The Introduction of New Electric Vehicles (EV) Would Drive its Infrastructure Market

US: The global automaker, Tesla motors has introduced the longest range electric car known as S 100D which has a range of 335 miles on full charge. The range of company’s electric vehicles is the major driver for electric vehicles business globally. The enhanced range of electric vehicles would provide a big thrust to its market and will lead a to an increase in the demand for electric vehicles infrastructure, globally. On account of increasing penetration of electric vehicles, the EV infrastructure market is expected to expand in near future.

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.