Global Electric Vehicle Infrastructure Market is set to Expand by the end of 2021
Australia: Vehicle manufacturer
BMW and Scentre Group entered into a partnership to install 40 new electric
vehicles charging stations at 10 Westfield shopping centers across New South
Wales, Queensland and Victoria. There are currently 8,000 electric vehicles in
Australia which is expected to increase to 35,000 by the end of 2024. The
partnership between Scentre Group and BMW Group would promulgate the
infrastructure development to support the deployment of electric vehicles
infrastructure in Australia.
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.