Global Electric Vehicle Infrastructure Market is set to Expand by the end of 2021
Canada: The New Brunswick
government has decided to expand the use of electric vehicles and encourage the
same as a part of its climate change action plan. It has set a target of 2,500
electric vehicles on the road by the end of 2020 and 20,000 by 2030. The
transportation sector in the New Brunswick province contributes 30% of all
greenhouse gas emissions. The deployment of electric vehicles would decrease
the greenhouse gas emissions from the transportation sector, thereby leading to
reduction in air pollution.
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.