Global EV Connectors Market — Industry Analysis and Forecast (2018–2026) — by Type, Charging level, Charging Speed, Voltage, End User and Region.
Global EV Connectors Market was valued at US$ 27Mn in 2017 and is expected to reach US$ 100Mn by 2026, at a CAGR of 17.78% during a forecast period. The increasing popularity of electric and hybrid electric vehicles, demand for electric vehicle connectors and charging cables has never been higher such in demand.
Major driving factors of the EV connectors market are lower operating and maintenance costs. Driving an EV costs 33 to 50 percent less than driving an internal combustion engine (ICE) vehicle, Hybrid technologies have improved fuel economy by 25 percent compared to an equivalent all-diesel commercial vehicle. Low defense budgets and High Investment cost will act as a restraint to the market. Electric motor are controlling the delivery to tremendous advantages compared to equipment with mechanical or hydraulic levers. Growth of private and public charging stations will fuel demand for EVs. The future looks promising for commercial EVs. Continuing develop of key components will likely lead to lower manufacturing costs and improved performance for EVs will create opportunity for EV connecters market. High price of electric car and underdeveloped infrastructure will act as restraint to the market.
Based on the Platform, GB/T segment is expected to hold the largest share in the market during the forecast period. The GB/T have a standard of supports both level 1 to level 2 AC, and even support three-phase AC, and supports 250 volt and 400 volt DC. GBT comes with water resistant level is up to IP55 when plugged-in; making sure rain and water splash won’t cause a problem. While the pin layout looks similar to the IEC connector. China is more go-to about pushing electric vehicle adoption than elsewhere — and the car companies are looking to the Chinese market to increase car sales — it’s possible that whatever fast charging standard China chooses will, by weight of numbers, become the world standard. The car companies work on selling electric cars in China, they’ll have to implement the GB/T standard.
In Voltage, DC is also expected to lead the market growth. AC Fast chargers for electric vehicles make use of DC charging; they convert the power before it enters the vehicle. After conversion, the power goes directly into the car battery, bypassing the car’s converter. This charging method is most suitable for parking spots where the car will stay parked for 20 minutes or longer.
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period. The Asia-Pacific demand response the EV market is in the growing stage with countries such as South Korea, China, India, Japan, and New Zealand in the forefront. The liberalization of electricity markets and increasing distributed energy resources have a major role in driving the growth of demand response. Most countries in the region are in Test for EV connecter and the trialing demand response to understand the economic benefits of it to evaluate the necessary incentives to be proposed to promote customer participation.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
The Scope of the Report for EV Connectors Market
Global EV Connectors Market, By Type
• CCS • Chademo • GB/T • Tesla
Global EV Connectors Market, By Charging level
• Level 1 • Level 2 • Level 3 • Level 4
Global EV Connectors Market, By Charging Speed
• Slow • Fast
Global EV Connectors Market, By Voltage
• AC • DC
Global EV Connectors Market, By End User
• Residential • Commercial
Global EV Connectors Market, by Region
• North America • Europe • Asia Pacific • Middle East & Africa • South America
Key Players Operating in EV Connectors Market
- Yazaki • TE Connectivity • Sumitomo • Schneider Electric • HUBER+SUHNER • Tesla • Bosch • ITT • Amphenol • Siemens AG • ABB • Fujikura
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