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Electric Vehicle Charging Cable Market Share
TE Connectivity and Leoni hold a significant market share of over 10% in the EV charging cable industry. TE Connectivity focuses on enhancing its product portfolio by developing advanced EV charging cables that meet emerging industry standards and customer requirements. This includes investing in R&D to create high-performance, durable, and efficient charging solutions suitable for various EV models and charging environments.
Leoni focuses on understanding customer needs to develop customized charging cable solutions. By working closely with car manufacturers and charging infrastructure providers, the company creates products that meet specific requirements and improve customer satisfaction. The company also collaborates with public and private entities to expand charging infrastructure by installing charging stations. This strategy increases the demand for their cables.
Electric Vehicle Charging Cable Market Companies
Major players operating in the EV charging cable industry include:
- Aptiv
- Besen
- Brugg Group
- Coroplast
- Dyden
- Huber Suhner
- Leoni
- Phoenix Contact
- Sinbon Electronics
- TE Connectivity
How big is the electric vehicle charging cable market?
The market size of electric vehicle charging cable reached USD 1.3 billion in 2023 and is set to grow at a 17% CAGR from 2024 to 2032, driven by the rapid rise in EV sales globally.
What was the market share of the private segment in 2023?
In 2023, the private segment held a market share of over 60% and is expected to cross USD 3 billion by 2032, as more homeowners and businesses install private charging stations for convenience and cost savings.
How significant is the Asia Pacific region in the EV charging cable industry?
The Asia Pacific market accounted for 35% of the revenue share in 2023, led by urbanization and population growth in countries like China and India, which are increasing the need for sustainable transportation.
Who are the major players in the EV charging cable market?
The key players in the industry include Aptiv, Besen, Brugg Group, Coroplast, Dyden, Huber Suhner, Leoni, Phoenix Contact, Sinbon Electronics, and TE Connectivity.