electric vehicle charging connector

An electric vehicle (EV) charging connector is a device that is used to connect an EV to a charging station or a power source to charge its battery.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, June 7, 2024 /EINPresswire.com/ -- The global Electric Vehicle Charging Connector Market is experiencing growth due to several factors, including government support for the adoption of electric vehicles (EVs), demand for fast chargers, and the development of charging infrastructure. However, connector standardization and the overheating issue with the charger or connector are hampering the growth of the electric vehicle charging connector market. On the contrary, expansion of infrastructure, growth of service and support standards, and introduction of vehicle-to-grid (V2G) solutions are expected to offer remunerative opportunities for the expansion of the electric vehicle charging connector market in the upcoming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A106800

The charging connector typically consists of a plug on one end, which is inserted into the charging port of the EV, and a socket on the other end, which is connected to the charging station. The plug and socket are designed to securely fit together and ensure a safe and efficient transfer of electricity. Modern charging connectors often incorporate additional features such as locking mechanisms to prevent accidental disconnections, communication interfaces for data exchange between the vehicle and the charging station, and advanced safety features like ground fault protection.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Sumitomo Corporation, TE Connectivity, Yazaki Corporation, Schneider Electric, Robert Bosch GmbH, Tesla, ABB, Siemens, Amphenol Corporation, Fujikura

Based on end user, the residential segment held the highest market share in 2022, accounting for nearly three-fourths of the global electric vehicle charging connector market revenue, and is estimated to maintain its lead position throughout the forecast period. Residential charging connectors allow electric vehicle owners to conveniently and safely charge their vehicles at home, providing a reliable and accessible charging solution for daily use. However, the commercial segment is projected to manifest the highest CAGR of 17.8% from 2023 to 2032, as commercial connectors play a crucial role in enabling EV owners to charge their vehicles while away from home, providing them with the flexibility to travel longer distances and rely on public charging infrastructure for convenient recharging options.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A106800

Residential charging connectors play a crucial role in enabling EV owners to conveniently and safely charge their vehicles at home, providing a reliable and easily accessible charging solution for daily use. In March 2023, the Minister of State (MoS) for Heavy Industries informed Parliament about the significant growth of electric vehicles (EVs) in India. The data collected until March 2023 revealed that there were 2.17 million registered EVs in the country. Among the states, Uttar Pradesh emerged as the leader with over 465,000 EV registrations, followed by Maharashtra with 226,000 registrations. Delhi secured the third position with 203,000 registrations, while Bengaluru held the fourth position with 183,000 charging stations. It's worth noting that the number of registered vehicles corresponds to the number of residential connectors since each vehicle requires a connector for recharging purposes.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific held the highest market share in 2022, accounting for more than two-fifths of the global electric vehicle charging connector market revenue, and is estimated to maintain its dominance throughout the forecast period. This is due to the rapid growth in the sales of electrical vehicles, due to which there is a growth in the electric vehicle charging connector market. The rise in sales is due to the government incentives in the various regions and the developments made by the various manufacturers. However, North America is projected to manifest the highest CAGR of 19.1% from 2023 to 2032, owing to the rise in the price of oil in recent years, which increases the long-term cost benefits of electrical vehicles.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/a5c13383b18ff092723e237e66424d7d

The demand for electric vehicle charging connector is anticipated to increase owning to multiple factors. There has been a growing global shift towards sustainable transportation, with governments, organizations, and individuals increasingly adopting EVs as an environmentally friendly alternative to traditional combustion engine vehicles. As the EV market expands, so does the need for efficient and convenient charging infrastructure, which includes a higher demand for charging connectors.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By type, the Tesla segment dominated the EV charging connector market in terms of growth rate.

By charging level, the level 3 segment is anticipated to exhibit a remarkable growth during the forecast period.

By charging speed, the fast charging segment is anticipated to exhibit a remarkable growth during the forecast period.

On the basis of end user, the commercial segment is anticipated to exhibit a remarkable growth during the forecast period.

By region, the North America region is anticipated to exhibit a remarkable growth during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Electric Scooter and Motorcycle Market - https://www.globenewswire.com/en/news-release/2022/09/05/2509720/0/en/Electric-Scooter-and-Motorcycle-Market-To-Portray-93-9-Billion-by-2031-Allied-Market-Research.html

Electric Vehicle Market - https://www.globenewswire.com/en/news-release/2023/10/23/2764378/0/en/Electric-Vehicle-Market-EV-Industry-Is-Set-to-Reach-an-Estimate-of-823-75-Billion-by-2030-at-a-Compound-Annual-Growth-Rate-CAGR-Of-18-2-Allied-Market-Research.html

Electric Vehicle Motor Market - https://www.globenewswire.com/en/news-release/2022/11/21/2560019/0/en/Electric-Vehicle-Motor-Market-Size-to-Reach-34-4-Billion-by-2031-Allied-Market-Research.html

David Correa
Allied Market Research
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