Electric Vehicle Charging Cables Market Size, CAGR, Trends, Company Analysis, Regional Scope and Forecast 2021 – 2030

Share This Article

The global Electric Vehicle Charging Cables market size is expected to be worth around US$ 1.40 billion by 2030, according to a new report by Vision Research Reports.

The global Electric Vehicle Charging Cables market size was valued at US$ 210 million in 2020 and is anticipated to grow at a CAGR of 25.5% during forecast period 2021 to 2030.

Get the sample pages of report@

What are the Market Growth Factors?

Growing adoption of electric vehicles (EV), rising demand for electric vehicle fast-charging cables, and rapid development of electric vehicle supply equipment are anticipated to upkeep the market growth over the forecast period. For instance, in 2018, electric car fleet size exceeded over 5.1 million across the globe, up by 2 million from the previous year.

Increasing large-scale adoption of  (EV), growing demand for fast charging cables, and rapid development of  across the world are expected to drive the market. Emerging changes related to autonomous, shared, and connected mobility could considerably reshape road transport in the forthcoming years, with important implications for vehicle electrification. Therefore, many policy developments in 2018 and 2019 support the uptake of electric vehicles and growth of charging infrastructure. Furthermore, this will help market players create strategies to make the most of future growth opportunities.

In this study, the years considered to estimate the market size of Electric Vehicle Charging Cables are as follows:

  • Historic Year: 2019-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Power Supply Insights

By power supply, the market is segmented into Alternate Charging (AC) and Direct Charging (DC). The AC segment dominated the market in 2019 with a share of 73.3%. Alternate charging supplies a 120 V with charging speed of 22 kW depending on vehicle and charging infrastructure standards. AC power supply is mostly used in semi-commercial and residential stations across the world. This type of power supply charging station has a low installation costs and offers a low power output. Moreover, wall-mounted electric vehicle chargers are preferred over floor-mounted chargers as they help to save the cost of underground electrification. Additionally, wall-mounted chargers are best suited for residential stations.

The DC segment is anticipated to exhibit the highest CAGR of 28.0% from 2020 to 2027 owing to several advancements in public stations. DC fast chargers transfer the energy speedily and thus allow wide flexibility in using electric vehicles. Moreover, increasing demand for faster in less time is anticipated to fuel the segment growth over the forecast period.

Cable Length Insights

By cable length, the market is segmented into below 5 meters, 6 meters to 10 meters, and above 10 meters cable. The below 5 meters cable length segment dominated the market in 2019 with over 53.0% share and is projected to maintain its lead over the forecast period. This is majorly due to growing adoption of private electric vehicle charging stations across the world. In addition, below 5 meters cables are more efficient for use in residential applications and offer ease of storage and ease of use.

Moreover, choosing the right electric vehicle charging cable length according to consumer demand and convenience to charge vehicles is crucial to service providers. The 6 meters to 10 meters cable length segment is poised to expand at the highest CAGR of 27.7% from 2020 to 2027. This is because the cable length of at least 18 to 20 feet is perfect for charging stations to cater to increasing consumer demand and augmented penetration of electric vehicles.

Buy this premium research report (US$ 3500), click here@ or call: +1 9197 992 333

Charging Level Insights

Based on charging level, the market has been segmented into level 1, level 2, and level 3. The level 2 segment dominated the market in 2019 with 47.8% share as they are being used progressively in the residential and semi-commercial applications, such as individual homes, apartments, condominiums, hotels, parking lots, and retail facilities.

The level 3 segment category is anticipated to exhibit the highest CAGR of 27.5% from 2020 to 2027. A Level 3 system is equipped with CHAdeMO technology, which charges through a 480V. A level 3 charger can charge a fully drained electric vehicle battery up to 80% in less than 15 minutes. High-power charging capability that to in less than 30 minutes is the major factor amplifying the segment growth. In addition, increasing demand for fast charging systems in countries, such as Japan, South Korea, and China, is anticipated to aid in swift advancements of high-power electric vehicle charging infrastructure, which, in turn, is anticipated to drive the segment over the forecast period.

Shape Insights

Based on cable shape, the market has been segmented into straight and coiled cable. The straight cable dominated the market in 2019 with over 62.0% share and is projected to maintain its lead over the forecast period. Most of the public charging stations have adopted these cables due to their low maintenance requirement, reduced costs, and ease of installations.

