Global EV Charging Connector Market, by Product Types (Chademo, Tesla, Other Product Types), by Voltages (AC Charging, DC Charging), By Charging Speeds (Slow, Fast, Rapid), By Vehicle Types (Passenger Vehicles, Commercial Vehicles) and by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032
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EV Charging Connector Market Overview:
The global EV charging connector market is projected to reach a valuation of USD 323.56 Mn by 2032 at a CAGR of 18.5%, from USD 59.26 Mn in 2022.
Charging connectors are used to charge Electric Vehicles (EVs). The transition from engine-driven vehicles to electric or battery-driven vehicles is being prompted for a variety of reasons, including the fact that electric vehicles are zero-emission vehicles that generate lesser noise pollution. Various charging methods, including a combination charging system and CHAdeMO (fast charging), are available, even for slow/fast charging. Electric vehicles feature either a Type-1 or Type-2 connector.
These are the most efficient charging techniques for electric vehicles. The different types of connectors that are currently in use in the automotive industry are SAE J1772 connectors and CHAdeMO connectors. Electric vehicle charging is not just confined to a power grid. This is because electric cars use an EV connector to charge and plugin. These connectors come in various shapes and sizes, but the two most common types of connectors are Type-1 and Type-2. The larger connector, Type-2, can be found on all Audi and VW electric vehicles, while the smaller Type-1 connector is used by Tesla electric vehicles. An EV charging connector is designed to supply power to electric vehicles.
It is used in place of the less common J1772 connector for plug-in hybrid and all-electric vehicles, such as the Nissan Leaf and Chevrolet Volt. The EV charging connector was designed by SAE International's Powertrain Engineering Committee and was approved by SAE International in 2009. Every day, millions of electric vehicles have their batteries charged at public EV charging stations. Along with the convenience of charging an electric car at a growing number of locations, there is also a need for plug types to be standardized. Presently, there are multiple types of connectors and they do not work across different brands and varying models of cars, which can have a negative impact on end-users.
Manufacturers of electric vehicles design, manufacture and sell their own charging systems with an appropriate connector to be used along with the charge station type they select.
A Type-2 socket can be found on a majority of slow/fast charge points. Occasionally, a cable will be attached instead. A cable with a CHAdeMO and a CCS connector is usually attached to all DC rapid charging stations.
Depending on the use, such as a home or public area, the electric charging connector might be single-phase or three-phase. In certain circumstances, electric charging can be done wirelessly, however, this would necessitate the installation of proper charging infrastructure.
Global EV Charging Connector Market Revenue (USD Mn), 2021–2031:
The increasing adoption of EVs is leading to a significant increase in the demand for fast charging connectors around the world. This is a primary factor that is propelling the further expansion of the EV charging connector market. Moreover, customers are gradually making the transition to electric vehicles as carbon emissions continue to increase, in turn reducing the negative impacts vehicles have on the environment. According to the International Automobile Association (IAE), global electric car sales surpassed 2.1 million units in 2019. During the same year, electric automobiles accounted for 2.6% of global car sales and around 1% of global car stock. Furthermore, increasing user awareness concerning the multiple benefits provided by EV connectors, such as the ability to operate as an EV coupler with the help of a charging pole at a respective station, as well as constructing an EV battery connection with the charging point of a station, are also notable elements drawing-in customers to this industry. Various market leaders, such as Tesla, ABB Ltd., etc., are working on increasing their product offerings in order to gain a larger segment of this market. For instance, in 2018, ABB released the Terra HP, one of the world's quickest EV chargers, which can give an EV up to 200 kilometers of range in just 8 minutes. This charger may be used at rest stop areas and gas stations along a highway. As a result of which, the market share of EV charging connectors, in terms of revenue, is anticipated to continue to expand steadily.
Electric vehicles are becoming increasingly popular, but a lack of charging stations is a major concern. One solution to this issue is to use an electric vehicle charging connector. There are two types of connectors in this market currently – the CHAdeMO and SAE Combo Type-1.
EV connector manufacturers are focusing on charging compatibility innovations and the catering of more efficient connectors to this market. The EV charging connector market is expected to grow exponentially as the number of electric passenger cars on the road increases globally.
The current situation with electric vehicle charging is that each manufacturer has its own type of connector. This makes it difficult for drivers to find an EV charging connector when on the road, and they often find themselves traveling more than 50 miles out of the way to get what they need. A new standard, called the Type-2, is being developed to make this situation easier on drivers. This standard will be universal and will work with any type of electric vehicle charger. The increasing lack of standards for EV connectors around the world is a primary reason impeding this market's revenue growth trajectory.
This research report on the global EV charging connector market includes major company profiles such as:
- AZAKI Corporation
- TE Connectivity
- Sumitomo Corporation
- Schneider Electric
- Robert Bosch GmbH
- ITT INC.
- ABB Ltd.
- Siemens AG
In 2018, at the EVS 30 show, I IIT Inc. showcased it's Liquid Cooled DC high power charging and bespoke AC charging solutions (the Electric Vehicle Symposium and Exhibition, Germany).
In 2017, Tesla modified its Model X and Model S designs with a new twin connector charge port technology that allows vehicles to accommodate several charging standards.
The Global EV Charging Connector Market Segmentation is Based on Product Types, Voltages, Charging Speeds, Vehicle Types, and Region
Based on Product Types
- Other Product Types
Based on Voltages
- AC Charging
- DC Charging
Based on Charging Speeds
Based on Vehicle Types
- Passenger Vehicles
- Commercial Vehicles
Based on Region
- North America
- South America
- Middle East & Africa
For the EV Charging Connector Market research study, the following years have been considered to estimate the market size:
Particular Scope Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Historic Year 2016 to 2020 Estimated Year 2022 Forecast Year 2023 to 2032
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