Global Electric Vehicle Infrastructure Market is set to Expand by the end of 2021

Canada: The New Brunswick government has decided to expand the use of electric vehicles and encourage the same as a part of its climate change action plan. It has set a target of 2,500 electric vehicles on the road by the end of 2020 and 20,000 by 2030. The transportation sector in the New Brunswick province contributes 30% of all greenhouse gas emissions. The deployment of electric vehicles would decrease the greenhouse gas emissions from the transportation sector, thereby leading to reduction in air pollution.

TechSci Research depicts that the governments across the globe have focused on reduction of harmful gas emissions from the automobile sector, thereby formulating policies to increase the penetration of electric vehicles in the transportation sector. With increasing focus of governments across the globe to promote the use of electric vehicles the demand for electric vehicle infrastructure would increase in near future.

According to released report of TechSci Research “Global Electric Vehicle Infrastructure Market Forecast & Opportunities, 2021”, the global electric vehicle infrastructure market is projected to grow at a CAGR of 27% by the end of 2021. The growth is expected on account of increasing number of electric vehicles globally and governments’ policy to promote the adoption of electric vehicles. The development of battery technologies and enhancement in charging protocols is a big boost for electric vehicle infrastructure. The development of battery technology and universal charging protocols would lead to upsurge in demand for electric vehicles and expansion in market for electric vehicle infrastructure globally.