The coiled cable segment is poised to expand at the highest CAGR of 27.3% from 2020 to 2027. They are also called spiral cables and are easy to maintain as they do not spread over the surface, hence helping to prevent a tripping hazard. Therefore, these cables need lesser storage space and are more long-lasting than straight cables. Additionally, developments are estimated to reduce the price of coiled cables, thereby boosting the segment growth over the forecast period.

Application Insights

By application, the market is segmented into private charging and public charging applications. The private charging segment dominated the market in 2019 with over 71.0% share of the overall revenue and is projected to maintain its lead over the forecast period. This growth is attributed to the wide usage of these electric vehicles charging stations for private charging.

Public charging stations are poised to expand at the highest CAGR of 27.0% from 2020 to 2027. These stations are installed at shopping malls, airports, hotels, parking lots of commercial properties, government offices, taxi stands, and highways. These charging stations have the capability to charge an electric vehicle in less time with high voltage. Proliferation in the adoption of EVs and growing demand among EV owners to reduce the charging time of EV would proliferate the demand for public charging stations over the forecast period.

Regional Insights

Asia Pacific dominated the market in 2019 and held a 58.9% share of the overall revenue. The growth in this region is mainly driven by China, South Korea, and Japan. China is the largest electric vehicle charging cable market. The Japanese and Chinese governments have expected the growth potential of the global EV supply equipment market and thus have adopted various policies and initiatives to encourage major market players to manufacture EV charging infrastructure in domestic markets. High number of EV charging stations in the region is projected to uplift the regional market growth over the forecast period.

However, South Korea and China are severely impacted by the COVID-19 epidemic, which further adds an unusual dimension for carmakers. As EV batteries are primarily sourced from Chinese and South Korean suppliers, including LG Chem, CATL, and Samsung HDI, their supply could be constrained, and obtaining them from alternative sources is highly challenging. This is certainly an acute concern for manufacturers in Europe as they thrive to attain their respective emissions targets. In a protracted scenario, lower government subsidies, falling oil prices, and economic impact of the pandemic may reduce EV demand, which would further impact the demand for EV charging cables.

North America is anticipated to exhibit the highest CAGR of 29.6% from 2020 to 2027, followed by Europe and Asia Pacific. This is attributed to increased focus of most of the manufacturers on developing high-performance, cleaner, and faster electric vehicles. Growing installation of advanced charging infrastructure and presence of major EV supply equipment manufacturers in the region are likely to drive the regional market.

Key Players

  • Leoni AG
  • Coroplast
  • Chengdu Khons Technology Co., Ltd.
  • Phoenix Contact
  • Aptiv
  • BESEN-Group
  • General Cable Technologies Corporation
  • Dyden Corporation
  • TE Connectivity

Market Segmentation

EV Charging Cables Power Supply Outlook

  • Alternate Charging (AC)
  • Direct Charging (DC)

EV Charging Cables Length Outlook 

  • Below 5 meters
  • 6 meters to 10 meters
  • Above 10 meters

EV Charging Cables Charging Level Outlook

  • Level 1
  • Level 2
  • Level 3

EV Charging Cables Shape Outlook 

  • Straight Cable
  • Coiled Cable

EV Charging Cables Application Outlook

  • Private Charging
  • Public Charging

EV Charging Cables Regional Outlook 

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Netherlands
    • Norway
  • Asia Pacific
    • China
    • Japan
    • South Korea

The Electric Vehicle Charging Cables market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Electric Vehicle Charging Cables market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Electric Vehicle Charging Cables market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Electric Vehicle Charging Cables market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Electric Vehicle Charging Cables market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Electric Vehicle Charging Cables capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Electric Vehicle Charging Cables by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Electric Vehicle Charging Cables market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Electric Vehicle Charging Cables market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Electric Vehicle Charging Cables market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Electric Vehicle Charging Cables industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Electric Vehicle Charging Cables market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Electric Vehicle Charging Cables market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Electric Vehicle Charging Cables market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Electric Vehicle Charging Cables market. These factors have benefited the growth of the global market for Electric Vehicle Charging Cables. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Electric Vehicle Charging Cables. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Buy this premium research report (US$ 3500), click here@ or call: +1 9197 992 333

Show More

Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

Related Articles

Back to top button