Pune, Oct. 09, 2020 (GLOBE NEWSWIRE) -- The global electric vehicle charging cables market is expected to gain traction from the increasing evolution of fast charging infrastructures. This is resulting in the rising usage of public charging points by electric vehicle (EV) owners because of their ability to deliver full charging of those vehicles in less period. This information is given by Fortune Business Insights™ in a new report, titled, “Electric Vehicle Charging Cables Market Size, Share & COVID-19 Impact Analysis, By Application (Public Charging, Private Charging), By Length (Below 5 meters, 6 meters to 10 meters and Above 10 meters), By Charging Level (Level 1, Level 2 and Level 3), By Power Supply (Alternative Charging (AC) and Direct Charging (DC)), By Shape (Straight Cable and Coiled Cable) and Regional Forecasts, 2020-2027.” The report further states that the market size was USD 516.6 million in 2019 and is projected to reach USD 1244.3 million by 2027, exhibiting a CAGR of 22.1% during the forecast period.
Automakers Shift to Manufacturing PPE amid COVID-19 Pandemic
The COVID-19 pandemic is affecting a large number of automakers, such as Nissan Motor Corporation, Tesla Motors, Daimler Corporation, Kia Motors Corporation, and BMW Corporation. These companies are focusing on the production of personal protective equipment (PPE) by shutting down their electric vehicle manufacturing facilities. We are providing extensive research reports to analyze the current situation of the market. Our analysts have used Porter’s five forces model to help you better understand the scenario.
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List of the Leading Companies Profiled in the Global Electric Vehicle Charging Cables Market are:
- TE Connectivity (Schaffhausen, Switzerland)
- Aptiv (Dublin, Ireland)
- Phoenix Contact (Blomberg, Germany)
- Coroplast (Wuppertal, Germany)
- BESEN Group (Jiangsu, China)
- Leoni AG (Nürnberg, Germany)
- Other prominent companies
Drivers & Restraints
Rising Demand for Power Grids & Charging Terminals to Boost Growth
The increasing usage of electric vehicles is surging the demand for established charging terminals and power grids. This would aid the vehicles to operate smoothly. Besides, government agencies of various countries are implementing stringent laws and regulations to curb the emission of carbon in the atmosphere. This is leading to the rising adoption of EVs, which, in turn, would accelerate the electric vehicle charging cables market growth in the coming years. However, the high cost associated with fast electric vehicle charging cables may hamper growth.
Segment
Level 2 Segment to Dominate Backed by Rising Usage in Fast Charging Infrastructure
Based on the charging level, the market is segregated into level 1, level 2, and level 3. The level 2 segment is anticipated to lead in the near future by generating the largest electric vehicle charging cables market share. This growth is attributable to its surging adoption in the fast charging infrastructure.
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This Report Answers the Following Questions:
- What are the current trends driving the sale of electric vehicle charging cables?
- What are the latest developments & innovations done by renowned firms?
- What are the drivers, hindrances, opportunities & challenges in the market?
- Which are the new segments to focus on for prioritizing investments & efforts?
Regional Analysis
Asia Pacific to Lead Stoked by Increasing Usage of Electric Vehicles in China
Geographically, in 2019, Asia Pacific held USD 254.4 million in terms of revenue and would retain its dominant position throughout the forthcoming years. China is likely to be the major contributor to this growth owing to the increasing usage of electric vehicles in this country. Europe, on the other hand, is set to showcase an exponential growth fueled by the implementation of government laws and regulations to reduce emissions. This is compelling people to purchase electric vehicles, thereby augmenting the demand for EV charging cables.
Competitive Landscape
Key Players Focus on Acquisitions & New Product Launches to Cater to High Demand
The global market for electric vehicle charging cables is fragmented with the presence of multiple automakers. They are trying to launch state-of-the-art products for catering to the high demand from people worldwide. Some of the others are engaging in the strategy of merger & acquisition to co-develop new electric vehicle charging cables.
Below are two latest industry developments:
August 2020: Tritium unveiled its RT175-S smart charging system in the U.S. It will be able to power electric vehicles in 15 minutes by charging it to 80% on average.
March 2020: TE Connectivity Ltd. acquired 71.87% shares of First Sensor AG. TE will now be able to deliver a broad product base with the help of the portfolios of both companies.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/electric-vehicle-ev-charging-cables-market-103818
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Electric Vehicle Charging Cables Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Public Charging
- Private Charging
- Market Analysis, Insights and Forecast – By Length
- Below 5 meters
- 6 meters to 10 meters
- Above 10 meters
- Market Analysis, Insights and Forecast – By Charging Level
- Level 1
- Level 2
- Level 3
- Market Analysis, Insights and Forecast – By Power Supply
- Alternative Charging (AC)
- Direct Charging (DC)
- Market Analysis, Insights and Forecast – By Shape
- Straight Cable
- Coiled Cable
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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