Electric vehicle (EV) high voltage cables are specialized electrical components designed to transmit high levels of electrical energy within electric vehicles. These cables are essential for the operation of EVs, as they facilitate the transfer of power between critical systems such as the battery, powertrain, charging systems and other electronic components. They are specifically engineered to handle high voltage and current loads while ensuring safety, efficiency and durability in demanding automotive environments.
The EV high voltage cable market consists of sales, by entities (organizations, sole traders and partnerships) that are a critical part of the electrical and electronic architecture of electric vehicles, enabling efficient energy transfer and supporting advanced vehicle functionalities. These cables are designed to withstand high temperatures, resist electromagnetic interference and maintain safety in various operating conditions.
The global EV high voltage cable market was valued at $891.54 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 14.00%.
Expansion Of EV Charging Infrastructure
During the historic period, the expansion of EV charging infrastructure supported the growth of the EV high voltage cable market. High voltage cables are essential components in the construction of these charging stations, enabling fast and efficient power delivery. The expansion of charging networks, particularly high-speed and ultra-fast chargers, requires cables capable of handling higher voltages and current loads. This infrastructure growth stimulates demand for advanced high voltage cables, encouraging manufacturers to innovate and scale production. For instance, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation (DOT), a US-based government department, between January 2021 and April 2023, about 19,000 EV (electric Vehicle) charging stations opened in the USA, increasing the number of electric vehicles charging stations in the country by nearly 50% in just over two years. Therefore, the expansion of EV charging infrastructure contributed to the growth of the EV high voltage cable market during the historic period.
Innovative EV Charging Cables With Dual Thermistors For Enhanced Safety And Performance
Leading companies in the EV high-voltage cable market are prioritizing the development of innovative charging cables and plugs equipped with dual thermistors. These thermistors enhance safety, by monitoring temperature fluctuations, preventing overheating and optimizing performance during high-power charging. This technology ensures that cables and plugs operate within safe temperature ranges, minimizing the risks of damage, fire or electrical faults during the charging process. For example, in January 2024, Volex Group, a UK-based company that designs and manufactures electrical cables and cable assemblies, launched 16A EV charging grid cables, plugs and high-voltage cables for Mode 2 AC charging, compatible with domestic sockets. This compatibility makes it easier for electric vehicle owners to charge their vehicles at home, thereby removing obstacles and encouraging the widespread adoption of electric vehicles. These cables connect to the in-cable control and protection device (IC-CPD) for safe charging of battery-powered electric vehicles (BEVs) and plug-in hybrid electric vehicle (PHEVs). The products meet industry standards and regional compliance requirements for broad compatibility.
The global EV high voltage cable market is fragmented, with large number of small players in the market. The top ten competitors in the market made up to 9.95% of the total market in 2023.
EV High Voltage Cable Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global EV high voltage cable market as it emerges from the COVID-19 shut down.
Reasons to Purchase
Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market research findings.
Benchmark performance against key competitors.
Utilize the relationships between key data sets for superior strategizing.
Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Where is the largest and fastest-growing market for EV high voltage cable? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The EV high voltage cable market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider EV high voltage cable market; and compares it with other markets.
The report covers the following chapters
Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by EV type, by voltage and by EV application.
Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the EV high voltage cable market.
Global Market Size And Growth- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment EV type, by voltage and by EV application in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
Competitive Dashboard- Briefs on competitive dashboard of major players.
Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Market Opportunities And Strategies- Information on recent developments in the market covered in the report.
Conclusions And Recommendations- This section includes recommendations for EV high voltage cable market providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By EV Type: BEV; HEV; PHEV; FCEV
2) By Voltage: High Voltage (1,001V To 3,000V); Very High Voltage (Above 3,000V)
3) By EV Application: Engine And Powertrain; Battery And Battery Management; Charging Management; Power Electronics; Other Applications
Companies Mentioned: Yazaki Parts Co. Ltd.; Aptiv plc; Leoni AG.; Lear Corporation; Sumitomo Electric Industries Ltd.