Global EV Charging Cables Market Size By Power Supply(AC Charging and DC Charging), By Application(Public Charging and Private Charging), By Cable Length(Below 5 Meters, 6-10 Meters, and >10 Meters), By Shape(Straight Cable and Coiled Cable), By Geographic Scope And Forecast

EV Charging Cables Market Size And Forecast

EV Charging Cables Market size was valued at USD 3,792.09 Million in 2020 and is projected to reach USD 29,720.12 Million by 2028, growing at a CAGR of 31.46% from 2021 to 2028.

The increasing adoption of Electric Vehicles, Government Regulations, and skyrocketing prices of petrol are some of the factors anticipated to foster market growth during the forecast period. The Global EV Charging Cables Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global EV Charging Cables Market Definition

EV charging cables are the type of cables used in charging infrastructure for electric vehicles. These charging cables collect AC power from the wall socket that gets converted to DC power. These charging cables have a liquid-cooling system that distributes heat evenly and reduce the risk of overheating. Due to its ease of maintenance and environmental-friendly features, the water-glycol mixture is the most widely used coolant. Europe decided to use halogen-free materials with the EN 50620 standard. The international IEC 62893 standard also includes halogen-containing insulation materials (due to the influence of Japan and the United States).

The characteristics offered by EV charging cables include media-resistant, abrasion-resistant, hydrolyze-resistant, bending cycles-resistant, thermal stress-resistant, Halogen-free and flame-resistant. The advantages such as fast charging (at charging stations for example in about five minutes for a range of 100 kilometers) allows much longer ranges than before.

It can deliver high charging power up to 500 KW. It transports high charging currents, has small diameter, is highly flexible and lightweight. Therefore, it is easy to handle at the charging station. It also has active liquid cooling as protection (also to save from overheating). There is also a controller present, which is responsible for monitoring the temperature and regulating the coolant flow.

Global EV Charging Cables Market Overview

The increasing adoption of Electric Vehicles as a result of making eco-friendly choices, development of fast charging technology, and rise in prices of petrol are some of the major factors driving the market. The increase in the adoption of electric vehicles has led to an increase in demand for charging infrastructure in public as well as private charging stations. Governments in several counties have started investing in the development of charging infrastructure. Moreover, the development of fast charging technology will demand the use of charging cables that support the fast-charging technology.

With petrol prices going up and everyone worrying about emissions from regular cars, people are really starting to think about Electric Vehicles (EVs). Plus, charging EVs is way better now – a single charge lasts much longer! Governments around the world are also pushing for cleaner vehicles, which should mean we'll see lots more EVs on the road soon. All this points to a growing market. But, and it's a big but, things like developing wireless charging and the high cost of those DC charging cables could slow things down.

Wireless Charging infrastructure would enable charging a stationary or moving vehicle without any wire. The higher cost of DC charging cables and associated side effects are expected to act as another restraint. DC charging cables are expensive and continued usage can deteriorate the battery life, thereby reducing the life of the battery. In addition, coiled wires, because they keep hanging mid-air prone to pulling down the socket to which they are connected. Moreover, the heavy investment required in setting up charging stations can deter the market furthermore. These factors are anticipated to restrain the market.

Global EV Charging Cables MarketSegmentation Analysis

The Global EV Charging Cables Market is segmented based on Power Supply, Application, Cable Length, Shape and Geography.

EV Charging Cables Market, By Power Supply

• AC Charging• DC Charging

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When we look at how electric vehicles get their juice, it really boils down to two main methodsAC Charging and DC Charging. Right now, AC charging is the most popular, grabbing the biggest slice of the market back in 2020. And get this – it's expected to keep growing at a solid pace, around 30.93% each year for the foreseeable future! Think about itthe electricity that comes into our homes and businesses is always AC power. An AC power supply simply takes that alternating current and feeds it to your device. The cool thing is, the power coming in can be either AC or DC to begin with. But often, what comes out of our wall outlets or even stored in batteries isn't exactly what our gadgets need. That's where AC charging shines! Plus, you'll find it mostly in places like your home or smaller commercial spots. In fact, a lot of the charging stations you see around town are probably using AC charging. Typically, these chargers dish out 120 V, giving you a charging speed of about 22 kW, depending on your car and how the charging station is set up.

