Global Electric Vehicle Charging Cables Market is Expected to Grow a CAGR of 31.1% during the Forecast Period

The latest market report published by Credence Research “Global Electric Vehicle Charging Cables Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global electric vehicle charging cables market generated revenue of around USD 256.8 million in 2020 and anticipated to grow at a CAGR of over 31.1%during the forecast period from 2021 to 2027 to reach around USD 1,807.5 million in 2027.

Browse the full report at  https://www.credenceresearch.com/report/electric-vehicle-charging-cables-market

Electric vehicle charging cables for electric vehicles support diverse charging modes in different regions – international partner for local solutions: 1-phase AC charging for household connection, DC charging for quick charging and 3-phase AC is charging for domestic connection and public charging station. Most electric vehicle drivers buy a portable charging cable that matches their vehicle’s Type 1 or Type 2 socket so they can charge on public networks. Increasing adoption of electric vehicles is expected to promote product demand.

Key Trends in Global Electric Vehicle Charging Cables Market

Growing Demand for Charging Cables in Electric Vehicles

Increasing awareness about high durability of coiled cables has resulted in growth of the target market. The growing adoption of electric vehicles (EV), the increasing demand for fast charging cables for electric vehicles, and the rapid development of electric vehicle supply equipment are expected to maintain market growth during the forecast period. Favorable government initiatives to promote the use of EVs owing to vehicle emissions are expected to support growth of the target market. Increasing investments by major players and new advancements in technologies for the development of electric vehicles has created potential opportunities for major manufacturers and suppliers of the electric vehicle charging cables.

Impact of COVID 19 on Electric Vehicle Charging Cables Market

Driven by the global pandemic, the electric vehicle charging cables material market will show significant growth. Due to the COVID-19 pandemic, some or all of them have been closed globally causing negative impact on the supply chain and product demand. According to a recent update, the industry is facing unprecedented economic losses due to the disruption of the global supply chain of the major players operating in the target market. Distributors, suppliers, and retailers all have inventory in warehouses but cannot sell them, while manufacturers have to stop production in response to global lockdown.

Global Electric Vehicle Charging Cables Market by Power Supply Insights

Alternate Charging (AC) and Direct Charging (DC) are the power supply of electric vehicle charging cables market. In 2020, alternate charging segment accounted for the largest share of global electric vehicle charging cables market.

Global Electric Vehicle Charging Cables Market by Length Insights

Below 5 meters, 6 meters to 10 meters, and above 10 meters are the length of electric vehicle charging cables market. In 2020, below 5 meters segment accounted for the largest share of global electric vehicle charging cables market.

Below 5 meters Segment to Dominate the Global Electric Vehicle Charging Cables Market

Global Electric Vehicle Charging Cables Market by Charging Level Insights

Based on charging level, the global electric vehicle charging cables market is segregated into level 1, level 2, and level 3. In 2020, level 2 segment is accounted for a significant share in 2020 of the global electric vehicle charging cables market.

Level 2 Segment to Dominate the Global Electric Vehicle Charging Cables Market

Global Electric Vehicle Charging Cables Market by Shape Insights

Straight cable and coiled cable are the shapes of electric vehicle charging cables market. In 2020, straight cable segment accounted for the largest share of global electric vehicle charging cables market.

Global Electric Vehicle Charging Cables Market by Application Insights

Based on application, the global electric vehicle charging cables market is segregated into private charging and public charging. In 2020, private charging segment is accounted for a significant share in 2020 of the global electric vehicle charging cables market.

Below 5 meters Segment to Dominate the Global Electric Vehicle Charging Cables Market

Global Electric Vehicle Charging Cables Market by Regional Insights

The Asia Pacific market is accounted for the highest revenue share and is expected to dominate the global electric vehicle charging cables market over the forecast period. This is attributed to growing demand for the charging cables in electric vehicles and the increasing collaboration among major players for market penetration North America electric vehicle charging cables market is projected to register the considerable growth rate in the global market.

Global Electric Vehicle Charging Cables Market Competitive Landscape

Most prominent players in the global electric vehicle Charging Cables Market include Dyden Corporation, TE Connectivity, Brugg Group, Coroplast, General Cable Technologies Corporation, Leoni AG, Aptiv Plc, Phoenix Contact, Chengdu Khons Technology Co., Ltd., BESEN International Group, and Others. The report covers very detailed profiles of these key players.

Market Segmentation

Global Electric Vehicle Charging Cables Market by Length, 2015 – 2027

· Below 5 meters

· 6 meters to 10 meters

· Above 10 meters

Global Electric Vehicle Charging Cables Market by Shape, 2015 – 2027

· Straight Cable

· Coiled Cable

Global Electric Vehicle Charging Cables Market by Power Supply, 2015 – 2027

· Alternate Charging (AC)

· Direct Charging (DC)

Global Electric Vehicle Charging Cables Market by Charging Level, 2015 – 2027

· Level 1

· Level 2

· Level 3

Global Electric Vehicle Charging Cables Market by Application, 2015 – 2027

· Private Charging

· Public Charging

Global Electric Vehicle Charging Cables Market by Region, 2015 – 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

Global Electric Vehicle Charging Cables Market: Key Players

· Dyden Corporation

· TE Connectivity

· Brugg Group

· Coroplast

· General Cable Technologies Corporation

· Leoni AG

· Aptiv Plc

· Phoenix Contact

· Chengdu Khons Technology Co., Ltd.

· BESEN International Group

. Others