About Electric Vehicle Connector
The electric vehicle charging connector provides electric power for recharging. This power is transfer from charging base to electric vehicle. The design and types of connector is vary as per electric vehicle and charging speed and energy requirements. The design of EV connectors is differenced on the basis of slow, fast and rapid charging. The increasing demand for electric vehicles is mainly due to its less contribution for environmental pollution. Further governments are majorly focusing on the adopting EV in daily routine. Increasing stringent regulation on transportation pollution is mainly responsible for adaptation of electronic vehicles. Hence, rising demand for EV is impacting on the demand for EV charging connector positively. The government bodies provides investments and financial support through subsidies and tax credits which is impacting on the entry of market players. Moreover, certain cost savings features such as low cost maintenance, convenience in operation i.e. wall mounted charging connector are impacting on the demand for EV and eventually on charging connector. Geographically, the Asia Pacific region is expected to grow with high growth rate over forecast period. Rapidly developing economies like China, India and Indonesia are likely to focus on R&D activities fir Electronic vehicles. Further, governments have huge emphasis on the EV adoption and they are providing grants, subsidies and tax rebates to develop charging infrastructure. For instance, in China, the number of charging stations is continue to rise. In November 2019, there were 289,000 AC public charging stations in China and they are continue to rise and China government was looking to add around 600,000 more. Thus, owing to this initiatives taken by governments, the demand for EV charging connector is anticipated to grow over forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 19.0% |
There are various companies are operating in the market to provides EV Charging Connector. Increased demand for electronic vehicle in market is impacting on the demand for EV Charging Connector positive manner. Hence to grab the opportunity associated with the market, many new market players are entering to the market. The market leaders are investing on organic and non-organic strategic growth initiatives to become dominant in this industry. Analyst at AMA Research estimates that Europe Players will contribute the maximum growth to Global Electric Vehicle Connector market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tesla (United States), Yazaki (Japan), Sumitomo (Japan), TE Connectivity (Switzerland), Schneider Electric (France), Bosch (Germany), HUBER+SUHNER (Switzerland), ITT (United States), ABB (Switzerland), Siemens AG (Germany) and Continental AG(Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ChargePoint Inc. (United States) and DYDEN CORPORATION (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Electric Vehicle Connector market by Type (Type1, Type 2 and Others (CCS, Chademo, GB/T, Tesla)) and Region.
On the basis of geography, the market of Electric Vehicle Connector 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). If we see Market by EV Charging Station, the sub-segment i.e. Floor mounted will boost the Electric Vehicle Connector market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Cable Type, the sub-segment i.e. Coiled cable will boost the Electric Vehicle Connector market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Residential will boost the Electric Vehicle Connector market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage, the sub-segment i.e. AC will boost the Electric Vehicle Connector market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Plug-in EV will boost the Electric Vehicle Connector market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Innovations and Adoption to Increase Level & Current Supply Range of EV Charging Connector in Quicker Manner
Market Growth Drivers:
Increasing Focus of Governments for Encouraging the Adoption of EVs, Growing Popularity of Hybrid and Electric Vehicles and Mounting Association of Governments with Private Companies to Develop Use of Vehicle-To-Grid (V2G) EV Charging Stations
Challenges:
Stringent Regulations by Government Authorities for Charging Stations May Challenge For EV Connectors Market
Restraints:
Preference of Wireless Charging Which Transfers Power Via Inductive Coupling May Restrain the Growth of the Market
Opportunities:
Ongoing R&D Activities in Automobile Industry, Increased Emphasis of Automobile Manufacturers EVs as the Prime Segment Which Is Responsible To Rising Demand of Fast Charging EV Connectors and Growing Reinforcement from Governments and Other Regulatory Bodies for Automobile Industry Primarily For EV Developments
Market Leaders and their expansionary development strategies
On October 26, 2023, Aptiv & Nexans Partner to Develop High-Voltage Charging Solutions for Electric Vehicles. This partnership aims to create a new generation of high-voltage charging solutions for electric vehicles, combining Aptiv's expertise in vehicle connectivity and Nexans' experience in cable and connector technology.
On December 12, 2023, TE Connectivity Unveils New High-Power Charging Connector for Electric Vehicles. TE Connectivity introduced a new high-power charging connector capable of delivering up to 500 kW of power. This connector is designed for ultra-fast charging applications.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, EV Charging Connector Manufacturers, Suppliers and Distributors, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.