The launch of electric vehicles to drive the EV infrastructure market
The launch of microbus as electric vehicle by Volkswagen is a big boost
for electric vehicle infrastructure market
USA: The old model of microbus
offered by Volkswagen has been re-introduced as electric vehicle ahead of the
North American International Auto Show in Detroit. The electric microbus has a
range of 270 miles per charge which would enable it to travel long distances.
The increasing penetration of electric vehicles is a big boost for EV
infrastructure market because with deployment of electric vehicles, the demand
for charging infrastructure would increase.
TechSci Research depicts that the governments
across the globe are focusing on reducing 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.