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Electric Vehicle Charging Cables Market Set to Boom in Coming Years, says P&S Intelligence NEW YORK, May 11, 2021 /PRNewswire/ Due to the growing environmental concerns, governments across the globe are offering strong support for the manufacturing and sales of electric vehicles (EV) and installation of the related charging stations. As a result of such efforts, the global EV charging cable market reached $250 million in 2020, and it is expected to expand massively during 2021-2030, according to P&S Intelligence. During the COVID-19 pandemic, the lockdowns, social distancing measures, and people s reduced earnings badly impacted the worldwide automotive industry on the demand and supply sides. This effect was clearly visible in the halted production of EVs and people s unwillingness to spend on them. In addition, EV charging station installation activities were also suspended, which had a negative impact on the EV charging cable market, by reducing the demand for these wires.

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