Fast Charging Segment to Push Global Electric Vehicle Connector Market till 2024

Surging demand for electric vehicles coupled with increasing concerns related to pollution, and government schemes and incentives to drive global electric vehicle connector market through 2024

According to TechSci Research report, “Global Electric Vehicle Connector Market By Type, By Charging Level, By Charging Speed, By Voltage, By End User, By Region, By Company, Competition, Forecast & Opportunities, 2014 – 2024”, global electric vehicle connector market is projected to grow at a double-digit CAGR of 19% through 2024, owing to increasing adoption of electric vehicles. Several governments across the globe are empowering the reception of electric vehicles with strategies, which would quicken the appropriation of electric vehicle framework and electric vehicle connectors. Moreover, increasing research & development activities by various leading automobile companies to develop more advanced and affordable electric vehicles are anticipated to positively influence global electric vehicle connector market.

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Some of the major players operating in global electric vehicle connector market are Yazaki Corporation, TE Connectivity Ltd., Sumitomo Corporation, Schneider Electric, Huber+Suhner, Tesla, Inc. and Robert Bosch GmbH. Their continued research & development efforts to manufacture technologically advanced and affordable electric vehicle connectors are expected to intensify the market over the course of next five years. Increasing investments and continuous product developments by automotive companies in the electric vehicle connector market is also anticipated to fuel the market.

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