Publishing: October 2021 | Report Code: SE12180 | Available Format: PDF
The global electric vehicle charging cables market generated around $250 million revenue in 2020, and it is expected to grow significantly during the forecast period (2021–2030). The key factors responsible for the growth of the market are the increasing adoption of EVs, rising concerns regarding air pollution, and development of the public EV charging infrastructure.
The COVID-19 pandemic, particularly due to the imposition of multiple lockdowns, has had a negative impact on the global market for electric vehicle charging cables. COVID-19 had a significant impact on the supply chain and product demand in the automotive sector. Various automotive corporations have stopped production because of the various restrictions imposed by governments. Owing to this, the global EV industry is facing a slowdown, in turn, decreasing the demand for charging cables.
EVs can be charged via the AC and direct current (DC) power supply, of which AC cables dominated the market in 2020. This can be attributed to the increasing installation of the charging infrastructure in private settings.
The market is categorized into straight and coiled, based on cable shape. The straight category was the higher revenue generator in 2020, and it is expected to dominate the industry during the forecast period. Lower cost, low maintenance, and ease of installation are the key factors driving the adoption of straight cables.
Geographically, APAC dominated the market in 2020, with China being the major revenue contributor. Further, Japan and South Korea would act as the future epicenters of the industry growth in the region. The government in these countries is offering regulatory and financial support to the manufacturers and buyers of EVs, which is assisting in EV charging station development.
Further, the region is expected to lead the market, in terms of growth rate, during the forecast period. The various projects introduced by the regional governments to increase the number of public charging stations will propel the growth of the electric vehicle charging cables market here.
The installation of EV charging stations across the globe is expected to drive the adoption of EVs. Governments are focusing on the development of EV charging stations to promote the use of EVs. Due to the heavy investments being made by governments, charging stations are being installed in public places. According to the International Energy Agency (IEA), the number of EV charging points across the world grew by around 44% between 2017 and 2018. The rapid development of the charging infrastructure is expected to propel the growth of the market for electric vehicle charging cables.
Some of the major players in the market are Leoni AG, Coroplast Group, Chengdu Khons Technology Co. Ltd., PHOENIX CONTACT GmbH & Co. KG., Aptiv plc, BESEN-Group, General Cable Technologies Corporation, Dyden Corporation, and TE Connectivity Ltd. In recent years, the players have been involved in partnerships, collaborations, and other developments in order to attain a significant position in the market. For instance:
|Base Year (2020) Market Size||~$250 Million|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling;|
|Market Size by Segments||Power Supply; Application; Charging Level; Shape; Cable Length; Region|
|Market Size of Geographies||U.S.; Canada; Germany; France; U.K.; Sweden, Norway; China; Japan; South Korea; Mexico|
|Secondary Sources and References (Partial List)||International Electro Technical Commission (ICE); Society of Automotive Engineers (SAE); National Association of Regulatory Utility Commissioners; Institute of Electrical and Electronics Engineers (IEEE).|
The electric vehicle charging cables market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Power Supply
Based on Charging Level
Based on Application
Based on Shape
Based on Cable Length
The market for EV charging cables valued around $250 million in 2020.
The dominance of the AC category on the power supply segment of the EV charging cable industry is because most of the charging stations are installed at homes, which receive AC power supply.
APAC presently generates the highest revenue in the market for EV charging cables.
The EV charging cable industry is being driven by the rising sales of EVs and rapid installation of charging stations.
Players in the market for EV charging cables are launching new products.
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