Europe EV Charging Cables Market Share and Forecast by 2028

The EV charging cables market in Europe is expected to grow from US$ 106.80 million in 2021 to US$ 963.95 million by 2028; it is estimated to grow at a CAGR of 36.9% from 2021 to 2028.

Evolving consumer preferences and technological advancements are helping to reshape the EVs industry significantly. China is one of the leading regions in terms of EV adoption. China is also the world's largest automobile market, with a rapidly increasing number of new fully electric or plug-in hybrid car sales. In Europe, Germany is offering financial incentives to consumers to purchase EVs. OEMs and suppliers across the region are preparing for the shift toward EVs and away from internal combustion engine (ICE) vehicles. With the increasing demand for electric vehicles, the scope of installing charging facilities at residential, commercial, and government buildings is also growing. Charging stations at public destinations and workplaces are assisting in bolstering the acceptance. Projects for the installation of EV charging stations are driving the demand for EV charging cables.

In 2020, the impact of COVID-19 differed from nation to nation across the European region. In the region, major countries which were affected by the pandemic of COVID-19 are the United Kingdom, Italy, Russia, France, Germany, and Spain. Due to increasing number of recorded cases, some of these nations had to impose stringent and longer lockdown along with social isolation in 2020. The lockdown affected electric car sales, but there were early signs of electric vehicle market resilience for two main reasons. First, policy support was strong – in particular in Europe as 2020 was an important target year for emissions standards. Purchase incentives increased, notably in Germany. Second, continued declines in battery costs, upgraded original equipment manufacturer (OEM) offers in both model choice and performance, fleet operators initiating their technology transition and the enthusiasm of electric car buyers (often affluent households less affected by the economic downturn) provided fertile ground for continued EV uptake.  But somehow due to COVID-19 pandemic across the globe, the Europe electric vehicle market has been negatively affected as the electric vehicle manufacturing units have been shut down due to the imposed lockdown in major countries across the Europe. In addition, the unavailability of skilled labor has further affected the market growth. In Europe electric vehicles have witnessed a growing trend of acceptance in Europe as charging infrastructure is being improved, the production cost falls, and governments take efforts to bring down the carbon emission generated by the transportation sector. According to the International Council on Clean Transportation report, Europe is now the second-largest electric vehicle market in the world by volume, behind China and ahead of the U.S. This tremendous growth in demand for electric vehicles in Europe is expected to drive the growth of the Europe EV charging cable market over the forecast period.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the EV charging cables market. The Europe EV charging cables is expected to grow at a good CAGR during the forecast period.

 

Europe EV Charging Cables Market Revenue and Forecast to 2028 (US$ Million)

Europe EV Charging Cables Market Segmentation

Europe EV Charging Cables Market – By Type

• Public
• Private

Europe EV Charging Cables Market – By Power Supply Type

• Alternate Charging
• Direct Charging

Europe EV Charging Cables Market – By Cable Length

• 2 -5 metres
• 6 -10 metres
• >10 metres

Europe EV Charging Cables Market – By Charging Level

• Level 1
• Level 2
• Level 3

Europe EV Charging Cables Market – By Jacket Material

• All Rubber
• Thermoplastic TPE
• PVC

Europe EV Charging Cables Market- By Country

• Germany
• France
• UK
• Italy
•  Russia
• Rest of Europe

Europe EV Charging Cables Market-Companies Mentioned

• Aptiv PLC
• Coroplast Group
• General Cable Technologies Corporation
• Phoenix Contact E-Mobility
• SINBON Electronics Co., Ltd.
• TE Connectivity Corporation

Europe EV Charging Cables Report Scope