Covid-19

Global EV Charging Cable Market Size, Share

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Industry Insights

[215+ Pages Report] According to Facts and Factors, the global EV charging cable market was valued at roughly USD 0.45 Billion in 2021 and is expected to rise to approximately USD 3.2 Billion by 2028, with a compound annual growth rate (CAGR) of approximately 38.5% over the projection period. The report explores the EV charging cable market’s drivers, restraints, and challenges and the effect they have on the demands during the projection period. Furthermore, the report explores upcoming opportunities in the Electric Vehicle (EV) charging cable market.

logoMarket Overview

EV charging cables are cables that are used in infrastructure to charge electronic vehicles. The key driver of the global EV charging cable market is the widespread adoption of electric vehicles due to environmental concerns. These charging cords collect AC electricity from the plug socket and convert it to DC power, which is then used by the car. These charging cables are outfitted with liquid-cooling technology to properly disperse heat and reduce the possibility of overheating. Because of their ease of maintenance and environmental friendliness, water-glycol mixtures are the most commonly used coolants.

In addition, there is a controller present that monitors the temperature and regulates the flow of the coolant. Fast-charging technologies, as well as effective charging times and capacity, have resulted from technological developments. EV charging cables are designed to carry the maximum amount of electricity to charge the vehicle in the shortest amount of time. Coiled charging cables and DC charging cables are predicted to be in high demand shortly.

logoCovid-19 Impact:

The global manufacturing and distribution of automobiles had ceased due to the disruption of the whole supply chain caused by the initial breakout of COVID-19. Manufacturers had to pause production until lockdowns were eased before they could resume manufacturing, which had an impact on their businesses. As a result, automakers are expected to modify their manufacturing volumes. In addition, component manufacturing was halted, and tiny Tier 2 and Tier 3 manufacturers may have encountered liquidity problems. The automotive sector requires large amounts of investment to stay in business. As a result, the halt in manufacturing during the pandemic and lower demand are projected to have an extraordinary impact on manufacturers and providers of electric vehicle charging stations.

EV Charging Cable Market

However, following the lockdown, there was a significant increase in EV sales, as well as a surge in demand for EV charging cables, as governments worldwide progressively encouraged people to switch to low-emission fuel vehicles. Many countries have also increased the number of EV charging stations and accompanying infrastructure in their respective states. This resulted in an increase in demand for EVs in the market.

logo Growth Drivers

  • Increasing electric vehicles usage is likely to drive the market’s growth

Electric vehicle use is increasing, and several countries around the world are investing considerably in research and development. Countries such as France, the Netherlands, India, and Canada have started a variety of initiatives to promote the widespread adoption of electric vehicles. The government provides automakers with subsidies, fixed quotas, refunds, and tax breaks. Subsidies for buying electric vehicles are also significant for consumers. These factors have increased the worldwide manufacture and distribution of electric vehicles.

  • New inventions in EV charging will fuel the market’s growth

Some of the key elements influencing the development of these vehicles include advancements in electric vehicle charging technology and large investments by manufacturers in electric vehicles. For instance, modern charging technologies like the CHAdeMO and Combined Charging System (CCS) allow for smooth functioning between the charger and the vehicle. They were created by corporations for fast-charging stations for vehicles. Tesla, for example, has over 1600 supercharger stations spread across North America. These rapid advancements in charging infrastructure are projected to boost the global EV charging cable market going forward.

logo Restraints

  • High-cost of EV charging cables may limit the market’s growth

A fast charging cable costs roughly USD 125, which is more expensive than a slow charging cable. The high value of charging cables and charging points would limit the technology's adoption. In the United Kingdom, for example, the total cost of installing slow charging stations is USD 1800, which is extremely high. Furthermore, significant developments in charging cable technology would lead to increased user acceptance of the most recent models. As a result, the initial expense of establishing the charging station will lead to a significant loss for consumers. All of these limitations may stifle the growth of the EV charging cable market.

