The Global Electric Vehicle Infrastructure Market Poised to Expand by 2021

United States: Six electric vehicles have been added in the city fleet in Middletown to ensure that municipal employees make zero emissions, low cost trip, in the city. The vehicles known as Ford Focus Electric can drive up to 76 miles on a single charge and it is estimated that the electric vehicles would save gasoline of around USD4,000 per year. Middletown had earlier applied for grant of USD115,064 under state Department of Energy and Environmental Protection which also paid for purchase and installation of six charging stations with two ports each.

TechSci Research finds out that with growth in demand of electric vehicles globally, the market for electric vehicles infrastructure is going to expand by the end of 2021. The governments across the globe are promoting the use of electric vehicles by providing subsidies and incentivizing the same. The increase in penetration of electric vehicles in transportation leads to reduction in greenhouse gases emissions. The upsurge in penetration of electric vehicles will pose a huge requirement for electric vehicle infrastructure globally.

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 increasing number of electric vehicles will require development of charging stations at public places which will drive the market for electric vehicle infrastructure globally.