EV Charging Connector Market Procurement Intelligence Report

Electric Vehicle Charging Connector Market Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 - 2025

  • Published Date: Sep, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-P-10509
  • Format: Electronic (PDF)
  • Historical Data: 2018-2019
  • Number of Pages: 60

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.

Electric Vehicle Charging Connector Market Size, 2018-2025 (USD Million)

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. 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.

Electric Vehicle Charging Connector Market - Competitive Landscape

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.

Pricing and Cost Intelligence

“Raw material costs make up the bulk of the cost head (~11%). The total cost of ownership is significantly influenced by the cost of integrating the charger with the charging station infrastructure.”

Raw materials, energy, and labor are three major cost components (~60%) of EV charging connector manufacturing. In most cases, the EV charging connector body is made of thermoplastic and it holds the highest share (20%) among raw materials.

Electric Vehicle Charging Connector Market - Cost Structure & Raw Material Share

The electric vehicle charging connector market procurement intelligence report provides a detailed analysis of the cost structure along with the prevalent pricing models that prominent suppliers in the market opt for.

Sourcing Intelligence

“North America and Europe are the leading importers of connectors due to the increasing demand for electric vehicles within the region.”

The U.S. has been one of the largest importers of electric connectors for the past 5 years.

Electric Vehicle Charging Connector Market - Import & Export Data (USD Thousand)

The import value has increased over the past 2-3 years. In the wake of the U.S.-China trade war, the U.S. has been moving its supply chains to Japan and South Korea, which are comparatively expensive sourcing destinations than China.

From a sourcing perspective, the majority of the suppliers opt for a hybrid or bundled outsourcing engagement model as it reduces the complexities associated with in-house production.

Electric Vehicle Charging Connector Market - Engagement Model

In order to reduce risks and improve the potential for value creation, suppliers widely prefer using shared service operating models. As such, suppliers are expected to move from offering custom products to proprietary products in the future. The report also provides details of the quick wins, portfolio analysis, and key negotiation strategies of the key suppliers.

Frequently Asked Questions About This Report

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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