Global Electric Vehicle Connector Market Size, Share, Forecast Report, 2020-2027

Electric vehicle connector is a part of the electric vehicle coupler used for the purpose of power transfer and information exchange. The electro connector is present in different shapes and standards such as the SAE J1772 is a North American standard for electric connectors, IEC62196 Type II in Europe and GB/T 20234 in China. In addition, the key players such as Tesla and Delphi offer a complete line of all global charging standards. Furthermore, an electric vehicle connector shape is varying as per the power supply range and the choice of connector depends on the charger type vehicle inlet port. The Electric Vehicle Connector is a simple solution for charging hybrid electric vehicles and plug-in electric vehicles, which is ideally suited to stationary charging.

The major key driving factors for the growth of this market are the improving charging infrastructure in countries such as China, Germany, Norway, US, and Japan, increasing production and sales of electric vehicles globally, rapidly growing charging points across globe, increasing long distance drive by electric vehicles, growing demand for environment friendly vehicles, and the growing demand for fast charging vehicles. The Electric Vehicle Connector is a simple solution for charging hybrid electric vehicles and plug-in electric vehicles, which is ideally suited to stationary charging.

The lack of standardization for connectors, high cost, and energy loss during transmission are considered as the key restraining factors for the growth of this market. However, the growing disposable income from countries such as China, India, Germany, and others, and growing demand for vehicle to grid charging station are providing an ample opportunity growth of this market.

The global electric vehicle connector market is projected to witness an exponential growth during the study period. The rising production of electric vehicles are accelerating the growth of EV connector market. In addition, the growing support, incentives, and subsidies from government across the globe for the production and sales of electric vehicles, are driving the growth this market.

The one of the key factors considered for the growth of this market is the growing competition between electric vehicle connector system producers and increasing support from the local government of different countries has fortified the producers to design the connecter system as per the guidelines set by governing bodies across different regions.

Electric Vehicle Connector Market Segmentation
The global Electric Vehicle Connector Market is segmented on the basis of connector type, charging type, power supply range, current supply, charging station, charging speed, component, vehicle type, application, and region. On the basis of connector type, the market has been segmented into type1, type2, type3, and others. On the basis of power supply range, the market has been segmented into 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), and level 4 (>DC 600 V, Above 240 kW). The segmentation based on current supply charging include AC charging and DC charging. On the basis of charging station, the market has been segmented into wall mounted and floor mounted. On the basis of charging speed, the market has been segmented into slow, fast and rapid charger. On the basis of component, the market has been segmented into leads, adaptor, pins, wallbox, and others. On the basis of vehicle type, the market has been segmented into battery EV, plug-in EV, and hybrid EV. On the basis of application, the market has been segmented into residential and commercial.

Geographically, the global EV Connector Market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share during the forecast period owing to growing charging infrastructure from China and Japan. Moreover, increased production and sales of electric vehicle is expected to boost the demand for electric vehicle connector market in this region. Furthermore, the growing disposable income from countries such as China, India and other countries, and increasing population, urbanization, and rising focus to reduce the vehicle emissions are contributing in the growth of this market in this region.

The prominent players in the global Electric Vehicle Connectors Market include Yazaki (Japan), Schneider Electric (France), Tesla (US), Bosch (Germany), ABB (China), Siemens AG (Germany), Fujikura (Japan), Amphenol (US), Huber+Suhner (Switzerland), and Sumitomo (Japan).