The EV Connectors Market is expected to grow from USD 29 million in 2020 to USD 67 million by 2026 at a CAGR of 14.9% from 2020 to 2026.
EV connector plays the role of connecting device between the charging stations and the plug-in point of electric vehicles charging points. These connectors are utilized for the conveying of energy from the power source (i.e., charging/power stations) and the battery of electric vehicles. These connectors are in different types on the basis of design and specifications of the vehicles and their energy needs such as EV Type 1, EV Type 2, CCS and HEV UPC Connector.
The key factors which are surging the growth of the EV connector market size are the rising emphasis on the adoption of electric vehicles and leading to huge demand for fast charging connectors across the world. With the increasing carbon emission, customers are now changing to electric vehicles to curb the adverse impact of vehicles on the environment. As per the IAE, in 2019, the sales of electric cars exceeded 2.1 million worldwide. Electrical cars contributed 2.6% of the worldwide car sales and about 1% of global car stock in the same year. Furthermore, the increasing awareness among customers related to the several benefits provided by EV connector, such as it plays the role of electric vehicle coupler with charging pole of the station and makes a connection of the battery of an electric vehicle with the charging point of the station, are also attracting end-users towards this market. Several major manufacturers in the market, such as ABB, Tesla, and others, are emphasizing on extend their product offering to obtain a higher share in the market. On the other hand, the limited standardization of electric vehicles connects will hinder the market growth.
Additionally, the increasing innovations and adoption leading to the development of improved fast charging connectors is a vital factor propelling the market growth, also increasing focus of governments on encouraging the adoption of electric vehicles, increasing focus of automakers on EVs as the key segment, surge in demand for fast charging EV connectors, rising popularity of electric and hybrid electric vehicles are the key factors among others fueling the electric vehicle connectors market.
The global EV Connectors Market is segregated on the basis of Type as Type 1, Type 2 and Type 3. Based on Charging Type the global EV Connectors Market is segmented in AC Charging, DC Charging and Inductive Charging. Based on Application the global EV Connectors Market is segmented in Residential Charging and Commercial Charging.
The global EV Connectors Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The EV Connectors Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Bosch, Tesla, Siemens AG, ABB, TE Connectivity and others are among the major players in the global EV Connectors Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global EV Connectors Market has been segmented as below:
EV Connectors Market, By Type
EV Connectors Market, By Charging Type
EV Connectors Market, By Application
EV Connectors Market, By Region
EV Connectors Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global EV Connectors Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global EV Connectors Market share. Major industry players with significant revenue share include Bosch, Tesla, Siemens AG, ABB, TE Connectivity, Schneider Electric, Amphenol and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. EV Connectors Market, By Type
5.1. Key Points
5.2. Type 1
5.3. Type 2
5.4. Type 3
6. EV Connectors Market, By Charging Type
6.1. Key Points
6.2. AC Charging
6.3. DC Charging
6.4. Inductive Charging
7. EV Connectors Market, By Application
7.1. Key Points
7.2. Residential Charging
7.3. Commercial Charging
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- EV Connectors Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Bosch
9.2. Tesla
9.3. Siemens AG
9.4. ABB
9.5. TE Connectivity
9.6. Schneider Electric
9.7. Amphenol
9.8. Huber+Suhner
9.9. Yazaki
9.10. Aerovironment
9.11. Besen Group
9.12. Phoenix Contact
9.13. Jet Charge
9.14. ITT
9.15. Sumitomo
9.16. Rema Ev
9.17. EV Cables
9.18. Dyden Corporation
9.19. Fujikura
9.20. Semaconnect
9.21. ChargePoint, Inc.
9.22. Groupe Renault
9.23. Phihong USA Corp.
9.24. EV Safe Charge Inc.
EV Connectors Market, By Type
EV Connectors Market, By Charging Type
EV Connectors Market, By Application
EV Connectors Market, By Company