New Zealand Electric Vehicle infrastructure market is set to expand by the end of 2021
New Zealand: German auto giant BMW
has partnered with Charge Net NZ to build 100 Direct Current (DC) charging
station in New Zealand to provide fast charging infrastructure for electric
vehicles in the country. The development of fast charging infrastructure in the
country would increase the uptake of electric vehicles in the country and the
move has been welcomed by the government. The government of New Zealand has set
a target to double the number of electric vehicles by the end of 2021 and
ensure electric vehicles comprise of 2% of the country's current light vehicle
fleet.
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.