At 38.5% CAGR,Global EV Charging Cable Market to Surpass US$ 3.2 Bn By 2028,Forecast Report By Facts and Factors
The global EV charging cable market was worth USD 0.45 Billion in 2021 and is projected to reach USD 3.2 Billion by 2028, growing at 38.5% CAGR. The paper examines EV charging cable market drivers, limitations, and difficulties and how they affect demand during the forecast period. The paper also examines EV charging cable market opportunities.
Market Overview
Electronic vehicle infrastructure uses EV charging wires. Electric car adoption for environmental reasons drives the global EV charging cable market. These wires convert AC electricity from the plug socket to DC power for the car. Liquid-cooling technology in these charging cables prevents overheating. Water-glycol combinations are the most popular coolants due to their low maintenance and environmental friendliness.
A controller monitors temperature and coolant flow. Technology has improved charging speeds and capacity. EV charging cables carry the most electricity to charge the vehicle quickly. Soon, DC and coiled charging cords will be popular.
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Growth Drivers
Many nations are spending much in electric car research and development. France, the Netherlands, India, and Canada have launched several electric vehicle adoption programmes. Automakers receive government subsidies, quotas, refunds, and tax benefits. Consumers value electric car subsidies. These factors increased electric vehicle production and distribution worldwide.
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Coroplast, DYDEN CORPORATION, Manlon Polymers,TE Connectivity,Eland Cables, Tesla.
The global EV charging cable market is segmented as follows:
By Usage Segment Analysis
- Private
- Public
By Dimension Segment Analysis
- >10m
- 6m-10m
- <5m
By Charging Level Segment Analysis
- Level-1
- Level-2
- Level-3
By Form Segment Analysis
- Coiled
- Straight
By Power Distribution Segment Analysis
- Direct Charging
- Alternate charging
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Regional Insight by FnF Research
Europe is expected to account for a significant portion of the global EV charging cable market due to an increase in demand for electric vehicles throughout the area. The massive expansion of electric car component manufacturers throughout the area is also driving the EV charging cable market. The availability of various automakers as well as top-tier suppliers in Europe, such as Phoenix Contact, and Leoni AG who have necessary facilities that conduct research and development on the EV charging cable, is anticipated to accelerate the EV charging cable market across Europe.
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