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Developments of EV Charging Infrastructure Driving Electric Vehicle Charging Cables Market Growth

A number of factors, such as the rise in the deployment of electric vehicles (EVs), technological advancements, surge in the concerns related to air pollution, and development of the EV charging infrastructure, are expected to drive the electric vehicle charging cables market in the foreseeable period (2021–2030). According to P&S Intelligence, the market generated revenue of around $250 million in 2020, which is expected to witness significant growth in the coming years.

In conventional charging stations, cables are the medium through which the electric current enters a vehicle’s charging system. Moreover, key industry players, such as Leoni AG, Chengdu Khons Technology Co. Ltd., Coroplast Group, Aptiv plc, Dyden Corporation, General Cable Technologies Corporation, AMPLY Power, and TE Connectivity Ltd., have been involving in collaborations and partnerships to improve their position.

EV Charging Cables Market Drivers and Growth Rate, Forecast by 2030

For example, in November 2019, AMPLY Power collaborated with BYD Co. Ltd. to develop EV charging stations and provide end-to-end services to the operators of EV fleets, including utility interconnections, operational upgrades, optimal charging approaches on the basis of duty cycle and drive cycle, and funding and debt financing for reducing capital expenses.

One of the major factors boosting the electric vehicle charging cables market is the development of the EV charging infrastructure. With the increasing adoption of EVs, the installation of their charging stations is also rising across the world. Heavy investments are required for the installation of charging stations; therefore, governments are installing them in public places. As per the International Energy Agency (IEA), the number of EV charging points rose by about 44% between 2017 and 2018 across the globe.

This market research report provides a comprehensive overview of the market
  • The Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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