Global EV Charging Cable Market Share Is Set To Grow At A CAGR Of Around 38.5% By 2028

09-Mar-2022 | Facts and Factors

The global EV charging cable market was worth around USD 0.45 Billion in 2021 and is projected to reach roughly USD 3.2 Billion by the end of 2028, with an excellent 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 EV charging cable market.

EV charging cables are cables that are used in infrastructure to charge electronic vehicles. The key driver of the 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.

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Browse the full “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”  report at https://www.fnfresearch.com/ev-charging-cable-market

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. 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. These rapid advancements in charging infrastructure are projected to boost the global EV charging cable market going forward. However, the high cost of EV charging cables and the advancement of wireless EV charging may impede the market’s growth.

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. 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. 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. 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. 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.

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, 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. Also, the 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.

Report 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

Purchase Options

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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.

Recent 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.

The global EV charging cable market is segmented as follows:

By Usage, the market is segmented into:

  • Private
  • Public

By Dimension, the market is segmented into:

  • >10m
  • 6m-10m
  • <5m

By Charging Level, the market is segmented into:

  • Level-1
  • Level-2
  • Level-3

By Form, the market is segmented into:

  • Coiled
  • Straight

By Power Distribution, the market is segmented into:

  • Direct Charging
  • Alternate charging

By Region, the market is segmented into:

  • 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

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