EV Charging Connectors Market, By Type, By Charging, By End User, By Country, and By Region - Industry Analysis, Market Charging, Market Share & Forecast from 2024-2032
EV Charging Connectors Market Charging was valued at USD 59.90 Million in 2023, expanding at a CAGR of 17.10% from 2024 to 2032.
Electric Vehicle (EV) charging connectors are the interface devices used to connect an electric vehicle to a charging station or power source. These connectors serve the critical function of transferring electrical power from the charging infrastructure to the vehicle's battery system.
EV Charging Connectors Market-Market Dynamics
Increasing adoption of EVs and advancement in charging technology are expected to propel market demand
With the rising adoption of electric vehicles globally, there is a corresponding increase in the demand for EV charging infrastructure, including connectors. More EVs on the road mean more charging stations are needed, driving the market for connectors. Governments around the world are implementing policies and regulations to promote electric vehicles as part of efforts to reduce greenhouse gas emissions and dependence on fossil fuels. Supportive policies, such as subsidies for EV charging infrastructure and mandates for installation of charging stations, stimulate the demand for EV charging connectors.
Advancements in EV charging technology, particularly in fast charging capabilities, are spurring the demand for connectors that can handle higher power outputs efficiently. This includes developments in DC fast charging standards like CCS and improvements in connector design for reliability and durability. Investment in EV charging infrastructure by governments, utilities, and private companies is crucial for the growth of the EV market. The expansion of charging networks, both in terms of number of stations and geographical coverage, drives the demand for EV charging connectors.
EV Charging Connectors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 17.10% over the forecast period (2024-2032)
Based on Type segmentation, the CCS segment was predicted to show maximum market share in the year 2023, owing to its customized capabilities.
Based on Charging segmentation, the AC charging segment was the leading Charging in 2023, due to high investment in charging infrastructure.
Based on End-user segmentation, the commercial fleets segment was the leading End-user segment in 2023, owing to supportive government initiatives.
On the basis of region, Europe was the leading revenue generator in 2023, owing to greater adoption of EVs across the region.
EV Charging Connectors Market- Segmentation Analysis:
The Global EV Charging Connectors Market is segmented on the basis of Type, Charging, End User, and Region.
The market is divided into four categories based on Type: Type 1, Type 2, CCS, and Tesla connector. The CCS segment dominates the market. The CCS type offers greater flexibility and customized or combined charging solutions which is boosting market demand.
The market is divided into two categories based on Charging: AC charging and DC charging. The AC charging segment dominates the market. The DC charging segment is expected to grow at the fastest CAGR over the forecast period with battery innovations.
The market is divided into four categories based on End Users: public charging stations, residential charging, commercial fleets, and others. The commercial fleets segment dominates the market and is expected to maintain its high dominance during the forecast period. The high demand adoption of advanced charging stations at commercial places is boosting segment growth.
EV Charging Connectors Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe dominates the global market. The rapid expansion of charging infrastructure networks, including both public and private investments, influenced by government policies and mandates across European countries is contributing to market growth. In Asia Pacific, China is the largest market for electric vehicles globally, supported by government subsidies, regulations promoting EV adoption, and significant investments in charging infrastructure, including DC fast-charging networks.
EV Charging Connectors Market- Competitive Landscape:
The Electric Vehicle (EV) Charging Connectors market is characterized by a competitive landscape with several key players, each contributing to the development and evolution of charging infrastructure. Companies are increasingly focusing on smart grid integration and software solutions that optimize charging schedules based on grid conditions, energy prices, and user preferences. Companies like Tesla, IONITY, and others are expanding networks of high-power DC fast chargers to enable quicker charging times and facilitate long-distance travel to remain competitive in the market
Recent Developments:
In June 2023, Toyota Motor Corporation (Japan) announced plans to launch next-generation Battery Electric Vehicles (BEVs) and attain a full lineup by 2026 globally.
In September 2023, Yazaki Corporation announced that Yazaki Egypt had acquired a 67,000-square-meter area in the Fayoum investment-free zone to enhance the manufacturing capabilities.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL EV CHARGING CONNECTORS MARKET KEY PLAYERS
Tesla Inc.
ChargePoint
ABB
Bosch
EVBox
Siemens
IONITY
Schneider Electric
Delta Electronics
Tritium
Efacec
Webasto
Leviton
ClipperCreek
EVgo
Others
GLOBAL EV CHARGING CONNECTORS MARKET, BY TYPE- MARKET ANALYSIS, 2019-2032
Type 1
Type 2
CCS
Tesla Connector
GLOBAL EV CHARGING CONNECTORS MARKET, BY CHARGING- MARKET ANALYSIS, 2019-2032
AC Charging
DC Charging
GLOBAL EV CHARGING CONNECTORS MARKET, BY END USER- MARKET ANALYSIS, 2019-2032
Public charging stations
Residential charging
Commercial fleets
Others
GLOBAL EV CHARGING CONNECTORS MARKET, BY REGION- MARKET ANALYSIS, 2019-2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. EV Charging Connectors Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. EV Charging Connectors Market Snippet by Type
2.1.2. EV Charging Connectors Market Snippet by Charging
2.1.3. EV Charging Connectors Market Snippet by End User
2.1.4. EV Charging Connectors Market Snippet by Country
2.1.5. EV Charging Connectors Market Snippet by Region
2.2. Competitive Insights
3. EV Charging Connectors Key Market Trends
3.1. EV Charging Connectors Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. EV Charging Connectors Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. EV Charging Connectors Market Opportunities
3.4. EV Charging Connectors Market Future Trends
4. EV Charging Connectors Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. EV Charging Connectors Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. EV Charging Connectors Market Landscape
6.1. EV Charging Connectors Market Share Analysis, 2023
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. EV Charging Connectors Market - By Type
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2024 & 2032 (%)
7.1.2. Type 1
7.1.3. Type 2
7.1.4. CCS
7.1.5. Tesla Connector
8. EV Charging Connectors Market - By Charging
8.1. Overview
8.1.1. Segment Share Analysis, By Charging, 2024 & 2032 (%)
8.1.2. AC Charging
8.1.3. DC Charging
9. EV Charging Connectors Market - By End User
9.1. Overview
9.1.1. Segment Share Analysis, By End User, 2024 & 2032 (%)
9.1.2. Public charging stations
9.1.3. Residential charging
9.1.4. Commercial fleets
9.1.5. Others
10. EV Charging Connectors Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2024 & 2032 (%)
10.2. North America
10.2.1. Overview
10.2.2. EV Charging Connectors Key Manufacturers in North America
10.2.3. North America Market Charging and Forecast, By Country, 2019 - 2032 (US$ Million)
10.2.4. North America Market Charging and Forecast, By Type, 2019 - 2032 (US$ Million)
10.2.5. North America Market Charging and Forecast, By Charging, 2019 - 2032 (US$ Million)
10.2.6. North America Market Charging and Forecast, By End User, 2019 - 2032 (US$ Million)