According to the latest report by IMARC Group, titled “EV Charging Cables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global EV charging cables market size reached US$ 837.7 Million in 2022. EV charging cables are essential accessories for electric vehicles (EVs) that facilitate the charging process. These cables serve as a physical link between the charging station and the EV, allowing the transfer of electric power to recharge the vehicle's battery. They are designed with high-quality, durable materials to ensure safe and efficient power delivery. Some cables feature advanced functionalities, such as built-in intelligence, to provide real-time information about the charging process, such as charging status, energy consumption, and error notifications. They come in different lengths and connectors to accommodate various charging needs and vehicle models. They play a crucial role in enabling convenient and efficient charging for electric vehicles, ensuring a seamless experience for EV owners while promoting the widespread adoption of sustainable transportation.
Global EV Charging Cables Market Trends:
The increasing adoption of electric vehicles (EVs) by the masses is driving the global market. Moreover, governments worldwide are implementing policies and regulations and are heavily investing to promote the adoption of electric vehicles in an attempt to minimize carbon emissions, this is providing a boost to the market. Besides, the increasing awareness about environmental issues among individuals is catalyzing the demand for EV charging cables across the globe. Apart from this, continual technological advancements in EV charging cables, such as improved charging speed, enhanced safety features, and compatibility with various charging standards, are creating a positive market outlook. In line with this, the expansion of public charging networks, including networks operated by charging station providers and collaborations between different stakeholders, is acting as another growth-inducing factor. Furthermore, the introduction of shared mobility services, including ride-hailing and car-sharing, is augmenting the need for charging infrastructure to support electric vehicles used in these services, thereby driving the demand. The market is further driven by the increasing trend towards electrification in commercial and industrial sectors, such as the deployment of electric trucks, construction equipment, and forklifts. Looking forward, the market value is projected to reach US$ 2,891.2 Million by 2028, expanding at a CAGR of 21.9% during 2023-2028.
- Based on the cable length, the market has been segmented into below 5 meter, 6 meter to 10 meter, and above 10 meter. Currently, below 5 meter length represents the largest market segment.
- On the basis of the shape, the market has been divided into straight and coiled. Among these, straight shape exhibits a clear dominance in the market.
- Based on the charging level, the market has been bifurcated into level 1, 2, and 3. Among these, level 1 accounts for the largest market share.
- On the basis of the power type, the market has been divided into AC and DC charging. Among these, AC charging exhibits a clear dominance in the market.
- Based on the application, the market has been segmented into private and public charging. Among these, private charging exhibits a clear dominance in the market.
- Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, Asia Pacific holds the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being AG Electrical Technology Co., Besen International Group Co. Ltd., Brugg Group, Coroplast Fritz Müller GmbH & Co. KG, Dyden Corporation, Eland Cable Limited, EV Cables UK (Wottz Group), EV Teison, Leoni AG, Phoenix Contact GmbH & Co. KG, Sinbon Electronics Co. Ltd., Systems Wire Cable, and TE Connectivity Ltd.
|Base Year of the Analysis
|Cable Lengths Covered
||Below 5 Meter, 6 Meter to 10 Meter, Above 10 Meter
|Charging Levels Covered
||Level 1, Level 2, Level 3
|Power Types Covered
||AC Charging, DC Charging
||Private Charging, Public Charging
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AG Electrical Technology Co., Besen International Group Co. Ltd., Brugg Group, Coroplast Fritz Müller GmbH & Co. KG, Dyden Corporation, Eland Cable Limited, EV Cables UK (Wottz Group), EV Teison, Leoni AG, Phoenix Contact GmbH & Co. KG, Sinbon Electronics Co. Ltd., Systems Wire Cable, TE Connectivity Ltd., etc.
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