The EV charging connectors market is anticipated to expand at a CAGR of 19.53% to attain US$233.453 million by 2029 from US$95.672 million in 2024.
The electric vehicle (EV) charging connector is among the most critical components in EV charging infrastructure, as the connector transmits electric energy from the charging boards to the automobiles. EV charging connectors are often used by EV charging stations or residential charging infrastructure. These connectors provide a wide range of charging power output and charging timeframes. The EV connector makes it easier for an electric car's battery to be connected to the charging source, ensuring power is timed with the batteries.
The EV charging connectors offer multiple benefits to the users, like ensuring flexibility and convenience for the EV operators to charge from a wide range of EV chargers. These connectors also help to lower energy costs and promote sustainability for EV drivers. The market for EV charging connections is projected to grow significantly due to the increasing demand for electric vehicles. The global demand for electric vehicles has observed massive growth in thepast few years, majorly due to the growing public perceptions towards an eco-friendly transport model and increasing governmental initiatives and investments for EV chargers.
The global sales of EVs have grown significantly over the years. The global BEV & PHEV sales report by EV Volumes stated that in 2021, 6.77 million EVs were sold, which grew to about 10.52 million units in 2022. The total BEV and PHEV sales in the global market grew to 14.18 million units in 2023, an increase of about 35% from previous years.
The Asian Pacific region is among the biggest markets for EVs, with China being the biggest producer and consumer of electric vehicles. The International Energy Agency (IEA), in its global report, stated that in 2021, the total EV stock in China was recorded at about 6.2 million, which significantly grew to 10.7 million units in 2022. The total BEV stock in the nation in 2023 was estimated at 16.1 million, almost half of the global BEV stock in the same year. Similarly, EV sales in the nation havealso grown massively over thepast few years. The total EV sales in China were recorded at about 3.3 million in 2021, which increased to 6 million in 2022, finally reaching 8.1 million in 2023.
The electric vehicle (EV) charging connector is among the most critical components in EV charging infrastructure, as the connector transmits electric energy from the charging boards to the automobiles. EV charging connectors are often used by EV charging stations or residential charging infrastructure. These connectors provide a wide range of charging power output and charging timeframes. The EV connector makes it easier for an electric car's battery to be connected to the charging source, ensuring power is timed with the batteries.
The EV charging connectors offer multiple benefits to the users, like ensuring flexibility and convenience for the EV operators to charge from a wide range of EV chargers. These connectors also help to lower energy costs and promote sustainability for EV drivers. The market for EV charging connections is projected to grow significantly due to the increasing demand for electric vehicles. The global demand for electric vehicles has observed massive growth in thepast few years, majorly due to the growing public perceptions towards an eco-friendly transport model and increasing governmental initiatives and investments for EV chargers.
EV Charging Connectors Market Drivers:
- The rising demand for electric vehicles is expected to drive the market growth
The global sales of EVs have grown significantly over the years. The global BEV & PHEV sales report by EV Volumes stated that in 2021, 6.77 million EVs were sold, which grew to about 10.52 million units in 2022. The total BEV and PHEV sales in the global market grew to 14.18 million units in 2023, an increase of about 35% from previous years.
EV Charging Connectors Market Geographical Outlook
- Asia Pacific is forecasted to hold a major share of the EV Charging Connectors Market.
The Asian Pacific region is among the biggest markets for EVs, with China being the biggest producer and consumer of electric vehicles. The International Energy Agency (IEA), in its global report, stated that in 2021, the total EV stock in China was recorded at about 6.2 million, which significantly grew to 10.7 million units in 2022. The total BEV stock in the nation in 2023 was estimated at 16.1 million, almost half of the global BEV stock in the same year. Similarly, EV sales in the nation havealso grown massively over thepast few years. The total EV sales in China were recorded at about 3.3 million in 2021, which increased to 6 million in 2022, finally reaching 8.1 million in 2023.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive IntelligenceReport Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
The EV Charging Connectors Market is segmented and analyzed as follows:
- By Product Type
- Wall Connector
- Charge Plug Connector
- By Speed
- Slow Charging
- Rapid Charging
- By Socket Type
- Type 1
- Type 2
- By Vehicle Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- UK
- France
- Spain
- Others
- Middle East and Africa
- Suadi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Others
- North America
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. EV CHARGING CONNECTORS MARKET BY PRODUCT TYPE
6. EV CHARGING CONNECTORS MARKET BY SPEED
7. EV CHARGING CONNECTORS MARKET BY SOCKET TYPE
8. EV CHARGING CONNECTORS MARKET BY VEHICLE TYPE
9. EV CHARGING CONNECTORS MARKET BY GEOGRAPHY
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
11. COMPANY PROFILES
Companies Mentioned
Some of the key companies profiled in this EV Charging Connectors Market report include:- Degson
- Zhengzhou Saichuan Electronic Technology Co., Ltd.
- iConnector Technology Co., Ltd.
- Amphenol Corporation
- Fujikura Ltd.
- Sumitomo Electric
- Chongqing Senku Machinery IMP and EXP CO., LTD
- Workersbee
- Sichuan Green Science & Technology Co. Ltd
- Guchen Electronics
- Japan Aviation Electronics Industry, Ltd.
- Japan Energy Components Co., Ltd.
- Enphase Energy
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 145 |
Published | September 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 95.67 million |
Forecasted Market Value ( USD | $ 233.45 million |
Compound Annual Growth Rate | 19.5% |
Regions Covered | Global |
No. of Companies Mentioned | 14 |