EV Charging Cable Market Updates

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.

Global EV Charging Cable Market size was valued at USD 1.4 billion in 2023 and is poised to grow from USD 1.64 billion in 2024 to USD 5.66 billion by 2032, growing at a CAGR of 16.8% during the forecast period (2025-2032).

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. 'Phoenix Contact GmbH & Co. KG (Germany) ', 'Schneider Electric SE (France) ', 'TE Connectivity Ltd. (Switzerland) ', 'Dyden Corporation (Japan) ', 'Aptiv PLC (Ireland) ', 'Sumitomo Electric Industries, Ltd. (Japan) ', 'TEK Cable (China) ', 'Coroplast Fritz Müller GmbH & Co. KG (Germany) ', 'Bals Elektrotechnik GmbH & Co. KG (Germany) ', 'Brugg Kabel AG (Switzerland) ', 'Sinbon Electronics Co., Ltd. (Taiwan) ', 'Cixi City Henghe Yuefeng Electric Cable Factory (China) ', 'LAPP Holding AG (Germany) ', 'Huber+Suhner AG (Switzerland) ', 'Zhejiang Kehong Optoelectronics Co., Ltd. (China) ', 'Ningbo Qiaopu Electric Co., Ltd. (China)'

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 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.