EV Charging Cables Market Segmentation Application, Technology & Market Analysis Research Report to 2030

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Market Industry Reports (MIR) has published a new report titled “EV Charging Cables Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global EV charging cables market accounted for over US$ 206.20 million in 2019. It is anticipated to grow at a CAGR of 28.8% from 2020 to 2030.
The automotive industry is facing a slowdown in terms of sales across the globe owing to the strict lockdown in many countries amid the COVID-19 pandemic. As a result, there is a huge drop in the sale of electric vehicles. For instance, the sale of BYD Auto Co. Ltd. an established Chinese electric vehicle manufacturer declined by approximately 79% due to the COVID-19 pandemic. This will further hamper growth of the electric vehicles charging cable market. Additionally, there is a big drop in the manufacture of electric vehicle charging cables due to the lack of laborers. Most electric vehicle charging infrastructure development projects have been halted due to the COVID-19 pandemic, further limiting market growth.

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