Dublin, May 24, 2021 (GLOBE NEWSWIRE) -- The "EV Charging Cables Market by Power Supply (AC and DC), Application (Private Charging and Public Charging), Length (2-5 Meters, 6-10 Meters, and >10 Meters), Shape (Straight and Coiled), Mode, Charging Level, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global EV charging cables market is projected to grow at a CAGR of 39.5%, to reach USD 3,173 million by 2027 from an estimated USD 431 million in 2021.
Factors such as the increasing adoption of electric vehicles, the rapid development of electric vehicle supply equipment, and the increasing demand for fast charging cables would drive the growth of the market. On the other hand, the high operational cost associated with high power charging can negatively impact the market.
High power charging cables require high power from the grid, which adds to the cost of production, installation, and components in a charging station.
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.
Mode 1 & 2 segment is estimated to be the largest market during the forecast period.
The mode 1 & 2 segments are expected to lead the market during the forecast period. The majority of the OEMs are providing charging cables with their electric vehicles, and the cost of mode 1 & 2 charging cables is significantly less than mode 2 and mode 3. The mode 4 segment is expected to grow at the highest CAGR during the forecast period due to the increasing demand for DC fast chargers across the world.
Straight cable is expected to dominate the EV charging cables market.
Straight cables are generally used when multiple charging stations are situated within a short distance. As most of the charging stations are equipped with Type 1 (J1772) connectors, straight cables are commonly used for electric vehicle charging. These cables are easy to handle and involve less manufacturing cost as compared to coiled cables. In addition, these cables spread on the ground and, hence, do not suspend weight on either side of the sockets.
>10 meters is expected to be the fastest-growing market during the forecast period.
Growing EV sales and the limited number of charging stations will drive the demand for charging cables to charge multiple vehicles at a single charging station and at the same time. Charging cables with a length above 10 meters have a limited application. These cables are installed if there is the distance between the charging station and the vehicle is long. They can be used in specialized parking lots and for V2G direct operations. Long cables help reduce installation costs and allow the station to be installed closer to the service panel. Asia Pacific is expected to be the largest and fastest-growing market for EV charging cables with a length of above 10 meters due to a rapid increase in the number of electric vehicles
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the EV Charging Cables Market
4.2 EV Charging Cables Market, by Application
4.3 EV Charging Cables Market, by Charging Level
4.4 EV Charging Cables Market, by Power Supply
4.5 EV Charging Cables Market, by Mode
4.6 EV Charging Cables Market, by Shape
4.7 EV Charging Cables Market, by Length
4.8 EV Charging Cables Market, by Region
5 Market Overview
5.2 Market Dynamics
220.127.116.11 Increasing Adoption of Electric Vehicles
18.104.22.168 Reduction in Charging Time
22.214.171.124 Increasing Price of Petrol
126.96.36.199 High Charging Efficiency
188.8.131.52 Development of Wireless EV Charging
184.108.40.206 High Cost of Dc Charging Cables
220.127.116.11 High Initial Investments on EV Fast Charging Infrastructure
18.104.22.168 Technological Advancements for EV Charging Cables
22.214.171.124 Government Initiatives Pertaining EV Charging Infrastructure
126.96.36.199 Development of Home and Community Charging Systems
188.8.131.52 Safety Issues for Various Charging Cables
5.3 Porter's Five Forces
5.4 Electric Vehicle Charging Cables Market Ecosystem
5.5 Value Chain Analysis
5.6 Electric Vehicle Charging Cable Pricing Analysis
5.7 Technology Analysis
5.8 Patent Analysis
5.9 Case Study
5.10 COVID-19 Impact Analysis
5.11 COVID-19 Economic Assessment
5.12 COVID-19 Impact on Automotive Industry
5.13 Oem Announcements
5.14 Impact on EV Charging Cable Production
5.15 Tariff and Regulatory Overview
5.16 EV Charging Cables Market, Scenarios (2021-2027)
6 EV Charging Cables Market, by Application
7 EV Charging Cables Market, by Charging Level
8 EV Charging Cables Market, by Power Supply
9 EV Charging Cables Market, by Cable Length
10 EV Charging Cables Market, by Mode
11 EV Charging Cables Market, by Shape
12 EV Charging Cables Market, by Jacket Material
13 EV Charging Cables Market, by Region
14 Competitive Landscape
15 Company Profiles
15.1 Key Players
15.1.1 Leoni Ag
15.1.2 Aptiv plc.
15.1.3 Besen International Group
15.1.4 Dyden Corporation
15.1.5 TE Connectivity
15.1.6 Brugg Group
15.1.7 Sinbon Electronics
15.1.9 Phoenix Contact
15.1.10 EV Teison
15.1.11 Systems Wire and Cable
15.1.12 Eland Cables
15.2 Other Key Players
15.2.1 General Cable Technologies Corporation (Prysmian Group)
15.2.2 EV Cables Ltd
15.2.3 Manlon Polymers
15.2.4 Chengdu Khons Technology Co., Ltd.
15.2.5 Elkem ASA
15.2.6 Allwyn Cables
15.2.7 Hwatek Wires and Cable Co., Ltd
15.2.8 Shanghai Mida EV Power Co., Ltd.
16 Analyst's Recommendations
16.1 EV Charging Cable Manufacturers Need to Keep Up with Latest EV Charging Technologies
16.2 Asia-Pacific and Level 3 Charging are Key Focus Areas for EV Charging Cable Manufacturers
For more information about this report visit https://www.researchandmarkets.com/r/b58896
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