Electric Vehicle Charging Connector Industry Procurement Intelligence Report: Increased Sale Of EVs To Propel Procurement Need For EV Charging Connectors | Grand View Research, Inc.

Electric Vehicle Charging Connector Industry Procurement Intelligence Report: Increased Sale Of EVs To Propel Procurement Need For EV Charging Connectors | Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Nov. 24, 2021

SAN FRANCISCO, Nov. 24, 2021 /PRNewswire/ -- The global electric vehicle charging connecter market is expected to witness a boost at 19% CAGR from 2021 to 2025, as fuel prices are rising across the world. Electric vehicles have become the most obvious alternative for both consumer and automotive manufacturers. The global sales of electric vehicles in 2020 have crossed a 2 million mark despite the Covid-19 pandemic. Moreover, the sales are expected to increase by 20% to 30% in 2021. APAC and Europe are leading the market with 56% and 28% share respectively followed by North America (16%). This growth is majorly propelled by the favorable government policies in many countries. For instance, Chinese regulations enable the automakers in the country to meet their annual new vehicle efficiency standards by purchasing emissions credits that are generated by the sale of EVs, with the rate of credit higher for vehicles with advanced performance such as greater battery efficiency or range, but lower for plug-in hybrids.

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As e-mobility continues to gain traction in both consumer and commercial markets, the role of EV charging connectors in protecting the electrical grid, vehicle functionality, and financial transactions from security breaches is becoming very important. Organizations such as UL, ISO, and IEC are working to standardize and meet these goals. Alongside protecting charging processes, safeguarding financial transactions is also important in charging infrastructure. Most EV drivers who charge on the road have to sign up in advance for charging networks to access paid chargers. Level 2 and Level 3 chargers require payment, often using membership cards that link charging networks to a financial network capable of processing credit card payments. To counter this challenge Tesla comes up with a connector pair that enables drivers to pull up to a Supercharger and plugin, instantly sharing information that allows the Supercharger to identify the specific car and link to the financial system for contactless payment. The intelligence embedded in Tesla's proprietary connector configuration allows Tesla to set up Supercharging stations that do not have employees to manage cash or charge transactions.

Electric Vehicle Charging Connector Industry Procurement Intelligence report, by Grand View Research, deep dives into the following insights from the industry:

Electric Vehicle Charging Connector Industry Cost Intelligence – Key Components:

Grand View Research has identified the following key cost components for availing EV charging connector manufacturing:

Raw material, labor, and energy are the major cost components of an EV Charging Connector, accounts more than 60% of the total cost of manufacturing.

Electric Vehicle Charging Connector Industry Supplier Intelligence – Capability based ranking & selection criteria with weightage:

Operational Capabilities –

Functional Capabilities –

List of key suppliers in the electric vehicle charging connector industry:

Addon Services offered by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.

Our services include (not limited to):

Browse through Grand View Research's collection of procurement intelligence studies:

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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