CHICAGO, May 10, 2021 /PRNewswire/ — According to the new market research report “EV Charging Cables Market by Power Supply , Length (2-5 Meters, 6-10 Meters, and >10 Meters), Shape , Mode, Charging Level, and Region – Global Forecast to 2027”, published by MarketsandMarkets™, the global EV Charging Cables Market is projected to grow at a CAGR of 39.5%, to reach USD 3,173 million by 2027 from an estimated USD 431 million in 2021.
Tier I suppliers include leading OEMs such as Leoni AG, TE Connectivity, Aptiv, Coroplast, and Phoenix Contact.
In addition, increasing demand of electric vehicle owners to reduce the charging time of electric vehicle would further drive the market growth of public charging stations.
Coiled cables, also known as spiral cables, are easy to maintain as they do not spread over the surface like straight cables.
The market growth in North America can be attributed to the increasing projects undertaken by OEMs such as Tesla and Ford to develop charging stations in the region.
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