EV Charging Cables Market Scenario & Prominent Key Players Analysis 2022 to 2028

The EV Charging Cables Market is expected to grow from US$ 513.36 million in 2022 to US$ 3,551.78 million by 2028. It is estimated to grow at a CAGR of 38.0% from 2022 to 2028.

The Rest of the World EV charging cables market analysis covers Asia Pacific, the Middle East & Africa (MEA), and South America. The Asia Pacific region is a major contributor to automobile manufacturing, with extensive manufacturing facilities located in China, India, and Japan, a large consumer base, and key automotive players operating in the region. This has led to the growth of the EV charging cables market in the region, driven by the increasing production capacity of EVs and advancements in technology. China, in particular, has the largest EV market in the Asia Pacific region, with a high number of publicly owned charging stations. The country built 87,000 new public EV charging stations in May 2022 alone, resulting in a 60.5% increase compared to the previous year, according to a report by the China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA).

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Analysis of the Top Market Players:

1. Besen International Group Co., Ltd.
2. Coroplast Group
3. Dyden Corporation
4. General Cable Technologies Corporation
5. Phoenix Contact E-Mobility
6. Sinbon Electronics Co., Ltd.
7. Systems Wire and Cable
8. TE Connectivity
9. Teison Energy Technology Co., Ltd.
10. Aptiv

In this report, the market has been segmented on the basis of:

Application (Public and Private)
Power Type (AC Charging and DC Charging)
Cable Length (2-5 Meters, 6-10 Meters, and >10 Meters)
Charging Level (Level 1, Level 2, and Level 3)
Jacket Material [All-Rubber, Thermoplastic Elastomer (TPE), and Polyvinyl Chloride (PVC)]
Shape (Straight and Coiled)
Charging Cable Type (Standard and Portable)
IEC Mode (Mode 1 and 2, Mode 3, and Mode 4)

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Asia Pacific is experiencing a significant increase in demand for electric vehicles (EVs) from countries such as China, South Korea, Japan, India, and Singapore. This surge in EV sales has had a notable impact on the EV charging cables market, prompting manufacturers to focus on developing energy-efficient technologies that reduce CO2 emissions and increase fuel efficiency. The region's focus on reducing dependency on traditional petrol and diesel fuel sources, along with government incentives promoting the use of EVs, has further fueled the growth of EV manufacturing and sales. Market research by the International Energy Agency IEA suggests that EV sales in Asia rose by around 75% in 2021, with total annual sales projected to reach approximately 10.9 million units by 2030, up from a predicted 1.4 million units in 2029. According to the IEA's Global EV Outlook 2021, China currently has the largest fleet of 4.5 million electric cars, and India is expected to witness around 48,000 additional EV charging points over the next few years with an investment of approximately US$150 million (~INR 14,000 crore). As EV penetration grows in the two-wheeler, three-wheeler, and bus segments, charging infrastructure is expected to expand further in Asia Pacific. By FY2025, electric two-wheelers are expected to account for 13-15% of total new vehicle sales, while electric three-wheelers and e-buses are projected to account for more than 30% and 8-10%, respectively. Although India currently has less than 2,000 public charging stations, developments in economically developed regions are contributing to the growth of the EV charging cables market.

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