EV Charging Cable Market 2023 Driving Factors Forecast Research 2029

EV Charging Cable market is anticipated to grow at a considerable CAGR of 19.8% during the forecast period. The adoption of EVs is increasing rapidly around the world, as more and more people are switching to EVs to reduce their carbon footprint and save money on fuel costs. This is driving the demand for EV charging cables" which means that the growing popularity of electric vehicles (EVs) is creating a greater need for EV charging cables. There are several reasons why people are switching to EVs. Some people are motivated by environmental concerns, as EVs produce zero tailpipe emissions. Others are motivated by the financial benefits of owning an EV, as EVs are cheaper to operate and maintain than gasoline-powered vehicles. As more and more people switch to EVs, there is a growing need for EV charging cables. EV charging cables are used to connect EVs to charging stations so that the batteries can be recharged. In the United States, EV sales increased by a significant pace in 2022 compared to 2021. This growth is being driven by several factors, including the rising price of gasoline, the increasing availability of EV models, and the government incentives that are available for EV purchases. The increasing demand for EV charging cables is being met by several companies, including Tesla, ABB, Schneider Electric, and Siemens. These companies are developing new and innovative EV charging cable technologies to meet the needs of EV owners and businesses.

More number in the installation of public charging stations is also deriving the market. While most of the charging demand is currently met by home charging, publicly accessible chargers are increasingly needed to provide the same level of convenience and accessibility as for refueling conventional vehicles. In dense urban areas, in particular, where access to home charging is more limited, public charging infrastructure is a key enabler for EV adoption. Publicly accessible fast chargers, especially those located along motorways, enable longer journeys and can address range anxiety, a barrier to EV adoption. Like slow chargers, public fast chargers also provide charging solutions to consumers who do not have reliable access to private charging, thereby encouraging EV adoption across wider swaths of the population.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

EV Charging Cable Market Segmentation

By Cable Length

· 2-5 meters

· 6-10 meters

· Above 10 meters

By Shape

· Straight Cable

· Coiled Cable

By Power Type

· AC Charging

· DC Charging

By Charging Level

· Level 1

· Level 2

· Level 3

By Application

· Private Charging

· Public Charging

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Regional Analysis

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

· Amphenol Corp.

· ChargePoint

· Eaton Corp., plc

· EVBox grp.

· HARTING, Inc.

· Hirschmann Automotive GmbH.

· JST Corp.

· Koch Industries, Inc.(Molex)

· MENNEKES Elektrotechnik GmbH & Co. KG

· Phoenix Contact

· TE Connectivity Ltd.

· Tritium Grp.

· Weidmüller Interface GmbH & Co. KG

· WIELAND ELECTRIC GMBH

· Yazaki group co.

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