- Report ID: BMRC 1448 | Number of pages: 200 | Publish Date: Feb 2021
Status: Published | Category: Automotive And Transport | Delivery Timeline:
Global EV Charging Connectors Market is valued at USD 39.8 Million in 2020 and expected to reach USD 127.6 Million by 2027 with a CAGR of 18.1% over the forecast period.
EV Charging Connectors Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing demand for electric vehicles due to environmental regulations is one of the major factors anticipated to drive the growth of Global EV Charging Connectors Market.
EV Charging Connectors are the connecting socket which are used to charge the electric vehicle at the charging station. Its function is similar to that phone charger but it is designed to conduct high power. The connector can be found in different shape & sizes depend on the charging facility or type i.e. fast/slow or power carrying capacity i.e. 7kW/22Kw etc. It is used to charge electric vehicle i.e. car, bike, etc in an efficient, fast and reliable way. The charging connectors are different based on region, depending upon the manufacturer or regional manufacturing standards i.e. European standard, American standard, Tesla connector and etc. The manufacturing of connector requires maintaining high product quality for the safety of users, EV and infrastructure. The EV manufacturer like Tesla, BMW, Audi has been leading the way for market to pot of electric vehicle. There are several types of connectors based on technological changes done in the past. There are many economies which are trying to shift to 100% electrical vehicle in some year like Britain.
During Covid-19 Pandemic, the consumer’s purchasing power has been reduced. The social distancing & reduced EV sales in lockdown resulted in negative effect on the EV charging connectors market. The situation of EV market after lockdown is reaching to pre-covid-19 level and expected to grow in coming few years.
Global EV charging connectors market report is segmented on the basis of level of charging type, voltage type, charging speed, component, application type and region & country level. Based upon level of charging type, global EV charging connectors market is classified into level 1, level 2, level 3 and level 4. Based upon voltage type, global EV charging connectors market is divided into AC charging and DC charging. Based upon charging speed type, global EV charging connectors market is divided into slow, fast, rapid and ultra rapid. Based upon component, global EV charging connectors market is divided into leads, adapters, wall box, portable chargers, pins and delta AC mini plus. Based upon application type, global EV charging connectors market is divided into residential and commercial.
The regions covered in global EV charging connector market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global EV charging connectors is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Key Players for Global EV Charging Connectors Market Report:
Some of the key players for global EV charging connector market are Schneider Electric, Yazaki, Bosch, Tesla, Siemens AG, ABB, Amphenol, Fujikura, Sumitomo, AeroVironment, Inc., BP Chargemaster, ChargePoint, ClipperCreek, Eaton Corp., General Electric Company, Leviton Manufacturing Co., SemaConnect, Inc., Webasto SE and others.
News: EV Charging Groups are Focusing on the UK’s Ban on Sales of Diesel & Petrol Car by 2030.
On January 18th, 2021; The UK government is focusing to ban the sale of petrol and diesel car by 2030 which has led the increased demand of EV. 1 in 10 car in 2020 with 6.6% battery electric car and 4.1% hybrid car plug in to charge. The infrastructure demand has increased & companies like Ecotricity, Ubitricity and Pod Point rolling out public charger. Greater London has max 9400 connectors in comparison to 500 in Northern Ireland. The requirement for long distance drivers rapid charging and to individual who can’t pay for connector installed at home and don’t have off street parking.
The increasing demand of EVs is one of the major factors driving the growth of global EV charging connectors market. The exhaust gases of car contain carbon monoxide, sulfur dioxide, nitrogen oxides, etc which are harmful and results in health issues, global warming and etc. EV reduces the exhaust gases to minimal level. In addition, the over dependence on fossil fuel for petroleum, coal, etc. results in depletion & extinction of natural resources. In addition, supportive government policies to encourage the adoption of EVs are also supplementing the market growth. The major restraint for global EV charging connector market is the lack of infrastructure for electric vehicle in the developing economies. In addition, the EV is different from diesel & petrol vehicle, so the individual should be technically sound or emergency support should be available. In spite of that, increasing awareness regarding the benefits of using EVs may also create more opportunities for the further growth of the market.
The global EV charging connectors market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. The Asia Pacific is expected to grow at a fast pace due to its large population & some technically advanced economies like China which has highest EV in world. The region has developing infrastructure & hence leads significant opportunity to grow.
Europe is expected to capture a significant share in the global EV charging connectors market within the forecast period due to supportive government policies to limit the use of diesel and petrol vehicle which will lead to increase the demand for EV. In addition, the region is well connected with rail link for travelling which reduced use of EV for long distance. The UK’s ban on sale of diesel & petrol car, France leading in clean energy will also help the market to grow in this region.
Key Benefits for Global EV Charging Connectors Market Report:
By Level of charging:
By Voltage Type:
By Charging speed:
Middle East and Africa
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EV Charging Connectors Market Size By Level of charging (Level 1, Level 2, Level 3, Level 4), By Voltage Type (Ac charging, Dc charging), By Charging speed (Slow, Fast, Rapid, Ultra rapid), By Component (Leads, Adapters, Wallbox, Portable Chargers, Pins, Delta AC Mini Plus), By Application (Residential, Commercial) Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027