Electric Vehicle Infrastructure Market Set to Grow at CAGR 27% Till 2021: TechSci Research Study
NEW YORK, June 8, 2016 /PRNewswire/ --
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.
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Global Sector Wise CO2 Emissions, By Percentage, 2013
Sector Wise CO2 Emissions Percentage
Electricity & Heat 42%
Transport 23%
Industry 19%
Residential 6%
Services 3%
Others 7%
Others include agriculture, forestry, etc.
Source: IEA
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.
Browse 17 market data Tables and 51 Figures spread through 167 Pages and an in-depth TOC on
"Global Electric Vehicle Infrastructure Market"
"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.
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"Global Electric Vehicle Infrastructure Market By Type, By Installed Location, By Region, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of global electric vehicle infrastructure market and provided statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in global electric vehicle infrastructure market.
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