The North America Electric Vehicle Charging Connector Market would witness market growth of 18.3% CAGR during the forecast period (2023-2030).
In an automotive, each electrical system is guaranteed to have reliable power distribution by connectors. In the event of faults, they also assist in enabling operational systems to continue operating. The EV charging station can run on AC or DC electricity. The types of EV charging connectors are divided into groups based on the power supply. The creation and improvement of EV charging connectors is accelerating quickly.
This is mostly because current high-speed EV charging requirements are being met, and EV owners may now charge their vehicles using both AC and DC power sources. The market is anticipated to increase due to the quick development and innovation of the EV connector.
In 2022, 6300 fast chargers were erected in the United States, with Tesla Superchargers accounting for nearly three-quarters. The end of 2022 saw 28000 fast chargers on hand. Following government approval of the National Electric Vehicle Infrastructure Formula Program (NEVI), deployment is anticipated to speed up in the upcoming years.
In the world, North America has one of the most developed automotive industries. The North American Free Trade Agreement (NAFTA) has helped the region's automobile industry grow. The United States, Mexico, and Canada Agreement (USMCA), which has effects on the North American supply chain, has also increased the pace at which passenger cars are becoming electrified. High-end passenger car demand was fueled by the region's substantial consumer base and high levels of disposable income. The growing demand for autonomous vehicles and cruise control in high-end cars will, therefore, lead to growth in the regional market market.
The US market dominated the North America Electric Vehicle Charging Connector Market by Country in 2022; thereby, achieving a market value of $33.6 Million by 2030. The Canada market is estimated to grow at a CAGR of 21% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 19.9% during (2023 - 2030).
Based on End User, the market is segmented into Residential and Commercial. Based on Type, the market is segmented into CCS, Chademo, GB/T and Others. Based on Charging Speed, the market is segmented into Slow and Fast. Based on Charging Level, the market is segmented into Level 3, Level 2 and Level 1. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Electric Vehicle Charging Connector Market is Projected to reach USD 181.2 Million by 2030, at a CAGR of 18.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., Siemens AG, Schneider Electric SE, Robert Bosch GmbH, TE Connectivity Ltd., Yazaki Corporation, HUBER+SUHNER AG, ITT, Inc., Amphenol Corporation, Tesla, Inc.
By End User
By Type
By Charging Speed
By Charging Level
By Country
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