Global Metals in Electric Vehicle Charging Infrastructure Market to accumulate US$ 10 Bn by 2032 - Latest Fact.MR Study

NEW YORK, Feb. 21, 2022 /PRNewswire/ -- The global metals in electric vehicle charging infrastructure market is forecast to grow at a CAGR of 18% during the forecast period 2022-2032 and estimated to reach a market valuation of US$ 2 Bn in 2022.  

An increase in air pollution is causing a major threat to human life. Thus, the adoption of electric vehicles across the globe is rising. Furthermore, to charge electric vehicles, the demand for charging stations has increased. As raw metals play a crucial part in the infrastructure of electric charging stations, the demand for the same is expected to rise in the upcoming assessment period.

Increasing investments for developing stations in commercial places is driving the demand for metals in electric vehicle charging infrastructure. Moreover, overnight charging at individual homes or residential complexes is not adequate for long-distance journeys. In addition, government initiatives are increasing the demand for metals.

In 2021, the U.S. introduced a US$ 2 trillion infrastructure bill to prioritize a national EV charging network. This bill states the promise of installing at least 500 thousand devices in 2030. Moreover, the U.S. is among the leading consumers of the market for metals in electric vehicle charging infrastructure.

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Copper is largely used in cables, wiring, and charging units in electric panels. Moreover, nearly 3.5kg of copper is required for making one charging station. In addition, owing to low cost and superior strength, steel is preferred over aluminum for housing charging infrastructure. Thus, by metals, copper is expected to account for more than 30% market share of metals in electric vehicle charging infrastructure.

Increasing investments for developing stations in commercial places are driving the demand for metals in electric vehicle charging infrastructure. Moreover, overnight charging at individual homes or residential complexes is not adequate for long-distance journeys. 

Key Takeaways: 

• By metal, copper is expected to account for more than 30% market share in 2022.
• By end-use, a commercial segment is expected to hold more than 75% market share.
• Europe expected to hold more than 30% market share for metals in electric vehicle charging infrastructure.
• The Asia Pacific is expected to dominate the market for metals in electric vehicle charging infrastructure by possessing more than 50% market share.
• The global market for metals in EV charging infrastructure to reach US$ 2 Bn by 2022.

Growth Drivers: 

• Rapid adoption of electric vehicles will accelerate demand for metals in electric vehicle charging infrastructure.
• Increasing investment by developing countries in electrical vehicles augmenting demand for metals in electric vehicle charging infrastructure.

Key Restraints: 

• Lack of standardization of the present scenario of EV charging infrastructure is expected to hamper the growth of metals in the electric vehicle charging infrastructure market.

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Competitive Landscape: 

The various leading players in the metals in electric vehicle charging infrastructure market are focusing on offering various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations, and partnerships. 

• In November 2021, Alcoa Corporation announced its plan to design aluminum refinery for the future. The company is focusing on reinventing its aluminum production by reducing carbon emissions. Moreover, the company is the third-largest third-party supplier of aluminum.
• In February 2020, Glencore announced global marketing relationships with United States Strategic Metals. The relationship consists of a long-term agreement for 100% of the company's product. The companies are focusing on exploring commercial segments for offering raw materials.

Key Companies Profiled by Fact.MR 

• Alcoa Corporation
• CODELCO
• Emirates Global Aluminium (EGA)
• First Quantum Minerals Ltd.
• Glencore
• JSW
• KGHM
• Norsk Hydro ASA
• Rio Tinto
• Rusal

More Valuable Insights on Metals in Electric Vehicle Charging Infrastructure Market 

Fact.MR, in its report, offers a market analysis of the global metals in the electric vehicle charging infrastructure market analyzing the forecast period through 2022 and beyond. This survey reveals the growth of technology in the metals in electric vehicle charging infrastructure Market with detailed segmentation as follows: - 

• By Metals
• Copper-based EV Charging Infrastructure
• Aluminium-based EV Charging Infrastructure
• Steel-based EV Charging Infrastructure
• Other Metals-based EV Charging Infrastructure
  
• By Charging Port
• Level 1 EV Charger
• Level 2 EV Charger
• DC Fast EV Charger (Level 3
  
• By End Use
• Private EV Charging Infrastructure
• Commercial EV Charging Infrastructure
  
• By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

Key Questions covered in the Metals in Electric Vehicle Charging Infrastructure Market Report 

• What is the global metals in electric vehicle charging infrastructure market scenario?
• How far is the global demand expected to reach over the forecasted period?
• What was the last 5-year CAGR for the demand in the demand in the metals in electric vehicle charging infrastructure Market?
• Who are the prominent players in the global metals in the electric vehicle charging infrastructure Market?
• Which is the leading region in the metals in electric vehicle charging infrastructure Market?

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