EV Charging Cable Market Size, Share, Growth Analysis, By Shape(Straight and Coiled), By Power Supply(AC charging and DC charging), By Charging Level(Level 1, Level 2, and Level 3), By Application(Private charging and public charging), By Length(2-5 meters, 6-10 meters, >10 meters), By Mode(Mode 1 & 2, Mode 3, Mode 4), By Diameter(Up to 10mm, 10mm to 20mm, and more than 20mm), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25C2059 | Region: Global | Published Date: July, 2024
Pages: 157 |Tables: 192 |Figures: 80

EV Charging Cable Market Insights

Global EV Charging Cable Market size was valued at USD 670 million in 2021 and is poised to grow from USD 791.87 million in 2022 to USD 3450 million by 2030, growing at a CAGR of 18.1% in the forecast period (2023-2030).

The market is anticipated to grow owing to increasing EV adoption, rising demand for EV fast-charging connections, and rapid growth of EV supply systems. Electric vehicles (EVs) include rechargeable battery packs installed to provide the energy required to power them; these batteries can be charged using public or private station outlets. Battery electric vehicles (BEVs), which are driven solely by electricity, significantly reduce the noise, air pollution, and greenhouse gas emissions associated with driving. As a result, there is a growing need for infrastructure to support electric vehicle charging.

In addition, the market is growing as a result of rising government initiatives and attempts to encourage the use of EVs. Countries like China, the Netherlands, the U.S., France, Norway, and Japan have made large investments in the construction of charging infrastructure, which is also expected to have an impact on size of the the EV recharging cable market. For instance, the installation of a dedicated home charger for an electric car is offered in the U.K. for USD 650.

The market is also anticipated to be driven by growing fast charging cable demand and rapid advancements in EV charger equipment. In various locations, electric car charging cables support various charging modes. The EV charging market is expected to grow rapidly and efforts being made in order to support rising sales of battery electric vehicles and plug-in electric vehicles.

US EV Charging Cable Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 670 million

Largest Segment

Straight

Fastest Growth

Straight

Growth Rate

18.1% CAGR

Global EV charging cable Market ($ Mn)
Country Share for North America Region (%)

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EV Charging Cable Market Segmental Analysis

Global EV charging cable Market is segmented based on Shape, Power Supply, Charging Level, Application, Length, Mode, Diameter and region. Based on Shape the EV Charging Cable Market is segmented Straight and Coiled. Based on Power Supply the EV Charging Cable Market  is segmented into AC charging and DC charging. Based on Charging Level the EV Charging Cable Market is segmented into Level 1, Level 2, and Level 3. Based on Application Private charging and public charging. Based on Length the EV Charging Cable Market is segmented into 2-5 meters, 6-10 meters, >10 meters. Based on Mode the EV Charging Cable Market is segmented into Mode 1 & 2, Mode 3, Mode 4. Based on Diameter the EV Charging Cable Market is segmented into Up to 10mm, 10mm to 20mm, and more than 20mm. Based on region the global EV charging cable Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

EV Charging Cable Market Analysis by Shape

The market is segmented into straight and coiled cable based on cable shape. With a market share of over 62.0% in 2021, the straight cable segment was the market leader. This trend is expected to continue during the forecast period. These cables are now used in the majority of public charging stations since they are simple to install, need little maintenance, and are affordable.

The market segment for coiled cable is expected to grow at the highest CAGR of 27.3% during the forecast period. These are also referred to as spiral cables, and also because they don't stretch out over the ground, they are simple to maintain and less likely to cause hazardous situations. As a consequence, these cables are more lasting than straight cables and need less storage space. Also, it is expected that developments would decrease the price of coiled cables, driving the segment's growth over the forecast period.

EV Charging Cable Market Analysis by Application

The market can be segmented into applications in both private and public charging. With over 71.0% of the total revenue in 2021, the private charging segment dominated the market, and it is expected that it will continue to hold the lead during the forecast period. The wide use of these electric vehicle charging stations for private charging is critical for growth.

The fastest CAGR of 27.0% is expected for public charging stations during 2022-2030. Shopping malls, airports, hotels, parking lots for commercial properties, offices of the government, taxi stops, and motorways all have these stations built. The charging stations offer the ability to charge an electric motor fast and at a voltage level. Over the projection period, demand for public charging stations is anticipated to rise because of the growing use of electric cars and the growing demand among EV owners to reduce charging.

