COVID-19 Impact on the EV Charging Cables Market
The global EV charging cables market generated a revenue of
approximately $250 million in 2020, and it will exhibit huge expansion from
2021 to 2030, as per the estimates of
P&S Intelligence, a market research firm based in India. The factors
fueling the market surge are the growing deployment of electric vehicles (EVs),
increasing concerns being raised over the escalating air pollution levels, and
the burgeoning demand for public EV charging facilities and infrastructure.
With the soaring
adoption of EVs, the governments of many countries are actively focusing on
developing EV charging stations. Moreover, several governments are making huge
investments for developing and installing EV charging stations in various
public places. As per the International Energy Agency (IEA), the total number
of EV charging points around the world increased by nearly 44% from 2017 to
2018. The development of these stations is fueling the advancement of the
electric vehicle charging cables market.
Get the Sample Copy
of this Report @ https://www.psmarketresearch.com/market-analysis/electric-vehicle-charging-cables-market/report-sample
Depending on power
supply, the market is divided into direct current (DC) and alternating current
(AC) categories. Between these, the AC category is predicted to dominate the
market in the forthcoming years. This is credited to the surging installation
of charging facilities in various private settings such as homes and offices.
The market is also classified, on the basis of cable shape, into coiled and straight
categories. Of these, the straight category generated the higher revenue in the
past years.
Furthermore, this
category is predicted to hold the larger share in the market in the upcoming
years. This is ascribed to the lower maintenance and operating costs and the
greater ease of installation of these cables than the coiled ones. Across the
globe, the Asia-Pacific (APAC) region held the largest share in the electric
vehicle charging cables market in 2020, with China contributing the highest
revenue to the APAC market.
Explore Full Report
Description At: https://www.psmarketresearch.com/market-analysis/electric-vehicle-charging-cables-market
This market
research report provides a comprehensive overview of the market
- Future potential of the
market through its forecast for the period 2020– 2030
- Major factors driving the
market and their impact during the short, medium, and long terms
- Market restraints and their
impact during the short, medium, and long terms
- Recent trends and evolving
opportunities for the market participants
- Historical and the present
size of the market segments and understand their comparative future
potential
- Potential of on-demand
logistics services, so the market players make informed decisions on the
sales of their offerings
Comments
Post a Comment