New York, USA, Oct. 08, 2020 (GLOBE NEWSWIRE) -- As per a Research Dive latest report, the Global EV Charging Cable Market is expected to grow at a CAGR of 31.5% and generate a revenue of $1,277.7 million during the forecast period from 2019 to 2026. The North America EV charging cable market is projected to grow exponentially throughout the forecast period majorly owing to the rise in adoption of electric vehicles (EVs) in the region.
Market Dynamics
The increase in acceptance of electric vehicles across the globe coupled with the swift growth in the EV charger’s equipment development are the significant factors predicted to boost the growth of the global EV charging cable market in the forecast period. In addition, the rising demand for fast charging cables is another factor projected to propel the market growth by 2026. Conversely, the fast power charging cables require huge power and thus have high production costs and high operative costs, which is expected to hamper the global market growth in the estimated timeframe.
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Key Segment Takeaways of the Market:
The report segments the global EV charging cable market into Power Supply Type, Shape, Cable Length, Charging Level, Application, Jacket Material, and Region.
• By power supply type, the alternate charging segment is estimated to grow at a CAGR of 33.2% by 2026 due to the swift growth in the favorites of consumers for installing EV charging stations.
• By cable length, the 2 to 5 meters segment is expected to observe a lucrative growth throughout the forecast, owing to the increasing adoption of private EV charging stations around the world.
• By shape, the straight cable segment valued with highest market share in 2018 with $88.6 million and is projected to hold a significant share by 2026. This growth is attributed to the ease of maintenance and beneficial properties such as instant contraction.
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• By charging level, the level 1 segment is predicted to hold a largest share in the global market by 2026, owing to the rising demand for the fast charging all around the world.
• By jacket material, the polyvinyl chloride segment is predicted to grow at significant rate in the forecast period due to the beneficial properties of these materials.
• By application, the public charging segment is expected to reach up to $531.5 million by 2026, owing to a surge in the installations of EV charging stations in number of localities such as government offices, taxi stands, and other public areas.
• Geographically, the overall industry is divided into Asia Pacific, North America, LAMEA, and Europe. The Asia Pacific region is expected to grow at a CAGR of 31.1% in the global market by 2026.
Major Market Players
1. General Cable Technologies Corporation
2. EV TEISON
3. PHOENIX CONTACT
4. SINBON Electronics Co. Ltd.
5. TE Connectivity
6. BASEN- Group
7. BRUGG GROUP AG
8. Leoni AG
9. IONITY GmbH
10. Aptiv
11. DYDEN CORPORATION.
Further, the report outlines several aspects of all these industry players such as SWOT analysis, recent strategic moves & developments, financial performance, and product portfolio. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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