Global EV charging cable Market By Type

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EV Charging Cable Market Regional Insights

Asia Pacific dominated the global market. China has the biggest market for charging cables for electric vehicles. As they foresaw the growing potential of the global market for EV supply equipment, the governments of China and Japan have devised a variety of laws and efforts to encourage major market players to produce EV charging infrastructure in their own nations. Throughout the projection period, it is predicted that the high density of EV charging stations in the region would foster regional market expansion.

North America is expected to have the highest CAGR during the forecast period, at 29.6%, followed by Europe. This is as a result of manufacturers putting more emphasis on creating fast, efficient, and high-performing electric vehicles. The expansion of cutting-edge charging infrastructure and the presence of significant EV supply equipment manufacturers in the region are expected to drive the regional market. The North American region is anticipated to be one of the largest markets for electric vehicle charging cables due to the high adoption rate of electric vehicles and the favorable government regulations and incentives. Particularly in the United States, there is a sizable market for electric vehicles and the infrastructure necessary to support vehicles.

Global EV charging cable Market By Region
  • Largest
  • Fastest

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EV Charging Cable Market Dynamics

EV Charging Cable Market Drivers

Increase in electric vehicle sales

  • The development of the technology, lowering costs, increasing public support for clean transportation, increase access to charging stations, and improved public awareness have all contributed to an increase in the use of electric vehicles over the past several years. A number of governments have also made investments in electric vehicles due to concerns over auto emissions and the depletion of non-renewable energy sources. Even tax breaks for purchasing EVs have encouraged customers to buy more EVs.

More and more high-speed charging infrastructure is necessary

  • Electric car charging cable manufacturers are developing complex cables for high-speed charging in order to meet growing demand for high-speed charging stations. The global market for electric car charging connections is expected to be driven by an increase in government spending to create charging infrastructure. It is projected that the market for charging cables for electric vehicles will continue to grow significantly as a result of the widespread production of electric components.

EV Charging Cable Market Restraints

High cost of EV charging cables to restrict market growth

  • A rapid charging cable is more expensive than a slow charging cable, costing about USD 125. The adoption of the technology would be constrained by the high cost of charging cables and outlets. For instance, establishing sluggish charging stations costs USD 1800 in the United Kingdom, which is an astronomical amount. Also, substantial advancements in charging cable technology would boost user adoption of the most recent models. As a result, consumers will suffer a sizable loss due to the initial cost of building the charging station. The market for EV charging cables may not be able to expand due to all of these restrictions.

Advancement of wireless EV charging may restrict the market growth

  • An electric vehicle (EV) can be wirelessly charged from the road although it's parked or moving due to wireless charging technology. The use of wireless charging for EVs is predicted to be fueled by the growing need for vehicle safety, the market expansion for premium-segment automobiles, the development of completely the popularity of electric automobiles is growing as well as autonomous vehicles. Wireless connectivity is going to be utilized by a few manufacturers and researchers in a variety of applications. As a result, it is anticipated that the technology will soon hit the market. These factors might affect the expansion of the global EV charging cable market.

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EV Charging Cable Market Competitive Landscape

Businesses frequently engage in strategic actions like contracts and agreements, partnerships, joint ventures, and the introduction of new products to maintain their market position. They also want to grow both locally and globally and provide a broader selection of products to their consumers. These businesses have wide-ranging global distribution networks.

EV Charging Cable Market Top Player’s Company Profiles

  • Phoenix Contact GmbH & Co. KG
  • Leoni AG
  • Schneider Electric SE
  • TE Connectivity Ltd.
  • Dyden Corporation
  • Aptiv PLC
  • Sumitomo Electric Industries, Ltd.
  • TEK cable
  • Coroplast Fritz Müller GmbH & Co. KG
  • Bals Elektrotechnik GmbH & Co. KG
  • Brugg Kabel AG
  • Jiangsu Ruiyang Cable Co., Ltd.
  • Cable Manufacturing & Assembly Co., Inc.
  • Sinbon Electronics Co., Ltd.
  • Cixi City Henghe Yuefeng Electric Cable Factory
  • LAPP Holding AG
  • General Cable Technologies Corporation
  • Huber+Suhner AG
  • Zhejiang Kehong Optoelectronics Co., Ltd.
  • Ningbo Qiaopu Electric Co., Ltd.

