The global EV charging connector market is projected to grow at a CAGR of 18.44% during the forecast period to reach USD 98 million by 2025 from an estimated USD 30 million in 2018.

EV connectors act as an EV coupler with charging pole of the station required for power transmission. The connectors help establish the connection of the battery of an EV with the charging point of the station. The EV connectors are designed according to the electrical specifications to synchronize with the features of the battery equipped in an EV.

By Type Segment: Increased demand for fast EV charging points is expected to drive the EV Charging Connector Market

The GB/T is the largest of all types of charging points followed by type 1 charging points in the EV Charging Connector Market and is expected to witness significant growth during the forecast period. The market growth of EV connectors can be attributed to factors such as shift in demand from AC charging points to DC fast charging points, which would charge EVs rapidly. The by type segment is the most promising market for EV connectors as it has huge demand and is expected to drive the future EV Charging Connector Market too.

By Level Type Segment: Level 3 is expected to dominate the EV Charging Connector Market

The charging level depends on the power output of the charging station and the corresponding time required to charge the EV. DC Level 3 requires significant infrastructure and service upgrades and consequently is the most expensive to install as compared to the other two levels. 

Level 3 EV connectors are predominantly used in the global EV Charging Connector Market. This type of charger can charge the vehicle from fully drained to 80% in less than 10 minutes. The level 3 EV connectors are appropriate for fast charging and fall in the range from 200 V to 600 V with a typical 45 kW off-board charger. With the rise in demand from AC charging to DC charging, the market for Level 3 EV connectors would rise.

Asia Pacific: China is expected to lead the Asia Pacific region

The Asia Pacific region is estimated to be the largest EV Charging Connector Market in 2018. The region comprises some of the fastest developing economies of the world such as China and India. The Asia Pacific region is the largest market for EVs because of government support in the form of grants, subsidies, and tax rebates and continuous improvement of charging infrastructure in countries such as Japan and China. Thus, the EV charging infrastructure would rise and drive the market for EV connectors. Continuously improving charging infrastructure and increasing vehicle range are the major factors which have contributed to Asia Pacific being the fastest growing market.

Key Market Players:

The major EV Charging Connector Market players include Yazaki (Japan), TE Connectivity (Switzerland), Sumitomo (Japan), Schneider Electric (France), HUBER+SUHNER (Switzerland), Tesla (US), Bosch (Germany), ITT (US), Amphenol (US), Siemens AG (Germany), ABB (Switzerland), and Fujikura (Japan).