EV Cables Industry Size

EV Cables Market worth $19.0 billion by 2028

According to a research report "EV Cables Market by Type (BEV, HEV, PHEV), Voltage (Low, High), EV Application (Engine & Powertrain, Battery & Charging Management), High Voltage Application, Insulation, Shielding Type (Copper, Aluminium), Component and Region - Global Forecast to 2028" published by MarketsandMarkets, the Global EV CABLES Market is projected to grow at a CAGR of 17.2% from USD 8.6 billion in 2023 to USD 19.0 billion by 2028

Browse 174 market data Tables and 49 Figures spread through 221 Pages and in-depth TOC on "EV Cables Market by Type (BEV, HEV, PHEV), Voltage (Low, High), EV Application (Engine & Powertrain, Battery & Charging Management), High Voltage Application, Insulation, Shielding Type (Copper, Aluminium), Component and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/ev-cables-market-252291656.html

The major factors driving the growth of the EV cable market are increasing fuel prices that have increased the demand for electric vehicles. Also, heavy R&D activities by EV cable manufacturers to develop EV cables for automobiles are expected to push the growth of the EV cable market. Development of infrastructure for EV charging in emerging countries is expected to drive the growth of electric vehicles, which would boost the demand for EV cables.

FCEV is the fastest-growing segment of the EV cables market during the forecast period

A fuel cell electric vehicle (FCEV) is an electric vehicle that uses a fuel cell to convert hydrogen into electricity to power an electric motor. FCEVs are similar to battery electric vehicles (BEVs) in that they produce no emissions from the tailpipe. However, FCEVs have a longer driving range than BEVs and can be refueled in minutes, similar to conventional gasoline-powered vehicles. Toyota Mirai, Hyundai Nexo, Geely Geometry C are some of the top FCEVs in the world. In March 2022, Toyota Motor corporation launched FCEV Mirai in India. FCEVs use a propulsion system similar to that of electric vehicles, where energy stored as hydrogen is converted to electricity by the fuel cell. Demand for EV cable is directly proportional to increase in fuel cell electric vehicle production.

High Voltage Cable market is expected to be the fastest-growing segment in the EV cable market

The high voltage cable market is expected to grow at a fast pace with the growing demand for electric vehicles in the global market. High voltage cables are used in electric vehicles to transmit power from the battery to the electric motor. The high voltage cables are typically made of copper or aluminum and are insulated with a high-temperature resistant material. The cables are designed to carry high currents without overheating.

UK to be the fastest growing market in Europe for EV cables

The UK government offers subsidies and incentives for electric vehicles which is driving the electric vehicle demand in UK. Hence, the EV cable market will grow. The company announced to fully shift to EVs in 2035. The UK's charging infrastructure is improving all the time, making it easier for electric vehicle owners to find places to charge their cars. The UK’s battery industry for electric vehicle is also growing which is driving the EV cable market. Eland Cables is headquartered in UK. Eland Cables' EV cables are designed to meet the high standards required for use in electric vehicles.

Key Players

The major market players include Leoni AG (Germany), Huber + Suhner (Switzerland), Sumitomo Electric Industries., Ltd (Japan), Aptiv (Ireland), Nexans (France), among others.

Don’t miss out on business opportunities in EV Cables Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

EV Cables Market Size,  Share & Growth Report
Report Code
AT 8013
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the EV Cables Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status

Digital Virtual Assistant - MarketsandMarkets