EV CHARGING CABLES MARKET SIZE, TRENDS, APPLICATIONS, AND INDUSTRY STRATEGIES

EV Charging Cables Market Size, Trends, Applications, and Industry Strategies

EV Charging Cables Market Size, Trends, Applications, and Industry Strategies

Blog Article

Market Overview

In 2023, the EV charging cables industry size has been estimated at USD 1,287.3 million, and it is projected to advance at a CAGR of 16.8% over the projection period, to attain USD 3,775.6 million by the end of the decade.

This development of the market can be credited to the increasing utilization of EVs due to the growing count of government initiatives to guarantee their acceptance. Furthermore, the rising pace of technical improvements, which are allowing advanced driving ranges and speeds, is contributing toward the development of the industry.

Cables are being detached from electric cars as this approach offers modularity and lightness because there is no special electronics box to store the cables. In this way, the adapter connects to the cables and the appropriate plug can be selected for the number of available charging outlets EVs can be charged at home with a wall charger or with a regular 120 V electrical outlet.

The factors of the growing use of EVs, the rising number of government policies to reduce carbon emissions, and the rising need for connections needed for efficient charging are some of the factors that are driving the EV Charging Control Module market.

The traditional supply chain management strategies in most urban centers are now lacking in capacity and effectiveness as cities expand their boundaries and the people’s settlement becomes more compact than is sustainable. Furthermore, due to the spurring of same-day delivery services, the distribution centers are shifting towards urban areas. However, there is a continually increasing trend of double-digit growth rates in online retail concerning parcel service providers.

Key Insights


  • The straight cables category leads the industry with a 65% share.



  • The majority of public charging stations utilize straight cables because of low maintenance needs.



  • Straight cables are ideal mainly because they are easy to install and less expensive.



  • Coiled cables are projected to advance during the projection period.



  • Coiled cables aid in preventing tripping risks as they do not lie across surfaces.



  • The cost of coiled cables is lower than that of straight cables, further driving their usage.



  • The private charging category leads the market with a 70% share, as the majority of EVs are charged at owners’ homes utilizing slow-charging variants for overnight charging.



  • Public charging is rising quickly because of the installation of EVSE at places like airports, shopping malls, parking lots, hotels, government offices, highways, and taxi stands.



  • The increasing need for electric vehicles to cover lengthier distances on a single charge, particularly for delivery and public transport, is propelling the acceptance of fast public chargers and high-voltage cables.



  • The AC category grips a larger industry share of approximately 60% because it supplies 120 V power and 22 kW charging speed, with slow AC chargers being extensively utilized in residential and semi-commercial areas credited to their low installation prices.



  • The DC category is projected to advance at a CAGR of 17.0% because of improvements in public charging stations, providing quicker charging times and operational flexibility for fleet owners and long-distance travelers.



  • The APAC region dominates the EV cables industry, estimated to hold a value of approximately USD 1.8 billion by 2030, propelled by increasing per-capita income and key players' existence, with China rising at a CAGR of 17.2% because of government initiatives, subsidies, and improvements in automotive technologies.


Source: P&S Intelligence

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