Sep 23, 2020 7:00 AM ET
iCrowd Newswire – Sep 23, 2020
Zion Market Research has published a new report titled “Global EV Charging Cables Market – By Power Supply Type (AC Charging and DC Charging), By Application (Private Charging and Public Charging), By Cable Length (2 Meters to 5 Meters, 6 Meters to 10 Meters, and Above 10 Meters), By Shape (Straight and Coiled), By Charging Level (Level 1, Level 2, and Level 3), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” According to the report, global demand for the EV Charging Cables market was valued over USD 199 Million in 2019 and is expected to reach a CAGR of 31.10% between 2019 and 2025.
AC charging is expected to hold the largest market share during the forecast period
The AC charging cable category is predicted to dominate the global EV Charging Cables market during the forecast period. The escalating usage of AC charging in residential and semi-commercial charging stations is expected to help the AC charging category dominate the market. In addition, the low installation cost and low power output will further support the growth of the global EV Charging Cables market during forecast period.
Level 3 category the to be the fastest growing market during the forecast period
The ability of a Level 3 charger to charge a completely drained vehicle up to 80% in less than 15 Minutes is likely to propel the growth of the Level 3 category in the global EV Charging Cables market. The high power charging capability that too in less than 30 Minutes is the primary factor augmenting the market growth. Apart from this, the rising demand for fast charging options in regions like China, South Korea, and Japan is expected to aid in rapid advancements of high-power charging infrastructure, thereby aiding the Level 3 category to grow at a faster rate during the forecast period.
North American market is expected to exhibit the highest growth during the forecast period
The EV Charging Cables market is likely to exhibit the fastest growth in the North American regions during the forecast period. The increasing government initiative projects for escalating the number of public charging stations is projected to expand the market for EV charging cables in the region. Additionally, the rising installation of hi-tech charging setup and the existence of major companies in the EV supply equipment industry will fuel the EV Charging Cables market in North America.
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Asia Pacific is projected to hold the largest market size during the forecast period
Asia Pacific region is estimated to dominate EV Charging Cables market during the forecast period owing to the high number of EV charging stations in the region. The growing potential of the global electric vehicle supply equipment market in emerging regions such as China and India has attracted key OEMs to producers of electric vehicle charging infrastructure in local markets.
Key Market Players
Some of the key players in the global EV Charging Cables market include TE Connectivity, BESEN Group, Leoni AG, Phoenix Contact, Aptiv, and Coroplast.
The report on global EV Charging Cables market is segmented into:
Global EV Charging Cables Market: By Power Supply Type Segmentation Analysis
- AC charging
- DC charging
Global EV Charging Cables Market: By Application Segmentation Analysis
- Private charging
- Public charging
Global EV Charging Cables Market: By Cable Length Segmentation Analysis
- 2 Meters to 5 Meters
- 6 Meters to 10 Meters
- Above 10 Meters
Global EV Charging Cables Market: By Shape Segmentation Analysis
Global EV Charging Cables Market: By Charging Level Segmentation Analysis
- Level 1
- Level 2
- Level 3
Global EV Charging Cables Market: By Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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Keywords: EV Charging Cables Market