New Delhi, Dec. 10 -- Global silver demand from the automotive industry is projected to grow steadily at a CAGR of 3.4 per cent between 2025 and 2031, as the metal continues to play a pivotal role across emerging technologies and green transition industries, according to a research report released by Oxford Economics, a global advisory firm.

The report highlighted that silver is increasingly being referred to as a "next-generation metal" due to its growing applications in electric mobility, renewable energy, and digital systems.

Oxford Economics stated, "We forecast global silver demand by the automotive industry will increase at a CAGR of 3.4 per cent between 2025-2031 and reach approximately 94 million ounces 2031."

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