Cable for New Energy Vehicle Market Revenue was valued at USD 5.1 Billion in 2024 and is estimated to reach USD 12.3 Billion by 2033, growing at a CAGR of 12.8% from 2026 to 2033.
The burgeoning market for cables in South Korea's new energy vehicle (NEV) sector is experiencing significant growth, driven by the nation's commitment to electric vehicle (EV) adoption and infrastructure development. As of May 2023, South Korea boasts approximately 240,695 EV chargers, marking a 17% increase from the end of 2022. Notably, 10.6% of these are fast chargers, underscoring the emphasis on rapid charging solutions.
Government initiatives play a pivotal role in this expansion. In December 2023, South Korea announced plans to bolster domestic EV charger production, aiming for a 10% global market share by 2030. This strategy includes support for charging station operators and advancements in technologies such as wireless and ultra-fast charging.
The demand for specialized cables is escalating alongside the growth in charging infrastructure. High-quality cables are essential for efficient and safe energy transfer in both public and private charging stations. The market segments these cables by power supply—AC and DC—and by length, typically ranging from 2 to over 10 meters. AC connectors are further categorized into Type 1 and Type 2, while DC connectors include CHAdeMO and Combined Charging System (CCS) standards.
Industries involved in cable manufacturing must adhere to stringent standards to meet the evolving requirements of the NEV market. Emphasis is placed on durability, safety, and compatibility with various charging technologies. The integration of smart charging technologies, such as real-time energy management and automated load balancing, further influences cable specifications, necessitating continuous innovation in cable design and materials.
In summary, South Korea's NEV cable market is poised for substantial growth, driven by governmental support and technological advancements. The focus on expanding and enhancing charging infrastructure underscores the critical role of high-quality cables in facilitating the nation's transition to sustainable transportation.
Get an In-Depth Research Analysis of the South Korea Cable for New Energy Vehicle Market Size And Forecast [2025-2032]
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Hengtong Group
Shangshang Cable Group
Zongheng High-tech Cable
Hongqi Group
Bokang Group
Valin Wire and Cable Co
AG ELECTRICAL
TITION
Echu Special Wire and Cable
Junyi Zhonghao
Shen'xing Special Cable
TEONLE
BNE HARVEST TECH
BRAVE
OMG
Donggang Cable
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Cable for New Energy Vehicle Market
AC Charging Cables
DC Charging Cables
High Voltage Cables
Low Voltage Cables
Flexible Cables
Battery Electric Vehicles (BEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Hybrid Electric Vehicles (HEVs)
Electric Buses
Electric Two-Wheelers
Public Charging Stations
Private Charging Solutions
Fast Charging Stations
Wireless Charging Systems
Charging at Residential Locations
Copper Cables
Aluminum Cables
Composite Material Cables
Insulated Cables
Thermal Resistant Cables
Automobile Manufacturers
Electric Vehicle Fleet Operators
Utility Companies
Residential Users
Commercial End Users
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Cable for New Energy Vehicle Market Research Analysis
1. Introduction of the South Korea Cable for New Energy Vehicle Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Cable for New Energy Vehicle Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Cable for New Energy Vehicle Market, By Type
6. South Korea Cable for New Energy Vehicle Market, By Application
7. South Korea Cable for New Energy Vehicle Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Cable for New Energy Vehicle Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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