According to the latest research report released by Markets and Markets, the global electric vehicle connector market is about 30 million US dollars in 2018. It is expected to increase to 98 million US dollars by 2025, with a compound annual growth rate of 18.44%.

2018 global electric vehicle connector market size reached 30 million US dollars

The increase in sales of electric vehicles and the consequent increase in demand for charging stations are the main reasons for the steady and rapid development of electric vehicle connectors. The electric vehicle connector can act as an electric vehicle coupler with the charging poles required for power transmission. The connector helps establish the connection of the battery to the charging point. Different EV connectors provide different current and power charging capabilities to increase efficiency.

By type, the increased demand for fast charging points is expected to drive the development of the electric vehicle connector market. GB/T is the largest of all Type 1 charging points and is expected to show significant growth during the forecast period. At the same time, the increased demand from AC charging points to DC fast charging points will also promote its market development.

The level of charge depends on the power output of the charging station and the corresponding time required to charge the electric vehicle. DC Level 3 requires a lot of infrastructure and service upgrades, so installation costs are highest compared to the other two levels. Level 3 electric vehicle connectors are primarily used in the global connector market. This type of charger is capable of 80% power charging in less than 10 minutes. This grade of connector is suitable for fast charging and is suitable for a typical 45 kW off-board charger for the 200 V to 600 V range. As the demand for AC charging to DC charging increases, the market for Level 3 electric vehicle connectors will rise.

Geographically, the Asia Pacific region is estimated to be the largest electric vehicle connector market in 2018. The region includes some of the fastest growing economies in the world, such as China and India. The Asia Pacific region is the largest market for electric vehicles because the government provides support in subsidies and tax rebates. In addition, countries such as Japan and China continue to improve their charging infrastructure. As a result, the EV charging infrastructure will rise and drive the market for its connectors.

2018 global electric vehicle connector market size reached 30 million US dollars

Continued improvements in charging infrastructure and vehicle models are the main factors driving the Asia Pacific region to become the fastest growing market. In addition, the level of pollution in economies such as Japan and China is worrying, driving demand for zero-emission vehicles, which has created huge demand for charging points for electric vehicles and electric vehicles in these countries.

From the manufacturer, Japan Yazaki, Swiss Tyco Electronics, Sumitomo Electric, Schneider Electric, Swiss News, Bosch, ITT, US Amphenol, Siemens, ABB, and Fujikura, Japan will become the world leader Manufacturer of electric car connectors.