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EV Connector Market worth $13.14 billion by 2030, growing at a CAGR of 26.31% - Exclusive Report by 360iResearch
EV Connector Market | 360iResearch
The Global EV Connector Market to grow from USD 2.56 billion in 2023 to USD 13.14 billion by 2030, at a CAGR of 26.31%.
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An EV connector refers to the electromechanical device that facilitates the connection between an electric vehicle (EV) and an electric power source for charging purposes. Compatible with both plug-in hybrid electric vehicles (PHEVs) and all-electric vehicles (BEVs), EV connectors are a critical component in ensuring efficient and safe energy transfer from the charging station to the vehicle's battery system. The growing ownership of electric vehicles (EVs) driven by rising environmental concerns, favorable government policies, and advancements in battery technology are primary drivers of the EV connector market. Growing consumer awareness of sustainability issues and the falling costs of EVs further incentivize adoption, thereby fuelling the demand for EV connectors necessary for efficient and safe charging infrastructure. Despite the positive growth prospects, the high installation and maintenance costs of charging stations, along with the complex and varied charging requirements of different EV models, present obstacles to market expansion. However, technological innovation leading to enhanced safety, improved efficiency, and smart features providing information related to charging status, energy consumption, and proactive alerts present new growth avenues for the market.
The EV connector market in the Americas is experiencing significant growth propelled by aggressive policies on emission reductions and incentives for EV purchases in the United States and Canada. The increasing number of electric vehicle registrations, rising awareness regarding the environmental benefits of EVs, and expanding public and private charging infrastructure development projects are elements contributing to the market's strong performance. The market in EMEA, particularly in Europe, is a major region for the EV connector market, owing to robust regulatory frameworks supporting EV adoption, high environmental consciousness, and substantial investments in charging infrastructure. The European Union's push for decarbonization through its Green Deal is expected to continue propelling the market forward. Within the Middle East and Africa, the market is growing at a diversified pace, with the Gulf countries investing in smart city projects with EV infrastructure as a core component, while the African market is still developing, with South Africa leading the regional market. The APAC region showcases rapid market growth with government incentives, rising awareness of environmental issues, advancements in battery technology, and the large-scale production of EVs. The region boasts a high potential with its vast manufacturing capabilities and considerable government support for the EV sector in China and India.
Market Segmentation & Coverage:
This research report categorizes the EV Connector Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on System Type, market is studied across Sealed Connector System and Unsealed Connector System. The Sealed Connector System is projected to witness significant market share during forecast period.
Based on Propulsion, market is studied across Battery Electric Vehicles, Fuel Cell Electric Vehicles, Hybrid Electric Vehicles, and Plug-In Hybrid Electric Vehicles. The Hybrid Electric Vehicles is projected to witness significant market share during forecast period.
Based on Connection Type, market is studied across Board-to-Board Connection, Wire-to-Board Connection, and Wire-to-Wire Connection. The Wire-to-Wire Connection is projected to witness significant market share during forecast period.
Based on Voltage, market is studied across High, Low, and Medium. The Low is projected to witness significant market share during forecast period.
Based on Application, market is studied across ADAS & Safety System, Battery Management System, Body Control & Interiors, Engine Management & Powertrain, Infotainment System, and Vehicle Lighting. The Body Control & Interiors is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 37.28% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the EV Connector Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the EV Connector Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the EV Connector Market, highlighting leading vendors and their innovative profiles. These include Amphenol Communications Solutions, Aptiv Global Operations Limited, Fujikura Ltd., Hirose Electric Co., Ltd., ITT Inc., Japan Aviation Electronics Industry, Ltd., JET Charge Pty Ltd., KINSUN Industries Inc., Koch Industries, Inc., KYOCERA Corporation, MENNEKES Elektrotechnik GmbH & Co. KG, Raydiall SAS., REMA Lipprandt GmbH & Co. KG, Renhotec EV, Rosenberger Hochfrequenztechnik GmbH & Co. KG, Shenglan Technology Co., Ltd., Sumitomo Electric Group, TE Connectivity Ltd., and Yazaki Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. EV Connector Market, by System Type
7. EV Connector Market, by Propulsion
8. EV Connector Market, by Connection Type
9. EV Connector Market, by Voltage
10. EV Connector Market, by Application
11. Americas EV Connector Market
12. Asia-Pacific EV Connector Market
13. Europe, Middle East & Africa EV Connector Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the EV Connector Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the EV Connector Market?
3. What is the competitive strategic window for opportunities in the EV Connector Market?
4. What are the technology trends and regulatory frameworks in the EV Connector Market?
5. What is the market share of the leading vendors in the EV Connector Market?
6. What modes and strategic moves are considered suitable for entering the EV Connector Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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