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Electric Vehicle (EV) Charging Connectors Market Size, Share & Industry Analysis, By Charging Level Type (Level 1, Level 2, Level 3), By Charging Speed Type (Slow , Fast), By End-User Type (Public, Private) And Regional Forecast 2022-2029

Region : Global | Report ID: FBI105098 | Status : Ongoing

 

KEY MARKET INSIGHTS

Electric vehicle (EV) charging connector is the key element for charging electric vehicles which transfers electric energy from the charging base to the electric vehicles. These connectors are usually used in EV charging stations or for residential charging purposes. These connectors provide different charging power sources with different charging time. The EV connector helps to establish the connection between the battery of the electric vehicle and the charging pole, through which the electricity is synchronized with the batteries. The increasing demand for electric vehicles owing to the growing awareness about carbon emission and stringent emission norms are the major factors that are likely to drive the EV charging connector market in the coming years. Moreover, lower maintenance and operating costs are the also the key factors driving the EV connectors market. The cost of driving an electric car is 30% to 50% lower than that of an internal combustion engine (ICE) vehicle. Compared with the equivalent all-diesel commercial vehicle, hybrid technology improves fuel economy by 25%.


Key Market Driver -

Increasing demand for electric vehicles is expected to drive the growth of the market in the forecast period.

Key Market Restraint -

– Introduction of wireless charging may hinder the growth of the market during the forecast period.


Market Segmentation:


Globally, the Electric Vehicle Charging Connectors market is segmented by charging level type, by charging speed type, by end-user type, and by geographic coverage. Based on charging level type, the market is further segmented into level 1, level 2, and level 3. The level 3 segment holds the largest share in the global market. Level 3 EV connectors are suitable for fast charging, and uses a 45 kW external charger in the range of 200 V to 600 V. The 3-level charging level can provide a power output of more than 50 KW, and can charge 80% of the battery in 30 minutes. This fast charging capability is expected to promote the development of this market segment in the near future. As the demand moves from AC charging to DC charging, the market for Level 3 EV connectors is expected to rise. The charging speed type is further segmented into slow and fast charging. The fast charging segment holds the major share in the global market and is expected to boost further as it provides 240 V charging through a Volt AC plug and entails the installation of public charging station or home charging equipment. The fast charging usually takes 2 to 4 hours to fully charge the vehicle. Manufacturers such as Siemens, Changepoint, ClipperCreek, and JuiceBox are the major players contributing for the rapid development in the EV charging technology. The end-user type is further segmented into private and public. The public segment accounts for the maximum share in the global market. The public charging stations is rapidly expanding as it is available to the public. The government’s initiatives to increase the adoption rate of electric vehicles and the increased demand to meet the demand for EV charging may drive the public charging station market in the electric vehicle connector market during the forecast period.


Key Players:


Major players operating in the global Electric Vehicle Charging Connectors market include Robert Bosch GmbH, HUBER+SUHNER, Schneider Electric, TE Connectivity Ltd., Siemens AG, Amphenol Corporation, Sumitomo Corporation, Tesla, Inc., Fujikura Ltd., Yazaki Group, and POD Point among others.


Key Insights



  • New Advancements in Electric Vehicle Charging Connectors

  • Number of Products, Key Countries, 2019

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the Electric Vehicle Charging Connectors market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific accounts for the highest position in the global market and is expected to uphold its leading position over the forecast period. This dominance is attributed to the rapid expansion of the electric vehicle market is countries such as China, India, and Japan resulting in higher rate of adoption of electric vehicle charging stations, thereby fuelling the EV charging connector market in this region. Also, the increasing support from the government in the form of tax rebates, grants, subsidies, and development in the charging infrastructure is expected to drive the market growth. Moreover, the increasing pollution levels of economies such as China and Japan have driven the demand for zero-emission vehicles in these countries, which has created a huge demand for electric vehicles and electric vehicle charging infrastructure in this region.


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Segmentation


























 ATTRIBUTES    


 DETAILS    

By Charging Level Type




  • Level 1

  • Level 2

  • Level 3



By Charging Speed Type




  • Slow

  • Fast



By End-User Type




  • Public

  • Private



By Geography




  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



 


  • Ongoing
  • 2021
  • 2018-2020

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