New York, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “EV Charging Cables Market Forecast to 2028 - COVID-19 Impact and Global Analysis By 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), and IEC Mode (Mode 1 and 2, Mode 3, and Mode 4)” The EV charging cables market growth is driven by surge in EV vehicle production & increase in EV charging facilities.
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| Market Size Value in | US$ 513.36 Million in 2022 |
| Market Size Value by | US$ 3.55 Billion by 2028 |
| Growth rate | CAGR of 38.0% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 175 |
| No. Tables | 111 |
| No. of Charts & Figures | 87 |
| Historical data available | Yes |
| Segments covered | Application, Power Type, Cable Length, Charging Level, Jacket Material, Shape, Charging Cable Type, and IEC Mode |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
In the era of continuous technological developments, the scope of EV charging stations is also getting transformed impacting the EV charging cables market share. many charging station OEMs are taking steps to overcome the challenges of electric vehicles charging at long routes. for instance, Tesla is developing a mega charger network at trucking rest stops throughout the US and Europe for Tesla semis. The company is making efforts to build a separate charging network for the class-8 electric semi-truck of Tesla. The new charger network will be constructed at specific pre-identified stops that long-haul drivers utilize as their resting points. The company is working on its first-ever mega charger installed at the Frito-Lay delivery centre in Modesto, California. Developments by major players are driving the EV charging cables market growth.
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EV Charging Cables Market: Competitive Landscape and Key Developments
Coroplast Group; Sinbon Electronics Co., Ltd.; TE Connectivity; Phoneix Contact; Besen International Group Co., Ltd.; Dyden Corporation; Teison Energy Technology Co., Ltd.; General Cable Technologies Corporation; System Wire Cable; Aptiv; Leoni AG; Brugg eConnect; Ionity Gmbh; Chengdu Khons Technology Co., Ltd. are a few key EV charging cables market players. Several other major EV charging cables market players were also analyzed for a holistic view of the market and its ecosystem.
- In March 2022, the UK government announced a new strategy to expand the UK’s charging network. This includes a USD $ 457 million Local Electric Vehicle Infrastructure (LEVI) fund that promises 300,000 public chargers expected to be available by the end of 2030.
- In February 2022, Tritium announced its plans to establish a US manufacturing facility in Tennessee, which is expected to produce 300,000 charging stations a year.
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EV Charging Cables Market: Impact of COVID-19 Pandemic
The COVID-19 pandemic affected most of the businesses across the world. The continuous growth in the count of virus-infected patients compelled respective government authorities to impose respective curbs on movement of humans, goods, and commodities with travel restrictions, mass lockdowns, and business shutdowns. Imposition of lockdown has resulted in lesser production of commodities and goods and lowered the frequency of service offerings. Manufacturing, automotive, semiconductor & electronics, oil & gas, aviation, mining, and other industries have witnessed a notable decline in their revenues due to the temporary shutdown of operations. In the first quarter of 2020, after the imposition of nationwide lockdown in most of the nations, many industrial sectors came to a standstill. As the pandemic unfolded in early 2020 and lockdowns were implemented in countries around the world, global car sales experienced an unprecedented drop. Over the first half of 2020, global electric car sales were on average 15% lower than over the same period in 2019. As per the Society Of Manufacturers Of Electric Vehicles (SMEV), registration of all electric vehicles during FY21 declined by 20% to 236,802 units from 295,683 units sold in FY20. The notable exception was Europe where electric car sales were 55% higher on the back of existing policy support schemes. Electric car sales in Europe have seen an increase to more than double over the year 2019 levels. Many of large EV charging cables market share in France, Italy, Germany, and the UK had significantly higher electric car sales than in 2019 throughout almost every month of 2020.
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Similarly, in India, the concept of installation of EV charging stations is becoming a reality with a network of around 700 EV charging stations to be distributed alongside each national highway. The National Highways Authority of India (NHAI) has declared plans to add an EV charging station for every 40 to 60 kilometres of national highways. The government body aims to cover 40,000 kilometres of highways by 2023 with charging stations. Such projects for deploying EV charging stations at the long route/national highways will positively impact the EV charging cables market growth in the coming years.
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Electric Vehicle Charging System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Charging Infrastructure Type (CCS, CHADEMO, Normal Charge, Tesla Super Charger, Type 2 (IEC 62196 and GB/T 20234)); Level of Charging (Level 1 (Less than 3.7 KW), Level 2 (3.7 - 22 KW), Level 3 (Above 22 KW)); Charging Point (Normal Charging, Super Charging, Inductive Charging); DC fast Charging (Fast Charging, Ultra Fast Charging); Installation Type (Portable Charger, Fixed Charger) and Geography
EV Charging Infrastructure Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Platform (Hardware and Services), Hardware (AC Charger and DC Charger), Charger Type (Public Chargers and Private Chargers), and IEC Mode (2, 3, and 4)
Electric Vehicle Fast Charging System Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Vehicle Type (Light Duty vehicles (LDV), Buses); Charger Type (Public, Private) and Geography
Electric Vehicle Chargers Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Vehicle Type (Battery Electric Vehicles, Plug-In Electric Vehicles, and Hybrid Electric Vehicles), Charging Type (On-Board Chargers and Off-Board Chargers), and End-users (Residential, and Non-residential)
Wind Charging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Installation (Onshore, Offshore); Application (Industrial, Commercial, Residential) and Geography
Wireless EV Charging Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Propulsion Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV)); Charging Station Type (Commercial Charging Stations, Home Charging Stations); Component (Vehicle Charging Pad, Base Charging Pad, Power Control Unit); Power Supply Range (3-11 kW, 11-50 kW, More Than 50 kW); Vehicle Type (Passenger Cars (PC), Electric Commercial Vehicle (ECV), Electric Two Wheeler) and Geography
Electric Vehicle On Board Charger Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Current Type (AC, DC); Propulsion Type (BEV, HEV, PHEV); Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium and Heavy Commericial Vehicles) and Geography
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