Electric Vehicle Charging Cables Market
Dynamics Trends, Segmentation, Key
Players And Forecast
The global EV charging cables market generated a revenue of approximately $250 million
in 2020, and it will exhibit huge expansion from 2021 to 2030, as per the estimates of P&S
Intelligence, a market research firm based in India. The factors fueling the market surge are
the growing deployment of electric vehicles (EVs), increasing concerns being raised over the
escalating air pollution levels, and the burgeoning demand for public EV charging facilities
With the soaring adoption of EVs, the governments of many countries are actively focusing
on developing EV charging stations. Moreover, several governments are making huge
investments for developing and installing EV charging stations in various public places. As
per the International Energy Agency (IEA), the total number of EV charging points around the
world increased by nearly 44% from 2017 to 2018. The development of these stations is
fueling the advancement of the electric vehicle charging cables market.
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Depending on power supply, the market is divided into direct current (DC) and alternating
current (AC) categories. Between these, the AC category is predicted to dominate the market
in the forthcoming years. This is credited to the surging installation of charging facilities in
various private settings such as homes and offices. The market is also classified, on the basis
of cable shape, into coiled and straight categories. Of these, the straight category generated the
higher revenue in the past years.
Furthermore, this category is predicted to hold the larger share in the market in the upcoming
years. This is ascribed to the lower maintenance and operating costs and the greater ease of
installation of these cables than the coiled ones.