Electric Vehicle Charging Connector Market Procurement Intelligence, Supplier Intelligence, Day One Analysis Report, 2020 - 2025
Category Overview
“Favorable government initiatives toward sustainable development and the rising demand for electric vehicles are aiding to the growth of EV charging connector market”
The rising demand for electric vehicles (CAGR ~20%) is driving the need for EV charging connectors (CAGR~19%). Moreover, the increasing efficiency of electric vehicles is expected to create a significant opportunity for market growth in near future.
EV charging connector suppliers are also positioning themselves for growth by collaborating with electric vehicle manufacturers. EV charging connector suppliers are also collaborating with regional players to benefit from their knowledge of the local market, and maintain high-profit margins, low overhead costs, and their overall competitiveness in the market. CHAdeMO, CCS, and AC Type 2 connectors are the most common and effective solutions in the current scenario with more than 80% market share.
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However, DC fast charging connector segment has started to get more market share due to its fast-charging capability. With the growing requirement for EV charging infrastructure (CAGR ~32%) associated components, suppliers are finding newer sourcing and procurement methods for optimizing the cost of manufacturing, reducing the volatility of obtaining raw materials, and improving profitability.
Supplier Intelligence
“The global EV charging connector market is fragmented, with strategic partnerships between large and mid-sized or small-sized companies to leverage their regional manufacturing capabilities.”
Leading EV charging connector suppliers are mostly manufacturing EV connectors for their in-house charging infrastructure development. Hence, the competition is particularly high among the smaller regional EV charging connector suppliers.
An increase in mergers and acquisitions, coupled with diffused customer concentration, has enabled EV charging connector suppliers to secure add-on offerings to realize growth in new geographies. The Asia Pacific region holds the highest share of the global EV charging connector market, thanks to China’s position as the leading sourcing destination due to its low-cost manufacturing. It is also the fastest-growing market, owing to the supportive policies of China's government and the development of China as the global EV charging infrastructure hub.
Check out the featured Addon Services offered with Electric Vehicle Charging Connector Market Procurement Intelligence Report:
Add-on Services
Should Cost Analysis
In the EV charging connector market procurement intelligence report, we have estimated and forecasted pricing for the key cost components. The body of the charging connector, which is majorly made up of thermoplastics, is one of the key raw materials for EV charging connector manufacturing. Other raw materials like copper, brass, and stainless steel also hold a significant cost-share in connector manufacturing. The overall raw material cost accounted for 11% of the overall manufacturing cost.
Rate Benchmarking
The type and voltage of the connectors are some of the most important aspects while analyzing the rate benchmarking of an EV charging connector. In the EV charging connector market procurement intelligence report, we have analyzed the rates of CHAdeMO, CCS, and Type 2 EV charging connectors by using rate benchmarking analysis. CHAdeMO comes with 50kw and 100kw power ratings, CCS comes with 50kw, 150kw, and 350kw power ratings, Type 2 connector comes with 150kw and 250kw power ratings.
Salary Benchmarking
Labor is one of the key cost components incurred while offering a product or service. Understanding the pricing structure of salary is important for organizations in selecting the appropriate supplier and to build a good negotiation strategy. Our electric vehicle charging connector market procurement intelligence report indicates that Tesla Senior Production Manager/Engineers earn 25%-30% higher salaries than Senior Production Manager/Engineers from other industry leaders like Bosch and TE Connectivity.
Supplier Newsletter
It is cumbersome for any organization to continuously track the latest developments in their supplier landscape. Our newsletter service helps them remain updated, to avoid any supply chain disruption which they may face, and keep a track of latest innovations from the suppliers. In July 2021, EVgo, a U.S.-based fast-charging public network company, acquired Recargo, an EV charging app development company for USD25 million. Recargo’s app PlugShare helps to find charger locations and it is installed by more than 70% of Americans. Hence, this acquisition will make EVgo the leader in the U.S. market.
About us:
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 the supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving - market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
- Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Find More information @ https://www.grandviewresearch.com/pipeline
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Grand View Research, Inc.
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