48 EV Charging Networks to be Established in 35 U.S. states

United States: The U.S. government announced its plans to boost the electric vehicle network on nearly 25,000 miles of highways in 35 U.S. states. Out of this, 28 states, utilities and vehicle manufacturers including General Motors Co, BMW AG and Nissan Motor Co and EV charging firms have joined together to start additional charging stations on corridors, under the Highway Law.

TechSci Research depicts adoption of electric vehicles in developed nations is high due to higher per capita purchasing power. However, growing initiatives to establish electric vehicle networks in different corridors which boost the electric vehicle infrastructure market, globally. Increasing level of pollution creates a huge opportunity for adoption of electric vehicles and development of electric vehicle infrastructure during 2016-2021. The option of power trading for electric vehicles owners is positively influence the global electric vehicle infrastructure market during the forecast period.

According to released report of TechSci Research, “Global Electric Vehicle Infrastructure Market By Type, By Installed Location, By Region, Competition Forecast and Opportunities, 2011 - 2021”, the global market for electric vehicle infrastructure is forecast to grow at a CAGR of over 27% during 2016-2021, on account of favorable government policies that promote adoption of electric vehicles and growing concerns over harmful effects of air pollution. Evolution of smart grid technologies and the concept of virtual power plants is forecast to further boost the global market for electric vehicles and its related charging infrastructure in the coming years.