info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

Copper Sees Growing Demand With Growing Production Of Electric Vehicles

By Shubhendra Anand , 08 May, 2024

The copper market is experiencing a surge in demand in light of the increasing production of electric vehicles. The surveys conducted in 2024 suggest that the copper market will experience exponential growth by 2035. Artificial intelligence (AI) will play an important role in the copper hike and the demand for electric vehicles in 2024.

The survey reports show that copper demand is expected to surpass 10 million metric tons by the end of 2035. The copper market is soaring high due to the increasing production of electric vehicles in the light of the clean energy transition. The green energy transformation will lead to the set-up of power infrastructure in 2024. Therefore, the copper market sees increasing demand for the metal to power such a transformation process. Copper market conditions suggest that one-third of the copper demand comes from the automotive sector when producing electric vehicles. Experts agreed on the same as they added electricity generation and distribution make up one-third of the copper demand. The growing usage of artificial intelligence in data centers is one primary reason for the hike in copper demand in the market. A significant company that deals with the supply of commodities reports that artificial intelligence alone can lead to one million tonnes per annum of copper demand by the end of 2030.

Investment banks add that the copper market is expected to go through a secular bull market due to the growing decarbonization process. A secular bull market can be explained as a market that helps build forces that affect commodity prices for a long time. However, the prices for coppers may change in the next three years due to fluctuating market conditions. Therefore, increasing copper demand is a good sign, and production should match the market demands.

Copper Market Futures Till April 2024

Vehicles.png

Latest News

2025.png
Elsevier Unveils ScienceDirect AI in 2025 to Revolutionize Research Efficiency

In March 2025, Elsevier launched ScienceDirect AI, a world-renowned leader in science and health information science. This state-of-the-art generative AI tool can potentially transform the industry with its revolutionary advances in research. This…

Read More

Drop.png
EV Revolution: Battery Prices Drop Below USD 100/kWh Amid China's Dominance of the Market in 2025

The global electric vehicle (EV) industry has reached a pivotal milestone. The average price of lithium-ion battery packs has dropped below the USD 100 per kilowatt-hour (kWh) threshold, a benchmark long considered critical for achieving price parity…

Read More

2025.png
China Accelerates Push for Domestic EV Chips Amid Global Trade Tensions in 2025

In 2025, China will focus on self-sufficiency in high-tech industries by further integrating domestically produced semiconductor chips into the country\'s electric vehicle (EV) industry. By doing so, China aims to reduce reliance on foreign…

Read More

2030.png
General Motors Leverages AI to Revolutionize Manufacturing in 2025

GM will implement artificial intelligence (AI) in the company's facilities in 2025 to improve safety, quality, and efficiency. This appears to be another strategic initiative from GM aimed at innovation and operational improvement.

At GM, one of the…

Read More

2025.png
Honda and Renesas Collaborate for Next-Gen Software-Defined Vehicles in 2025

In January 2025, Honda Motor Co., Ltd. and Renesas Electronics Corporation declared a strategic collaboration to create a high-performance system on a chip (SoC) designed for Software Defined Vehicles (SDVs). This cooperation is intended to bolster…

Read More

Author Pic
Shubhendra Anand

Head Research