GVR Report cover Copper In Electric Vehicle Charging Infrastructure Market Size, Share & Trends Report

Copper In Electric Vehicle Charging Infrastructure Market Size, Share & Trends Analysis Report By Charge Ports (Level 1, Level 2), By End-user (Commercial, Private), By Region, And Segment Forecasts, 2021 To 2028

  • Report ID: GVR452056
  • Number of Pages: 0
  • Format: Electronic (PDF)

The global copper in the electric vehicle charging infrastructure market is projected to grow because of the rising demand for electric vehicles and the growing need to expand the infrastructure for charging.

A positive demand trend for electric vehicles is projected to benefit the long-term market growth. For instance, total automotive sales in the U.S. have declined in the last 3 years in a row. However, sales of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) have shown exponential growth in the recent past. Combine sales of PHEVs and BEVs in the country have increased from around 150 thousand units in 2016 to over 300 thousand units in 2020.

Copper In Electric Vehicle Charging Infrastructure Market Segmentation

Segments

Details

Charge Ports

Level 1; Level 2; DC Fast Charging

End-users

Commercial Charging Station; Private Charging Station

Region

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

 

Investments in electric vehicle charging infrastructure are projected to remain a key driving factor for the market growth. This can be attributed to the lowering of carbon footprint through the use of alternative energy sources such as electricity for automotive & transportation. The U.S. government is set to introduce a plan for clean energy and green infrastructure with an investment of USD 3 trillion. First revealed in 2020, the plan is projected to include upgrades for electric vehicle infrastructure, along with the expansion of broadband networks.

Similarly, emerging countries such as India and Brazil are projected to attract large investments in electric vehicle charging infrastructure. As per the NITI Ayog, an Indian government entity, the country needs one charging station every 25 kilometers on the highway. Recently, Kazam announced its plan to install around 1 lack charging station in the country by 2023. Kazam is internet of things (IoT) based electric charging station and related solutions provider.

European countries are also extremely focused on the expansion of electric charging infrastructure, thus representing an investment opportunity for copper market participants. In the UK, the government has announced its plan to halt the sales of new gasoline and diesel engines by 2030. Germany also introduced 130 billion euro recovery budget, wherein subsidies are allocated to buyers for the purchase of battery-powered vehicles.

A research study by the International Copper Association indicates, that with the growing demand for electric vehicles, the copper required in the utilization of charging infrastructure is projected to increase over the coming years. As per the same study, nearly 1.1-1.2 kg of copper is required for every kW-hour of lithium battery. Also, 8 kg of copper is required in the manufacturing of a 200 kW charger.

The research also indicated that nearly 100 kilotons of new copper demand will be required for EV charging equipment by 2027. In infrastructure, copper is consumed in charging units, wiring of electrical panels, charging cables, and new electricity generation. Charging units typically require 3 feet of electric copper wire, therefore installation of new charging infrastructure is projected to attract significant demand over the forecast period.

Based on charge ports, the market has been categorized into level 1, level 2 and DC fast charging. Level 1 charge ports segment is anticipated to progress at a lucrative pace over the forecast period. Level ports are rated at 120 volts and require 16 to 20 hours to fully charge depending upon battery capacity. These ports only require a three-pin wall socket and charging cable.

Demand for charging stations with rapid charging technology is projected to attract significant demand over the coming years. DC fast chargers take around 15 to 45 minutes to charge the vehicle, and thus they are projected to attract the fastest demand in the long run. As per the Department of Energy, there are over 45,000 charging stations located in the U.S. with 111,000 total ports. Out of these ports, only 5,500 are DC fast chargers.

Based on end-user, the global copper in the electric vehicle charging infrastructure market has been categorized into commercial and private charging stations. The commercial segment was the largest segment in 2020 and is likely to maintain its share over the coming years. It includes facilities such as apartments, hospitality & restaurants, parking, workplaces, hospitals, university campuses, auto dealerships, entertainment, and malls among others.

Based on region, Asia Pacific is projected to remain the fastest-growing market over the coming years. High volume production of EVs, batteries, and components required for charging infrastructure is projected to attract the rapid demand for copper products in Asia. Countries such as China, Japan, South Korea, and India are likely to lead the demand for copper products in the region.

Rapidly increasing prices of copper is likely to affect the dynamics of copper in the electric vehicle charging infrastructure market. This is projected to open new avenues for market vendors in copper recycling businesses. Some of the vendors of the market include Rio Tinto, Southern Copper Company, Codelco, Glencore, Vale, Freeport-McMoRan, BHP, KGHM Polska Miedź, Antofagasta, and First Quantum Minerals among others.

Copper in Electric Vehicle Charging Infrastructure Market Report Scope

Report Attribute

Details

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Charge ports, end-user, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; UK; France; Russia; China; India; Japan; South Korea; Brazil; Saudi Arabia

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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