EV Charging Cables A Growing Parallel Market
By Mat Dirjish
It’s more than obvious that any emerging technology most likely involves accessories necessary for its proper operation and the market for these required accessories will grow in parallel. Such is the case with electronic vehicles (EVs). They require charging, which involves a cable with connectors to interface the vehicle with the charging power source. And it’s quite likely that EV owners will have one such cable, perhaps two with one being for ac, the other for dc, or as an emergency backup.
A MarketsandMarkets report, “EV Charging Cables Market by Power Supply Type, Application Type, Length, Shape, Charging Level, Region – Global Forecast to 2027” sees the market for EV charging cables hitting $1.808 billion by 2027. That’s up from an estimated $198 million in 2019. Also obvious, factors driving the market include increasing adoption of electric vehicles, rapid development of electric vehicle supply equipment, and increasing demand for fast charging cables.
Other findings include:
- Public charging is the fastest growing segment during the forecast period.
- Coiled cable set to be the fastest growing segment.
- North America set to be the fastest growing market.
- Major players in the EV charging cables market include Leoni AG (Germany), TE Connectivity (Switzerland), BESEN Group (China), Aptiv (Ireland), Phoenix Contact (Germany), and Coroplast (Germany).
For deeper data, request a free sample of the “EV Charging Cables Market” report.
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