In 2020, about 370 electric car models were available worldwide, i.e., a 40% increase from 2019. Asia has the most comprehensive offering and a less consolidated automotive sector, making the region the world’s largest EV market destination. However, in 2020, a massive rise in the number of electric vehicle models was witnessed in Europe. The UK, France, Norway, and Sweden witnessed high demand for electric vehicles. Also, the private sector worldwide is demanding zero-emission commercial vehicles, which is compelling OEMs to manufacture EVs. DHL Group, FedEx, Amazon, SF Express, Walmart, Suning, UPS, and many more are creating demand for commercial electric vehicles to contribute toward lowering carbon emission in the environment.
Leoni AG, TE Connectivity, BESEN, Aptiv and Coroplast – Prominent Market Participants in EV Charging Cable Market
Another factor impacting the growth of the EV charging cables market is the availability of fast chargers worldwide. In Europe, fast chargers were being introduced at a higher rate than slow ones. At present, there are over 38,000 public fast chargers in Europe, increase 55% in 2020. Around 7,500 are present in Germany; 4,000 in France; 6,200 in the UK; and 2,000 in the Netherlands. Similarly, the US accounted for 17,000 fast chargers, out of which approximately 60% are Tesla superchargers. South Korea has 9,800 fast chargers. The availability of fast chargers in huge quantities is positively driving the demand for EV charging cables.
The government of India has instituted different policies to encourage the development of charging infrastructure networks within the country. Also, the transition to electric mobility is a vital global strategy for decarbonizing the transport sector. India is among a handful of countries supporting the global EV30@30 campaign, which targets to have a minimum of 30% new vehicle sales be electric by 2030. Steps for promoting sales of electric vehicles will directly impact the demand for building charging infrastructure. Moreover, governments worldwide are looking forward to increase consumer incentives, tax exemptions, and purchase-price subsidies to boost EV purchases. This factor will help in proliferating the growth of the market globally.
Leoni AG, TE Connectivity, BESEN, Aptiv and Coroplast are some of the key market players operating in the global environmental consulting services market. The listing of key players is derived by considering multiple factors such as overall revenue, current environmental consulting services product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities.
Most of the market initiatives were observed in North American region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | News | Country |
| 2021 | The CHARX connect mode-3 charging cable product family from Phoenix Contact is expanding and launched a new AC charging cables for charging current up to 48 A. For the North American e-mobility market, UL-certified AC charging cables with a rated current capacity of 48 A are now available. | North America |
| 2020 | SINBON Electronics Co., Ltd. was named one of the top ten high-tech electric vehicle (EV) solution firms in Asia-Pacific by the automotive journal “Autotech Outlook” for two consecutive years. Since 2012, the company has been committed to expanding the EV sector and has already established itself as a significant provider of wiring harnesses for charging systems for electric vehicles. | North America |
