According to TechSci Research report “Global Electric Vehicle Infrastructure Market By Type, By Installed Location, By Region, Competition Forecast and Opportunities, 2011 - 2021”, the global market for electric vehicle infrastructure is forecast to grow at a CAGR of over 27% during 2016-2021
Electric Vehicle Infrastructure Market 2021 - brochure
1. M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
Global Electric Vehicle Infrastructure
Market By Type, By Installed Location,
By Region, Competition Forecast and
Opportunities, 2011 - 2021
11. I n d u s t r y B r i e f
11
Electric Vehicle Infrastructure Market Set to Grow at CAGR 27% till 2021
Rising adoption of electric vehicles and increasing government focus on reducing carbon emissions to drive global electric
vehicle infrastructure market through 2021
According to TechSci Research report “Global Electric Vehicle Infrastructure Market By Type, By Installed Location, By
Region, Competition Forecast and Opportunities, 2011 - 2021”, the global market for electric vehicle infrastructure is
projected to grow at a CAGR of over 27% during 2016-2021, on account of increasing electric vehicle fleet size and
implementation of stringent regulations by local governments to promote use of electric vehicles in the transportation sector.
Rising concerns over Increasing pollution from the transportation sector and depleting natural resources is leading to
adoption of policies that discourage use of conventional vehicles and promote the use electric vehicles, which is in turn
anticipated to bolster growth in global electric vehicle infrastructure market during 2016-2021. Global sales of electric
vehicles are forecast to reach 3.86 million units by 2020, up from 1.37 million units in 2012.
In 2013, the transport sector accounted for a share of 23% in the overall global carbon dioxide emissions. Increasing
penetration of electric vehicles in the transport sector is projected to reduce pollution and lower dependence on
conventional fuels. Consequently, with increasing use of electric vehicles across the globe, global electric vehicle
infrastructure market is projected to witness an upsurge in the forecast period. Furthermore, incentives and subsidies offered
by local governments and deployment of rapid charging infrastructure for quick charging of electric vehicles is projected to
increase adoption of these vehicles and related charging infrastructure across commercial and residential sectors. In order to
promote the use of electric vehicles, governments across the globe are focusing on the development of robust charging
infrastructure.
“Demand Response Program, conducted by electric utilities, is projected to fuel growth in the global electric vehicle
infrastructure market during the forecast period. This program enables electric vehicle owners to feed electricity back to the
grid, thereby helping owners reduce total cost of ownership of electric vehicles. Demand Response Program aims at
managing load profile of electricity grid, with electric vehicle owners being able to manage their consumption and also feed
power back to the grid.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.