Global Metals in EV Charging Infrastructure Market to Grow at 18% CAGR: Report

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. 

February 22, 2022. By News Bureau

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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