EV Connectors Market: Global Industry Analysis and Forecast (2021-2027)

EV Connectors Market size was valued at US$ 28.50 Mn in 2020 and the total revenue is expected to grow at 18.4% through 2021 to 2027, EV Connectors Market is reaching nearly US$ 130.31 Mn by 2027.

EV Connectors Market Overview:

Electric vehicle (EV) charging connectors, often known as EV connectors, are necessary for charging electric automobiles. EV connectors are used in electric car charging stations as well as for charging electric vehicle batteries at home. EV connectors are designed to work with a variety of charging power sources and charging times. With an increase in the number of EVS (electric vehicle stations) due to an increase in the manufacturing of electric automobiles around the world, EV connections have become increasingly common. EV connector manufacturers are focusing on charging compatibility innovation and catering to more efficient connectors on the market. The market for EV connectors is expected to grow significantly as the number of electric passenger cars on the road increases around the globe. EV Connector Market To know about the Research Methodology:- Request Free Sample Report 2020 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020, the effect of lockdown on the demand and supply, and the impact of lockdown for the next two years on the market. Some companies have also done well in lockdown, and a specific strategic analysis of those companies is done in the report.

EV Connectors Market Dynamics:

One of the primary factors driving the global EV charging connections market is the rising demand for electric vehicles. Vehicle exhaust gases contain toxic substances such as carbon monoxide, sculpture dioxide, nitrogen oxides, and others, which cause health problems, global warming, and other difficulties. Electric vehicles minimize exhaust gases to a bare minimum. Excessive reliance on fossil fuels like petroleum, coal, and other energy sources results in natural resource depletion and extinction. In addition, government initiatives that encourage the adoption of electric vehicles are boosting market growth. The absence of infrastructure for electric vehicles in developing economies is a major restriction for the global EV charging connector market. Because electric vehicles differ from diesel and gasoline vehicles, the driver must be technically skilled or have access to emergency assistance. Despite this, increased public knowledge of the advantages of utilizing electric vehicles may lead to an increase in their use. The EV connectors market is primarily driven by rising government subsidies for the purchase of electric automobiles around the world. For example, the Chinese government has used huge investments and incentives to stimulate the adoption of electric vehicles over traditional gasoline-powered automobiles. Also, the growing number of electric vehicles necessitates the development of quick charging EV connectors. Additionally, manufacturers all around the world are working on making electric vehicles a priority, which will drive the EV connections market forward. Factors such as the use of vehicle-to-grid V2G electric vehicle charging stations and regulatory bodies' partnership with private enterprises have provided several prospects for the global EV connections market. Government mandates and restrictions for charging stations are posing a significant challenge to the worldwide EV connections industry. To cope with the increasing implementation of rigorous laws in Europe and China, automakers are rushing their EV launch plans. According to Bloomberg New Energy Finance (BNEF), by 2022, multiple automakers would have introduced over 500 different electric car models worldwide. This, in turn, is expected to present a lucrative opportunity for those involved in the production of EV connectors.

Recent Trends in the EV Connectors Market

EV Connector Market 1

EV Connectors Market Segment Analysis:

The EV Connectors Market is segmented into Type, Charging level, Charging speed, Voltage and End use. Based on charging level, the market is sub-segmented into level 1, level 2, level 3 and level 4. The level 3 segments in expected to hold the largest market share in 2020. The charging level is determined by the charging station's power output and the time required to charge the EV. DC Level 3 necessitates considerable infrastructure and service modifications, making it the most expensive to implement of the three levels. In the global EV Charging Connector Market, Level 3 EV connectors are the most popular. This type of charger can charge a vehicle from completely depleted to 80 percent in about 10 minutes. With a typical 45 kW off-board charger, the level 3 EV connectors are suitable for fast charging and range from 200 V to 600 V. The market for level 3 EV connectors will grow as demand for AC charging shifted to DC charging. EV Connector Market 2 Based on charging speed, the market is sub-segmented into fast charging and slow charging. Fast charging EV connectors are the most popular and fastest growing section of the EV Charging Connector Market, since they allow vehicles to be charged using a 240 V AC outlet and do not require the installation of home or public charging equipment. Fast charging is already available at the majority of commercial and public electric car charging stations. ClipperCreek, Change point, Juice Box, and Siemens are some of the most well-known rapid charger manufacturers. In the Asia Pacific region, rising electric vehicle sales and demand for fast charging will drive up demand for EV charging connectors.

