EV Charging Cables Market Key Opportunity, Analysis, Growth, Trends 2032

The global EV charging cables market is anticipated to register a phenomenal growth rate of about 27.5% during the forecast period from 2022 to 2032, with an expected valuation of US$ 598.2 Million in 2022 and totaling around US$ 6,791.2 Million by the end of 2032.

There are two types of electric vehicle charging cables: public charging and private charging. The private charging segment is predicted to account for a notable portion of the global EV charging cables market.

Due to the expanding number of private electric vehicles on the road, this segment in particular is expected to dominate the market over the assessment period. The public charging segment is projected to dominate the market over the forecast period, accounting for a boost in the number of commercial charging terminals across regions.

Key Takeaways

• The implementation of electric vehicles is expanding in several countries all over the world with heavy investments in research and development in this sector. Numerous countries including the Netherlands, France, India, and Canada have launched various campaigns in order to encourage the adoption of electric vehicles. Automakers in the automotive sector are given by the state fixed quotas, tax breaks, subsidies, and rebates.
• For purchasing purposes, entitlements are conveniently available for customers. Such considerations have caused a spike in the global production and sales of electric vehicles. In order to ensure the smooth functioning of vehicles, the surging inventory of electric vehicles necessitates the establishment of power grids and charging terminals.
• The major factor driving growth in the EV charging cables market is the development of these vehicles which has resulted in advancements in electric vehicle charging technology and significant investments by automakers in electric vehicles.
• Several organizations develop EV charging cables to make sure quick charging terminals are available for vehicles. Tesla has approximately 1600 supercharging stations available all over the North American region. This propels the development of charging infrastructure, resulting in propelling the global EV charging cable market.

Competitive Landscape

Key EV charging cable providers are rapidly adopting various marketing strategies including new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration in order to increase sales and raise the interest of potential buyers to create a massive customer base and gain a competitive edge in the global EV Charging Cables market.

For more Information : https://www.futuremarketinsights.com/reports/ev-charging-cables-market

Key Segments covered in the EV Charging Cables Industry Survey

By Power Supply:

• AC Charging
• DC Charging

By Product Type:

• Mode 2 Charging Cables
• Mode 3 Charging Cables

By Voltage Capacity:

• 16 Amp
• 32 Amp

By Application:

• Private Charging
• Public Charging

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Safran R.A., Meggitt PLC, General Electric Company, Honeywell International, Inc, and The Raytheon Company are some of the key players in the market.