EV Charging Cable Market Recent Developments

  • In July 2022, A new 65W 2C1A USB PD adapter powered by Transport’s Super Gan Gen IV technology was unveiled by Phihong, a global producer of power supplies and EV charging stations. The Gan FET platform also provides advantages like simple system design and fewer system components.
  • In April 2022, the first charger was unveiled in Düsseldorf, Germany, as part of a strategic alliance between the VW Group and the world's largest energy company, BP. By 2024, the collaboration wants to have quickly built a fast-charging network throughout all of Europe.
  • In September 2022, Bosch has introduced an innovative charging connection for electric vehicles that does not use the typical charging brick with an adaptor. According to Bosch, the new charging cable weighs about 3 kg (6.6 lbs), which is about 40% less than cords with a brick. The updated cable also includes adapters that allow for Level 1 and Level 2 AC charging.

EV Charging Cable Key Market Trends

  • The demand for fast charging is rising: There is an increasing demand for faster charging since the number of electric vehicles rises. Customers are increasingly asking for quick-charging electric vehicle charging cables so customers can avoid having to wait for hours to get their cars charged. Due to this, quicker charging technologies have been created, such as DC fast charging, which can fully charge an electric vehicle in only a few minutes.
  • Government services and incentives: Governments all across the world are providing incentives and subsidies to promote the use of electric vehicles and infrastructure for their charging. The need for electric vehicle charging cables is being fueled by these initiatives, which also include tax credits, rebates, and subsidies.
  • Innovation in charging cable technologies: New and novel charging cable technologies that are more effective, lengthy, and user-friendly are being created with growing zeal. For instance, some businesses are working on wireless charging cords that may charge electric vehicles without ever using real cables.

EV Charging Cable Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global EV charging cable market analysis, the market is anticipated to be driven by growing fast charging cable demand and rapid advancements in EV charger equipment. In various locations, electric car charging cables support various charging modes. Electric car charging cable manufacturers are developing complex cables for high-speed charging in order to meet growing demand for high-speed charging stations. The global market is expected to be driven by an increase in government spending to create charging infrastructure. It is projected that the market for charging cables for electric vehicles will continue to grow significantly as a result of the widespread production of electric components. Governments all across the world are providing incentives and subsidies to promote the use of electric vehicles and infrastructure for their charging. The need for electric vehicle charging cables is being fueled by these initiatives, which also include tax credits, rebates, and subsidies.

Report Metric Details
Market size value in 2023 USD 670 million
Market size value in 2031 USD 3450 million
Growth Rate 18.1%
Forecast period 2024-2031
Forecast Unit (Value) USD Million
Segments covered
  • Shape
    • Straight and Coiled
  • Power Supply
    • AC charging and DC charging
  • Charging Level
    • Level 1, Level 2, and Level 3
  • Application
    • Private charging and public charging
  • Length
    • 2-5 meters, 6-10 meters, >10 meters
  • Mode
    • Mode 1 & 2, Mode 3, Mode 4
  • Diameter
    • Up to 10mm, 10mm to 20mm, and more than 20mm
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Phoenix Contact GmbH & Co. KG
  • Leoni AG
  • Schneider Electric SE
  • TE Connectivity Ltd.
  • Dyden Corporation
  • Aptiv PLC
  • Sumitomo Electric Industries, Ltd.
  • TEK cable
  • Coroplast Fritz Müller GmbH & Co. KG
  • Bals Elektrotechnik GmbH & Co. KG
  • Brugg Kabel AG
  • Jiangsu Ruiyang Cable Co., Ltd.
  • Cable Manufacturing & Assembly Co., Inc.
  • Sinbon Electronics Co., Ltd.
  • Cixi City Henghe Yuefeng Electric Cable Factory
  • LAPP Holding AG
  • General Cable Technologies Corporation
  • Huber+Suhner AG
  • Zhejiang Kehong Optoelectronics Co., Ltd.
  • Ningbo Qiaopu Electric Co., Ltd.
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on EV Charging Cable Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on EV Charging Cable Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the EV Charging Cable Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the EV Charging Cable Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the EV Charging Cable Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the EV Charging Cable Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

EV Charging Cable Market size was valued at USD 670 million in 2021 and is poised to grow from USD 791.87 million in 2022 to USD 3450 million by 2030, growing at a CAGR of 18.1% in the forecast period (2023-2030).

