- The increasing demand for renewable charging is a key factor driving growth.
- The increasing production of electric vehicle from countries such as China, Germany, Norway, and Japan drive the growth of electric vehicle connector market.
- The Asia-Pacific region is estimated to hold the largest market share during the forecast period.
Electric Vehicle Connector Market Research Report: Information by Connector Type, Charging Type, Power Supply Range, Current Supply, Charging Station, Charging Speed, Component, Vehicle Type, Application, and Region – Global Forecast till 2023.
The electric vehicle connector is a simple solution for charging hybrid, plug-in and battery electric vehicles. The electric vehicle connector is a type of EV coupler in which a connector device is inserted into an electric vehicle inlet for the purpose of energy transfer between the source and the receiver. The electric vehicle connector shape is varying as per the power supply range such as 1.4 kW to 240 kW and above.
The main players in the global Electric Vehicle Connector Market include
The prominent players in the global Electric Vehicle Connector Market include Yazaki (Japan), Schneider Electric (France), Tesla (US), Bosch (Germany), ABB (China), Siemens AG (Germany), Fujikura (Japan), Amphenol (US), Huber+Suhner (Switzerland), and Sumitomo (Japan).
Market Research Analysis:
The increasing demand for renewable charging, increasing long distance drive by electric vehicles, growing demand for environment friendly vehicles, and the growing concern over the safety in electric vehicles are considered as the key driving factors for the growth of this market.
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The increasing production of electric vehicle from countries such as China, Germany, Norway, and Japan drive the growth of electric vehicle connector market. In addition, the incentives and subsidies provided by governments from various countries for the setup of electric vehicle charging stations are set to drive the growth of this market during the study period.
Market Research Analysis:
In terms of region, the global market for the Electric Vehicle Connector is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share during the forecast period owing to growing production of electric vehicles from China and Japan. Moreover, growing population and rising purchasing power of people are expected to boost the demand for electric vehicle connector market in this region. Furthermore, the growing demand for fasr charging and rising focus to reduce the vehicle emissions accelerate the growth of this market.
North America is estimated to grow at a rate in electric vehicle connector market during forecast period owing to growing electric vehicle market and the presence of key playes such as Tesla and Amphenol, from US are contributing in the growth of this market.