According to a new market report published by Lucintel, the future of the global EV charging cable market looks promising with opportunities in the alternate charging (AC) and direct charging (DC) segments. The global EV charging cable market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow 29% from 2021 to 2026. The major drivers for this market are increasing adoption of electric vehicles, high demand for fast charging cables, advancements in charging technology, and reduction in charging time.
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In this market, Level 1, Level 2, and Level 3 are the major charging levels used to charge electric vehicles. On the basis of comprehensive research, Lucintel forecasts that level 3 will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because of their high power charging option in a small duration of time.
Within the global EV charging cable market, the below 5 meter segment is expected to witness the highest growth over the forecast period because below 5 meter cables are more efficient for use in residential applications and offer ease of storage and use.
APAC is expected to remain the largest market and witness the highest growth rate over the forecast period due to a high number of EV charging stations in the region. The Japanese and Chinese governments have adopted various policies and initiatives to encourage major market players to manufacture EV charging infrastructure in domestic markets.
Leoni AG, TE Connectivity, Aptiv, BESEN-Group Coroplast, Dyden Corporation, and PHOENIX CONTACT are among the major suppliers of EV charging cables.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global EV charging cable market by application, power supply, cable length, charging level, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global EV Charging Cable Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global EV charging cable market by application, power supply, cable length, charging level, and region as follows:
By Power Supply Type [Value ($ Million) from 2015 to 2026]:
By Cable Length [Value ($ Million) from 2015 to 2026]:
Below 5 Meters
6 Meters to 10 Meters
Above 10 Meters
By Charging Level [Value ($ Million) from 2015 to 2026]:
By Application [Value ($ Million) from 2015 to 2026]:
Private Charging
Public Charging
By Region [Value ($ Million) from 2015 to 2026]:
North America
Europe
France
Germany
United Kingdom
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
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