Global Electric Vehicle Charging Socket Market to 2028 - Players Include ABB, Sumitomo, ITT and Tesla

Market Overview:
The Electric Vehicle Charging Socket Market is expected to grow at a significant growth rate over the forecast period 2022-2028, considering base year as 2021.

An equipment known as a charging station provides the electricity needed to charge plug-in electric vehicles. It is sometimes referred to as a charging station or as equipment for electric vehicles. AC charging stations and DC fast chargers are the two main categories. More than 80% of EV owners charge their vehicles at home because it is practical and affordable to do so. Most electric vehicles have on-board chargers that let owners connect their vehicles straight to a standard 15A charging outlet. The market for electric car charging sockets is likely to grow throughout the anticipated period due to the high demand for these devices.

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Market Dynamics:
Driver:
Vehicle charging sockets are playing an increasingly crucial role in safeguarding the electrical grid, vehicle functionality, and financial transactions against security breaches as e-mobility continues to gain headway in both consumer and commercial markets. Companies like UL, ISO, and IEC are attempting to standardize and achieve these objectives. Safeguarding financial transactions is crucial in charging infrastructure, in addition to securing charging procedures. In order to access paid chargers, the majority of EV drivers that charge on the go must first register with charging networks. Payment is necessary for Level 2 and Level 3 chargers, which are frequently paid for through membership cards that connect charging networks to a banking network able to accept credit card payments. Tesla develops a connector pair to address this issue, allowing users to pull up to a Supercharger and plugin, instantaneously exchanging data that enables the Supercharger to recognize the particular vehicle and connect to the financial system for contactless payment. Tesla can set up Supercharging stations without staff to handle payments or charge transactions thanks to the intelligence built into its unique connector design.

Market Segmentation
Electric Vehicle Charging Socket Market
By Type
• Type1
• CCS
• Chademo
• GB/T
• Tesla
By Charging level
• Level 1
• Level 2
• Level 3

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)

Key Players For The Electric Vehicle Charging Socket Market
• Yazaki
• TE Connectivity
• Sumitomo
• Schneider Electric
• HUBER+SUHNER
• Tesla
• Bosch
• ITT
• Amphenol
• Siemens AG
• ABB
• Fujikura and other major key players.

Key Industry Developments In The Electric Vehicle Charging Socket Market
September 2022, The unveiling of the all-purpose EV charging outlet BOLT LITE has been announced by the BOLT EV charging company. This Made in India plug functions with the current AC power supply at home and is compatible with all portable chargers that are included with any EV.

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COVID-19 Impact On The Electric Vehicle Charging Socket Market
COVID-19's effects have significantly altered the business environment for 2020 and had a detrimental effect on both production and sales across the board for the automobile industry. The COVID-19 epidemic caused a significant blow to the global economy. Global sales of electric vehicles were, on average, 15% lower in the first half of 2020 than in 2019. The growth of the Electric Vehicle Charging Socket business was adversely impacted by the drop in electric car sales. However, it is anticipated that future market acceptance would be favored by the economic recovery and governments gradually removing lockup restrictions.

Main Objective of the Report
The report includes an inside and out valuation concerning the future progressions depending on the past information and current conditions of the market. It gives a comprehensive perspective on the worldwide Electric Vehicle Charging Socket market to settle on astute choices with respect to future changes. The examination group has researched administrators, central participants on the lookout, topographical fracture, item type, and its depiction, and market end-customer applications. It gives assessed deals income from every single section alongside every district. The report includes essential and optional information which is introduced as diagrams and pie graphs for better arrangement. The general report is introduced in a powerful way that includes a fundamental framework, arrangements, and certain realities according to reassurance and cognizance.

The following are some of the key highlights and features included in the Electric Vehicle Charging Socket Market Report:
• The study provides a comprehensive analysis of the global Electric Vehicle Charging Socket Market.
• The global market and industry's changing market dynamics
• The research also includes a regional analysis and extensive market segmentation by type and applications.
• All of the important players listed in the study report have a SWOT analysis.
• Detailed information on the global market's drivers, opportunities, and restraints.
• This research report is divided into the key regions below, with size, sales, share, revenue, and industry growth rate forecasts for the years 2022-2028.

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Note - In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.

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