North America Electric Vehicle HV Cables Market - Share Analysis (2024–2032)

North America Electric Vehicle HV Cables Market Synopsis:

North America Electric Vehicle HV Cables Market Size Was Valued at USD 2.14 Billion in 2023 and is Projected to Reach USD 4.53 Billion by 2032, Growing at a CAGR of 8.7% From 2024-2032.

A high-voltage cable (HV cable), also referred to as a high-tension cable (HT cable), is engineered for transmitting electrical power at elevated voltages. These cables comprise a conductor, typically made of copper or aluminum, encased in multiple layers of insulation to minimize energy loss and ensure safety. Fully insulated to withstand high electrical stresses, HV cables are integral to applications such as power transmission, industrial systems, and renewable energy projects. They are essential for efficient energy distribution, facilitating long-distance power transmission while enhancing system reliability and minimizing energy losses.

In electric vehicles (EVs), HV cables are crucial for transferring electricity from the battery to the motor and other key components. Prioritizing safety, these cables feature high-quality insulation and shielding to prevent electrical leaks and ensure stable performance under extreme conditions. Designed to meet rigorous safety standards, HV cables provide reliability during heavy loads or accidents, protecting the EV’s electrical systems and enhancing passenger safety, which bolsters consumer trust in EV technology.

The durability and efficiency of HV cables significantly impact EV performance. Constructed with robust materials like Viton fluoroelastomers, these cables resist wear and tear, maintaining reliability in challenging environments. Their resistance to high temperatures and exposure to oil makes them suitable for various applications, such as car heaters, electric compressors, and HV heat pumps. Furthermore, HV systems improve energy transfer efficiency, extending vehicle range and ensuring consistent performance over time.

Another notable advantage of HV cables is their adaptability and environmental resilience. Designed for flexibility, they facilitate easy installation and fit seamlessly into compact EV designs. Additionally, their strong anti-interference properties ensure stable electrical system operation by reducing electromagnetic interference. With their combined safety, efficiency, and resilience, HV cables are pivotal in advancing the reliability and capabilities of electric vehicles.

North America Electric Vehicle HV Cables Market Growth and Trend Analysis:

Increasing Demand for EVs

• The increasing demand for electric vehicles (EVs) is a significant driver of the North America Electric Vehicle HV Cables Market. As the region intensifies efforts to reduce carbon emissions, EV adoption has surged, with EV sales in the U.S. reaching 1.2 million units in 2023, a substantial rise from previous years. This growth is fueled by supportive government policies, such as tax credits of up to $7,500 under the Inflation Reduction Act, and stringent emissions regulations targeting internal combustion engine vehicles.
• High-voltage cables are essential in EVs, efficiently transferring power from the battery to critical components like the motor and heating systems. With increasing consumer demand for long-range EVs, manufacturers are equipping vehicles with larger batteries and advanced drivetrains, necessitating robust and efficient HV cables. For instance, Tesla, one of the leading EV manufacturers in North America, integrates high-performance HV cables to enhance vehicle range and reliability.
• Also, the expanding charging infrastructure, which includes more than 61,000 publicly accessible electric vehicle charging stations across the U.S., relies on efficient HV cables for high-speed power transfer. As EV adoption accelerates, driven by environmental awareness and technological advancements, the demand for durable, safe, and efficient HV cables continues to grow, reinforcing their critical role in the EV ecosystem.

Expansion of Charging Infrastructure

• The expansion of EV charging infrastructure is a major opportunity for the North America Electric Vehicle (EV) High-Voltage (HV) Cables Industry. As electric vehicle adoption accelerates, the need for a robust charging network has become increasingly critical. The U.S. government has committed $7.5 billion to build 500,000 additional charging stations by 2030. This expansion is essential to support the growing number of electric vehicles on the road, which reached over 1 million EVs sold in the U.S. in 2023 alone.
• HV cables play a pivotal role in enabling high-speed charging by facilitating the safe and efficient transfer of electricity between the grid and EVs. With the rise of fast-charging stations capable of delivering up to 350 kW of power, HV cables must meet rigorous performance standards to handle high power loads while ensuring safety and reliability. Companies like Tesla, Rivian, and ChargePoint are driving this infrastructure development, creating a direct demand for high-quality HV cables tailored to fast-charging applications.
• As the charging infrastructure continues to grow and evolve, the need for advanced, durable, and flexible HV cables presents a significant market opportunity. This growth in infrastructure, supported by both private and public investments, will drive the demand for HV cables, positioning the market for continued expansion.

North America Electric Vehicle HV Cables Market Segment Analysis:

North America Electric Vehicle HV Cables Market is segmented based on Type Power Rating, Product Type, Material Type, and Application.

