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Electric Vehicle Charging Cables Market To Demonstrate Massive Growth With A CAGR of 25.4% By 2027 | Grand View Research, Inc.

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Electric Vehicle Charging Cables Market To Demonstrate Massive Growth With A CAGR of 25.4% By 2027 | Grand View Research, Inc.

April 30
02:35 2021
Electric Vehicle Charging Cables Market To Demonstrate Massive Growth With A CAGR of 25.4% By 2027 | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, the global electric vehicle charging cables market is expected to expand due to the increasing acceptance of electric vehicles (EV), rising demand for electric vehicle fast-charging cables, and rapid production of electric vehicle supply equipment. In addition, the COVID-19 pandemic has had a significant impact on the market owing to supply chain disruption.

The global electric vehicle charging cables market size is expected to reach USD 1.25 billion by 2027, expanding at a CAGR of 25.4% from 2020 to 2027. The market is expected to be driven by the rising large-scale adoption of electric vehicles (EV), rising demand for quick charging cables, and rapid growth of EV supply equipment around the world. Governments across the world are taking various steps to minimize greenhouse gas emissions, encouraging the use of electric cars, coupled with building new EV charging stations at a rapid pace.

Breakthroughs in the electric vehicle charging technology, such as robotic charging, improved socioeconomic standards, and improved charging facilities, are projected to raise the demand for battery-electric cars, resulting in increased usage of EV charging stations. The recovery from the COVID-19 pandemic is expected to boost the market demand. Following that, an increase in the electric vehicle supply will necessitate further charging facilities, which is expected to boost the demand for electric vehicle charging cables in the coming years. 

Electric Vehicle Charging Cables Market Report Highlights

 On the basis of power supply, the AC segment accounted for a market share of 73.3% in 2019. Depending on the car and charging infrastructure requirements, alternate charging provides a 120 V with a charging speed of 22 kW. The AC power supply is mainly found in semi-commercial and residential stations across the world.

The DC segment is anticipated to exhibit the highest CAGR of 28.0% during the forecast period owing to several advancements in public stations.

On the basis of cable length, the below 5-meter cable length segment led the market in 2019 with a market share of over 53.0% and is expected to maintain its dominance over the forecast period owing to the global adoption of private electric car charging stations.

Based on the charging level, the Level 2 segment dominated the market in 2019 and is projected to witness significant growth during the forecast period.

The public charging station is anticipated to be the fastest-growing application segment over the forecast period. These charging stations have the capability to charge an electric vehicle in less time with high voltage.

In May 2020, Phoenix Contact received the Good Design award 2019 for its AC charging cables for electric vehicles and charging stations for their sophisticated design.

Get Sample Copy of This Report @ https://www.grandviewresearch.com/industry-analysis/electric-vehicle-charging-cables-market/request/rs1

Electric Vehicle Charging Cables Market Segmentation

Grand View Research has segmented the global EV charging cables market based on power supply, cable length, charging level, shape, application, and region:

Electric Vehicle Charging Cables Power Supply Outlook (Revenue, USD Million, 2016 – 2027)

     Alternate Charging (AC)
     Direct Charging (DC)

Electric Vehicle Charging Cables Length Outlook (Revenue, USD Million, 2016 – 2027)

     Below 5 meters
    • 6 meters to 10 meters
    • Above 10 meters

Electric Vehicle Charging Cables Charging Level Outlook (Revenue, USD Million, 2016 – 2027)

     Level 1
     Level 2
     Level 3

Electric Vehicle Charging Cables Shape Outlook (Revenue, USD Million, 2016 – 2027)

     Straight Cable
     Coiled Cable

Electric Vehicle Charging Cables Application Outlook (Revenue, USD Million, 2016 – 2027)

     Private Charging
     Public Charging

Electric Vehicle Charging Cables Regional Outlook (Revenue, USD Million, 2016 – 2027)

     North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
        • Netherlands
        • Norway
        • France
    • Asia Pacific
        • China
        • South Korea
        • Japan

List of Key Players of Electric Vehicle Charging Cables Market

     Leoni AG
    • Coroplast
     Chengdu Khons Technology Co., Ltd.
     Phoenix Contact
    • Aptiv
     BESEN-Group
     General Cable Technologies Corporation
    • TE Connectivity
    • Dyden Corporation

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/7118/ibb

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About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/electric-vehicle-charging-cables-market


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