According to research, EV Charging Cables market is projected to grow with a CAGR of 35% - 40% for the forecast period of 2021-2031.
Demand for this product will be witnessed across all regional markets. Due to a gradual switch of population from oil and gas requiring vehicles to electric vehicles and increasing demand for their charging cables, the market for this product is set to prosper.
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FACTS AT A GLANCE
Companies: Tesla Inc.,Dyden Corporation,Leoni AG,TE Connectivity,BESEN International Group,Aptiv,Phoenix Contact,Chengdu Khons Technology Co. Ltd,Brugg Group,Fujikura Ltd,Coroplast Group
Coverage: All major geographies and key segments
Segments: EV Charging Cables Market Segmented By Power Supply Type such as AC Charging, DC Charging with Application includes Private Charging, Public Charging having Modes as Mode 2 and Mode 3
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
EV charging cables are a basic necessity for people who own electric vehicles. One won’t be able to drive anywhere in an EV without one. Electric vehicles are catching fame and people are ready to adopt the invention. With awareness regarding depleting non-renewable resources, the mass is ready to make a switch from petrol and diesel running vehicles to electric vehicles, marking the onset of green transport revolution.
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As people make this switch, it is estimated by the International Energy Agency (IEA) that by the forecast period, there will be 250 million EV’s on the worlds’ roads. This massive number of electric vehicles being sold will make it as one of the topmost priority of buyers to purchase charging cables as well, in turn rapidly increasing the sales and driving the market of EV charging cables further.
Furthermore, different cables cater to different requirements. Different types of cables charge at different speeds and some have different connectors which enable one to charge their EVs at different locations. Hence, for a variety of purposes, the consumer might need more than one type of cable. This requirement and demand will ensure the growth of the EV charging cables market, in the forecast period.
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