July 15, 2022 08:41 ET | Source: ReportLinker ReportLinker

New York, July 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "EV charging cables Market: Segmented: Power Supply, By Application, By Shape And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031" - https://www.reportlinker.com/p06288776/?utm_source=GNW EV charging cables are the connecting cables that are used to connect the EV charging device and electric vehicles to transmit power. EV charging cables are used by people who own electric vehicles and make it possible to charge electric vehicles within a few minutes and travel long distances. In EV charging cables both ends are fitted with plugs that depend on the electric vehicle’s model and charger type. EV charging cables are mainly used in charging stations, garages, and parking lots. EV charging cables are designed to transfer the amount of power to charge the electric vehicles in the least possible time. Market Highlights The global EV charging cables market is expected to project a notable CAGR of 39.2% in 2031. The adoption of Electric Vehicles is increased due to their easy maintenance and environment-friendly properties. The rapid advancement of electric vehicle supply equipment and increasing adoption of electric vehicles has fueled the rise of the EV charging cable market. Furthermore, rising awareness of the matter of exhausting non-renewable resources is the primary driver of the market. Global EV charging cables market: Segments Alternate Charging segment to grow with the highest CAGR during 2021-31 The global EV charging cables market is classified based on Power Supply into Alternate Charging, Direct Charging. The Alternate Charging cable segment is expected to be the largest market during the forecast period. Alternate Charging is used in residential and semi-commercial charging stations globally. Alternate Charging cable offers lower installation costs and less power output, which proliferates the demand for this segment during the forecast period. Straight cables segment to grow with the highest CAGR during 2021-31 Based on shape, the global EV charging cables Market is fragmented between straight cables and Coiled cables. straight cables are mostly used for electric vehicle charging due to their less manufacturing cost, low maintenance over time, and low cost as compared to coiled cables. In addition, Straight EV charging cables are spread on the ground thus, do not suspend weight on any side of the sockets. Market Dynamics Drivers Rising Adoption of Electric Vehicles One of the market’s primary drivers is a growing awareness of the importance of environmental conservation. The growing demand for electric vehicles is emerging as the major driving factor for the global EV charging cable market. Electric vehicles are becoming increasingly popular due to their impacts on the environment is likely to boost the electric vehicle charging cables market across the globe. The rising popularity of electric vehicles as a source of reducing air pollution and noise pollution has fueled the growth of the EV charging cable industry. Government initiatives and improvement in R&D The EV charging cables Market is also growing as a result of increased consumer and industry awareness of environmental concerns. As the general public becomes more aware of environmental issues, the greater demand for environmentally-friendly electric vehicles will be greater. Furthermore, Government investment to develop charging infrastructure is rising across the globe and is expected to fuel the electric vehicle charging cables market globally. The fast development of electric component manufacturing industries across the globe is likely to further fuel the electric vehicle charging cable market. Other factors driving market growth include increased research and development activities and technological advancements in the manufacture of EV charging cables. Restraint Advancement of wireless EV charging A vehicle can be charged without using wire by using wireless charging technology. Many companies are planning to implement wireless technology in various applications. The important developments in wireless EV charging can impact the growth of the EV charging cables market. Global EV charging cables market: Key Players Tesla, Inc Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis Phoenix Contact Dryden Corporation TE Connectivity Coroplast Leoni AG BESEN International Group TE Connectivity General Cable Technologies Corporation Chengdu Khons Technology Co., Ltd. Manson Polymers Eland Cables Ev Teison Aptiv Plc. Brugg Group  Other Prominent Players Global EV charging cables market: Regions Global EV charging cables market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The Asia Pacific has dominated the industry in recent years with a significant share due to favorable government regulations and subsidies. China is the largest electric vehicle charging cable market. North America has risen to second place in terms of value in recent years, Rise in advanced charging infrastructure installation and due to existence of important EV supply equipment manufacturers in the region are likely to drive the regional market. Impact of Covid-19 on EV charging cables Market The COVID-19 pandemic due to the lockdowns has hurt the global market for electric vehicle charging cables. Many automotive corporations have stopped production due to various restrictions imposed by governments. Automotive industry sales around the globe are facing a slowdown. Global EV charging cables are further segmented by region into: North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA Global EV charging cables report also contains analysis on: EV charging cables Segments: Power Supply  Alternate Charging Direct Charging By Application   Private Charging Public Charging By Shape  Straight Coiled EV charging cables Dynamics EV charging cables Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies Involved in the Market Value Chain of the Market Market Drivers and Restraints EV charging cables Market Report Scope and Segmentation Report Attribute Details The market size value in 2021 USD 409.8 million The revenue forecast in 2031 USD 11,087 million Growth Rate CAGR of 39.2% from 2021 to 2031 The base year for estimation 2020 Quantitative units Revenue in USD million and CAGR from 2021 to 2030 Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends Segments covered Type, Application, and Region Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) Key companies profiled Tesla, Inc., Phoenix Contact, Dryden Corporation, TE Connectivity, Coroplast, Leoni AG, BESEN International Group, TE Connectivity, General Cable Technologies Corporation, Chengdu Khons Technology Co., Ltd., Manson Polymers, Eland Cables, EV TEISON, Aptiv Plc., Brugg Group are and Other Prominent Players Read the full report: https://www.reportlinker.com/p06288776/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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