AC EV Charging Cable Trends and Forecast
The future of the global AC EV charging cable market looks promising with opportunities in the passenger car and commercial vehicle markets. The global AC EV charging cable market is expected to grow with a CAGR of 16.2% from 2024 to 2030. The major drivers for this market are increasing adoption of electric vehicles and growing focus on renewable energy and sustainability in transportation.
• Lucintel forecasts that 3-phase AC charging cable is expected to witness the higher growth over the forecast period.
• Within this market, passenger car is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: In the United States, the AC EV Charging Cable Market has seen significant developments with companies like Tesla and ChargePoint announcing initiatives to expand their network of charging stations and introduce advanced charging cable technologies. Initiatives include investments in fast-charging infrastructure and the development of smart charging solutions to enhance user experience. Company announcements reveal targets to increase the accessibility and reliability of EV charging across the country.
India: In India, automotive manufacturers such as Tata Motors and Mahindra Electric are collaborating with government agencies to promote the adoption of EVs and develop indigenous charging solutions. Initiatives include the rollout of AC EV charging stations in major cities and the launch of affordable charging cable options for residential and commercial use. Company announcements reveal targets to increase EV penetration and address range anxiety concerns among consumers.
China: In China, companies like BYD and NIO have announced partnerships with local governments to deploy AC EV charging infrastructure in urban areas and along highways. Initiatives include the development of standardized charging cable protocols and the establishment of interoperable charging networks to promote EV adoption.
Germany: In Germany, companies like Siemens and ABB are leading the development of AC EV charging infrastructure, with initiatives focusing on interoperability and grid integration. Initiatives include the deployment of smart charging systems and the implementation of vehicle-to-grid (V2G) technology to support grid stability. Company announcements reveal targets to establish a comprehensive charging infrastructure network to facilitate long-distance travel and urban mobility.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AC EV Charging Cable by Segment
The study includes a forecast for the global AC EV charging cable by type, application, and region.
AC EV Charging Cable Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• 1-Phase AC charging Cable
• 3-Phase AC charging Cable
AC EV Charging Cable Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Passenger Car
• Commercial Vehicle
• Others
AC EV Charging Cable Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AC EV Charging Cable Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AC EV charging cable companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AC EV charging cable companies profiled in this report include-
• Acome
• Eland Cables
• OMG EV Cable
• Aptiv
• Weidmüller
• TE Connectivity
• Leoni
Recent Development in the AC EV Charging Cable Market
Tesla: Tesla announced the launch of its next-generation AC EV charging cable with improved durability and charging efficiency. This initiative aims to enhance the user experience for Tesla owners and support the companyÄX%$%Xs mission to accelerate the transition to sustainable transportation.
ChargePoint: ChargePoint introduced a new line of smart AC EV charging cables equipped with advanced connectivity features and integrated software for remote monitoring and control. The initiative focuses on providing seamless charging solutions for electric vehicle drivers and improving network reliability.
BYD: BYD unveiled a high-power AC EV charging cable designed to support fast-charging capabilities for electric vehicles. The initiative aims to address the growing demand for rapid charging solutions and facilitate the widespread adoption of electric vehicles in urban environments.
Siemens: Siemens announced a collaboration with automotive manufacturers to develop standardized AC EV charging cable solutions compatible with various electric vehicle models. This initiative aims to promote interoperability and ease of use for EV drivers, while supporting the expansion of charging infrastructure worldwide.
Features of the Global AC EV Charging Cable Market
Market Size Estimates: AC EV charging cable market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AC EV charging cable market size by type, application, and region in terms of value ($B).
Regional Analysis: AC EV charging cable market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AC EV charging cable market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AC EV charging cable market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AC EV charging cable market?
Answer: The global AC EV charging cable market is expected to grow with a CAGR of 16.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AC EV charging cable market?
Answer: The major drivers for this market are increasing adoption of electric vehicles and growing focus on renewable energy and sustainability in transportation.
Q3. What are the major segments for AC EV charging cable market?
Answer: The future of the AC EV charging cable market looks promising with opportunities in the passenger car and commercial vehicle markets.
Q4. Who are the key AC EV charging cable market companies?
Answer: Some of the key AC EV charging cable companies are as follows:
• Acome
• Eland Cables
• OMG EV Cable
• Aptiv
• Weidmüller
• TE Connectivity
• Leoni
Q5. Which AC EV charging cable market segment will be the largest in future?
Answer: Lucintel forecasts that 3-phase AC charging cable is expected to witness the higher growth over the forecast period.
Q6. In AC EV charging cable market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AC EV charging cable market by type (1-phase AC charging cable and 3-phase AC charging cable), application (passenger car, commercial vehicle, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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