Report Scope & Overview:
Electric Vehicle Connector Market Size was valued at USD 59.07 million in 2022 and is expected to reach USD 231.24 million by 2030 and grow at a CAGR of 18.6% over the forecast period 2023-2030.
Electric vehicle (EV) charging connectors, often known as EV connectors, are necessary for charging electric automobiles. Connectors for electric vehicles are used not only in charging stations for electric vehicles but also in homes to charge the batteries of electric vehicles. Connectors for electric vehicles are designed to work with a variety of power sources and can accommodate a range of charging times. EV connectors are available in a variety of styles to accommodate a variety of charging needs, including those found in residential and commercial settings. All kinds of electric vehicle connections exist, including EV type 1, CCS, and HEV UPC. No standardization in the electric car industry means that users can expect to see fully diverse models and types, as well as completely different setups and technological attributes.
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In 2020, ABB has introduced the Terra HP, which is the world's quickest electric vehicle (EV) charger. It can extend the range of an EV by up to 200 kilometers in just eight minutes. ABB is the market leader in this area, having placed more than 7,000 DC fast-charging stations in more than 60 countries across the world.
Global incentives for the adoption of electric vehicles are boosting the need for EV connectors.
There has been an increase in the manufacture and sales of electric vehicles.
Integration of all-EV charging station systems with IoT and real-time information solutions boosts the market.
Rising environmental awareness has consumers favoring passenger and commercial EVs.
Poor charging facilities and a poor power system are projected to stifle market expansion.
The adoption of wireless charging may inhibit market expansion.
Profitable prospects exist with V2G EV charging stations and EV charging stations employing renewable sources.
Demand for battery swapping EV charging stations will expand.
The market is expected to be challenged by strict regulations on the installation of EV charging stations.
Infrastructural challenges posed by electric vehicles (EVs).
IMPACT OF COVID-19:
The COVID-19 pandemic had a moderate influence on the market for electric vehicle connectors because of the global lockdown that it caused. The demand for electric vehicles and the associated markets expanded in 2021 as a direct result of the incentives provided by various governments. The leading producers of charging stations and network operators are increasing both the number of private and public electric vehicle (EV) chargers. New safety measures were established by the government as well as important companies in the market for the development of manufacturing methods. The developments in technology we’re able to target the appropriate customers, which resulted in an increase in the sales rate of the charging. After COVID pandemic, it is anticipated that the growth of the market would be further propelled by an increase in the sales of electric vehicles across the globe.
Market, By Charging Type:
The global market has been divided into type 1, type 2, and type 3 based on the charging type segment. Type 2 is the largest type of charging point in the EV Charging Connector Market, followed by type 1 conventional charging stations. The demand for EV connectors has shifted from AC charging stations to DC fast charging points, which power EVs quickly.
Market, By Level Type:
The global market has been divided into level 1, level 2, level 3, and level 4 Based on the level type segment. Level 3 requires infrastructure and service upgrades, thus it's the most expensive to install. EV Charging Connector Market is dominated by Level 3 connectors. This charger can charge a fully depleted vehicle to 80% in 10 minutes.
Market, By Charging Speed:
The global market has been divided into slow, fast, and rapid based on the charging speed segment. It is projected that the Slow Charger segment will continue to grow at a rapid pace and eventually take the worldwide market by storm. Each sort of production, revenue, price, market share, and growth rate are listed below.
By Charging Type:
By Level Type:
By Charging Speed:
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The market for connectors for electric vehicles is broken down into four primary regions: North America, Europe, Asia-Pacific, and the Rest of the World. As a result of the expansion of charging stations in China and Japan throughout the course of the forecast period, it is anticipated that the Asia Pacific region would hold the biggest market share overall. It is anticipated that there will be a greater need for electric car connectors in this region as the number of electric vehicles that are manufactured and sold continues to climb. The growth of this region's auto-emissions market can be attributed to a number of interconnected developments, such as rising per capita income in developing nations like India and China as well as rising rates of urbanization and population.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Siemens AG (Germany), ABB (China), Yazaki (Japan), Schneider Electric (France), Fujikura (Japan), Amphenol (US), Tesla (US), Bosch (Germany), Huber+Suhner (Switzerland), and Sumitomo (Japan) are some of the affluent competitors with significant market share in the Electric Vehicle Connector Market.
Siemens AG (Germany)-Company Financial Analysis
|Market Size in 2022||US$ 59.07 Million|
|Market Size by 2030||US$ 231.24 Million|
|CAGR||CAGR of 18.6% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Charging Type (Type 1, Type 2, Type 3)
• by Level Type (Level 1, Level 2, Level 3, Level 4)
• by Charging Speed (Slow, Fast, Rapid)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Siemens AG (Germany), ABB (China), Yazaki (Japan), Schneider Electric (France), Fujikura (Japan), Amphenol (US), Tesla (US), Bosch (Germany), Huber+Suhner (Switzerland), and Sumitomo (Japan)|
|Key Drivers||•Global incentives for the adoption of electric vehicles are boosting the need for EV connectors.
•There has been an increase in the manufacture and sales of electric vehicles.
|RESTRAINTS||•Poor charging facilities and a poor power system are projected to stifle market expansion.
•The adoption of wireless charging may inhibit market expansion.
Ans:- The market size expected to reach USD 231.24 million by 2030.
Ans:- Asia pacific region is anticipated to be the primary driver of the market.
Ans:- The adoption of electric vehicles & integration of all-EV charging station systems are the primary market drivers for the Electric Vehicle Connector market.
Ans:- The study includes a comprehensive analysis of market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter’s five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Electric Vehicle Connector Market Segmentation, By Charging Type
8.1 Type 1
8.2 Type 2
8.3 Type 3
9. Global Electric Vehicle Connector Market Segmentation, By Level Type
9.1 Level 1
9.2 Level 2
9.3 Level 3
9.4 Level 4
10. Global Electric Vehicle Connector Market Segmentation, By Charging Speed
11. Regional Analysis
11.2 North America
11.2.1 the USA
11.3.2 the UK
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 ABB (China),
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Siemens AG (Germany)
12.3 Yazaki (Japan)
12.4 Schneider Electric (France)
12.5 Fujikura (Japan)
12.6 Amphenol (US)
12.7 Tesla (US)
12.8 Robert Bosch (Germany)
12.9 Huber+Suhner (Switzerland)
12.10 Sumitomo (Japan)
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
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