EV (Electric Vehicle) Charging Adapter - Market Scope
The EV Charging Adapter works as an EV coupler with the station's charging pole to transmit power. The connections aid in the connection of an electric vehicle's battery to the station's charging point. The EV Adapters are built to electrical criteria in order to synchronise with the features of the battery in an electric vehicle. The major goal is to save non-renewable energy sources by employing energy conservation strategies, which safeguard the environment from pollution caused by gasoline automobiles because electric vehicles release no hazardous pollutants. This advancement in the automobile business is a revolution; these electric vehicles are both environmentally benign and cost-effective.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Tesla (United States), ABB (Switzerland), Siemens AG (Germany), Robert Bosch (Germany), Schneider Electric (France), Aptiv (Ireland), SIGNET EV (South Korea), Sumitomo Corporation (Japan), Yazaki (Japan), Pod Point (United Kingdom) and Leviton (United States) |
CAGR | % |
The demand for EV (Electric Vehicle) Charging Adapter is increasing. The industry is segmented, but it is predicted to grow as rise fuel prices and increasing demand for electric vehicles, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global EV (Electric Vehicle) Charging Adapter - market throughout the predicted period.
Tesla (United States), ABB (Switzerland), Siemens AG (Germany), Robert Bosch (Germany), Schneider Electric (France), Aptiv (Ireland), SIGNET EV (South Korea), Sumitomo Corporation (Japan), Yazaki (Japan), Pod Point (United Kingdom) and Leviton (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Webasto EV Solutions (United States) and Lectron Inc (United States).
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 (Electric Vehicle) Charging Adapter - market by Type and Region with country level break-up.
On the basis of geography, the market of EV (Electric Vehicle) Charging Adapter - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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 October 2023, Siemens partners with Porsche to jointly develop and market next-generation charging adapters with advanced features like bi-directional charging and dynamic load balancing.
In November 2021 Tesla released a new at-home wall charger that is compatible with all electric vehicles (EVs) in North America. The charger, which includes a J1772 connector. The charger is suitable for both outdoor and indoor installation and has a charging capacity of up to 9.6 kW. Owners of Tesla vehicles can use the device with an adapter.
Influencing Trend:
Advent of Smart EV Charging and Rapid Development of Vehicle-to-Grid Charging Mechanism
Market Growth Drivers:
Emergence of Electric Vehicles and Increasing Number of Charging Station
Challenges:
Compatibility of Connector Types, and Safety Standards Differ in Different Countries and Increased Charging Time
Restraints:
High Cost of EV Charging Adapter and Advent of EV Wireless Charging
Opportunities:
Increasing Fuel Prices and Pollution and Rising Prevalence of Smart City
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners and End-use industries