The global demand for electric vehicle charging cables is growing

2022-11-15

The popularization of electric vehicles, the growth of rapid charging demand, the connection and rapid development of electric vehicle charger equipment are the main driving factors to promote the stable and rapid development of the market.

According to the cable length, the global electric vehicle charging cables are mainly divided into 5 meters below, 6-10 meters, and 10 meters above. As more and more private electric vehicles are used for charging, it is expected that the part with a height of 5 meters or less will reach a growth rate of more than 29% in the forecast period; For service providers, the demand for charging cables in charging stations will be diversified to meet the charging demand of users in charging stations. Therefore, it is estimated that the compound growth rate of the 6-10m section in the forecast period will be about 27%.

According to the power supply, the electric vehicle charging cable market is mainly divided into DC charging and AC charging. With the increase of charging demand, it is expected that the DC charging part will grow at a faster rate in the forecast period.

In terms of regional markets, the global market is mainly divided into five regions: North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. It is expected that the Asia Pacific region will expand at a faster compound growth rate in the forecast period, especially China will dominate the charging cable market in the Asia Pacific region. At the same time, the growth of Japan and South Korea's demand for fast charging will also drive the growth of the region.