As per a report by International Copper Association, Copper demand will be substantially impacted by the growing market for electric vehicles (EVs) over the next decade. The study, titled Copper Intensity in the Electrification of Transport and the Integration of Energy Storage, was conducted by IDTechEx. It provides new details on the important role copper plays in EV technology.
The study states that by 2027, an estimated 27 million electric vehicles (including HEV, PHEV, BEV, Ebus HEV and BEV) will be on the road, up from 3 million in 2017. This will raise copper demand in EVs from 185,000 tonnes in 2017 to 1.74 million tonnes in 2027. In addition, each EV charger will add 0.7 kg of copper. Fast chargers can add up to 8 kg of copper each.
All types of EV require a substantial amount of copper. It is used in batteries, windings and copper rotors used in electric motors, wiring, busbars and charging infrastructure. The demand for electric vehicles is expected to see major growth over the next ten years, driven by technology improvements, increased affordability and the deployment of more electric chargers. This increase will cause a greater demand for copper. Copper’s use in electro-mobility may become even greater with the emergence of energy independent vehicles (EIV) that use copper-powered solar photovoltaic panels to harness renewable energy.