Selbyville, Delaware , Nov. 12, 2020 (GLOBE NEWSWIRE) -- As per credible estimates, worldwide EV charging cables industry is predicted to be worth USD 1,992.5 million by the year 2026. Numerous measures by government in countries including India, China, France and the US to encourage adoption of electric vehicles and large investments towards development of charging facilities are impelling global EV charging cables market growth. Also, strict federal norms aimed at diminishing vehicle emissions and nullifying carbon footprint are stimulating the industry growth, cites the report.
As per given report, global EV charging cables market is scrutinized based on application spectrum, charging level, cable length, power supply type, shape terrain, regional outlook, and competitive landscape. Thorough details regarding the shifts in market scenario and growth pattern followed over 2020-2026 are elucidated in the study.
Emergence of advanced charging cables with reduced charging time and low cost will work in favor of the market forecasts. Moreover, technological developments in component improvement and miniaturization has encouraged leading companies and small & medium enterprises to invest in the business vertical, thereby positively influencing global EV charging cables market size.
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Charging level market outlook
According to industry experts, level 3 segment of EV charging cables industry is estimated to grow substantially over 2020-2026. Level 3 systems are widely preferred as they are equipped with CHAdeMO technology, which can charge an EV up to 80% in 30 mins. Consumer inclination towards fast charging facilities will boost the segmental growth.
Highlighting application spectrum
Worldwide EV charging cables market share from public sector is poised to experience rapid rise over the analysis timeframe, owing to inflowing government investment for installation of public charging facilities and subsidizing the construction of charging stations. As reported by sources, France announced its plan to deploy 7 million charging stations by 2030. Similarly, in 2016, Korea increased its previous target of deploying 1,400 chargers to 3,000 by 2020 to encourage the adoption of electric vehicles.
Elaborating power supply segmentation
The alternate charging segment held substantial share of global EV charging cables market space in the recent past, on account of presence of AC supply stations at various locations and affordable vehicle charging offered by these systems. However, direct charging segment is likely to witness high growth rate in coming years, owing to less time required for charging. Notably, BMW group recently launched intelligent & cost-effective BMW Digital Charging Service for BMW iPerformance and BMW i vehicles.
Summarizing other industry segment
Speaking of shape terrain, global EV charging cables market is bifurcated into straight and coiled. While, as per cable length, the industry is divided into above 10 meters, 6 meters to 10 meters, and up to 5 meters.
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Regional overview
Asia Pacific EV charging cables industry is reckoned to grow momentously during the forecast period, owing to rising concerns regarding air pollution, and preference for energy-efficient vehicles in the region. For instance, under National Electric Mobility Mission Plan (NEMMP) 2020, India aims to record sales of 6-7 million units of electric vehicles, leading to a fossil fuel saving of 2.2-2.5 million tons by the year. Also, widespread acceptance of electric vehicles will drive the development of enhanced charging infrastructure, thereby fostering the demand for EV charging cables in APAC.
Global EV Charging Cables Market by Charging Level (Revenue, USD Million, 2015-2026)
- Level 3
- Level 2
- Level 1
Global EV Charging Cables Market by Cable Length (Revenue, USD Million, 2015-2026)
- above 10 Meters
- 6 Meters to 10 meters
- Up to 5 meters
Global EV Charging Cables Market Application Spectrum (Revenue, USD Million, 2015-2026)
- Private
- Public
Global EV Charging Cables Market by Power Supply (Revenue, USD Million, 2015-2026)
- Direct
- Alternate
Global EV Charging Cables Market by Shape Terrain (Revenue, USD Million, 2015-2026)
- Coiled
- Straight
Global EV Charging Cables Market Regional Outlook (Revenue, USD Million, 2015-2026)
North America
- U.S.
- Canada
Europe
- Germany
- Spain
- France
- UK
- Italy
- RoE
Asia Pacific
- Japan
- India
- China
- South Korea
- RoAPAC
Latin America
- Colombia
- Mexico
- Brazil
- RoLATAM
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- RoMEA
Global EV Charging Cables Market Competitive Landscape (Revenue, USD Million, 2015-2026)
- Dyden Corporation
- Besen International Group Ltd.
- Phoenix Contact Pvt. Ltd.
- Systems Wire and Cable Ltd
- Coroplast Inc.
- Leoni AG
- TE Connectivity
- Sinbon Electronics Co. Ltd.
- Manlon Polymers
- General Cable Technologies Corporation
- Brugg Group AG.
- Eland Cables
- Chengdu Khons Technology Co. Ltd.
- EV Teison
- Aptiv Plc.
