According to a new report, published by KBV research, The Global EV Cables Market size is expected to reach $23.1 billion by 2030, rising at a market growth of 15.7% CAGR during the forecast period.
The Copper segment is leading the Global EV Cables Market by Shielding Type in 2022; thereby, achieving a market value of $13.0 billion by 2030. Compared to most shielding kinds, it has a longer life cycle, reasonably high coverage, moderately high flexibility, and outstanding shielding efficiency at both low and high temperatures. Copper is a widely available and relatively affordable material, making it a practical choice for cable shielding solutions. Additionally, this type of shielding is compatible with various types of connectors, making it relatively straightforward to integrate shielded cables into existing systems or devices.
The Engine & Powertrain segment is showcasing a CAGR of 16% during (2023 - 2030). The powertrain of a motor vehicle constitutes the functional core of the vehicle. The engine, transmission, final drive, differential, and drive shafts are located within the powertrain. Designers are switching from traditional internal combustion engine (ICE) car architecture to hybrid or totally electric designs as the demand for cleaner technologies rises. The electrification of numerous components using cables, with motors and electric pumps replacing heavier, less effective mechanical and hydraulic systems, is what is driving these advancements in powertrain technology.
The High segment acquired the highest revenue in the Global EV Cables Market by Voltage in 2022; thereby, achieving a market value of $9 billion by 2030. With the rising demand for electric vehicles, the demand for high-voltage cables is anticipated to expand quickly. Electric vehicles utilize high-voltage cables to transfer energy from the battery to the electric motor. Usually composed of copper or aluminum, the high-voltage cables are insulated with a substance that resists high temperatures. The cables' design is such that they can carry high currents without overheating. The demand for high-voltage and high-current drive systems has grown as HEVs' and EVs' performance has improved.
The Connectors/Terminals segment is exhibiting a CAGR of 16.1% during (2023 - 2030). The need for vehicle-to-everything (V2X) charging connectors is rising as EV demand grows. Robust connectors that can handle EV charging will be essential for the development of the future automotive industry as well as the grid and home energy systems as EV use increases. Therefore, it is anticipated that the growing need for V2X solutions would expand the applications and use of EV connectors in EV and its related sectors.
The BEV segment generated maximum revenue in the Global EV Cables Market by EV Type in 2022; thereby, achieving a market value of $11.4 billion by 2030. The segment will grow as a result of an increase in R&D efforts by industry participants to create enhanced battery electric vehicles (BEVs) with improved driving range and cutting-edge technical features. Substantial market opportunities are being developed for automotive OEMs as a result of fleet operators' intense focus on replacing aging, polluting cars with fully-electric vehicles in order to achieve clean mobility solutions.
The Silicon Rubber Insulation segment is experiencing a CAGR of 15.9% during (2023 - 2030). One of the most often utilized materials for EV cable insulation worldwide is silicon rubber insulation. It is regarded as a material with a high tear resistance when treated. Additionally, it is flexible, giving cables a good range of dielectric strength. High abrasion resistance, effective anti-friction, and strong chemical resistance are all characteristics of silicon rubber.
The Asia Pacific region dominated the Global EV Cables Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9.4 billion by 2030. The Europe region is anticipated to grow at a CAGR of 15.2% during (2023 - 2030). Additionally, The North America region would register a CAGR of 15.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/ev-cables-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of HUBER+SUHNER AG, TE Connectivity Ltd., Leoni AG, Aptiv PLC, Nexans S.A., Sumitomo Electric Industries, Ltd., Elkem ASA (Bluestar Elkem International Co., Ltd. S.A.), Sinbon Electronics Co., Ltd., Coroplast Fritz Müller GmbH & Co. KG, and Philatron Wire & Cable
By Shielding Type
By Application
By Voltage
By Component
By EV Type
By Insulation Material
By Geography
Companies Profiled
Unique Offerings 
