Electric Vehicle (EV) Charging Connector: Introduction
- Electric vehicle (EV) charging connectors are used to charge an electric vehicle. Numerous reasons are prompting the switch from engine-driven vehicles to electric or battery-driven vehicles, as electric vehicles are zero emission and less noisy. The electric vehicle charging connector comprises various charging methods including combined charging system and CHAdeMO. These are the fastest charging methods available for electric vehicle charging.
- The electric charging connector can be single-phase or three-phase, depending on application of use such as home application or public space. In some cases, electric charging can be carried out wirelessly, which in turn would require appropriate charging infrastructure.
Key Drivers of Electric Vehicle (EV) Charging Connector Market
- Rise in fuel prices and population is a key factor that drives the electric vehicle market. Vehicle manufacturers are emphasizing on the development of electric vehicles, which in turn is estimated to boost the electric vehicle charging connector market. Major regions including Europe, Asia Pacific, and North America are trying to develop zero-emission vehicles, which in turn is projected to boost the EV charging connector market.
- Increase in pollution due to increase in vehicle traffic and exhaust gases is likely to be a major factor that fuels the demand for electric vehicles and subsequently, electric charging station. This, in turn, is anticipated to boost the electric vehicle charging connector market. As the major countries are trying to develop pollution-free smart cities. Electric vehicles would be a good option to achieve this goal, which in turn is likely to boost the electric vehicle charging connector market.
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Asia Pacific to hold prominent share of electric vehicle (EV) charging connector market
- Asia Pacific accounts for a major share of the global electric vehicle charging connector market. The region comprises rapidly developing countries and consequently, the demand for electric charging connectors is rising in the region. Increase in demand for electric vehicles and rapid development in electric charging infrastructure in major countries, including Japan and China, are key factors that boost the electric vehicle charging connector market.
- The market for electric vehicles is witnessing significant expansion in Asia Pacific due to the support of governments, in terms of tax subsidies. Affordable price and tax subsidies on the purchase of electric vehicles is estimated to boost the electric vehicle charging connector market in India, China, and South Korea. Japan, South Korea, and China are trying to move towards zero emission vehicles, this in turn is projected to boost the EV charging connector market.
Key players operating in electric vehicle (EV) charging connector market
The electric vehicle (EV) charging connector market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global electric vehicle (EV) charging connector market are:
- Continental AG
- Robert Bosch GmbH
- Yazaki Corporation
- Schneider Electric
- Siemens AG
- ITT Inc.
- ABB Group
- Sumitomo Corporation
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Global Electric Vehicle (EV) Charging Connector Market: Research Scope
Global Electric Vehicle (EV) Charging Connector Market, by Vehicle Type
- Passenger Vehicle
- Commercial vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Electric Vehicle (EV) Charging Connector Market, by Plug Type
- Type 1 (120 Volts)
- Type 2 (240 Volts)
- Type 3 (480 Volts)
Global Electric Vehicle (EV) Charging Connector Market, by Charging Method
- Combined Charging System
Global Electric Vehicle (EV) Charging Connector Market, by Current
- Alternating Current (AC)
- Direct Current (DC)
Global Electric Vehicle (EV) Charging Connector Market, by Charging Speed
Global Electric Vehicle (EV) Charging Connector Market, by Electric Vehicle Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric vehicle
Global Electric Vehicle (EV) Charging Connector Market, by Sales Channel
Global Electric Vehicle (EV) Charging Connector Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.