Global EV Charging Cable Market Analysis Report 2023-2030 - CCS1 Connector Demand to Get Impacted by Phase Off of CHAdeMO Connectors
DUBLIN, Oct. 4, 2023 /PRNewswire/ -- The "Global EV Charging Cable Market by Power Supply (AC and DC), Application (Private Charging and Public Charging), Length (2-5 Meters, 6-10 Meters, and >10 Meters), Shape, Mode, Charging Level, Connector Type, Cable Type, Diameter & Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global EV charging cable market is projected to grow from USD 1.3 billion in 2023 to USD 3.9 billion by 2030, registering a CAGR of 16.7%
The report offers valuable insights for market leaders and newcomers alike by providing revenue estimates for both the overall authentication and brand protection market and its subsegments.
Stakeholders can leverage this report to gain a competitive edge, refine their business strategies, and comprehend the market's dynamics, including key drivers, challenges, restraints, and opportunities.
The growing global trend toward eco-friendly transportation is driving the demand for innovative EV charging solutions. Government incentives and investments in clean energy infrastructure are laying the groundwork for widespread EV adoption.
Additionally, groundbreaking technological advancements such as wireless charging, fast-charging solutions, and enhanced safety features are reshaping the industry, making electric mobility more accessible and convenient for consumers. In this transformative landscape, the EV charging cable market is well-positioned for continuous and robust growth.
The EV charging cable market is currently dominated by established players, including Leoni AG (Germany), Aptiv (Ireland), TE Connectivity (Switzerland), BESEN International Group (China), Dyden Corporation (Japan), and others. These industry leaders operate on a global scale and have formed strategic partnerships to deliver top-tier products to their clientele.
CCS1 connector demand to get impacted by phase off of CHAdeMO connectors during the forecast period
The CCS1 standard is anticipated to experience swift expansion, driven by its ongoing prevalence among electric vehicles excluding Tesla and the charging networks operating throughout North America. Due to its strong presence in the US and Canada, CCS1 guarantees smooth compatibility and interoperability, factors that contribute to its forecasted rise as the most rapidly growing category within the electric vehicle charging connector market.
The CCS 1 connector, also known as the CCS Combo 1 or SAE J1772 Combo connector, is a significant advancement in electric vehicle charging technology. Serving as the standard for DC fast charging in North America and South Korea, CCS 1 can handle up to 500 amps and 1000 volts DC, resulting in an impressive maximum power output of 360 kW.
The CCS 1 plug has become the norm for a majority of EVs in North America, with Japanese manufacturers like Nissan transitioning from CHAdeMO to CCS 1 for their new models for the region. Notably, Tesla maintains its proprietary charging standard for North American vehicles.
DC charging cable to be the fastest growing segment during the forecast period
Anticipate significant growth in the DC charging cable segment, driven by the rising demand for fast and ultra-fast charging capabilities. With electric vehicles becoming increasingly prevalent, there's a heightened need for swift and convenient charging solutions, especially high-powered DC charging infrastructure.
This shift is primarily fueled by the growing instances of long-distance travel and the desire to minimize charging downtime. Consequently, the DC charging segment is poised to witness substantial advancements in power supply technology, further accelerating its growth trajectory.
Key players involved in the development of DC charging stations, such as Tesla, ChargePoint, ABB, Schneider Electric, Shell, among others, are expected to experience robust market growth in response to the surging demand for electric vehicles.
DC superchargers, commonly found at public charging stations and highways, offer convenient and rapid charging options for electric vehicle owners on the move. These chargers function by converting AC power from the grid into DC power, which is then stored in the vehicle's battery. They are designed to be compatible with various electric vehicle models and are increasingly prevalent as more drivers transition to electric vehicles as their primary mode of transportation.
Premium Insights
- Growing EV Adoption and Rapid EV Charging Station Deployment to Drive Market
- Public Segment to Grow at Higher CAGR During Forecast Period
- Level 1 to be Largest Segment During Forecast Period
- Dc Segment to Register Higher CAGR During Forecast Period
- Mode 1 & 2 Segment to Lead Market During Forecast Period
- Coiled Segment to Register Faster Growth During Forecast Period
- 2-5 Meters Segment to Lead Market During Forecast Period
- Less Than 20 Mm Segment to Register Highest CAGR During Forecast Period
- EV Charging Cables with Gb/T Connector Compatibility to be Largest Segment During Forecast Period
- Normal Charging Cable to be Largest Cable Type During Forecast Period
- Asia-Pacific to Register Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Rapidly Growing EV Sales
- Government Subsidies for Installation of EV Charging Stations
- Advancements in EV Charging Technologies to Reduce Charging Time
- Rising Prices of Gasoline
- High Charging Efficiency of Wired EV Chargers
Restraints
- Emergence of Wireless EV Charging
- High Initial Investments in EV Fast-Charging Systems
Opportunities
- Development of Advanced Cables
- Rapid Integration of Megawatt Charging Systems
Challenges
- Safety Issues Related to Charging Cables
- Implications of Mechanical and Corrosive Damages
Ecosystem Mapping
- Oems
- Tier I Suppliers
- Software Providers
- EV Charging Providers
- Battery Manufacturers
Technology Analysis
- Liquid-Cooled EV Charging Cables
- Open Charge Point Protocol
- V2X Chargers
- Bidirectional Chargers
- Smart EV Charging Systems
- Handsfree EV Charging
Case Study Analysis
- Weight Reduction for High-Voltage Components
- Dc Fast Chargers to Support Expansion of Ride-Hailing Fleet
- Oxgul-E Project - Innovative On-Street EV Charging Solution
- Ultra-Fast High-Power Charging with 3M's Liquid Cooling Technology
- Doncaster Cables - Certificate of Assessed Design for Ev-Ultra
Company Profiles
Key Players
- Leoni Ag
- Aptiv plc
- Besen International Group
- Dyden Corporation
- Te Connectivity
- Brugg Group
- Sinbon Electronics
- Coroplast
- Huber+Suhner
- Phoenix Contact
- Teison Energy Technology Co., Ltd.
- Systems Wire and Cable
- Eland Cables
Other Players
- General Cable Technologies Corporation (Prysmian Group)
- EV Cables Ltd.
- Manlon Polymers
- Chengdu Khons Technology Co., Ltd.
- Elkem Asa
- Allwyn Cables
- Hwatek Wires and Cable Co., Ltd.
- Shanghai Mida EV Power Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/uddl8v
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