NEW YORK, US, May 10, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “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” in its research database.
“According to the latest research study, the demand of global EV Charging Cable Market size & share was valued at 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 2022 to 2028.”
What is EV (Electric Vehicle) Charging Cable? How big is the EV Charging Cable Industry?
Market Overview:
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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(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
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 | Request customized purchase options to meet your research needs. Explore purchase options |
Global EV Charging Cable Market: Dynamics
- 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.
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.
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
EV Charging Cable Market: COVID-19 Impact Analysis
In response to the widespread disruption of the entire supply chain caused by COVID-19's initial breakout, the world's automotive manufacture and distribution had been brought to a grinding halt. Manufacturers were forced to halt production until the lockdowns were lifted before they could resume production, which had a negative impact on their bottom line. As a result, automakers are anticipated to reduce the number of vehicles they manufacture.
Additionally, component manufacturing was suspended, and small Tier 2 and Tier 3 manufacturers may have experienced liquidity issues as a result of the shutdown. To remain in business, the automotive industry requires significant amounts of capital expenditure. Therefore, it is expected that the pause in manufacturing during the pandemic, as well as lower demand, will have an enormous impact on manufacturers and providers of electric vehicle charging stations.
EV Charging Cable Market: Segmentation Analysis
The global EV charging cable market is segregated on the basis of usage, dimension, charging level, form, power distribution, and region.
- The private charging segment is likely dominates the global market
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.
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Competitive Landscape
Some of the main competitors dominating the global EV charging cable market include -
- 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
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the EV Charging Cable market is estimated to register a CAGR of 38.5% in terms of value during forecast period.
- Global Demand for EV Charging Cable Market in terms of revenue was worth of US$ 0.45 Billion in 2020 and is likely to reach US$ 3.2 Billion in 2027.
- By usage, the private charging segment accounts for a sizable portion of the global market.
- By form, the straight cable segment is estimated to be the largest in the near future, owing to its widespread use in both private and public charging stations today.
- By power distribution, the alternate charging segment holds a commanding position in terms of global market share.
- On the basis of region, the Europe and Asia Pacific account for a sizable portion of the global EV charging cable market.
Key questions answered in this report:
- What is the market size and growth rate forecast for EV Charging Cable industry?
- What are the main driving factors propelling the EV Charging Cable Market forward?
- What are the leading companies in the EV Charging Cable Industry?
- What segments does the EV Charging Cable Market cover?
- How can I receive a free copy of the EV Charging Cable Market sample report and company profiles?
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Regional Dominance:
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.
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.
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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
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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