With the government’s push towards clean energy, the market of electric vehicle (EV) and its charging infrastructure is rising at lightning speed.
According to the latest study of Fact.MR, the global sales of metals in electric vehicle (EV) charging infrastructure are expected to surpass US$ 10 Bn by registering a double-digit CAGR of 18% in the forecast period 2022-2032.
Increasing pollution and rapid adoption of electrical vehicles have bolstered the demand for metals in electric vehicle charging infrastructure. Furthermore, electric charger station owners are focusing on investing in materials that are resistant to corrosion and enhance conductivity.
Historically, from 2017 to 2022, the global sales of metals in electric vehicle charging infrastructure exceeded US$ 1 Bn by the end of the aforementioned period, expanding at around 12% CAGR. The onset of the COVID-19 pandemic disrupted the supply and demand of various end user sectors. Thus, the demand for electric vehicles dipped in the initial quarter of the pandemic. As the world is getting back to normalcy, the demand for electric vehicles is expected to increase. This, in turn, is expected to create revenue opportunities for metals in electric vehicle charging infrastructure.
Furthermore, technological advancement and investment in research and development is bolstering the demand for electric vehicle charging stations. Moreover, initiatives backed by the government in countries like India, Brazil and U.S are positively influencing the demand for metals in electric vehicle charging infrastructure.
“Rapid adoption of electric vehicles and raw materials ability to reduce corrosion and enhance conductivity is driving the demand for metals in electric vehicle charging infrastructure.” opines a Fact.MR analyst
- In February 2020, CODELCO announced all its operations will participate in the Copper Mark Program. The company has also pledged to sustainable developments by 2030 and integrate carbon neutrality by 2050
- JSW, Alcoa Corporation, Rio Tinto, Glencore, KGHM, Rusal, CODELCO, First Quantum Minerals Ltd, Emirates Global Aluminum (EGA), Norsk Hydro ASA are prominent metals in electric vehicle charging infrastructure market players.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global metals in the electric vehicle charging infrastructure market, presenting historical demand data (2015-2021) and forecast statistics from 2022 to 2032.
The study indulges essential insights on the market based on metals (copper, aluminum, steel and others), charging port (level 1, level 2, DC fast charger (level 3) and end use (private and commercial) across five major regions (North America, Latin America, Europe, Asia Pacific and the Middle East & Africa).
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