EV Charging Cables Market, By Application

• Private Charging• Public Charging

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Okay, so when we talk about how everyone's actually using these EV charging cables, the market really boils down to two thingsPublic Charging and Private Charging. Back in 2020, Private Charging was the big dog, and get this, it's projected to keep exploding – we're looking at a 32.05% growth rate! Think of private charging like a bunch of EVs sharing a network behind your main power meter. The catch? You're stuck with whatever power is available on that connection, and that power also has to run everything else in the building. Basically, private charging is anything that's not a public free-for-all. That includes charging setups for your company's cars, the charger in your garage, or even the ones you put in at the office for your staff.

EV Charging Cables Market, By Cable Length

• Below 5 Meters• 6-10 Meters• >10 Meters

So, when it comes to how long your EV charging cable needs to be, we're basically talking Below 5 Meters, 6-10 Meters, and >10 Meters. Turns out, the 6-10 Meters option was the most popular back in 2020, and get this, it's expected to keep growing the fastest, like a whopping 32.96% each year! Yeah, that 6 to 10 meter length? It's predicted to be the top choice for growth between 2021 and 2028. Why? Well, that length – about 18 to 20 feet – just seems to be the sweet spot for charging stations to keep up with what people want, especially as more and more folks switch to electric cars. Oh, and if you're wondering where the action's gonna be, keep an eye on Asia Pacific. They're expected to be the fastest-growing market for those 6-10 meter EV charging cables, thanks to all those new electric vehicles popping up!

EV Charging Cables Market, By Shape

• Straight• Coiled

Okay, so when you're talking about EV charging cables, there are basically two flavorsStraight cables and Coiled cables. And guess what? Straight cables were the rockstars of 2020, totally dominating the market. People expect them to keep growing like crazy, too – we're talking about 30.72% growth every year! What's the deal? Some folks just think straight cables are simpler to use, or maybe they like how they look. Of course, some might find them a little, you know, blah. It's all about personal preference, really! You can find them in all sorts of lengths, like 3, 5, 7.5, and 10 meters. Plus, most public charging spots use them because they're cheap, easy to install, and don't need a ton of fuss.

EV Charging Cables Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Okay, so where are all these EV charging cables flying off the shelves? Globally, we're looking at North America, Europe, Asia Pacific, and everywhere else. But Europe is really leading the charge! They grabbed the biggest piece of the pie back in 2020, and get this – experts are predicting it'll keep growing like crazy, at about 30.21% per year! What's the secret sauce? Simpletons more Europeans are switching to electric vehicles. The European Environment Agency even reported a massive surge in electric car and van registrations in 2020. We’re talking a jump from around 550,000 new electric cars in 2019 to almost 1,325,000 in 2020!

In just one year, the percentage of total new car registrations has risen from 3.5% to 11%. Electric vans have also grown in popularity, rising from 1.4% of new registrations in 2019 to 2.2% in 2020. The bulk of electric vehicle registrations for automobiles and vans in 2020 were battery electric vehicles rather than plug-in hybrids. According to The International Energy Agency (IEA), In Europe, electric car sales increased by about 70% to 2.3 million in 2021, with plug-in hybrids accounting for about half of the total.

Key Players

The “Global EV Charging Cables Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Leoni AG, Aptiv PLC, BESEN International Group, Dyden Corporation, TE Connectivity, Brugg Group, Sinbon Electronics, Coroplast, Phoenix Contact, EV Teison and International Ferro Metals Limited .

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• Aptiv acquired 100% of the equity interests of El-Com, Inc.

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