Report ID: UCMIR15K2002
Report ID:
UCMIR15K2002 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The U.S. copper scrap market, with a 2022 valuation of USD 661.3 million, is poised for growth, projecting a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. The surge in electrification of vehicles, driven by global environmental pressures to curtail greenhouse gas emissions, is expected to be a primary growth driver. Electric vehicles demand substantially more copper, roughly three to four times more, compared to internal combustion engine (ICE) vehicles, making copper pivotal in the production of electric vehicles (EVs) and their associated infrastructure. The increasing emphasis on reducing carbon emissions via alternative energy sources has become a paramount priority not only in the United States but also worldwide.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Copper by segment aggregation, the contribution of the Copper in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIR15K2002