EV Charging Connector Market - Growth, Trends, Insights, Key Players

EV Charging Connector Market is projected to grow at a CAGR of 18.44% to reach $98 million by 2025,

The major factors behind the growth of the EV charging connectors market are an increase in sales of EVs and demand for EV charging points, which, in turn, are driving the EV connectors market. EV connectors act as an EV coupler with the charging pole of the station required for power transmission. The connectors help establish the connection of the battery of an EV with the charging point of the station. The different EV connectors offer charging capabilities at varying currents and power, thereby improving efficiency.

The major EV Charging Connector Market players include Yazaki (Japan), TE Connectivity (Switzerland), Sumitomo (Japan), Schneider Electric (France), HUBER+SUHNER (Switzerland), Tesla (US), Bosch (Germany), ITT (US), Amphenol (US), Siemens AG (Germany), ABB (Switzerland), and Fujikura (Japan).

Market Dynamics:-

Drivers:

1. High Emphasis of Governments on Encouraging the Adoption of EVs
2. Increasing Focus of Automakers on EVs as the Prime Segment
3. Increase in Demand for Fast Charging EV Connectors

Restraints:

1. Lack of Standardization for EV Connectors Across the Globe

Opportunities:

1. Use of Vehicle-To-Grid (V2G) EV Charging Stations for EVs
2. Collaboration of Governments With Private Companies

Challenges:

1. Stringent Regulations and Mandates By Government Authorities for Charging Stations

Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=65630242

By Type Segment: Increased demand for fast EV charging points is expected to drive the EV Charging Connector Market

The GB/T is the largest of all types of charging points followed by type 1 normal charging points of the EV Charging Connector Market and is expected to witness significant growth during the forecast period. The market growth of EV connectors can be attributed to factors such as a shift in demand from AC charging points to DC fast charging points, which would charge EV vehicles rapidly. The 'by type' segment is the most promising market for EV connectors as it has huge demand and is expected to drive the future EV charging connector market too.

By Level Type Segment: Level 3 is expected to dominate the EV Charging Connector Market

The charging level depends on the power output of the charging station and the corresponding time required to charge the EV. DC Level 3 requires significant infrastructure and service upgrades and consequently is the most expensive to install as compared to the other two levels. Level 3 EV connectors are predominantly used in the global EV Charging Connector Market. This type of charger has the ability to charge the vehicle from fully drained to 80% in less than 10 minutes. The level 3 EV connectors are appropriate for fast charging and fall in the range from 200 V to 600 V with a typical 45 kW off-board charger. With the rise in demand from AC charging to DC charging, the market for Level 3 EV connectors would rise.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65630242

Asia Pacific: China is expected to lead the Asia Pacific region

The Asia Pacific region is estimated to be the largest EV Charging Connector Market in 2018. The region comprises some of the fastest developing economies of the world such as China and India. The Asia Pacific region is the largest market for EVs because of government support in the form of grants, subsidies, and tax rebates and the continuous improvement of charging infrastructure in countries such as Japan and China. Thus, the EV charging infrastructure would rise and drive the market for EV connectors. Continuously improving charging infrastructure and increasing vehicle range are the major factors that have contributed to the Asia Pacific being the fastest-growing market. Additionally, the alarming pollution levels in economies such as Japan and China have fueled the demand for zero-emission vehicles, thereby creating a huge demand for EVs and EV charging points in these countries.

Critical Questions:

1. Where will the EV sales take the EV Charging Connector Market in the long term?
2. Will the market cope with the challenge of high installation costs of EV charging points?
3. How do you see the impact of the upcoming fast-charging EV connectors on the existing EV charging infrastructure?
4. Which type will lead the EV Charging Connector Market (Type1 to Type 3)?
5. What are the industry trends of the EV Charging Connector Market?

View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/ev-connectors-market-65630242.html

Contact:
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.