Electric Vehicle Connector Market to Gain Prominence in Automotive Sector with Rising Demand | Know COVID-19 Analysis | Top Companies- Huber+Suhner, Fujikura, Yazaki, Tesla
Market Highlights
Market Research Future published a research report on the Global Electric Vehicle Connector Market, which expected to progress with 20% CAGR from 2019–2024. The sudden outbreak of the COVID-19 virus and its impact on the industry are analyzed in granular detail.
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.
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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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.
Regional Study
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 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.
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TABLE OF CONTENTS:
1. Market Introduction
2. Research Methodology
3. Market Dynamics
4. Executive Summary
5. Market Factor Analysis
6. Electric Vehicle Connector Market, By Segments
7. Competitive Analysis
Continued…
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