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Global Electric Vehicle Infrastructure Market is Set to Expand by the End of 2021

Growing installation of electric vehicle chargers would surge the market for electric vehicles infrastructure

Pakistan: Dewan motors in Pakistan has inaugurated first public charging station in the country at the Emporium mall in Lahore. The charging station has been developed by the BMW Group and it will support charging for hybrid and electric vehicles. The development of electric vehicles infrastructure in Pakistan will develop a new market for the same leading to expansion in regional market for the same. The manufacturers of electric vehicle infrastructure looking to foray into untapped market of electric vehicles which will drive the business for electric vehicle infrastructure during the forecast period.

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.

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