  • Advancement of wireless EV charging may impede the market’s growth

Using wireless charging technology, an EV may be charged wirelessly from the road, whether still or in motion. The expanding need for vehicle safety, the market growth for premium-segment autos, the advancement of fully autonomous vehicles, and the rising popularity of electric vehicles are all anticipated to drive the use of wireless charging of EVs. Several manufacturers and researchers intend to use wireless connectivity in a wide range of applications. As a result, the technology is expected to enter the market quickly in the future. These factors may have an effect on the global EV charging cable market’s growth.

logo Opportunities

  • Advancements in EV charging cable technology can bring considerable growth opportunities

Companies of EV charging cables have been forced to develop sophisticated technology cables in response to the rise of high-speed charging stations. Several new EV charging cable solutions have been released by prominent EV charging cable companies to make the charging procedure easier. Phoenix Contact, for example, a global leader in EV charging cables, has created high-power charging cables that can quickly charge electric vehicles. These cables do not heat up during the charging period since they are kept cold by a water-glycol mixture that is environmentally beneficial. Advances in the charging mechanism have also resulted from technological improvements.

logo Challenges

  • The safety of numerous charging wires is a challenge

The charging infrastructure created for electric vehicles must meet global safety standards established by governing agencies. Standards compliance boosts focus on research and development. As a result, the safety of charging cables is a key barrier to the expansion of the EV charging cable market.

logoSegmentation Analysis

The global EV charging cable market is segregated on the basis of usage, dimension, charging level, form, power distribution, and region.

By usage, the market is divided into private and public. The private charging segment accounts for a sizable portion of the global market. Because of the growing number of private EVs on the road, this category is likely to influence the market during the forecast period. The public charging category is expected to rise at an exponential rate throughout the projected period, owing to an increase in the number of commercial charging stations across regions.

By dimension, the market is divided into >10m, 6m-10m, and <5m. Because of its widespread use in private charging stations, the <5m category accounts for the lion's share of the global market. Due to the growing number of public charging stations, the 6m–10m sector is also predicted to demonstrate exponential development in the market throughout the forecast period.

By charging level, the market is divided into level-1, level-2, and level-3. Because of its widespread use at private charging points, the level-1 sector accounts for the lion's share of the global market. However, due to its increasing use in fast-charging infrastructure, the level-2 category is likely to lead the market over the projection period. Because of its supercharge capability, the level-3 segment is also expected to rise rapidly in the market.

By form, the market is segmented into coiled and straight. Because of its widespread use in private and public charging stations today, the straight cable segment is likely to dominate the market. Because of its features such as elasticity and use in fast-charging, the coiled cable category is predicted to develop at the fastest rate in the market over the projection period.

By power distribution, the market is divided into direct charging and alternate charging. The alternate charging segment accounts for the lion's share of the global market. However, the direct charging segment is predicted to develop at the quickest CAGR in the market due to the increasing construction of fast-charging stations, which allow vehicles to be charged at rapid speeds.

logoReport Scope

Report Attribute

Details

Market Size in 2021

USD 0.45 Billion

Projected Market Size in 2028

USD 3.2 Billion

CAGR Growth Rate

38.5% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Coroplast, Chengdu Khons Technology Co., Ltd., Brugg Group, BESEN International Group, Dyden Corporation, Manlon Polymers, EV TEISON, TE Connectivity, Aptiv Plc., Phoenix Contact, General Cable Technologies Corporation, Eland Cables, Tesla, Inc., TE Connectivity, and Leoni AG., among others

Key Segment

By Usage, By Dimension, By Charging Level, By Form, By Power Distribution, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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logoRegional Landscape

  • Europe and Asia Pacific account for a sizable portion of the global EV charging cable market

Europe is expected to account for a significant portion of the global EV charging cable market due to an increase in demand for electric vehicles throughout the area. The massive expansion of electric car component manufacturers throughout the area is also driving the EV charging cable market. The availability of various automakers as well as top-tier suppliers in Europe, such as Phoenix Contact, and Leoni AG who have necessary facilities that conduct research and development on the EV charging cable, is anticipated to accelerate the EV charging cable market across Europe.