EV Connectors Market Competitive Landscape:

There are 7-8 major companies in the EV connectors industry, with a slew of smaller players hoping to cash in on the charging growth in Europe, China, and North America. Under the CHARX brand, Phoenix Contact has increased their portfolio. It will have components for both car electrification and charging infrastructure. They also worked with Proximus to provide 5 G connectivity in their charging infrastructure solutions as well as across the company's other goods and services. They also released new charging AC cords that can handle up to 48 A. Huber+Suhner completed their RADOX range with the launch of RADOX HPC200. It now spans the power spectrum from 50 kW to 500 kW. They introduced the RADOX HPC500, which features 500 A continuous charging, an IP67 connection protection grade, a ready-to-use metering system, and replaceable contacts for prolonged service life. They also demonstrated and introduced high-voltage distribution solutions. Through a distribution arrangement with Heilind Electronics, ITT Cannon increased its footprint client network and increased its customer base. They also introduced a 150 kW cable and connection, as well as liquid-cooled DC charging cables and AC charging solutions. They bought Matrix Composites to improve the industry's goods.

EV Connectors Market Regional Analysis:

North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa make up the global EV charging connectors market. Due to its large population and certain technically advanced economies, like as China, which has the highest EV in the world, Asia Pacific is expected to rise rapidly. Because the region's infrastructure is still expanding, there is a lot of room for growth. Due to supporting government regulations to limit the use of diesel and petrol vehicles, Europe is likely to gain a major share of the worldwide EV charging connections market during the forecast period, resulting in increased demand for EV. In addition, the region has a well-developed rail network, which has reduced the demand of electric vehicles for long distance transport. The United Kingdom's restriction on the sale of diesel and petrol cars, as well as France's leadership in renewable energy, will assist the industry flourish in this region. In Europe, there are almost 13,000 DC Fast Chargers. The primary deployment countries for fast chargers in Europe include Germany, the Netherlands, France, Italy, the United Kingdom, Norway, and Sweden. In France, municipal governments were directly responsible for 70 % of public charging stations. The majority of these deployments (94%) were funded through the Investments for the Future Programme (PIA). To give EV drivers more confidence, the German government made it essential for all gas stations to install EV chargers on site. In the United States, there are around 5,000 fast chargers and over 18,000 connectors. Tesla operates 1,000 of these chargers, with a total of 10,600 plugs in the Tesla Supercharger Network. The implementation of fast chargers will be based on population density. 50 percent of the population of the United States lives in 143 counties, accounting for 4.3 % of all counties. Cross-country highways will also be targeted for fast charging because EVs will have a short stop time on their journeys. The objective of the report is to present a comprehensive analysis of the global EV Connectors Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps understand the global EV Connectors Market dynamics and structure by analyzing the market segments and projects the global EV Connectors Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global EV Connectors Market make the report investor’s guide.

EV Connectors Market Scope: Inquire before buying

Global EV Connector Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US$ 28.50 Mn.
Forecast Period 2021 to 2027 CAGR: 18.4 % Market Size in 2027: US$ 92.96 Mn.
Segments Covered: by Type • CCS • Chademo • GB/T • Tesla
by Charging level • Level 1 • Level 2 • Level 3 • Level 4
by Charging speed • Slow • Fast
by Voltage • AC • DC
by Application • Residential • Commercial

EV Connectors Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

EV Connectors Market Key Players

• Yazaki • TE Connectivity • Sumitomo • Schneider Electric • HUBER+SUHNER • Tesla • Bosch • ITT • Amphenol • Siemens AG • ABB • Fujikura • Robert Bosch GmbH • ChargePoint Inc. • WallboxOK • DYDEN CORPORATION • Blink Charging Co. • Fischer Connectors SA • Connector-Tech ALS Pty Ltd • SemaConnect Inc.