By Product Type, Shielded Cables segment is expected to dominate the market during the forecast period

• The shielded cables segment is expected to dominate the North America Electric Vehicle (EV) High-Voltage (HV) Cables Market by 2032 due to their superior safety, reliability, and performance under high electrical stresses. Shielded cables are designed with an additional layer of conductive material, typically made of copper or aluminum, which provides protection against electromagnetic interference (EMI) and reduces the risk of electrical faults. As EVs incorporate increasingly complex electrical systems, the demand for shielded cables has risen to ensure stable operation, especially in high-power applications.
• In 2023, the EV market in North America saw over 1.2 million units sold, with a significant increase in demand for high-performance cables for fast-charging and long-range EVs. Shielded cables are particularly crucial in these applications, as they prevent energy loss, reduce noise, and enhance the safety of high-voltage systems. Companies like Tesla and General Motors are integrating advanced shielded cables to support their EV platforms, further driving market growth. The focus on safety and system reliability in EVs makes shielded cables essential for future growth in this segment.

By Application, Battery Management Systems (BMS) segment held the largest share in 2023

• The Battery Management Systems (BMS) segment held the largest share in North America Electric Vehicle (EV) HV Cables Market, primarily due to the increasing adoption of electric vehicles (EVs) and the critical role BMS plays in optimizing battery performance and safety. BMS ensures efficient battery charging, discharging, and overall longevity, which is essential for EV manufacturers striving to meet consumer demand for longer driving ranges and faster charging times. BMS is integral to this growth, with an increasing number of automakers integrating advanced BMS technology into their electric vehicle designs. Also, the U.S. government’s commitment to promoting clean energy solutions through tax incentives and regulations has boosted demand for BMS-equipped EVs. This trend is expected to continue, with BMS accounting for a significant portion of the market share in the coming years.

North America Electric Vehicle HV Cables Market Active Players:

• Champlain Cable Corporation (USA)

• Prysmian Group (USA)
• ProEV™ (Canada)
• Superior Essex (USA)
• Leoni (USA)
• General Cable (USA)
• Sumitomo Electric (USA)
• Belden Inc. (USA)
• TE Connectivity (USA)
• Southwire (USA)
• Kabelschlepp Metool (USA)
• Mouser Electronics (USA)
• HUBER+SUHNER (USA)
• LS Cable & System (USA)
• Eaton Corporation (USA)
• ABB (Canada)
• Other Active Players

Key Industry Developments in the North America Electric Vehicle HV Cables Market:

• In February 2023, ProEV, a division of Electrical Components International (ECI), announced a partnership with Phillips Innovations to develop hybridized low-voltage and high-voltage harness assemblies for Class 8 electric and fuel-cell trucks and trailers. This collaboration combines ProEV™'s expertise in electric vehicle technology with Phillips Industries' experience in commercial truck components. Jarred Knecht, President of ProEV™, emphasized the commitment to delivering advanced technology and support, while Rob Phillips, CEO of Phillips Industries, highlighted the integration of innovative solutions for customers.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Industry Dynamics and Opportunity Analysis
  3.1.1 Growth Drivers
  3.1.2 Limiting Factors
  3.1.3 Growth Opportunities
  3.1.4 Challenges and Risks
 3.2 Market Trend Analysis
 3.3 Strategic Pestle Overview
 3.4 Porter's Five Forces Framework
 3.5 Industry Value Chain Mapping
 3.6 Regulatory Framework
 3.7 Pricing Trend Analysis
 3.8 Patent Analysis
 3.9 Technology Evolution
 3.10 Investment Pockets
 3.11 Import-Export Analysis

Chapter 4: North America Electric Vehicle HV Cables Market by Type Power Rating
 4.1 North America Electric Vehicle HV Cables Market Snapshot and Growth Engine
 4.2 Market Overview
 4.3 Low Voltage Cables (Below 600V)
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Low Voltage Cables (Below 600V): Geographic Segmentation Analysis
 4.4 Medium Voltage Cables (600V–1
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Medium Voltage Cables (600V–1: Geographic Segmentation Analysis
 4.5 000V)
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 000V): Geographic Segmentation Analysis
 4.6 High Voltage Cables (Above 1
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 High Voltage Cables (Above 1: Geographic Segmentation Analysis
 4.7 000V)
  4.7.1 Introduction and Market Overview
  4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.7.3 Key Market Trends, Growth Factors and Opportunities
  4.7.4 000V): Geographic Segmentation Analysis

Chapter 5: North America Electric Vehicle HV Cables Market by Product Type
 5.1 North America Electric Vehicle HV Cables Market Snapshot and Growth Engine
 5.2 Market Overview
 5.3 Coaxial Cables
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Coaxial Cables: Geographic Segmentation Analysis
 5.4 Shielded Cables
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Shielded Cables: Geographic Segmentation Analysis
 5.5 Sub-Assemblies
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Sub-Assemblies: Geographic Segmentation Analysis
 5.6 Twisted Pairs
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Twisted Pairs: Geographic Segmentation Analysis
 5.7 Unshielded Cables
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Unshielded Cables: Geographic Segmentation Analysis

Chapter 6: North America Electric Vehicle HV Cables Market by Material Type
 6.1 North America Electric Vehicle HV Cables Market Snapshot and Growth Engine
 6.2 Market Overview
 6.3 Copper Cables
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Copper Cables: Geographic Segmentation Analysis
 6.4 Aluminum Cables
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Aluminum Cables: Geographic Segmentation Analysis
 6.5 Hybrid Cables
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Hybrid Cables: Geographic Segmentation Analysis
 6.6 PVC
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 PVC: Geographic Segmentation Analysis
 6.7 Rubber
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Rubber: Geographic Segmentation Analysis
 6.8 Teflon
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Teflon: Geographic Segmentation Analysis
 6.9 XLPE
  6.9.1 Introduction and Market Overview
  6.9.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.9.3 Key Market Trends, Growth Factors and Opportunities
  6.9.4 XLPE: Geographic Segmentation Analysis