Following Europe, the Asia Pacific region is expected to have a substantial proportion of the global market due to a rise in electric car production throughout the region. Asia Pacific region has a strong presence of EV parts manufacturing and services sectors in India, China, and Japan, which is expected to boost the regional EV charging cable market.

logoRecent Developments

  • January 2021: The AMP+ charging inlet for EVs and hybrid passenger and commercial automobiles have been introduced by TE Connectivity Ltd. These items are used to handle alternating current (AC) up to 32 amps and direct current (DC) up to 200 amps.
  • September 2021: ABB has introduced the Terra 360, an innovative fully-featured Electric Vehicle (EV) charger. Terra 360 is a flexible charger that can power up to 4 vehicles simultaneously via dynamic power distribution. The new charger has a maximum capacity of 360 kW and can charge any EV in 15 minutes or less, making it suitable for a wide spectrum of EV users.

logoCompetitive Landscape

Some of the main competitors dominating the global EV charging cable market are Coroplast, Chengdu Khons Technology Co., Ltd., Brugg Group, BESEN International Group, Dyden Corporation, Manlon Polymers, EV TEISON, TE Connectivity, Aptiv Plc., Phoenix Contact, General Cable Technologies Corporation, Eland Cables, Tesla, Inc., TE Connectivity, and Leoni AG.

The global EV charging cable market is segmented as follows:

logoBy Usage Segment Analysis

  • Private
  • Public

logoBy Dimension Segment Analysis

  • >10m
  • 6m-10m
  • <5m

logoBy Charging Level Segment Analysis

  • Level-1
  • Level-2
  • Level-3

logoBy Form Segment Analysis

  • Coiled
  • Straight

logoBy Power Distribution Segment Analysis

  • Direct Charging
  • Alternate charging

logoBy Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Reunion
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Southeast Asia
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

 

Covid-19

EV Charging Cable Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • Coroplast
  • Chengdu Khons Technology Co. Ltd.
  • Brugg Group
  • BESEN International Group
  • Dyden Corporation
  • Manlon Polymers
  • EV TEISON
  • TE Connectivity
  • Aptiv Plc.
  • Phoenix Contact
  • General Cable Technologies Corporation
  • Eland Cables
  • Tesla Inc.
  • TE Connectivity
  • Leoni AG.

Frequently Asked Questions

The global increase in demand for electric vehicles as a result of the implementation of stringent emission standards to minimize the emission of toxic gases from automobiles is expected to drive the global EV charging cable market. Because of the increased demand for high-speed charging stations, EV charging cable manufacturers are developing sophisticated cables for high-speed charging. Also, increased government investment in developing charging infrastructure around the world is expected to stimulate the global EV charging cable market. The massive growth of electric automotive parts sectors around the world is expected to fuel the electric car charging cable market even more.
According to the Facts & Factors report, the global EV charging cable market was worth about 0.45 (USD Billion) in 2021 and is predicted to grow to around 3.2 (USD Billion) by 2028, with a compound annual growth rate (CAGR) of around 38.5%.
Europe is expected to account for a significant portion of the global EV charging cable market due to an increase in demand for electric vehicles throughout the area. The massive expansion of electric car component manufacturers throughout the area is also driving the EV charging cable market. Following Europe, Asia Pacific region is expected to have a substantial proportion of the global EV charging cable market due to a rise in electric car production throughout the region. Asia Pacific region has a strong presence of EV parts manufacturing and services sectors in India, China, and Japan, which is expected to boost the regional EV charging cable market.
Some of the main competitors dominating the global EV charging cable market are: Coroplast, Chengdu Khons Technology Co., Ltd., Brugg Group, BESEN International Group, Dyden Corporation, Manlon Polymers, EV TEISON, TE Connectivity, Aptiv Plc., Phoenix Contact, General Cable Technologies Corporation, Eland Cables, Tesla, Inc., TE Connectivity, and Leoni AG.
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