EV charging cable market seen reaching $3.45 billion by 2031

By AI, Created 12:06 PM UTC, June 01, 2026, /AGP/ – Allied Market Research projects the global electric vehicle charging cable market will grow from $0.67 billion in 2021 to $3.45 billion by 2031, driven by rising EV adoption, public charging buildout and faster-charging technology. Asia-Pacific, led by China, remains the largest regional market as manufacturers expand capacity and pursue new cable designs.

Why it matters: - The electric vehicle charging cable market is tied directly to EV adoption and charging infrastructure growth. - The market’s projected rise to $3.45 billion by 2031 signals sustained demand for charging hardware across public and private networks. - Faster-charging systems and higher EV charging station deployment could shape where manufacturers invest next.

What happened: - Allied Market Research said the global electric vehicle charging cable market was valued at $0.67 billion in 2021. - The report projects the market will reach $3.45 billion by 2031. - The forecast implies an 18.1% compound annual growth rate from 2022 to 2031. - Asia-Pacific leads the market by revenue, followed by Europe, North America and LAMEA. - China held the largest global market share in 2021 and is expected to grow at a significant pace during the forecast period. - The report points to government, private-sector and federal initiatives in China that support EV adoption. - The report includes market analysis by power type, application, cable length, shape and charging level. - The report also names the market’s competitive landscape and trend analysis as part of its scope.

The details: - EV charging cables connect rechargeable EV battery packs to public or private charging outlets. - The cables have two ends, with one end plugged into the vehicle and the other into the charging point. - EV charging cables support multiple charging modes across regions. - Manufacturers are investing in EV charging infrastructure and research aimed at faster, more efficient charging. - Leoni AG presented cable and solution offerings at the Electric & Hybrid Technology Expo in Stuttgart in April 2019. - Leoni AG highlighted fast-charging technology, high-voltage power supply cables and its LEONiQ digital cable technology. - The technology uses liquid-cooled charging systems to help control temperatures in the cable and connector. - China introduced a 10% service tax waiver for EVs in April 2020 to support demand. - Leoni AG planned in August 2019 to expand its wire and cable solutions division in Cuauhtémoc, Mexico by 7,000 square meters, with an option for another 3,000 square meters. - That expansion involved investment of more than $25 million. - The purpose was to increase capacity for EV charging cables and Hivocar high-voltage cables for vehicles with alternative drive. - In the market breakdown, AC charging was the leading power type in 2021 by growth rate. - Public charging is expected to post strong growth over the forecast period. - The 2-meter to 5-meter cable length segment is the highest contributor by growth rate. - Coiled cables are expected to grow strongly. - Level 2 charging is expected to grow strongly. - Key companies listed in the market include AG Electrical Technology, Aptiv, Besen International Group, Brugg Group, Chengdu Khons Technology, Coroplast Fritz Müller, Dyden, EV Cables UK, Guangdong OMG Transmitting Technology, Leoni AG, Manlon Polymers, Phoenix Contact, Prysmian, Sinbon Electronics and TE Connectivity. - The report is available through Allied Market Research with sample, purchase and inquiry pages.

Between the lines: - The market outlook depends on two forces moving in opposite directions: more EVs and more charging hardware versus higher costs and wireless charging alternatives. - Fast-charging demand appears to be an important product battleground for suppliers. - Regional manufacturing and policy support, especially in China and Asia-Pacific, likely remain a major advantage for companies already positioned there. - The COVID-19 section shows the market is still vulnerable to supply-chain disruptions, factory shutdowns and liquidity stress among smaller suppliers. - The report says lockdowns and trade restrictions disrupted exports from China, slowed manufacturing in Europe and closed assembly plants in the U.S.

What’s next: - EV charging cable makers are likely to keep expanding capacity, forming partnerships and launching new products to defend market share. - Infrastructure buildout and faster-charging technology should continue to influence segment growth through 2031. - The market’s pace will likely track EV production, charging-station deployment and policy support in major regions. - Additional information is available through the sample report, the purchase page and the inquiry page.