EV Charging Cables Market Analysis | 2023-2028

Market Insights

The EV charging cables market was estimated at USD 651 million in 2022 and is likely to grow at a CAGR of 29.4% during 2023-2028 to reach USD 3105.76 million in 2028.

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Market Dynamics

Introduction

EV charging cables are an important aspect of electric vehicles. Different types of EV charging cables are used according to the power rating, vehicle specifications, and cabling requirements.

EVs are equipped with rechargeable battery packs that can be charged through an outlet or a charging station. Batteries of electric vehicles are only powered by electricity, reducing greenhouse gas emissions, air pollution, and vehicular noise. Increasing efforts by the government to reduce emissions are driving the demand for electric vehicles which is further fueling the growth of the EV charging cables market.

Market Drivers 

The prime factors contributing to the demand for EV charging cables market are:

• The increasing development in the EV infrastructure in emerging economies
• The mounting adoption of electric vehicles.
• The growing requirement for fast charging cables.

Key Players

The following are the key players in the EV Charging Cables Market (arranged alphabetically)

• Aptiv Plc
• Besen International Group Ltd.
• Coroplast
• Chengdu Khons Technology Co., Ltd.
• General Cable Technologies Corporation
• Leoni AG
• PHOENIX CONTACT GmbH & Co. KG
• Sinbon Electronics
• Systems Wire and Cable
• TE Connectivity Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Power Supply Type

"AC segment held a share of 70% in 2022"

The market is segmented as AC and DC. AC segment held a share of 70% in 2022. DC segment is anticipated to exhibit the highest CAGR of nearly 26.5% during the forecast period. The AC power supply is majorly used in residential and semi-commercial charging stations with a charging speed of 22 kW depending on vehicle and infrastructure standards. Although compared to DC power supply, AC power supply requires a higher charging duration.

 By Cable Shape Type

"Straight cable held a share of more than 60% in 2022"

The EV charging cables market is segmented as straight and coiled. The straight cable held a share of more than 60% in 2022. Most public charging stations adopt straight cables because of their ease of installation, reduced costs, and low maintenance over time. Straight EV charging cables are spread on the ground and do not suspend weight on either side of the sockets.

Regional Analysis

"Asia Pacific held a share of more than 55% in 2022"

Asia Pacific held a share of more than 55% in 2022, with China, Japan, South Korea, and India being the major countries with lucrative growth opportunities. The growth of the market is mainly driven by the increasing adoption of electric vehicles in the region. Increased spending to support infrastructure for electric vehicles is expected to further drive the region’s market.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s EV charging cables market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The EV charging cables market is segmented into the following categories:

By Power Supply Type 

• AC
• DC

By Application Type 

• Private Charging
• Public Charging

By Cable Length Type 

• Up to 5 Meters
• 6 – 10 Meters
• Above 10 Meters

By Cable Shape Type 

• Straight
• Coiled

By Charging Level Type 

• 300-600V
• 240V
• 120V

By Region 

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the power supply types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.