The EV Charging Cables market report by Nova one advisor provides unique insights into major growth drivers and barriers. The research highlights some of the most common techniques used by industry competitors to acquire a competitive advantage.
According to Nova one advisor, a major research and consulting group, the global EV Charging Cables market will grow at a rate of 40.2 percent per year through 2027 and Demand for EV Charging Cables will reach US$ 430 Million in 2020. It is projected to reach US$ 3,174 Million by 2027. Irrespective of unexpected consequences of the COVID-19 outbreak, businesses operating in the market will continue gaining momentum as investment is gradually recovers across industries. EV charging cables must carry an optimum amount of power to charge the vehicle in the least possible time. High power charging (HPC) cables help electric vehicles cover significantly longer distances with reduced charging time as compared to normal charging cables. Thus, leading manufacturers of EV charging cables have introduced high-power charging cables that can carry current up to 500 amperes. These charging cables and connectors are equipped with a liquid-cooling system to dissipate heat and avoid overheating cables and connectors. In addition, a dedicated controller is used to monitor the temperature and regulate the flow of the coolant. A mixture of water-glycol is widely used as a coolant as it is environment-friendly and easy to maintain
With a significant increase in the adoption of electric vehicles, the demand for DC fast charging cables is expected to rise in the future. Thus, key market players have introduced EV charging cables that take less time to charge the vehicle. New and innovative trends such as EV charging cables with visual monitoring have enhanced safety in the charging process. In April 2019, Leoni AG showcased a special High-Power Charging cable for liquid-cooled charging systems that ensure temperatures in the cable and connector do not exceed a defined level. An optional status-indicating illumination function shows the charging status and condition by changing the color of the cable jacket.
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The market survey provides compelling insights into important drivers that enable growth. It highlights untapped potential in a variety of industries.For the purpose of the study, the market has been segmented in terms of pplication, cable length ,shape ,charging level ,mode, and regions. The report presents an incisive view of various factors impacting growth across these categories. Challenges posing threat also are studied in detail.
Apart from underscoring unexplored prospects, the report is intended to prepare businesses for unforeseen challenges in the future. It covers recommendations to help them navigate their businesses through obstacles to continue reporting growth at a sustainable pace.
COVID-19 Impact on EV Charging Cables Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the EV Charging Cables market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the EV Charging Cables market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Emerging Nations to Continue Attracting Investments
The expansion of various industries across India, China, Brazil, and other emerging countries will help the EV Charging Cables market flourish. Consistent investment towards industrialization and urbanization, as well as the implementation of policies favouring foreign investment, will continue to be major growth drivers.
Expansion initiatives undertaken by various countries will aid the growth of the EV Charging Cables market. Besides, the easy availability of raw materials and labours at a cheaper cost will attract an increasing number of companies within the EV Charging Cables market.
List of key players:
Leoni AG (Germany), TE Connectivity (Switzerland), BESEN Group (China), Aptiv (Ireland), Phoenix Contact (Germany), and Coroplast (Germany).
Market Segmentation:
The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the EV Charging Cables report.
Based on power supply type, the market has been segmented as follows:
- AC charging
- DC charging
Based on application, the market
- Private charging
- Public charging
Based on cable length, the market
- 2-5 meters
- 6-10 meters
- >10 meters
Based on shape, the market
- Straight
- Coiled
Based on charging level, the market
- Level 1
- Level 2
- Level 3
Based on mode, the market
- Mode 1 & 2
- Mode 3
- Mode 4
The regional segmentation covers:
-North America Region (U.S., Canada, Mexico)
-Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
-Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
-South America Region (Brazil, Argentina, Columbia, Rest of South America)
-The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Findings of the EV Charging Cables Market Study
- Backed by the presence of well-established industrial infrastructure and willingness to spend on advanced technologies will strengthen North America’s hold in the global market.
- The Europe market will continue gaining from surging demand in Germany, U.K., Italy, France, and Spain.
- Investment towards industrialization and favourable policies intended at encouraging foreign investment will drive growth in India and China, sealing Asia Pacific’s position as a highly lucrative market for EV Charging Cables.
- In Latin America, the market will gain from surging focus on economic development.
Why Buy this Report?
The purpose of Nova one advisor’s EV Charging Cables market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
Some of the key highlights of the report are:
- EV Charging Cables Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Nova one advisor presents the most precise rate of growth for the market for the assessment period starting from (start year) to (end year).
- EV Charging Cables Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Key Market Segments – To present an exhaustive overview, the global EV Charging Cables market is segmented in terms of application, cable length ,shape ,charging level ,mode, and region. Opportunities existing across each of these categories are reflected on to help businesses realize their true potential.
- Competitive Landscape Analysis – Some of the leading companies operating in the EV Charging Cables market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
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