Electric Vehicle (EV) Charging Cable Market Size - By Cable, By Power, By Cable Length, By Shape, By Charging Level, By Application, By Jacket Material, By Connector, By Diameter and By Mode, Growth Forecast 2024 – 2032

Electric Vehicle Charging Cable Market Size

The global electric vehicle charging cable market size was valued at USD 1.3 billion in 2023 and is estimated to register a CAGR of 17% between 2024 and 2032. The rapid rise in EV sales globally is boosting the demand for charging infrastructure, especially cables that can handle various power requirements.
 

According to Statista, EV sales exceeded 10.2 million in 2022 and are expected to cross 17 million vehicles by 2028. As more consumers and businesses switch to EVs for lower fuel costs and environmental benefits, the need for home and public charging solutions is growing. This shift is driving demand for high-quality cables that support both regular and fast charging, catering to the various requirements of different EV models.
 

The installation of public charging stations in urban areas, highways, and workplaces has increased in recent years. This expansion is driven by government mandates, private investment, and consumer demand for convenient charging locations. For instance, in September 2024, the Government of India introduced new guidelines for installation and operation of EV charging stations. These guidelines feature a revenue-sharing model between the government and private companies to promote electric vehicle (EV) adoption and expand charging infrastructure.
 

Issued by the Ministry of Power, the guidelines cover various EV charging locations, including private parking spaces, office buildings, schools, hospitals, and housing societies with goal is to make installing public charging stations more financially appealing.  Public chargers, especially those for Level 2 and Level 3 fast charging, need strong, high-quality cables that can handle frequent use and different weather conditions. This need is driving demand for cable manufacturers to provide durable and efficient charging solutions.
 

Electric Vehicle Charging Cable Market Trends

The increasing demand for rapid charging solutions is a major trend in the market. For instance, in September 2024, Tata Power EV Charging Solutions Limited, an EV Charging solutions providers signed a MoU with Tata Motors, a commercial vehicle manufacturer, to set up 200 fast-charging stations for electric commercial vehicles in major cities across India including Mumbai, Delhi, Chennai, Bengaluru, Kolkata. This move strengthens their partnership in providing sustainable mobility and easy charging solutions for small electric commercial vehicles.
 

This growing demand and expansion of fast charging solutions is driving research into high-capacity charging cables that can handle high currents and reduce charging times. These cables feature advanced insulation, thermal management, and enhanced conductivity materials. These innovations reduce charging time from hours to minutes, an appealing advantage for consumers, fleet operators, and charging station operators, driving demand for advanced charging cable solutions.
 

Companies operating in the market are forming strategic partnerships to launch smart EV charging cable for residential customers. For instance, in October 2022, ev.energy, a provider of EV charging software, has partnered with Smartenit, a IoT solutions manufacturer, to launch a low-cost, smart EV charging cable that offers affordable, grid-optimized, at-home charging to EV drivers, especially those living in apartments or multi-unit dwellings without dedicated charging stations.
 

The EV industry currently lacks universal standards for charging connectors and protocols, causing compatibility issues between different EV models and charging stations. For cable manufacturers, this lack of standardization makes design and production more complex, as they need to produce multiple cable types to meet different standards. This fragmentation can lead to inefficiencies in the supply chain and problems for consumers when using public charging networks.
 

Electric Vehicle Charging Cable Market Analysis

Based on application, the market is divided into private and public. In 2023, the private segment held a market share of over 60% is expected to cross USD 3 billion by 2032. As more people adopt EVs, homeowners and businesses are increasingly installing private charging stations for easy access. This trend is driven by the need to cut fuel costs, lower emissions, and conveniently charge vehicles overnight or during business hours.
 

These private charging setups often require specific charging cables, especially Level 2 chargers, which offer a good balance of efficiency and cost. The rise in residential and commercial EV charging installations is boosting the demand for reliable and user-friendly charging cables that can handle regular use.
 

Based on shape, the electric vehicle charging cable market is categorized into straight and coiled. The straight cable segment held a market share of around 71% in 2023. Straight cables offer easy and quick connections, making them ideal for public charging stations and home use. Their plug-and-play design saves time and effort, appealing to users seeking hassle-free charging.
 

As demand for user-friendly solutions grows, manufacturers are focusing on straight cable designs, driving market growth. These cables are versatile, suitable for homes, workplaces, and public stations, and compatible with various EV models and charging. This versatility boosts sales by reducing the need for multiple cable types. The market's evolution continues to increase demand for multifunctional straight cables, encouraging ongoing innovation.
 

Asia Pacific EV charging cable market accounted for 35% of the revenue share in 2023. Urbanization and population growth in the Asia Pacific region are increasing the need for sustainable transportation. Countries such as China and India are witnessing more EVs as part of their urban mobility plans. This trend requires more charging infrastructure, which boosts the demand for EV charging cables.
 

Also, the Chinese government supports EV adoption and charging infrastructure with subsidies, tax incentives, and funding for charging stations in both urban and rural areas. This support increases the availability of charging facilities, which in turn raises the demand for EV charging cables. The government's commitment to improving the EV ecosystem is a key factor in creating a strong market for charging solutions.
 

Europe is leading in implementing strict environmental regulations to reduce carbon emissions and promote sustainable transportation. The European Union's Green Deal and various national initiatives aim to phase out internal combustion engine vehicles, encouraging consumers to switch to electric vehicles. This regulatory framework promotes investment in charging infrastructure, increasing the demand for EV charging cables. As countries work towards ambitious climate goals, the market for charging solutions, including cables, is expected to grow significantly.
 

In North America, especially in the U.S., federal and state incentives are encouraging the adoption of electric vehicles (EVs) and the development of charging infrastructure. Programs such as tax credits, rebates for purchasing EVs, and grants for installing charging stations are boosting consumer interest in EVs and related equipment, including charging cables. As the charging infrastructure expands, the demand for reliable, high-quality EV charging cables will increase, creating a favorable market environment.
 

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
   

Electric Vehicle Charging Cable Industry News

• In September 2024, Charge Gully launched a large-scale trial of its at-home EV charging solution across four UK Local Authorities. This initiative aims to make EV charging accessible and affordable for those without driveways. Over 60 Charge Gully units will be installed on public pavements nationwide, following successful installations since summer 2023. Their innovative solution features a self-closing and lockable cable duct that allows the EV charging cable to safely cross the pavement.
   
• In March 2024, FLO, an EV charging station manufacturer and network operator launched its new motorized cable management system, EZLift. The system is offered on the company’s new FLO Ultra-fast charger and is designed to reduce stress on drivers by automating extension and retraction of cables that can weigh more than 25 pounds.
   

The electric vehicle (EV) charging cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) and volume (Units) from 2021 to 2032, for the following segments:

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Market, By Cable

• Normal
• High power
• Liquid-cooled high-power

Market, By Power

• AC charging
• DC charging

Market, By Cable Length

• Below 5 meters
• 6-10 meter
• Above 10 meters

Market, By Shape

• Straight
• Coiled

Market, By Charging Level

• Level 1
• Level 2
• Level 3

Market, By Application

• Public
• Private

Market, By Jacket Material

• All Rubber
• Thermoplastic Elastomer (TPE)
• Polyvinyl Chloride (PVC)

Market, By Connector

• Type 1
• Type 2
• CCS1
• CCS2
• CHAdeMO
• GB/T
• NACS/TESLA Connectors

Market, By Diameter

• 10 mm
• 10–20 mm
• >20 mm

Market, By Mode

• Mode 1 & 2
• Mode 3
• Mode 4

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• MEA
  • UAE
  • South Africa
  • Saudi Arabia