Abstract. The charge density wave (CDW) instability, usually occurring in low-dimensional materials, has been a topic of interest for longtime. However, some very fundamental aspects of the mechanism remain unclear. Recently, a plethora of new CDW materials, a substantial fraction of which is 2D (two-dimensional) or even 3D (three-dimensional), has been prepared and characterized as bulk and/or single-layers. As a result, the need for revisiting the primary mechanism of the instability, based on the electron-hole instability established more than 50 years ago for quasi-1D (quasi-one-dimensional) conductors, has clearly emerged. In this work, we consider a large number of CDW materials to revisit the main concepts used in understanding the CDW instability, and emphasize the key role of the momentum dependent electron-phonon coupling in linking electronic and structural degrees of freedom. We argue that for quasi-1D systems, earlier weak coupling theories work appropriately and the energy gain due to the CDW and the concomitant periodic lattice distortion (PLD) remains primarily due to a Fermi surface nesting mechanism. However, for materials with higher dimensionality, intermediate and strong coupling regimes are generally at work and the modification of the chemical bonding network by the PLD is at the heart of the instability. We emphasize the need for a microscopic approach blending condensed matter physics concepts and state-of-the-art first-principles calculations with quite fundamental chemical bonding ideas in understanding the CDW phenomenon in these materials.