Dublin, Nov. 26, 2024 (GLOBE NEWSWIRE) -- The "Electric Vehicle Charging Cables - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Electric Vehicle Charging Cables was estimated at US$1.7 Billion in 2023 and is projected to reach US$18.7 Billion by 2030, growing at a CAGR of 40.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The trend toward interoperability and universal charging solutions is another key growth driver, as consumers demand cables compatible with different EV models and connectors. Additionally, innovations in cable materials and cooling technology are making charging cables more efficient and durable, reducing the frequency of replacements and improving overall user experience. These factors are collectively driving robust growth in the EV charging cables market, establishing them as an essential component in the expanding EV infrastructure landscape.
Advancements in materials and cable design are significantly enhancing the durability, efficiency, and performance of EV charging cables. The development of high-quality thermoplastics and elastomers is improving cable flexibility and abrasion resistance, making cables more suitable for harsh outdoor environments and repeated use. These materials offer high resistance to UV radiation, chemicals, and extreme temperatures, extending cable life and improving safety. Additionally, innovations in conductor materials, such as aluminum and copper alloys, are enhancing cable efficiency by reducing electrical resistance and enabling faster power transfer. Cables with higher gauge conductors can support ultra-fast charging, which is increasingly in demand as consumers seek to reduce charging times.
Another area of innovation is in cable cooling technology, with liquid-cooled cables becoming more common in high-power charging systems. These cables use internal cooling to prevent overheating during fast charging, allowing them to carry higher currents without compromising safety. Wireless charging technologies, though still in development, also have the potential to influence charging cable designs, as some wireless systems incorporate small charging cables to enable flexible positioning and power transfer. Together, these advancements are ensuring that EV charging cables meet the performance, safety, and convenience expectations of modern EV owners, supporting the continued growth of the EV market.
What Are the Main Applications of EV Charging Cables?
EV charging cables are used in both public and private charging stations, as well as in portable charging solutions, to support a wide range of charging needs. Public charging stations, especially those with high-power chargers, require durable and heavy-duty cables that can withstand frequent use and exposure to outdoor elements. These stations are often located in high-traffic areas like shopping centers, office complexes, and highways, making cable durability and safety paramount. Private home charging stations use more compact cables, typically designed for Level 1 or Level 2 charging, which are suitable for overnight or extended charging sessions.
Portable charging cables are also gaining popularity, providing EV owners with flexible, on-the-go charging solutions. These cables are compatible with standard household outlets and are particularly useful for drivers in areas with limited charging infrastructure. With the expansion of fast-charging networks and the growth of residential EV ownership, the demand for reliable and versatile charging cables is increasing, making them essential to the daily operations of the EV ecosystem.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Electric Vehicle Charging Cables Market such as Aptiv Plc, BESEN-Group, Burgg Group, Chengdu Khons Technology Co., Ltd., Coroplast and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Alternate Charging (AC) Power Supply segment, which is expected to reach US$9.6 Billion by 2030 with a CAGR of a 35.3%. The Direct Charging (DC) Power Supply segment is also set to grow at 49.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $501.2 Million in 2023, and China, forecasted to grow at an impressive 38.9% CAGR to reach $2.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.7 Billion |
| Forecasted Market Value (USD) by 2030 | $18.7 Billion |
| Compound Annual Growth Rate | 40.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Electric Vehicle Charging Cables - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Adoption of Electric Vehicles Drives Demand for High-Durability, Fast-Charging Electric Vehicle Charging Cables
- Expansion of Charging Infrastructure Propels Market Growth for Heavy-Duty Cables with High Power Capacity
- Advancements in Fast-Charging Technology Drive Demand for Ultra-Fast Charging Cables with Heat Resistance
- Focus on Lightweight and Flexible Cable Design Expands Market for User-Friendly EV Charging Cables
- Increasing Consumer Demand for Home Charging Solutions Strengthens Demand for Portable and Compact Charging Cables
- Growth in Public Charging Stations with High Voltage Requirements Expands Market for Durable, High-Power Cables
- Rising Focus on Safety Standards and Certifications Drives Demand for Fire-Resistant and Overload-Protected Charging Cables
- Development of Interoperable Charging Cables to Support Multiple EV Models Expands Addressable Market
- Emergence of Wireless Charging Options Spurs Innovation in Hybrid and Adaptive Charging Cable Technologies
- Increasing Use of Liquid-Cooled Charging Cables for High-Speed Charging Supports Market for Heat-Dissipating Designs
- Focus on Reducing Carbon Footprint Drives Demand for Environmentally Friendly Materials in EV Charging Cables
- Growing Need for High-Endurance Charging Cables in Harsh Environments Expands Market in Industrial and Commercial Use
FOCUS ON SELECT PLAYERS:Some of the 42 companies featured in this Global Electric Vehicle Charging Cables market report include
- Aptiv Plc
- BESEN-Group
- Burgg Group
- Chengdu Khons Technology Co., Ltd.
- Coroplast
- Dyden Corporation
- Eland Cables
- EV Cables Ltd
- EV Teison
- General Cable Technologies Corporation
- Leoni AG
- Manlon Polymers
- Phoenix Contact
- Sinbon Electronics
- Systems Wire and Cable
- TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/r/3x4chx
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