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Electric Vehicle Charging Cable and Plug Market Size

Report ID: GMI11689
Published Date: Oct 2024
Report Format: PDF

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Electric Vehicle Charging Cable and Plug Market Size

The global electric vehicle charging cable and plug market size was valued at USD 1.8 billion in 2023 and is projected to grow at a CAGR of 15.2% between 2024 and 2032. Environmental concerns and government incentives are driving the increasing adoption of electric vehicles (EVs). This surge in EV adoption is amplifying the demand for robust and efficient charging infrastructure.

electric vehicle charging cable and plug market

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As more consumers embrace electric mobility, the need for advanced charging cables and connectors is growing. This demand is particularly pronounced with the rapid expansion of fast-charging networks, improvements in charging speeds, and the widespread installation of charging stations in both residential and public spaces.

Electric Vehicle Charging Cable and Plug Market Report Attributes
Report Attribute	Details
Base Year:	2023
Electric Vehicle Charging Cable and Plug Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	15.2%
2024 – 2032 Value Projection:	USD 6.6 Billion
Historical Data for:	2021-2023
No. of Pages:	252
Tables, Charts & Figures:	180
Segments covered:	Cable, Connectors, Length, Sales Channel, End-user
Growth Drivers:	Rising electric vehicle adoption globally Government incentives for EV infrastructure development Expansion of public fast-charging networks Technological advancements in fast-charging solutions
Pitfalls & Challenges:	High initial costs of charging infrastructure deployment Lack of standardized charging connector compatibility

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Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of electric vehicle charging cable and plug reached USD 1.8 billion in 2023 and is projected to grow at a CAGR of 15.2% between 2024 and 2032, driven by the rising electric vehicle adoption globally.

The AC charging cables segment accounted for over 49% of the market share in 2023 due to the growing demand for smart AC charging solutions equipped with connectivity features.

The distributor sales segment held around 45% of the market share in 2023. Omnichannel distribution strategies are reshaping sales methods, empowering distributors to connect with a wider audience.

The Asia Pacific market held a 39% revenue share in 2023, led by China's aggressive EV adoption policies and substantial investments in charging infrastructure.

Key players in the industry encompass: Aptiv, BESEN International Group, Chengdu Khous Technology Co. Ltd., Coroflex, Dyden Corporation, General Cable (a part of Prysmian Group), Leoni AG, Phoenix Contact, TE Connectivity, and TPC Wire & Cable Corp.