Global Electric Vehicle (EV) Charging Cable Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

The electric vehicle (EV) charging cable market consists of sales of direct current (DC) fast charging cables and smart charging cables. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast

The electric vehicle (EV) charging cable market size has grown rapidly in recent years. It will grow from $0.93 billion in 2023 to $1.07 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to regulatory support, increased market demand for electric vehicles, rising fuel prices, advancement in battery technology, and consumer demand for convenience and accessibility.

The electric vehicle (EV) charging cable market size is expected to see rapid growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to enhanced regulatory measures, growing market penetration, rising environmental awareness, expansion of charging infrastructure, and ultra-fast charging cable. Major trends in the forecast period include expansion of public charging, home and workspace charging, sustainable materials, government and policy support, and advancement in electric vehicle charging technology.

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Segmentation & Regional Insights

The electric vehicle (EV) charging cable market covered in this report is segmented –

1) By Type: Normal, High-Power, Liquid-Cooled High-Power
2) By Connector Type: Type 1, Type 2, Combined Charging System (CCS1), Combined Charging System (CCS2), CHAdeMO, GB/T, North American Tesla Connector Standard (NACS) Or TESLA Connectors
3) By Length: Below 5 Meters, 6 Meter To 10 Meter, Above 10 Meters
4) By Shape: Straight, Coiled
5) By Application: Private Charging, Public Charging

Asia-Pacific was the largest region in the electric vehicle (EV) charging cable market in 2023. The regions covered in the electric vehicle (EV) charging cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing adoption of electric vehicles (EVs) is expected to propel the growth of the electric vehicle (EV) charging cable market going forward. Electric vehicles refer to automobiles that are powered either entirely or partially by electricity stored in rechargeable batteries rather than by internal combustion engines. The adoption of electric vehicles (EVs) is growing due to advancements in technology, environmental concerns, government incentives, and decreasing costs. Electric vehicle cables are used to connect the electric vehicles to a power source for charging their batteries. For instance, in April 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales exceeded 10 million in 2022 and are nearing 14 million in 2023, with firm objectives increasing to 35% by 2030. Therefore, the growing adoption of electric vehicles is driving the growth of the electric vehicle (EV) charging cable market.

Key Industry Players

Major companies operating in the electric vehicle (EV) charging cable market are Siemens AG, Schneider Electric SE, ABB Ltd., Aptiv Plc, Legrand S.A., Leoni AG, Phoenix Contact Ltd., Webasto Group, Huber+Suhner AG, Sinbon Electronics Co. Ltd., AeroVironment Inc., Mennekes Electrical Products, EVBox BV, Tritium DCFC Limited, Eland Cable Limited, The Besen Group, Circontrol SA, Coroplast Inc., Charge Amps AB, Dyden Corporation, AG Electrical Technology Co., Chengdu Khons Technology Co. Ltd., Teison EV, Brugg eConnect

The electric vehicle (ev) charging cable market report table of contents includes:

1. Executive Summary
2. Electric Vehicle (EV) Charging Cable Market Characteristics
3. Electric Vehicle (EV) Charging Cable Market Trends And Strategies
4. Electric Vehicle (EV) Charging Cable Market – Macro Economic Scenario
5. Global Electric Vehicle (EV) Charging Cable Market Size and Growth
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32. Global Electric Vehicle (EV) Charging Cable Market Competitive Benchmarking
33. Global Electric Vehicle (EV) Charging Cable Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electric Vehicle (EV) Charging Cable Market
35. Electric Vehicle (EV) Charging Cable Market Future Outlook and Potential Analysis
36. Appendix