Businesses frequently engage in strategic actions like contracts and agreements, partnerships, joint ventures, and the introduction of new products to maintain their market position. They also want to grow both locally and globally and provide a broader selection of products to their consumers. These businesses have wide-ranging distribution networks. 'Phoenix Contact GmbH & Co. KG', 'Leoni AG', 'Schneider Electric SE', 'TE Connectivity Ltd.', 'Dyden Corporation', 'Aptiv PLC', 'Sumitomo Electric Industries, Ltd.', 'TEK cable', 'Coroplast Fritz Müller GmbH & Co. KG', 'Bals Elektrotechnik GmbH & Co. KG', 'Brugg Kabel AG', 'Jiangsu Ruiyang Cable Co., Ltd.', 'Cable Manufacturing & Assembly Co., Inc.', 'Sinbon Electronics Co., Ltd.', 'Cixi City Henghe Yuefeng Electric Cable Factory', 'LAPP Holding AG', 'General Cable Technologies Corporation', 'Huber+Suhner AG', 'Zhejiang Kehong Optoelectronics Co., Ltd.', 'Ningbo Qiaopu Electric Co., Ltd.'

The development of the technology, lowering costs, increasing public support for clean transportation, increase access to charging stations, and improved public awareness have all contributed to an increase in the use of electric vehicles over the past several years. A number of governments have also made investments in electric vehicles due to concerns over auto emissions and the depletion of non-renewable energy sources. Even tax breaks for purchasing EVs have encouraged customers to buy more EVs.

The demand for fast charging is rising: There is an increasing demand for faster charging since the number of electric vehicles rises. Customers are increasingly asking for quick-charging electric vehicle charging cables so customers can avoid having to wait for hours to get their cars charged. Due to this, quicker charging technologies have been created, such as DC fast charging, which can fully charge an electric vehicle in only a few minutes.

Asia Pacific dominated the market. China has the biggest market for charging cables for electric vehicles. As they foresaw the growing potential of the market for EV supply equipment, the governments of China and Japan have devised a variety of laws and efforts to encourage major market players to produce EV charging infrastructure in their own nations. Throughout the projection period, it is predicted that the high density of EV charging stations in the region would foster regional market expansion.

EV Charging Cable Market size was valued at USD 670 million in 2021 and is poised to grow from USD 791.87 million in 2022 to USD 3450 million by 2030, growing at a CAGR of 18.1% in the forecast period (2023-2030).

Businesses frequently engage in strategic actions like contracts and agreements, partnerships, joint ventures, and the introduction of new products to maintain their market position. They also want to grow both locally and globally and provide a broader selection of products to their consumers. These businesses have wide-ranging distribution networks. 'Phoenix Contact GmbH & Co. KG', 'Leoni AG', 'Schneider Electric SE', 'TE Connectivity Ltd.', 'Dyden Corporation', 'Aptiv PLC', 'Sumitomo Electric Industries, Ltd.', 'TEK cable', 'Coroplast Fritz Müller GmbH & Co. KG', 'Bals Elektrotechnik GmbH & Co. KG', 'Brugg Kabel AG', 'Jiangsu Ruiyang Cable Co., Ltd.', 'Cable Manufacturing & Assembly Co., Inc.', 'Sinbon Electronics Co., Ltd.', 'Cixi City Henghe Yuefeng Electric Cable Factory', 'LAPP Holding AG', 'General Cable Technologies Corporation', 'Huber+Suhner AG', 'Zhejiang Kehong Optoelectronics Co., Ltd.', 'Ningbo Qiaopu Electric Co., Ltd.'

The development of the technology, lowering costs, increasing public support for clean transportation, increase access to charging stations, and improved public awareness have all contributed to an increase in the use of electric vehicles over the past several years. A number of governments have also made investments in electric vehicles due to concerns over auto emissions and the depletion of non-renewable energy sources. Even tax breaks for purchasing EVs have encouraged customers to buy more EVs.

The demand for fast charging is rising: There is an increasing demand for faster charging since the number of electric vehicles rises. Customers are increasingly asking for quick-charging electric vehicle charging cables so customers can avoid having to wait for hours to get their cars charged. Due to this, quicker charging technologies have been created, such as DC fast charging, which can fully charge an electric vehicle in only a few minutes.

Asia Pacific dominated the market. China has the biggest market for charging cables for electric vehicles. As they foresaw the growing potential of the market for EV supply equipment, the governments of China and Japan have devised a variety of laws and efforts to encourage major market players to produce EV charging infrastructure in their own nations. Throughout the projection period, it is predicted that the high density of EV charging stations in the region would foster regional market expansion.

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