Electric Vehicle Connector Market Latest Developments
Electric Vehicle Connector Market
April 2020
CHAdeMO Associated recently released the CHAdeMO 3.0, which is electric vehicle quick-charging connector. It is a liquid-cooling technology-based
connector that is compact and light and comes with a smaller diameter cable.
Electric Vehicle Connector Main
Boosters and Key Deterrents
Electric vehicles note high demand as they outperform other vehicle
types, offering various benefits including low carbon emission, comfortable
drive, higher fuel economy, convenience of charging at home, reduced sound from
engine and more. However, the global auto industry is experiencing a rough
patch due to the recent COVID-19 crisis. The pandemic has led to uncertainties
across almost every industry, but experts expect the electric vehicle
manufacturers to benefit from the intense efforts being given by the government
to revive the EV sales. Considering these factors, one can safely assume that
the demand for electric vehicle connector market can boom in the following years.
A vast number of companies in the market boast of well-built
distribution networks, which contributes largely to the market growth for
electric vehicle connectors. Industry players also offer a widespread product
range and adopt various hacks like product innovation, agreements and collaborations
to solidify their market position. Surge in EV charging points can also induce
market growth in the approaching years.
Electric Vehicle Connector Market
Segmentation
The electric vehicle connector industry has been extensively
covered in the report, taking into account segments like connector type,
charging type, power supply range, current supply, charging station, charging
speed, component, vehicle type and application.
The market segmentation as per the connector type comprises type1,
type2, type3, and others.
The power supply ranges covered in the market study include level1
(1.4 kW–1.9 kW), level2 (AC 240 V Up to 19.2 kW), level 3 (DC 200 V–600 V Up to
240 kW), as well as level 4 (>DC 600 V, Above 240 kW).
·
The
segmentation with respect to current supply charging are AC charging as well as
DC charging.
·
The charging
station-based market segments are floor mounted and wall mounted.
·
Charging
speed-wise market dissection includes fast, rapid and slow charger.
·
The components
covered are pins, adaptor, leads, wallbox, and others.
·
Vehicle types
that use connectors are plug-in EV, hybrid EV and battery EV.
·
The primary applications
of electric vehicle connectors are residential as well as commercial.
Electric Vehicle Connector Market
Regional Study
The regional study of the EV connector market comprises Europe, APAC
or Asia Pacific, North America, and RoW or the Rest of the World.
MRFR analysts find it highly conceivable that APAC can reach the
top spot in the global market, thanks to the spike in the demand for EV
connectors in line with the growth of the electric automotive sector. The
increasing number of electric vehicle charging stations also favors the
electric vehicle connector market in the region.
The vast number of initiatives planned by regulatory bodies to
boost the use of green vehicles, by installing charging stations that publicly
accessible can benefit the regional industry. Besides, China is known as the leader
in the global electric vehicle industry, characterized by a high number of EV
charging stations as well as increased level of electric vehicle production.
This contributes majorly to the market growth for EV connectors in the region.
The government in North America is actively focused on prompting
the use of electric vehicles, armed with strict policies and regulations. These measures being
undertaken are proving to be quite favorable for the electric vehicle
infrastructure as well as electric vehicle connector market in the region. The
alarming surge in pollution levels across the United States (U.S.) and Canada
is also boosting the demand for zero emission vehicles, which translates to
better growth prospects for the electric vehicle connectors during the
evaluation period.
Significant Contenders
Significant contenders operating in the electric vehicle connector industry are Huber+Suhner (Switzerland), Fujikura
(Japan), Yazaki (Japan), Tesla (US), Bosch (Germany), Schneider Electric (France),
ABB (China), Siemens AG (Germany), Sumitomo (Japan), Amphenol (US), to mention
a few.
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