Chapter 7: North America Electric Vehicle HV Cables Market by Design Type
 7.1 North America Electric Vehicle HV Cables Market Snapshot and Growth Engine
 7.2 Market Overview
 7.3 Helical Cable Design
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Helical Cable Design: Geographic Segmentation Analysis
 7.4 Spiral Cable Design
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Spiral Cable Design: Geographic Segmentation Analysis
 7.5 Straight Cable Design
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Straight Cable Design: Geographic Segmentation Analysis

Chapter 8: North America Electric Vehicle HV Cables Market by Application
 8.1 North America Electric Vehicle HV Cables Market Snapshot and Growth Engine
 8.2 Market Overview
 8.3 Battery Management Systems (BMS)
  8.3.1 Introduction and Market Overview
  8.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.3.3 Key Market Trends, Growth Factors and Opportunities
  8.3.4 Battery Management Systems (BMS): Geographic Segmentation Analysis
 8.4 Charging Systems
  8.4.1 Introduction and Market Overview
  8.4.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.4.3 Key Market Trends, Growth Factors and Opportunities
  8.4.4 Charging Systems: Geographic Segmentation Analysis
 8.5 Electric Drive Systems
  8.5.1 Introduction and Market Overview
  8.5.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.5.3 Key Market Trends, Growth Factors and Opportunities
  8.5.4 Electric Drive Systems: Geographic Segmentation Analysis
 8.6 Heating
  8.6.1 Introduction and Market Overview
  8.6.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.6.3 Key Market Trends, Growth Factors and Opportunities
  8.6.4 Heating: Geographic Segmentation Analysis
 8.7 Ventilation
  8.7.1 Introduction and Market Overview
  8.7.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.7.3 Key Market Trends, Growth Factors and Opportunities
  8.7.4 Ventilation: Geographic Segmentation Analysis
 8.8 Air Conditioning (HVAC)
  8.8.1 Introduction and Market Overview
  8.8.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.8.3 Key Market Trends, Growth Factors and Opportunities
  8.8.4 Air Conditioning (HVAC): Geographic Segmentation Analysis

Chapter 9: Company Profiles and Competitive Analysis
 9.1 Competitive Landscape
  9.1.1 Competitive Benchmarking
  9.1.2 North America Electric Vehicle HV Cables Market Share by Manufacturer (2023)
  9.1.3 Industry BCG Matrix
  9.1.4 Heat Map Analysis
  9.1.5 Mergers and Acquisitions  
 9.2
  9.2.1 Company Overview
  9.2.2 Key Executives
  9.2.3 Company Snapshot
  9.2.4 Operating Business Segments
  9.2.5 Product Portfolio
  9.2.6 Business Performance
  9.2.7 Recent News & Development
  9.2.8 SWOT Analysis

Chapter 10:North America Electric Vehicle HV Cables Market Analysis, Insights and Forecast, 2016-2028
 10.1 Market Overview
 10.2 Key Market Trends, Growth Factors and Opportunities
 10.3 Key Players
 10.4 Historic and Forecasted Market Size By Type Power Rating
  10.4.1 Low Voltage Cables (Below 600V)
  10.4.2 Medium Voltage Cables (600V–1
  10.4.3 000V)
  10.4.4 High Voltage Cables (Above 1
  10.4.5 000V)
 10.5 Historic and Forecasted Market Size By Product Type
  10.5.1 Coaxial Cables
  10.5.2 Shielded Cables
  10.5.3 Sub-Assemblies
  10.5.4 Twisted Pairs
  10.5.5 Unshielded Cables
 10.6 Historic and Forecasted Market Size By Material Type
  10.6.1 Copper Cables
  10.6.2 Aluminum Cables
  10.6.3 Hybrid Cables
  10.6.4 PVC
  10.6.5 Rubber
  10.6.6 Teflon
  10.6.7 XLPE
 10.7 Historic and Forecasted Market Size By Design Type
  10.7.1 Helical Cable Design
  10.7.2 Spiral Cable Design
  10.7.3 Straight Cable Design
 10.8 Historic and Forecasted Market Size By Application
  10.8.1 Battery Management Systems (BMS)
  10.8.2 Charging Systems
  10.8.3 Electric Drive Systems
  10.8.4 Heating
  10.8.5 Ventilation
  10.8.6 Air Conditioning (HVAC)
 10.9 Historic and Forecast Market Size by Country
  10.9.1 U.S.
  10.9.2 Canada
  10.9.3 Mexico

Chapter 11 Analyst Viewpoint and Conclusion
11.1 Recommendations and Conclusion

Chapter 12 Our Thematic Research Methodology
12.1 Research Process
12.2 Primary Research
12.3 Secondary Research