Metals in Electric Vehicle Charging Infrastructure Market

Metals in Electric Vehicle Charging Infrastructure Market Outlook (2022-2032)

The global sales of metals in electric vehicle charging infrastructure garnered a market value of US$ 1 Bn in 2021 and is expected to register a staggering double digit CAGR of 18% by accumulating a market value of US$ 10 Bn through the assessment period 2022-2032. In 2022, the market is forecast to reach US$ 2 Bn.

Report Attributes	Details
Market Size Value in 2022	US$ 2 Bn
Project Market Forecast Value in 2032	US$ 10 Bn
Global Growth Rate (2022-2032)	18%
Market Share of Asia Pacific	50%
Key Companies Profiled	Alcoa Corporation CODELCO Emirates Global Aluminium (EGA) First Quantum Minerals Ltd. Glencore JSW KGHM Norsk Hydro ASA Rio Tinto Rusal

Increase in air pollution is causing a major threat to human life. Thus, the adoption of electric vehicles across the globe is on a surge. 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.

Demand Analysis of Metals in Electric Vehicle Charging Infrastructure from 2015 to 2021 Vs Market Projections for 2022 to 2032

As per Fact.MR’s report, from 2015 to 2021, the global sales of metals in electric vehicle charging infrastructure expanded at a CAGR of 12%, surpassing a valuation of US$ 1 Bn by the end of 2021. Surging popularity of EVs in the wake of the quest to reduce automobile emissions is bolstering growth prospects to a significant extent.

During the COVID-19 pandemic, growth prospects took a backseat through most of 2020, attributed to crunches in automotive manufacturing experienced as a result of mandatory lockdowns. Curbs on manufacturing activity led to restricted output, especially of metals and other material, leading to supply constraints. Fortunately, since 2021, prospects have begun exhibiting a gradual resurgence, as the restrictions lift and normalcy is ushered in.

Rapid integration of electric vehicles in our daily life is on a rise. To charge these vehicles, charging stations are a must. Thus, manufacturers are focusing on improving the infrastructure of charging stations to make them corrosion resistant. Thus, the sales of metals in electric vehicle charging infrastructure are expected to exceed US$ 10 Bn by registering a CAGR of 18% in the forecast period 2022-2032.

Rapid Adoption of Electric Vehicles Accelerating Demand for Metals in Electric Vehicle Charging Infrastructure?

Increasing prices of fuels along with increase in air pollution is posing threat to the environment. In addition, penetration of key market players for producing electric vehicles is rising the demand for charging stations. Moreover, adoption of electric vehicles is not only limited to two wheelers, but is also extended to three and four wheelers. Thus, countries like U.S and India are investing in charging stations.

As these stations are exposed to weather, the chances of them getting damaged and affecting the productivity rate are high. Thus, charging station owners are focusing on investing in raw materials that are resistant to corrosion and enhance conductivity. Thus, the demand for metals in electric vehicle charging infrastructure is increasing.

Developing Countries Increasing Investment in Electrical Vehicles Augmenting Demand for Metals in Electric Vehicle Charging Infrastructure?

A charging station consists of electricity meter, housing, control and operating system, switch and fuses. These components require metals. For example, housings require aluminum or steel, and the electrical components make use of critical metals. This, in turn, is increasing investments in the EV industry across different economies.

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

Furthermore, developing countries such as Brazil and India are also expected to invite large investments. Thus, due to the aforementioned factors the demand for metals in electric vehicle charging infrastructure are expected to increase.

Country-wise Analysis

Presence of Key Players Increasing Demand for Metals in Electric Vehicle Charging Infrastructure in Europe?

Dominating presence of automakers across Germany, including Bayerische Motoren Werke AG (BMW), Daimler AG, Groupe Renault, and Volkswagen are making collaborative efforts to set up a series of fast electric vehicle chargers in the region.

Furthermore, well-established automobile manufacturers such as Ford, Tesla and Nissan, are investing in infrastructure for producing EVs. This, in turn, is expected to positively influence the demand for metals in electric vehicle charging infrastructure. Thus, Europe is expected to hold more than 30% market share for metals in electric vehicle charging infrastructure.

Rapid Adoption of Electric Vehicles Surging Demand for Metals in Electric Vehicle Charging Infrastructure in Asia Pacific?

Growing demand for EVs in countries like India and China is driving the growth for metals in electric vehicle charging infrastructure. Moreover, countries like India are speeding up their infrastructure facilities to increase the adoption of EVs in the country through schemes like the Faster Adoption and Manufacturing of Electric Vehicles.

Thus, Asia Pacific is expected to dominate the market for metals in electric vehicle charging infrastructure by possessing more than 50% market share in the forecast period.

Category-Wise Insights

Low Cost Gaining Popularity of Copper for Metals in Electric Vehicle Charging Infrastructure?

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 of charging infrastructure.

Thus, by metals, copper is expected to account for more than 30% market share metals in electric vehicle charging infrastructure.

Government Initiatives Surging Demand for Metals in Electric Vehicle Charging Infrastructure?

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.

Owing to the above factors, by end use, commercial segment is expected to hold more than 75% market share for metals in electric vehicle charging infrastructure.

Competitive Landscape

• In November 2021, Alcoa Corporation announced its plan to design aluminium refinery of the future.  The company is focusing on reinventing its aluminum production by reducing the 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.

Report Scope

Attribute	Details
Forecast Period	2022-2032
Historical Data Available for	2015-2021
Market Analysis	US$ Mn for Value ‘000 Units for Volume
Key Regions Covered	North America Latin America Europe Asia Pacific Middle East & Africa
Key Countries Covered	U.S Canada Brazil Mexico Germany France U.K Italy BENELUX Nordics China Japan South Korea GCC South Africa Turkey
Key Segments Covered	Metals Charging Port End Use Region

Key Segments Covered in the Metals in Electric Vehicle Charging Infrastructure Report

• 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