PUBLISHER: The Insight Partners | PRODUCT CODE: 1761148
PUBLISHER: The Insight Partners | PRODUCT CODE: 1761148
The EV connector market size was valued at US$ 12.39 billion by 2031 from US$ 2.58 billion in 2024. The market is anticipated to register a CAGR of 25.3% during 2025-2031.
The rapid adoption of electric vehicles (EVs) has led to significant innovations in component manufacturing, especially in EV connectors. These crucial components ensure that EVs and charging infrastructure operate efficiently, reliably, and safely. Advancements in EV connector manufacturing technologies are tackling issues such as scalability, durability, and interoperability, accelerating the shift to sustainable transportation. The materials utilized to manufacture EV connectors have a significant impact on their performance and lifetime. Recent advancements in conductive materials, such as silver-coated copper alloys, have resulted in much lower electrical resistance while preserving high thermal conductivity.
As EV connectors become more sophisticated, precise production procedures are required to ensure high-quality and dependable components. Injection molding, paired with improved automation, enables the mass manufacture of intricate connector designs with close tolerances. Laser machining and micro-welding are utilized to create ultra-precise conductive elements with excellent contact resistance and current-carrying capability. Another innovation is the use of additive manufacturing (AM) for prototype and low-volume production. AM offers a quick iteration of connector designs, allowing manufacturers to test and optimize performance before moving into large-scale manufacturing. Moreover, hybrid manufacturing technologies that blend AM and traditional methods are emerging, providing design flexibility and scalability. Hence, the growing advancement in EV connector manufacturing technology is expected to propel the growth of the EV connector market.
The US has a robust EV market as part of a fundamental shift in transportation. The EV market is growing in the country owing to the lower operating costs, reduced maintenance needs, and improved performance of vehicles. For instance, in October 2024, the Joint Office of Energy and Transportation celebrated reaching 200,000 public charging ports available nationwide. The national network is well ahead of schedule to meet a national goal of 500,000 chargers by 2030. According to the latest data from Cox Automotive's Kelley Blue Book, US electric vehicle (EV) sales experienced a notable increase of 15.2% year-over-year in the fourth quarter of 2024, reaching a total of 365,824 units. This marks a new record for quarterly EV sales volume. Throughout 2024, total EV sales in the US amounted to 1.3 million units, reflecting a 7.3% growth compared to the revised total for 2023. This upward trend in sales can be attributed to a combination of factors, including strong incentives offered by automakers, attractive lease options, and supportive federal and state incentive programs. The increase in EV sales is driving the demand for EV connectors, as more charging infrastructure is required to support the growing number of electric vehicles. Additionally, government initiatives, such as the National Electric Vehicle Infrastructure (NEVI) program, are further accelerating the expansion of charging networks, contributing to the market growth in the US.
The Bipartisan Infrastructure Law, with its US$ 7.5 billion allocation for EV charging stations, is significantly driving the US EV connector market by expanding charging infrastructure nationwide. The funding makes EV charging infrastructure eligible for additional federal programs, boosting investment in both urban and rural areas. This will lead to a substantial increase in the installation of EV connectors, particularly in rural communities, ensuring more accessible and reliable charging networks to support the growing number of electric vehicles on the road.
Aptiv Plc; TE Connectivity Ltd; Molex LLC; Rosenberger Hochfrequenztechnik GmbH & Co KG; Guchen Electronics; Amphenol Corporation; and Japan Aviation Electronics Industry, Ltd.; Yazaki Corp; Sumitomo Electric Industries Ltd; and KYOCERA Corporation are among the key EV connector market players that are profiled in this market study.
The overall EV connector market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the EV connector market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the EV connector market.