The global EV charging cables market size was valued at USD 280 million in 2019 and is anticipated to grow at a CAGR of 35.2% during the forecast period. EV charging cables are used as a connecting source for charging the electric vehicles. The battery electric vehicles required charging after certain hours to charge the battery in vehicles and gives output as electric propulsion to the vehicles. There are various types of EV changing cables where in the small cross section are used for AC charging and bulk cable and coiled style cables are used for DC charging.        

Increase in adoption of electric vehicles across the globe, increase in demand for public and private charging infrastructure, increase in innovation and development in charging cables, government support and subsidies for the EV charging cables, and government mandates for the use of electric vehicles are factors that will propel the global EV charging cables market during the forecast period. Furthermore, increase in growth of wireless charging, low purchasing power of consumers, and high initial costs of DC charging cables are some of the major factors which hamper the growth of EV charging cables market.

The EV charging cable manufacturers are working on cooling of high power charging cables illumines charging cable in charging infrastructures, providing high charging power up to 500 KW in heavy duty electric vehicles, technological advancement in charging cables, and growing government investment for research and development. Therefore, the effect of this factor on EV charging cables market is expected to increase soon with continuously evolving technologies.

Key Factors Impacting the Growth of EV charging cables Market:

• Technological advancements
• Increasing demand for electric vehicles
• Government investment in EV charging cables research
• Technological Advancements in EV Charging Cables

The EV charging cables market segmentation is based on power supply type, application, shape, and region. The leading EV charging cable manufacturers are focusing on development of high power charging cables compatible with AC and DC charging. The EV charging cables market is currently witnessing high growth due to increased demand for bone and joint surgeries in the shortest possible time and expenses.

Power Supply Type Outlook:

As per the current market scenario, the AC charging cable segment has covered the largest EV charging cables market share and is projected to register a higher CAGR during the forecast period. The major factor which drives the growth of this segment are rising demand for low power output and growing demand for wall-mounted EV chargers which saves the costs of underground electrification, and increase in demand for residential charging stations. This expected to enhance the dominance of the AC charging cable segment in the global market over the forecast period.

Application Outlook:

Based on application, the market has been segmented into private charging and public charging. In 2019, private charging segment held the highest market share and the segment is also projected to maintain its dominance over the forecast period. This can be due to the rising demand for battery electric vehicles, growing awareness of consumer towards environment pollution, government mandates for use of electric vehicles. Growing sales of electric vehicles and increase in research and development by vehicle manufacturers, and rising demand for residential charging infrastructure is further expected to raise segment over the forecast period.

Regional Outlook:

Based on the region, the global EV charging cables market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, Asia-Pacific holds a dominant position in the global EV charging cables market. The region's dominance is attributable to increase in number of key players of charging cables, government subsidies for developing manufacturing plant of electric vehicle charging cables, increase in innovation and development in charging infrastructures, and growing sales of electric vehicles. Increase in concerns of environment pollutions and developed electric vehicle charging infrastructure in the Asia Pacific region is one of the key factors driving the consumption of EV charging cables in this region. Moreover, growing foreign direct investment, increase in supply and distribution network and expansion of manufacturing facility by major charging cable manufacturers in key countries such as China, South Korea, and Indonesia are also propelling the growth of EV charging cables in the Asia Pacific. In Europe, Stringent government regulations regarding charging infrastructure, technological advancement in charging cables, growing number of charging cable manufactures in countries, such as Germany, the UK, France, Spain, and Italy, are expected to enhance the market growth in the global EV charging cables market during the forecast. Furthermore, North America is estimated to project the fastest growth rate in the global EV charging cables market during the forecast period. This growth can be accredited to several factors, such as increase in number of electric vehicle OEMs, increase in demand for quality and high performance charging cable manufacturers. In this region, US-Canada-Mexico supply chain agreement further rise the demand for charging cables, increase in innovation and development in EV charging cables, and growing sales of electric vehicles. The growing investment by industry players through the development of new manufacturing units in the region and rising expenditure also contribute to market growth in the North America.

The report analyzes factors affecting the EV charging cables market from both demand and supply side and further analyses market dynamics affecting the market during the forecast year such as driver, restrain, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the EV charging cables market for all six regions namely; North America, Western Europe, Eastern Europe, Asia Pacific, Middle East and the Rest of the world.

Competitive Landscape

Innovative advancement in EV charging cables helps the manufacturers to enhance the sales of quality charging cables and enhance its brand name. Major companies are investing in research and development. Key market players are also adopting inorganic development strategies like as acquisition of local brands. Similarly, other business models such as joint venture and market entry strategies are helping prominent vendors to make their presence felt in the EV charging cables market and increase their product portfolio. The key leading players in the market include Aptiv Plc., Dyden Corporation, Leoni AG, BESEN International Group, TE Connectivity, Brugg Group, Sinbon Electronics, Coroplast, Phoenix Contact, EV Teison, Systems Wire and Cable, and General Cable Technologies Corporation.

This report also includes the profiles of key EV charging cables market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

What Does This Report Provide?

This report provides a detailed understanding of the global EV charging cables market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Power Supply Type

• Alternate Charging
• Direct Charging

By Application

• Private Charging
• Public Charging

By Shape

• Straight Cable
• Coiled Cables

By Region:

• North America
  • By Country (US, Canada, Mexico)
  • By Power Supply Type
  • By Application
  • By Shape
• Western Europe
  • By Country (Germany, Russia UK, France, Italy, Spain, Rest of Europe)
  • By Power Supply Type
  • By Application
  • By Shape
• Asia Pacific
  • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
  • By Type
  • By Application
  • By Shape
• Middle East & Africa
  • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
  • By Power Supply Type
  • By Application
  • By Shape
• South America
  • By Country (Brazil, Argentina, Colombia, Rest of South America)
  • By Power Supply Type
  • By Application
  • By Shape

Reasons to Buy This Report:

• Market size estimation of the EV charging cables market on a regional and global basis
• Unique research Usage for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

• By Segment
• By Sub-segment
• By Region/Country

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