Report ID: UCMIG20D2070
Report ID:
UCMIG20D2070 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market size for electric vehicle (EV) charging cables was valued at USD 208.0 million in 2019 and is projected to grow at a CAGR of 25.4% from 2020 to 2027. The market is expected to be driven by the increasing adoption of EVs, rising demand for fast-charging cables for EVs, and rapid development of electric vehicle supply equipment. For instance, in 2018, the global electric car fleet size exceeded 5.1 million vehicles, marking an increase of 2 million from the previous year, which is expected to contribute to the market's growth during the forecast period.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electrical Components & Equipment by segment aggregation, the contribution of the Electrical Components & Equipment in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG20D2070