EV Charging Cables Market Scope
Electric car charging based on the electrical power at the attached source, the charging system attached to the car and the battery capacity of the vehicle. Electric vehicle Connectors supply electric vehicle charging cables include chargers, sockets, connectors, leads, and others. Some of the advantages and properties EV charging cable are can be combined with status-triggered lighting function, transporting high charging currents, active liquid cooling as protection against overheating, among others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Leoni AG (Germany), TE Connectivity Ltd (Switzerland), Besen Group (China), Aptiv Plc (Ireland), Phoenix Contact (Germany) and Coroplast (Canada) |
CAGR | 17.2% |
The global EV Charging Cable market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Research Analyst at AMA estimates that Germany Vendors will contribute to the maximum growth of Global EV Charging Cables market throughout the predicted period.
Leoni AG (Germany), TE Connectivity Ltd (Switzerland), Besen Group (China), Aptiv Plc (Ireland), Phoenix Contact (Germany) and Coroplast (Canada) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global EV Charging Cables market by Type , by Application (Electric Vehicle Charging Stations and Portable Cables for Hybrid and Electric Vehicle) and Region with country level break-up.
On the basis of geography, the market of EV Charging Cables has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2023, Italian energy giant Enel X finalized its acquisition of JuiceNet, a leading provider of EV charging solutions in North America. This move strengthens Enel X's position in the EV charging market and expands its reach in the US.
In September 2023, Aptera, a California-based EV startup, unveiled its innovative solar charging cable. This cable can harness solar energy to extend the range of Aptera's electric vehicles.
Influencing Trend:
Growing Environment Pollution Concern and Demand for Increasing Vehicle Range Per Charge
Market Growth Drivers:
An increase in EV vehicle demand will propel the EV charging cable market growth in the forecast period. For instance, according to the International Energy Agency, in 2018, China was the world's largest market with more than 1 million electric cars sold, followed by Europe and the United States. Therefore, it will enhance market growth.
Challenges:
High Initial Cost of EVs in Comparison With Ice Vehicles
Restraints:
Lack of Standardization in Charging Infrastructure and The Emergence of Hydrogen Fuel Cell Vehicles
Opportunities:
Electric Vehicle Charging Stations Powered By Renewable Sources and Declining Lithium-Ion Battery Costs
Key Target Audience
EV Charging Cable Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others