Frequently Asked Questions:

1) What was the market size of the EV Connectors Market in 2020? Ans - EV Connectors Market was worth US$ 28.50 Mn in 2020. 2) What is the market segment of the EV Connectors Market? Ans -The market segments are based on Type, Charging level, Charging speed, Voltage and End use 3) What is the forecast period considered for EV Connectors Market? Ans -The forecast period for EV Connectors Market is 2021 to 2027. 4) What is the EV Connectors Market size in 2027? Ans –EV Connectors Market is estimated as worth US$ 92.96 Mn. by 2027. 5) Which region is dominated in EV Connectors Market? Ans -In 2020, the Asia pacific region dominated the EV Connectors Market.
1. Global EV Connector Market: Research Methodology 2. Global EV Connector Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global EV Connector Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global EV Connector Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global EV Connector Market Segmentation 4.1. Global EV Connector Market, by Type (2020-2027) • CCS • Chademo • GB/T • Tesla 4.2. Global EV Connector Market, by Charging level (2020-2027) • Level 1 • Level 2 • Level 3 • Level 4 4.3. Global EV Connector Market, by Charging speed (2020-2027) • Slow • Fast 4.4. Global EV Connector Market, by Voltage (2020-2027) • AC • DC 4.5. Global EV Connector Market, by Application (2020-2027) • Residential • Commercial 5. North America EV Connector Market (2020-2027) 5.1. North America EV Connector Market, by Type (2020-2027) • CCS • Chademo • GB/T • Tesla 5.2. North America EV Connector Market, by Charging level (2020-2027) • Level 1 • Level 2 • Level 3 • Level 4 5.3. North America EV Connector Market, by Charging speed (2020-2027) • Slow • Fast 5.4. North America EV Connector Market, by Voltage (2020-2027) • AC • DC 5.5. North America EV Connector Market, by Application (2020-2027) • Residential • Commercial 5.6. North America EV Connector Market , by Country (2020-2027) • US • Canada • Mexico 6. European EV Connector Market (2020-2027) 6.1. European EV Connector Market , by Type (2020-2027) 6.2. European EV Connector Market , by Charging level (2020-2027) 6.3. European EV Connector Market, by Charging speed (2020-2027) 6.4. European EV Connector Market, by Voltage (2020-2027) 6.5. European EV Connector Market, by Application (2020-2027) 6.6. European EV Connector Market , by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific EV Connector Market (2020-2027) 7.1. Asia Pacific EV Connector Market , by Type (2020-2027) 7.2. Asia Pacific EV Connector Market , by Charging level (2020-2027) 7.3. Asia Pacific EV Connector Market, by Charging speed (2020-2027) 7.4. Asia Pacific EV Connector Market, by Voltage (2020-2027) 7.5. Asia Pacific EV Connector Market, by Application (2020-2027) 7.6. Asia Pacific EV Connector Market , by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa EV Connector Market (2020-2027) 8.1. Middle East and Africa EV Connector Market , by Type (2020-2027) 8.2. Middle East and Africa EV Connector Market , by Charging level (2020-2027) 8.3. Middle East and Africa EV Connector Market, by Charging speed (2020-2027) 8.4. Middle East and Africa EV Connector Market, by Voltage (2020-2027) 8.5. Middle East and Africa EV Connector Market, by Application (2020-2027) 8.6. Middle East and Africa EV Connector Market , by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America EV Connector Market (2020-2027) 9.1. Latin America EV Connector Market, by Type (2020-2027) 9.2. Latin America EV Connector Market by Charging level (2020-2027) 9.3. Latin America EV Connector Market, by Charging speed (2020-2027) 9.4. Latin America EV Connector Market, by Voltage (2020-2027) 9.5. Latin America EV Connector Market, by Application (2020-2027) 9.6. Latin America EV Connector Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Yazaki 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. TE Connectivity 10.3. Sumitomo 10.4. Schneider Electric 10.5. HUBER+SUHNER 10.6. Tesla 10.7. Bosch 10.8. ITT 10.9. Amphenol 10.10. Siemens AG 10.11. ABB 10.12. Fujikura 10.13. Robert Bosch GmbH 10.14. ChargePoint Inc. 10.15. WallboxOK 10.16. DYDEN CORPORATION 10.17. Blink Charging Co. 10.18. Fischer Connectors SA 10.19. Connector-Tech ALS Pty Ltd 10.20. SemaConnect Inc.

About This Report

Report ID 24955
Category Automotive and Transportation
Published Date JAN 2020
Updated Date Dec 2021
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