Global Electric Vehicle Charging Cables Market to Reach $16.6 Billion by 2030
The global market for Electric Vehicle Charging Cables estimated at US$1.5 Billion in the year 2023, is expected to reach US$16.6 Billion by 2030, growing at a CAGR of 40.6% over the period 2023-2030. Alternate Charging (AC) Cables, one of the segments analyzed in the report, is expected to record 35.2% CAGR and reach US$8.6 Billion by the end of the analysis period. Growth in the Direct Charging (DC) Cables segment is estimated at 49% CAGR for the next 7-year period.
The U.S. Market is Estimated at $501.2 Million, While China is Forecast to Grow at 38.9% CAGR
The Electric Vehicle Charging Cables market in the U.S. is estimated at US$501.2 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.7 Billion by the year 2030 trailing a CAGR of 38.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 35.4% and 34.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 28.3% CAGR.
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