Rising Gas Prices and Electric Vehicle Adoption Are Fueling Demand

DUBLIN, June 29, 2022 /PRNewswire/ — The “electric vehicle 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 (straight and coiled), Mode, Charge Level, Diameter and Region – Global Forecast to 2027” has been added to the report from ResearchAndMarkets.com offer.

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The global electric vehicle charging cable market is expected to grow at a CAGR of 29.8%, to reach $2,453 million by 2027 based on an estimate $665 million in 2022. Factors such as rapid development of electric vehicle infrastructure, increasing electric vehicle sales globally, and government support for the entire electric vehicle ecosystem are expected to support the growth of the market charging cables for electric vehicles.

Growing concerns about the environment along with rapid improvements in battery and charging technologies have contributed to the growing popularity of electric vehicles. Similarly, improved vehicle range is further supporting the demand for electric vehicles globally. In addition, the faster charging technology has reduced people’s range anxiety.

Previously, electric vehicle batteries took a long time to fully recharge, but Level 3 chargers can now recharge a vehicle in less than an hour and allow the vehicle to travel for over 200 km. Growing demand for zero-emission vehicles is also likely to drive electric vehicle sales, which in turn would increase the need for charging cables.

Mode 1 & 2 segment is estimated to be the largest market during the forecast period
Mode 1 and 2 segments are expected to dominate the market over the forecast period. Mode 1 charging cables refer to household charging from a normal home power outlet with a simple charging cord. This type of charging includes charging an electric vehicle with a standard power outlet. These cables have no DC shock protection and are often used to charge e-bikes. Mode 2 electric vehicle charging cables are currently the most common charging mode for electric vehicles. Mode 2 charging cables can be of different versions. These charging cables are supplied by OEMs with the cars. EV owners can charge electric vehicles from a household outlet. The cost of Mode 1 and Mode 2 charging cables is significantly lower than Mode 2 and Mode 3. However, Mode 4 segment is expected to grow at the highest CAGR during the forecast period owing to the growing demand for DC fast chargers around the world.

DC charging is expected to grow with a higher CAGR during the forecast period
DC charging is the fastest charging method as it can charge a completely discharged vehicle to 80% in less than 15 minutes. However, it is very expensive. DC stations and cables together can cost in the range of $15,000-40,000. In a DC charging system, the AC/DC conversion occurs in the charging equipment instead of the vehicle’s AC/DC converter. Asia Pacific expected to be the fastest growing market for direct charging. The growth of the market in this region can be attributed to the rapid growth in sales volumes of electric vehicles and the increased demand for fast chargers capable of charging an electric vehicle in less than an hour.

Cables under 10mm are expected to remain the largest segment during the forecast period
The sub-10mm segment is expected to dominate the electric vehicle charging cable markets during the forecast period. Cables with a diameter of less than 10 mm are generally used for domestic applications and require AC charging. Electric vehicle charging cables sold with electric vehicles are generally between 4 and 6 mm. Indeed, most electric vehicle manufacturers offer AC charging stations and cables with their vehicles. Cables less than 10mm are the most efficient diameter specification for charging efficiency and ease of storage and handling.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews

5 Market Overview
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased adoption of electric vehicles
5.2.1.2 Government policies and subsidies to support faster installation of electric vehicle charging stations
5.2.1.3 Reducing charging time
5.2.1.4 Fuel Price Increase
5.2.1.5 High charging efficiency
5.2.2 Constraints
5.2.2.1 Development of EV wireless charging
5.2.2.2 High Cost of DC Charging Cables
5.2.2.3 High initial investments in Ev fast charging infrastructure
5.2.3 Opportunities
5.2.3.1 Technological Advancements for EV Charging Cables
5.2.3.2 Government initiatives related to electric vehicle charging infrastructure
5.2.3.3 Development of home and community charging systems
5.2.4 Challenges
5.2.4.1 Safety issues for various charging cables
5.3 Porter’s five forces
5.4 EV Charging Cable Market Ecosystem
5.5 Value chain analysis
5.6 Electric Vehicle Charging Cable Price Analysis
5.7 Technology Analysis
5.8 Patent Analysis
5.9 Analysis of case studies
5.9.1 Aptiv: innovative design weight from high voltage components
5.9.2 Coficab: development of an innovative shielded high-voltage cable optimal for Ev architecture
5.10 Overview of tariffs and regulations

6 EV Charging Cable Market, by Application

7 EV Charging Cable Market, By Charging Tier

8 EV Charging Cable Market, By Supply

9 EV Charging Cable Market, By Length

10 EV Charging Cable Market, By Mode

11 EV Charging Cable Market, By Form

12 EV Charging Cable Market, By Sheath Material

13 EV Charging Cable Market, By Diameter

14 EV Charging Cable Market, By Region

Companies cited

  • Allwyn Cables

  • Aptiva SA

  • Besen International Group

  • Brugg Group

  • Chengdu Khons Technology Co Ltd

  • coroplast

  • Dyden Company

  • Eland Cables

  • Elkem Asa

  • Ev Cables Ltd

  • Ev Teison

  • General Cable Technologies Corporation (Prysmian Group)

  • Wires and Cables Hwatek Co Ltd

  • Leoni AG

  • Manlon Polymers

  • Contact Phoenix

  • Shanghai Mida Ev Power Co Ltd

  • Sinbon Electronics

  • System wires and cables

  • Connectivity

For more information about this report visit https://www.researchandmarkets.com/r/c372jp

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