The global Electric Vehicle infrastructure market is set to expand by the end of 2021
United States: According to Consumer
Federation of America the interest in buying an electric car has grown since
2015 and the younger generation has displayed increased interest in electric
vehicles. According to the Consumer Federation of America 36 percent of
Americans would consider buying electric vehicles, up from 31 percent in 2015.
The growing interest in electric vehicles is attributed to increase in
knowledge about electric vehicles and its benefits.
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.