Electric Vehicle Charging Cables Market Share, Size, Future Demand, and Emerging Trends

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The electric vehicle charging cables market is expected to witness tremendous growth in the near future, attributed to the increased adoption of electric vehicles, rising concern on air-pollution levels, and public EV charging infrastructure development. Electric vehicles are energy-efficient and cause no pollution to the environment; hence, governments worldwide are increasing their adoption in public transport and making policies to promote them for personal usage, resulting in surging demand for EV charging cables. 

APAC captures a significant share of the electric vehicle charging cables market; China contributes massively to the APAC market. There are increasing opportunities in South Korea and Japan for market players to scale themselves in the region. Both nations' governments provide regulatory and financial aid support manufacturers and EV buyers, facilitating the assistance in EV charging station development. APAC is expected to witness significant growth during the forecast years from 2021 to 2030. 

The heavy investments made by governments worldwide to develop EV charging infrastructure to promote the traction of electric vehicles on the road leads to the proliferation of the electric vehicle charging cables market. Delhi government is focusing on actively adopting electric vehicles to increase their traction on the roads of the national capital to curb pollution. It has targeted to register 25% electric vehicles under the total vehicle registration by 2024.  

The key players of the market are Chengdu Khons Technology Co. Ltd., Coroplast Group, Leoni AG, PHOENIC CONTACT GmbH & CO. kg., BESEN-Group, Aptiv plc, General Cable Technologies Corporation and TE Connectivity Ltd. They are focusing on partnering, collaborating and developing new products to enhance their portfolio and improve their position in the market. For instance, AMP+ charging inlet for electric vehicles and hybrid passengers were launched by the TE Connectivity Ltd. in January 2021. 

Get More Insights: Electric Vehicle Charging Cables Market Revenue Estimation and Growth Forecast Report

Therefore, increased efficiency of electric vehicles and reduced pollution levels leads to proliferation of the market. 

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