EV Charging Station Raw Materials Market to Be Worth $8.1 Billion by 2031 - Exclusive Report by Meticulous Research®

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Jun 18, 2024, 10:16 ET

REDDING, Calif., June 18, 2024 /PRNewswire/ -- According to a new market research report titled, 'EV Charging Station Raw Materials Market by Material Type (Metals & Alloys (Stainless Steel, Aluminum, Copper), Polymers (PC Resins, Elastomers, TPU)), Application (Cords, Displays), Charging Type, and Geography—Global Forecast to 2031,' the EV charging station raw materials market is projected to reach $8.1 billion by 2031, at a CAGR of 35.6% from 2024–2031. In terms of volume, the market is expected to reach 1,09,248.5 metric tons by 2031, at a CAGR of 12.7% from 2024–2031.

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An electric vehicle charging station provides electric energy to recharge EVs. The rising need to reduce carbon emissions and other harmful pollutants associated with traditional transportation has increased the demand for EV charging infrastructure for both commercial and residential applications. As a result, there is a surge in demand for raw materials like high-strength metals, alloys, and polymers, essential for manufacturing EV charging infrastructure. These materials undergo specialized processing to ensure that the charging infrastructure meets both aesthetic and operational standards.

The global EV charging station raw materials market is segmented by material type (metals & alloys (copper, stainless steel, carbon steel, aluminum, nickel, titanium, chrome, other metals & alloys), polymers (thermoplastic polyurethanes, polycarbonate blends, polyurethanes, elastomers, polycarbonate resins)), application (cords, internal wiring, enclosures, connector guns, thermal switches, displays, flexible conduits, electric circuit breakers, energy meters and timers, cable hangers, nylon glands/lock nuts, charger plug holsters, other applications), charging type (level 2 charging, DC fast-charging, level 1 charging). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on material type, the global EV charging station raw materials market is segmented into metals & alloys and polymers. In 2024, the metals & alloys segment is expected to account for the larger share of around 60% of the EV charging station raw materials market. This segment's large market share can be attributed to the surge in electric vehicle adoption, increasing investments and initiatives by electric mobility stakeholders to deploy wireless EV charging systems, and increasing government initiatives aimed at promoting the use of EVs. Metals and alloys possess the essential physical and aesthetic properties necessary for manufacturers to meet design and operational standards for electric vehicles and charging stations at optimal prices. Among these, stainless steel, aluminum, copper, nickel, and titanium are the most utilized raw materials within the electric mobility ecosystem.

Based on application, the global EV Charging Station Raw Materials market is segmented into cords, connector guns, enclosures, charger plug holsters, nylon glands/lock nuts, electric circuit breakers, energy meters and timers, internal wiring, flexible conduits, thermal switches, cable hangers, displays, and other applications. In 2024, the cords segment is expected to account for the largest share of around 61% of the EV charging station raw materials market. This segment's large market share can be attributed to the frequent replacement of EV charging station cords due to their low operational lifespan, the global surge in EV adoption, the rising demand for high-power charging (HPC) cables, and technological advancements in EV charging cables, including innovations like liquid-cooling.

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Based on charging type, the global EV Charging Station Raw Materials market is segmented into Level 1 charging, Level 2 charging, and DC fast-charging. In 2024, the Level 2 charging segment is expected to account for the largest share of around 85% of the EV charging station raw materials market. This segment's large market share can be attributed to government funding and incentives aimed at the installation of Level 2 charging stations, the lower installation costs of Level 2 charging stations compared to DC fast-charging stations, and their greater efficiency, offering reduced charging times compared to Level 1 charging stations.

Based on geography, the EV Charging Station Raw Materials market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of around 59% of the EV charging station raw materials market. Asia-Pacific's significant market share can be attributed to the growing demand for EVs in countries such as China and Japan and rising government initiatives to reduce greenhouse gas emissions. Additionally, electrification presents various opportunities across the value chain. For economies with well-established automotive manufacturing hubs like Indonesia and Thailand, it offers opportunities to expand their EV and charging station production. Moreover, it allows less developed economies to advance their automotive manufacturing capabilities.

The key players operating in the global EV charging station raw materials market are Ryerson Holding Corporation (U.S.), DOMO Chemicals GmbH (Germany), DuPont de Nemours, Inc. (U.S.), SABIC (Saudi Arabia), BASF SE (Germany), thyssenkrupp AG (Germany), Covestro AG (Germany), Evonik Industries AG (Germany), POSCO (South Korea), Trinseo S.A. (U.S.), Celanese Corporation (U.S.), and Lanxess AG (Germany).

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Scope of the Report:

EV Charging Station Raw Materials Market Assessment—by Material Type

Metals & Alloys
- Copper
- Stainless Steel
- Carbon Steel
- Aluminum
- Nickel
- Titanium
- Chrome
- Other Metals & Alloys
Polymers
- Thermoplastic Polyurethanes
- Polycarbonate Blends
- Polyurethanes
- Elastomers
- Polycarbonate Resins

EV Charging Station Raw Materials Market Assessment—by Application

Cords
Internal Wiring
Enclosures
Connector Guns
Thermal Switches
Displays
Flexible Conduits
Electric Circuit Breakers
Energy Meters and Timers
Cable Hangers
Nylon Glands/Lock Nuts
Charger Plug Holsters
Other Applications

EV Charging Station Raw Materials Market Assessment—by Charging Type

Level 2 Charging
DC Fast-Charging
Level 1 Charging

EV Charging Station Raw Materials Market Assessment—by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Morocco
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- UAE
- Israel
- Rest of Middle East & Africa

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