The automotive industry is growing due to increased demand for new vehicles and the global shift towards electric and hybrid vehicles.

Technological advancements are also a key driver for growth in the automotive industry.

Copper plays a vital role in vehicles, and its consumption is predicted to exceed 5 million metric tons yearly by 2034.

The shift to electric vehicles will change the demand for copper from traditional components to components like lithium-ion batteries, electric traction motors, high-voltage cables, and power electronics.

Automation technologies in vehicles also increase the demand for copper due to the need for more sensors and electronic components.

Automotive stocks like Volvo, Visteon, and Rush Enterprises are expected to potentially gain from this growing industry.