/PRNewswire/ -- The EV charging cable market is slated to have a valuation of US$ 2,281.63 million in 2024. The blossoming electric vehicle industry is spelling out positive things for the EV charging cable market. As sustainability concerns lead to a greater number of EVs populating streets, the need for EV charging cables is strengthened. 
The EV charging cable industry is slated to progress at a CAGR of 22.24% through 2034. The government projects not only giving a boost to electrical vehicles but also to their accessories are set to see demand for EV charging cables skyrocket. As more charging stations get built, the infrastructure for the use of EV charging cables is improving, which is also marked to impact the market positively.
By the time 2034 rolls around, the EV charging cable market's value is forecasted to hit US$ 16,992.56 million. The manufacture of EV charging cables allowing convenience to users in the form of home charging is envisioned to add considerable value to the market. Various fast charging cables are also slated to help the market's value cross significant thresholds.
The market players are being helped by governments making the manufacture of EV charging cables easier. Cutting import duties and various other incentives are seeing the production of EVs and EV charging cables amplify.
Key Coverage in the EV Charging Cable Industry Report
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"Technology like built-cooling systems and temperature sensors are seeing EV charging cables become more popular. With the help of technology and growing eco-consciousness, the EV charging cable market's progress is being charted," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the EV Charging Cable Market 
Competition Analysis of the EV Charging Cable Market
To keep up with rapid technological developments, a considerable amount of investment is being put into Research and Development. Variety in product offerings is also sought. Some of the prominent companies in the market include OSRAM Licht AG, Phoenix Contact, DYDEN Corporation, and Prysmian S.p.A.
Recent Developments in the EV charging cable Market
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About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers
A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers
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