The global electric vehicle charging cables market is anticipated to grow from USD 428 million in 2021 to USD 3,156 million by 2027, registering a CAGR of 39.4% during the forecast period 2021-2027. The electric vehicle charging cable is connected with control lines, signal lines, and auxiliary lines which supply power and ensure the secured operation and accurate control of the whole charging process.

Factors attributing to the growth of the EV charging cable market includes the initiatives by the government for adoption of electric vehicles and associated infrastructure, increasing demand for electric vehicle quick-charging infrastructure, the rising prominence of range anxiety, and surging deployment of EVs by shared mobility operators. Furthermore, the rising demand for vehicle electrification globally owing to mandatory emission norms will reduce the emission of harmful gases and boost the growth of the EV charging cables market. According to IEA, there will be 250 million electric vehicles on the road by 2030 which results in the need to purchase charging cables, resulting in the growth of the market.

Download Free Sample Copy Of Research Report: https://www.vynzresearch.com/automotive-transportation/electric-vehicle-ev-charging-cable-market/request-sample

Asia-Pacific dominates the EV charging cables market as China is the major revenue contributor and is providing initiatives to attract major OEMs to manufacture electric vehicle charging infrastructure in the regional markets. Moreover, the rising number of EV charging stations will fuel the growth of the EV charging cables market in the region.

Aptiv is one of the leading players in the EV charging cables market and has an extensive electrification portfolio that includes high-voltage electrical connectors, shielded HV cables, busbar assemblies, charging cord sets and inlets, and solid-state electrical centers. Thus, providing automotive-grade industrialization, software development, and system integration.

In October 2021, TE Connectivity has launched 3 novel products for the hybrid and electric commercial transportation market. The novel IPT-HD power bolt connector accomplishes temperatures ranging from -40 to +125 degrees Celsius and has a low-contact-resistance design which can withstand excessively high engine-level vibrations.

Some of the key players operating in the EV charging cables market: Aptiv, LEONI, TE Connectivity, BESEN-Group, PHOENIX CONTACT, Coroplast, DYDEN CORPORATION, Grupo General Cable Sistemas, Chengdu Khons Technology Co., Ltd., and Tesla.

Source: VynZ Research