Electric Vehicle Connectors Market to See Remarkable CAGR Growth of 17.6% by 2029, Trends, Size, Application,

CHICAGO, Oct. 10, 2022 /PRNewswire/ — Data Bridge Market Research has recently published a Report, titled, “Global Electric Vehicle Connectors Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. The study breaks the market by revenue and volume (wherever applicable) and price history to estimate the size and trend analysis and identify gaps and opportunities. This report provides a detailed analysis of global market size, regional and country-level market size, growth, share, competitive landscape, sales analysis, the impact of domestic and global Electric Vehicle Connectors Market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.

Data Bridge Market Research analyses that the electric vehicle connectors market is expected to reach a value of USD 169,019.42 Thousand by 2029, at a CAGR of 17.6% during the forecast period. The electric vehicle connector’s market report also covers pricing analysis, patent analysis, and technological advancements in depth.

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Electric Vehicle Connectors is a professional and in depth market report which focuses on primary and secondary drivers, market share, possible sales volume, leading segments and geographical analysis. Top market players, major collaborations, merger and acquisitions along with trending innovation and business policies are reviewed in this market report. A competitor analysis study is a vital aspect of any market research report which highlights the strong and weak points of the competitors and also analyses their strategies with respect to product and market. The universal Electric Vehicle Connectors market research report lends a hand to business with the intelligent decision making and better manages marketing of goods which finally leads to growth in the business.

Electrification requires a new approach to automotive design and brings to the importance of high-quality automotive connectors to bring life to innovations. Connectors guarantee that power is distributed dependably throughout each electrical system, from the battery to the powertrain to dashboard physics and different specialist equipment. They additionally facilitate within the event of faults, permitting operational systems to stay functioning in the case of a singular system failure. The EV charging station can either operate on AC or DC power. The source of power is used to classify the types of EV charging connectors.

Some of the major players operating in the global electric vehicle connectors market are

• YAZAKI Corporation

• TE Connectivity

• Sumitomo Electric Industries, Ltd.

• HUBER+SUHNER

• Tesla

• REMA Lipprandt GmbH Co. KG

• Sumitomo Electric Industries, Ltd.

• BESEN INTERNATIONAL GROUP CO., LTD.

• HARTING Technology Group

• Weidmüller

• BizLink Group

• Japan Aviation Electronics Industry, Ltd.

• ITT Inc.

Recent Industry Development:

• In June 2022, Robert Bosch GmbH announced the acquisition of the MoTeC Group. This acquisition will allow the company to boost its offered product portfolio in automotive technology and increase the market reachability

• In April 2021, NINGBO DEGSON ELECTRICAL CO., LTD announced that the company had participated in the Munich Electronics Show at the Shanghai New International Expo Centre. The company has showcased a variety of products for various sectors and applications at this event. Through this, the company has increased its market reachability via showcasing its product capabilities and technical advancement.

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Opportunities

As the EV market is expanding, demand is increasing for vehicle-to-everything (V2X) charging connector solutions. As EV adoption continues to grow, powerful connectors that can support EV charging will play a key role in both the development of the future automotive landscape, as well as contribute to the grid and residential energy systems. Thus, the increasing demand for V2X solutions is expected to increase the EV connector applications and use in EV and its allied sectors providing an opportunity for the electric vehicle connectors industry

Key Coverage in the Vehicle Connectors Market Report:

• Detailed analysis of electric vehicle connectors market by a thorough assessment of the technology, product type, application, and other key segments of the report

• Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period

• Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth

• Comprehensive analysis of the regions of the vehicle connectors industry and their futuristic growth outlook

• Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies

Key Market Segmentation:

By Type

By Material

By Level

• Level 1

• Level 2

• Level 3

• Level 4

By Current Type

By Charging Speed

By Mounting Type

• Wall Mounted

• Floor Mounted

By Cable Type

• Straight Cable

• Coiled Cable

By End User

• Residential Charging

• Commercial Charging

By Sales Channel

By Vehicle Type

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Industry Challenges:

The importance of connectors is increasing as the EV/HEV is increasing on the road across the globe. It is an important component in EV and EV charging as electric vehicles are recharged by electricity. However, the high cost associated with EV connectors is a major restraining factor for the growth of the global electric vehicle connectors market.

Market Drivers:

The EV industry has been showing enormous growth over the years owing to rising demand for electric vehicles almost in every region. Furthermore, major players in the electric vehicles market such as Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company S.P.A., BYD Company Motors and Ford Motors Company are focusing on expanding their business operations in emerging countries such as China, India and others. Rapid penetration of EV/HEV globally is fuelling the global electric vehicle connectors market as EV connectors act as an EV coupler with a charging pole of the station required for power transmission. The connectors help establish the connection of the battery of an EV with the charging point of the station.

Creating an accessible public charging network will be essential to achieve widespread EV adoption. Public charging is vital for EV consumers who live in multi-unit complexes or those without a private driveway. Additionally, EV owners will require charging their vehicles along highways and driveways to drive longer distances and charge along the way. Expected future battery improvements and increasing investment in charging networks by key players are expected to act as drivers for the electric vehicle connectors market. Other than government initiatives and subsidiaries to install EV charging stations, key players in the electric vehicle (EV) market are also investing heavily in building a charging network in regions with high sales.

The development and advancement of EV connectors are increasing at a rapid rate. This is basically due to meeting the present demands of high-speed EV charging and the ability to charge from both sources of electricity, AC and DC, for the EV owners. The rapid advancement and development in the EV connector are expected to boost the growth of the global electric vehicle connectors market growth.

Country Level Analysis: Electric Vehicle Connectors Market

The countries covered in the electric vehicle connectors market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America..

Asia-Pacific region is expected to dominate the global electric vehicle connectors market as Asia-Pacific has the world’s largest market for electric vehicle charging stations which increases the adoption of connectors in the region. An increase in demand for electric vehicles and rapid development in electric charging infrastructure in countries such as Japan and China are key factors that boost the electric vehicle charging connector market. China is the largest manufacturer of electric vehicles and the Government of China has announced plans to adopt electric vehicles in the near future. Moreover, increasing pollution levels in economies such as Japan and China have fueled the demand for zero-emission vehicles in such countries, thereby creating a huge demand for EVs and EV charging infrastructure. All the factors mentioned above are likely to propel the EV connectors market in the Asia-Pacific region

Electric Vehicle Connectors Market Report Answers the Following Questions:

• How much revenue will the Electric Vehicle Connectors market generate by the end of the forecast period?

• Which market segment is expected to have the maximum market share?

• What are the influencing factors and their impact on the Electric Vehicle Connectors market?

• Which regions are currently contributing the maximum share of the overall Electric Vehicle Connectors market?

• What…