Electric Vehicle (EV) Charging Connector Market to Grab $273.2 Million, by 2032 with 17.0% CAGR

Electric Vehicle Charging Connector

PORTLAND, OREGAON, UNITED STATES, January 12, 2024 /EINPresswire.com/ — Allied Market Research published a report, titled, “Electric Vehicle Charging Connector Market by Type (CCS, CHAdeMO, GB/T, and Tesla), by Charging Level (Level 1, Level 2, and Level 3), by Charging Speed (Slow Speed and Fast Charging), by End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032.” Aas per the report, 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐟𝐨𝐫 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐚𝐥 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐜𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐜𝐨𝐧𝐧𝐞𝐜𝐭𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞 $𝟐𝟕𝟑.𝟐 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐. 𝐓𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟓𝟗.𝟑 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐚 𝐧𝐨𝐭𝐚𝐛𝐥𝐞 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟕.𝟎% 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝 𝐨𝐟 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/107284

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐢𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 :

The global electric vehicle charging connector market is thriving rapidly due to development of charging infrastructure, demand for fast chargers, government support towards the acquisition of electric vehicles (EVS). However, the overheating issue with the charger or connector and connector standardization restrain the market growth to some extent. Nevertheless, introduction of V2G (Vehicle-to-grid) solutions, expansion of service and support standards, and development of infrastructure will offer remunerative growth avenues to the market in the upcoming years.

𝐑𝐮𝐬𝐬𝐢𝐚-𝐔𝐤𝐫𝐚𝐢𝐧𝐞 𝐜𝐨𝐧𝐟𝐥𝐢𝐜𝐭 𝐈𝐦𝐩𝐚𝐜𝐭 :

· The conflict between Russia and Ukraine adversely affected the electric vehicle charging connector market. The disruption in the supply of crucial minerals necessary for advancing vehicle electrification efforts impeded the market’s growth.

· Moreover, Russia plays a pivotal role as a primary provider of high-purity nickel, contributing to about 20% of the world’s supply. Consequently, the tension between Russia and Ukraine had a direct and significant impact on the electric vehicle charging connector market.

· The war has ended, and the market is experiencing a gradual and steady recovery.

𝐓𝐡𝐞 𝐂𝐡𝐚𝐝𝐞𝐦𝐨 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐫𝐞𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐢𝐦𝐞𝐟𝐫𝐚𝐦𝐞

On the basis of type, the CCS segment gained the largest market share in 2022, contributing to nearly two-fifths of the total market revenue and is expected to dominate the market throughout the forecast timeframe. Major automakers such as Volkswagen, BMW, Ford, General Motors, and numerous others have widely embraced the Combined Charging System (CCS) as the standard charging system. This widespread adoption has played a significant role in solidifying CCS as the predominant charging solution in the electric vehicle (EV) market. The Tesla segment, however, is anticipated to display the fastest CAGR of 21.9% by 2032, as it is most credible connector in the North America region, having accomplished over 20 billion EV charging stations, coupled with being a Tesla-exclusive connector utilized in their electric vehicles.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/electric-vehicle-charging-connector-market/purchase-options

𝐓𝐡𝐞 𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐥𝐞𝐚𝐝 𝐭𝐡𝐞 𝐭𝐫𝐚𝐢𝐥 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

On the basis of end user, the residential segment grabbed the largest market share in 2022, contributing to nearly three-fourths of the total market revenue and is expected to rule the roost during the forecast period. The growth is attributed to the fact that the residential charging connectors enable EV owners to safely and conveniently charge their vehicles at home, offering an accessible and reliable charging solution for routine use. The commercial segment, on the other hand, would cite the fastest growth with 17.8% CAGR throughout the forecast timeframe. The commercial connectors perform an important function in allowing EV owners to charge their vehicles outside the home, offering them with the flexibility to travel longer distances and depend on public charging infrastructure for suitable charging options.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐢𝐭𝐬 𝐬𝐮𝐩𝐫𝐞𝐦𝐚𝐜𝐲 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐢𝐦𝐞𝐟𝐫𝐚𝐦𝐞

The regional analysis in the report indicates that the market across the Asia-Pacific region was largest in 2022, contributing to more than two-fifths of the total market revenue and is projected to grab the lion’s share from 2023 to 2032. The swift expansion in the sales of EVs, owing to which there is a rise in the electric vehicle charging connector market. The surge in sales is because of the government policies in several regions and the advancements made by

the different manufacturers. North America, however, would showcase the fastest CAGR of 19.1% during the forecast period of 2023 to 2032, due to the surge in the cost of oil in past years, which raises the long-term cost advantages of EVs.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/107284

𝐊𝐞𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 :

· Fujikura
· Sumitomo Corporation
· Schneider Electric
· TE Connectivity
· ABB
· Yazaki Corporation
· Siemens
· Robert Bosch GmbH
· Tesla
· Amphenol Corporation

The report offers an extensive analysis of the primary market players in the global electric vehicle charging connector market size. These key players have implemented diverse strategies, including the introduction of new products, partnerships, expansions, joint ventures, agreements, and various other approaches. These tactics aim to improve their market presence and sustain influential positions across various regions. The report proves invaluable by shedding light on business performance, operational divisions, product arrays, and strategic moves of market players, effectively presenting the competitive landscape within the industry.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Electric Vehicle Charger Market : https://www.alliedmarketresearch.com/electric-vehicle-charger-EVC-market

Electric Vehicle Battery Thermal Management System Market : https://www.alliedmarketresearch.com/electric-vehicle-battery-thermal-management-system-market-A16399

Electric Vehicle Supply Equipment (EVSE) Market : https://www.alliedmarketresearch.com/electric-vehicle-supply-equipment-market-A07130

Electric Utility Vehicle Market : https://www.alliedmarketresearch.com/electric-utility-vehicle-market-A09618

David Correa
Allied Market Research
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