Under a scenario where global energy consumption reduces by three percent annually, copper demand would experience a cumulative increase of 17,672 Kt over ten years against a base level, according to a study by Navigant/Guidehouse Research. Based on the activity of the Three Percent Club, a collaboration of governments and supporting organizations that commit to working together to put the world on a path to three percent annual efficiency improvement, the new research found copper demand would grow in six technology groups across transport, buildings and industry sectors.
The research, which was commissioned by the International Copper Association (ICA), found that the largest opportunity for demand gains originates from increased energy efficiency in the transportation sector, driven by growth in electric vehicles and plug-in hybrids. In the three percent scenario, demand would increase at an 11.8 percent compound annual growth rate (CAGR) in the transport sector. Transport is also the sector most likely to achieve the three percent scenario due to existing and expected transportation electrification policy in several countries.
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