According to Facts and Factors, the Global EV Charging Cable Market size was valued at around USD 0.45 billion in 2021 and is estimated to grow about USD 3.2 billion by 2028, at a CAGR of approximately 38.5% between 2022 and 2028. The leading players in the report with their sales, revenues and strategies are 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.
NEW YORK, United States, Oct. 03, 2022 (GLOBE NEWSWIRE) -- According to 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 in terms of revenue was valued at USD 0.45 billion in 2021 and it is expected to surpass around USD 3.2 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 38.5% during the forecast period 2022 to 2028.”
EV Charging Cable 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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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.
High-cost of EV charging cables may limit the market’s growth
The high cost of EV charging cables and the advancement of wireless EV charging may impede the market’s growth.
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EV Charging Cable Market: COVID-19 Impact Analysis
The global manufacturing and distribution of automobiles had ceased due to the disruption of the whole supply chain caused by the initial breakout of COVID-19. Manufacturers had to pause production until lockdowns were eased before they could resume manufacturing, which had an impact on their businesses. As a result, automakers are expected to modify their manufacturing volumes. In addition, component manufacturing was halted, and tiny Tier 2 and Tier 3 manufacturers may have encountered liquidity problems. The automotive sector requires large amounts of investment to stay in business. As a result, the halt in manufacturing during the pandemic and lower demand are projected to have an extraordinary 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.
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.
The global EV Charging Cable market is segmented as follows:
By Usage, the market is segmented into:
By Dimension, the market is segmented into:
By Charging Level, the market is segmented into:
By Form, the market is segmented into:
By Power Distribution, the market is segmented into:
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
Some of the main competitors dominating the global EV Charging Cable market include -
Chengdu Khons Technology Co. Ltd.
BESEN International Group
General Cable Technologies Corporation
Key Insights from Primary Research:
According to the analysis shared by our research forecaster, the EV Charging Cablemarket is likely to expand at a CAGR of around 38.5% during the forecast period (2022-2028).
In terms of revenue, the EV Charging Cable market size was valued at around US$ 0.45 Billion in 2021 and is projected to reach US$ 3.2 Billion by 2028.
By usage, the private charging sector holds a share of the international market.
Based on the dimension, the <5m category controls the largest share of the international market because of its rising prevalence in private charging stations.
In terms of form, the straight cable segment is expected to be the most lucrative because it is already widely used in both home and public charging stations.
As the number of EVs on the road rises, Europe is poised to become a major player in the worldwide EV charging cable industry.
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Market Size & Forecast by Revenue | 2022−2028
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Usage, Dimension, Charging Level, Form, Power Distribution, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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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.
Rest of North America
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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.
Market Size in 2021
USD 0.45 Billion
Projected Market Size in 2028
USD 3.2 Billion
CAGR Growth Rate
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
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
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