Global Electric Vehicle Infrastructure Market is set to Expand by the end of 2021
Europe: Major automobile companies
i.e. BMW, Daimler, Ford, etc. have signed a memorandum of understanding to
create ultra-fast charging infrastructure for electric vehicles in Europe. The
major automobile manufacturers have planned the development of charging infrastructure
to support the electric vehicle deployment in the region. The execution of the
project for development of electric vehicle infrastructure in Europe would
commence by 2017.
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.