According to the recent study the electric vehicle (EV) charging cable market is projected to grow at a CAGR of 28%-30% from 2020 to 2026. Growth in this market is primarily driven by increasing adoption of electric vehicles, high demand for fast charging cables, advancements in charging technology and reduction in charging time.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in electric vehicle (EV) charging cable market by application (private charging, and public charging), power supply (AC charging, and DC charging), cable length (below 5 meters, 6 meters to 10 meters, and above 10 meters) and charging level (level 1, level 2, and level 3), and region (North America, Europe, Asia Pacific, and the Rest of the World.
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“Level 3market is expected to remain the largest segment during the forecast period.”
Based on charging level, the electric vehicle (EV) charging cable market is segmented into level 1, level 2, and level 3. Lucintel forecasts that the level 1 is expected to witness 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 electric vehicle (EV) charging cable market, the below 5 meters segment is expected to remain the largest cable length.”
Based on cable length, the below 5 meters segment is expected to witness the witness the highest growth over the forecast period because below 5 meters cables are more efficient for use in residential applications and offer ease of storage and use.
“Asia Pacific will dominate the electric vehicle (EV) charging cable market in near future.”
Asia Pacific are expected to be the largest region and witness the highest growth rate over the forecast period due to 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. Thus APAC region is projected to uplift the regional market growth over the forecast period.
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Major players of electric vehicle (EV) charging cable market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Leoni AG, TE Connectivity, Aptiv, BESEN-Group Coroplast, Dyden Corporation, and PHOENIX CONTACT are among the major electric vehicle (EV) charging cable providers.
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