Electric vehicles (EVs) are experiencing high demand due to their numerous advantages, including low carbon emissions, comfort, fuel economy, and the convenience of home charging. Despite challenges posed by the COVID-19 pandemic, experts anticipate that government efforts to boost EV sales will drive demand for the electric vehicle connector market size in the coming years.
Many companies in the market have robust distribution networks, diverse product ranges, and employ strategies like innovation, agreements, and collaborations to strengthen their market position. The proliferation of EV charging points is also expected to stimulate market growth.
Electric Vehicle Connector Market Segmentation: The electric vehicle connector industry is segmented by connector type, charging type, power supply range, current supply, charging station, charging speed, component, vehicle type, and application.
- Connector Types: Type1, Type2, Type3, and others.
- Power Supply Ranges: Level 1 (1.4 kW–1.9 kW), Level 2 (AC 240 V up to 19.2 kW), Level 3 (DC 200 V–600 V up to 240 kW), and Level 4 (>DC 600 V, above 240 kW).
- Current Supply Charging: AC charging and DC charging.
- Charging Station: Floor mounted and wall mounted.
- Charging Speed: Fast, rapid, and slow charger.
- Components: Pins, adaptor, leads, wallbox, and others.
- Vehicle Types: Plug-in EV, hybrid EV, and battery EV.
- Applications: Residential and commercial.
Electric Vehicle Connector Market Regional Study: The regional study includes Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW).
- APAC: APAC is expected to lead the global market due to increasing demand for EV connectors, growth in the electric automotive sector, and the expansion of electric vehicle charging stations. Initiatives by regulatory bodies to promote green vehicles and China's leadership in the EV industry contribute to market growth.
- North America: Governments in North America are actively promoting electric vehicles through strict policies and regulations. High pollution levels in the United States and Canada are driving demand for zero-emission vehicles, benefiting the electric vehicle connector market.
Significant Contenders: Key players in the electric vehicle connector industry include Huber+Suhner (Switzerland), Fujikura (Japan), Yazaki (Japan), Tesla (US), Bosch (Germany), Schneider Electric (France), ABB (China), Siemens AG (Germany), Sumitomo (Japan), Amphenol (US), and others.
Latest Developments: In April 2020, CHAdeMO Association released CHAdeMO 3.0, an electric vehicle quick-charging connector. It features liquid-cooling technology, compact design, and a smaller diameter cable.