Table of Contents
Chapter 1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
Chapter 2. Executive Summary
2.1. Market Highlights
Chapter 3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
Chapter 4. EV Charging Cables Market Insights
4.1. EV Charging Cables - Industry snapshot
4.2. EV Charging Cables Market Dynamics
4.2.1. Drivers and Opportunities
4.2.2. Restraints and Challenges
4.3. Porter's Five Forces Analysis
4.4. EV Charging Cables market PESTLE Analysis
4.5. Value Chain Analysis
4.6. Competitive Ranking Analysis, 2019
Chapter 5. EV Charging Cables Market Assessment by Charging Level
5.1. Introduction
5.1.1. Global EV Charging Cables Market share By Charging Level, 2019 & 2026
5.2. Level 1
5.2.1. Global EV Charging Cables Market, by Level 1, 2015 - 2026 (USD Million)
5.2.2. Global EV Charging Cables Market, by Level 1, by Region, 2015 - 2026 (USD Million)
5.3. Level 2
5.3.1. Global EV Charging Cables Market, by Level 2, 2015-2026 (USD Million)
5.3.2. Global EV Charging Cables Market, by Level 2, by Region, 2015-2026 (USD Million)
5.4. Level 3
5.4.1. Global EV Charging Cables Market, by Level 3, 2015-2026 (USD Million)
5.4.2. Global EV Charging Cables Market, by Level 3, by Region, 2015-2026 (USD Million)
Chapter 6. Global EV Charging Cables Market, by Cable Length
6.1. Introduction
6.1.1. Global EV Charging Cables Market Share, By Cable Length, 2019 & 2026
6.2. Up to 5 Meters
6.2.1. Global EV Charging Cables Market, by Upto 5 Meters, 2015-2026 (USD Million)
6.2.2. Global EV Charging Cables Market, by Upto 5 Meters, by Region, 2015-2026 (USD Million)
6.3. 6 Meters to 10 Meters
6.3.1. Global EV Charging Cables Market, by 6 Meters to 10 Meters, 2015-2026 (USD Million)
6.3.2. Global EV Charging Cables Market, by 6 Meters to 10 Meters, by Region, 2015-2026 (USD Million)
6.4. Above 10 Meters
6.4.1. Global EV Charging Cables Market, by Above 10 Meters, 2015-2026 (USD Million)
6.4.2. Global EV Charging Cables Market, by Above 10 Meters, by Region, 2015-2026 (USD Million)
Chapter 7. EV Charging Cables Market Assessment by Application
7.1. Introduction
7.1.1. Global EV Charging Cables Market Share, By Application, 2019 & 2026
7.2. Public
7.2.1. Global EV Charging Cables Market, by Public, 2015-2026 (USD Million)
7.2.2. Global EV Charging Cables Market, by Public, by Region, 2015-2026 (USD Million)
7.3. Private
7.3.1. Global EV Charging Cables Market, by Private, 2015-2026 (USD Million)
7.3.2. Global EV Charging Cables Market, by Private, by Region, 2015-2026 (USD Million)
Chapter 8. EV Charging Cables Market Assessment by Power Supply
8.1. Introduction
8.1.1. Global EV Charging Cables Market Share, By Power Supply, 2019 & 2026
8.2. Alternate Charging
8.2.1. Global EV Charging Cables Market, by Alternate Charging, 2015-2026 (USD Million)
8.2.2. Global EV Charging Cables Market, by Alternate Charging, by Region, 2015-2026 (USD Million)
8.3. Direct Charging
8.3.1. Global EV Charging Cables Market, by Direct Charging, 2015-2026 (USD Million)
8.3.2. Global EV Charging Cables Market, by Direct Charging, by Region, 2015-2026 (USD Million)
Chapter 9. EV Charging Cables Market Assessment by Shape
9.1. Introduction
9.1.1. Global EV Charging Cables Market Share, By Shape, 2019 & 2026
9.2. Straight
9.2.1. Global EV Charging Cables Market, by Straight, 2015-2026 (USD Million)
9.2.2. Global EV Charging Cables Market, by Straight, by Region, 2015-2026 (USD Million)
9.3. Coiled
9.3.1. Global EV Charging Cables Market, by Coiled, 2015-2026 (USD Million)
9.3.2. Global EV Charging Cables Market, by Coiled, by Region, 2015-2026 (USD Million)
Chapter 10. EV Charging Cables Market Assessment by Geography
Related Report:
EV Charging Infrastructure Market Size, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Increasing awareness toward environment sustainability along with escalating demand for low carbon, electric fueled and energy efficient transportation is set to drive the EV charging infrastructure market growth. Growing energy prices, rapid industrialization coupled with numerous collaborations amongst various vehicle manufacturing companies including BMW Group and Nissan will encourage the product installation. Strict government policies and mandates aiming at carbon emission reduction will further boost the industry scenario. Rising demand for electricity along with increasing number of green energy vehicles will influence the product installation. Technological advancements combined with mounting investments in charging infrastructure development is set to propel the product penetration. Moreover, increasing focus toward clean power equipment to accomplish the set energy levels coupled with an improvement in the air quality are the underline parameters augmenting the business outlook.
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