The global Electric Vehicle infrastructure market is set to expand by the end of 2021

Germany: German Electric Vehicles manufacturer Daimler has planned to launch six to nine new electric vehicles through 2024. The company has focused on diversifying its product portfolio of electric vehicles to embark upon the opportunities available in the electric vehicles industry. The increasing penetration of electric vehicles globally would lead to upsurge in the market for electric vehicles infrastructure in near future.

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 industry. With increasing focus of governments across the globe to promote the use of electric vehicles, the market for electric vehicles infrastructure is expected to expand 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 increase in development of battery technologies and charging protocols is a big boost for electric vehicle infrastructure. The enhancement in battery technology and universal charging protocols would lead to upsurge in demand for electric vehicles and expansion in market for electric vehicle infrastructure globally.