EV Charging Cables Market

Market Leaders - EV Charging Cables Market

The global EV charging cables market is projected to grow at a CAGR of 29.8% to reach USD 2,453 million by 2027 from an estimated USD 665 million in 2022. Factors such as increasing adoption of electric vehicles, rapid development of electric vehicle supply equipment, and increasing demand for fast charging cables would drive the growth of the market.

The major players in the EV charging cables market include LEONI AG (Germany), TE Connectivity (Switzerland), BESEN Group (China), Aptiv (Ireland), Dyden Corporation (Japan). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market. New product development was the key strategy adopted by leading players to gain traction in this market.

The increasing demand for electric vehicles across the world is driving the demand for EV charging and EV charging cables. The development of faster charging equipment has led to the growing demand for higher power cables for use in the charging equipment. High power cables (HPC) enable drivers to recharge their electric vehicles in a few minutes and travel longer distances.

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LEONI AG (Germany) is a leading player in the global EV charging cables market. The company offers a wide variety of EV charging cables to its customers. In 2021, LEONI AG developed a robust charging cable for Volkswagen ID.4 that consumes less resources. Additionally, in 2020, LEONI AG invested USD 54.9 million to build a plant in Serbia, which helps LEONI AG to establish as the largest industrial employer in Serbia. The company illustrated the wide variety of its cables and solutions for fast charging technology, power supply with high-voltage cables, as well as its LEONiQ digital cable technology. A special High-Power charging cable for liquid-cooled charging systems ensures that the temperatures in the cable and connector do not exceed a defined threshold.

Aptiv PLC manufactures and supplies automotive components and modules to original equipment manufacturers (OEMs) such as GM, Volkswagen Group, Fiat Chrysler Automobiles N.V., Ford Motor Company, and Daimler AG. Earlier, the name of the company was Delphi Automotive PLC, and its powertrain systems segment now operates under an independently traded company, Delphi Technologies PLC. The company operates in the Americas, Europe, the Middle East, Asia, and Africa. In 2018, Aptiv acquired 100% of the equity interests of KUM, a specialized manufacturer of connectors and cable management solutions for the automotive industry, for USD 526 million. The acquisition of KUM enhances Aptivs global market position and expands its range of specialized connectors and cable management solutions. With a highly complementary footprint and product portfolio, KUM will be fully integrated into Aptivs existing Asia Pacific operations

BESEN International Group delivers innovative, safe, and high-quality electric vehicle components. The company offers EV charging cables in straight and coiled shapes at a competitive wholesale price. The company has established a strong presence in China and is a leading supplier to the State Grid Corporation of China. In addition, it has cooperated with many manufacturers of charging equipment in the US and Europe and has undertaken multiple OEM projects in the last few years. The company offers products for sale at e-commerce websites to create a strong online sales channel presence.

Dyden Corporation is a leading provider of flexible cables, power cables, hydraulic equipment, precision metal processing, plastic precision molding, and network devices. The company offers multi-conductor cables for electric vehicles. These cables can carry high voltage ranging from 300 V to 600 V and are insulated with a high-flexibility cable jacket. The company has partnered with Sun-Wa Technos America to supply its products in the US. The company also has three manufacturing plants in Japan. Yaskawa Electric Corporation, Mitsubishi Electric Corporation, and Sumitomo Electric Industries are some of the key customers of Dyden Corporation.

In the EV charging cables market, TE Connectivity (Switzerland) is a major Tier I supplier. In May 2018, TE Connectivity launched its next generation of charging cables and inlets for hybrid and electric vehicles. The new charging cables are specifically designed to meet DIN EN 61851. Type 2 vehicle connector additionally meets IEC 62196. These standards define several types of on-board vehicle interfaces: type 1 for North America and Japan and type 2 for Europe with two charging modes at a wall power outlet or on high-performance charging stations.

Aptiv (Ireland), Phoenix Contact (Germany), BESEN Group (China), SINBON Electronics (Taiwan), Systems Wire & Cable (US), and Coroplast (Germany) are some of the other players in this market. In December 2021, SINBON Electronics announced the official opening of its new plant in Miaoli, Taiwan. The plant will focus on meeting the requirements of semiconductor customers and to provide a complete range of manufacturing services. In October 2020, Lucid Motors partnered with WeWire a subsidiary of Coroplast to develop wire harness for Lucid Air vehicle. Further, in September 2018, Coroplast introduced high-voltage cables at the trade fair in Wolfsburg. These cables can be actively cooled and convince with their minimal material consumption combined with high space and weight savings. In January 2018, Systems Wire & Cable introduced the addition of a new EVE, EVJE Polyurethane Jacketed Electric vehicle charging cable. Among all the EV cables, UL EVE has the most stringent testing requirements.

Related Reports:

EV Charging Cables Market by Power Supply (AC and DC), Application (Private Charging and Public Charging), Length (2-5 Meters, 6-10 Meters, and >10 Meters), Shape (Straight and Coiled), Mode, Charging Level, Diameter and Region - Global Forecast to 2027

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EV Charging Cables Market Size,  Share & Growth Report
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