EV Charging Cable Market Summary, Trends, Sizing Analysis and Forecast To 2031

Rise in adoption of EVs, demand for fast charging cables, and surge in government initiatives for reducing carbon footprints drive the growth of the global 𝐄𝐕 𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭. However, high operational costs of EV charging cables and rise in implementation of wireless EV charging technology restrain the market growth. On the other hand, infrastructural developments of public EV charging station and technological advancements in EV charging cable present new opportunities in the coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A08914

The global electric vehicle charging cable market was valued at $0.67 billion in 2021, and is projected to reach $3.45 billion by 2031, growing at a CAGR of 18.1% from 2022 to 2031.

Factors such as the increasing adoption of EVs have amplified the EV charging cables market. Additionally, government concerns over reducing carbon footprints are driving the market of EV charging cables. Besides, the demand for fast charging cables would proliferate the market growth. However, high operational costs of EV charging cables and adoption of wireless EV charging technology would hamper the market growth. Further, rocketing infrastructural developments of public EV charging station and advancements in EV charging cable technology will propel electric vehicle charging cable market growth.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Brugg Group, Guangdong OMG Transmitting Technology Co., Ltd., Leoni AG, EV Cables UK, TE Connectivity Ltd., Aptiv Plc, Manlon Polymers, Coroplast Fritz Müller GmbH & Co. KG, Dyden Corporation, Besen International Group, Prysmian S.p.A., Chengdu Khons Technology Co., Ltd., Phoenix Contact, Sinbon Electronics, AG Electrical Technology Co

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/1dfcdf9ddfba358a436447d49d3dbdaf

In addition, the electric vehicle charging cable market has witnessed significant growth in recent years, with the rising number of government initiatives and prominence on encouraging the adoption of EVs. For instance, in April 2020, China government introduced a 10% service tax waiver for EVs to boost the demand in the market. Thus, the growing potential of the global EV supply equipment industry and the high number of EV charging stations in the region is projected to encourage significant market players to manufacture EV charging infrastructure in domestic markets, which considerably fuels EV charging cable market.

Electric vehicles (EVs) are installed with rechargeable battery packs, which can be charged through public or private station outlets. Thus, to charge the electric vehicles, EV charging cables are used in infrastructure (charging station) to charge them. These cables have two ends, one of which is attached to a connector & plugged into the electric vehicle, and the other into the charging point. The charging cable for electric vehicles supports a variety of charging modes in different regions. Presently, the leading EV charging cables manufacturers are investing significantly in EV charging infrastructure along with research & development for faster and efficient charging methods.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific contributed the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global electric vehicle charging cable market, and is expected to maintain its dominance in terms of revenue by 2031. Moreover, this region is projected to portray the fastest CAGR of 19.1% during the forecast period. This is due to increased production and sales of EVs and related components across the globe. The research also analyzes regions including North America, Europe, and LAMEA.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A08914

Asia-Pacific dominates the market, in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global EV charging cable market share in 2021 and is expected to grow at a significant rate during the forecast period, owing to series of initiatives taken by private companies, local governments, and federal officials to promote the adoption of electric vehicle.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By power type, AC charging segment dominated the global EV Charging Cable market in 2021, in terms of growth rate.

On the basis of application, the public charging segment is anticipated to exhibit a remarkable growth during the forecast period.

On the cable length, the 2 meter to 5 meter segment is the highest contributor to the EV Charging Cable market in terms of growth rate.

By shape, the coiled segment is anticipated to exhibit a remarkable growth during the forecast period.

On the basis of charging level, the level 2 segment is anticipated to exhibit a remarkable growth during the forecast period.

By region, the Asia-Pacific holds majority of market share during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Electric Vehicle Market - https://www.globenewswire.com/en/news-release/2023/10/23/2764378/0/en/Electric-Vehicle-Market-EV-Industry-Is-Set-to-Reach-an-Estimate-of-823-75-Billion-by-2030-at-a-Compound-Annual-Growth-Rate-CAGR-Of-18-2-Allied-Market-Research.html

Electric Vehicle Motor Market - https://www.globenewswire.com/en/news-release/2022/11/21/2560019/0/en/Electric-Vehicle-Motor-Market-Size-to-Reach-34-4-Billion-by-2031-Allied-Market-Research.html

Electric Scooter and Motorcycle Market - https://www.globenewswire.com/en/news-release/2022/09/05/2509720/0/en/Electric-Scooter-and-Motorcycle-Market-To-Portray-93-9-Billion-by-2031-Allied-Market-Research.html

E-SUV Market - https://www.globenewswire.com/en/news-release/2021/09/09/2293989/0/en/E-SUV-Market-to-Garner-252-72-Billion-by-2030-Allied-Market-Research.html

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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