Growth in adoption of natural gas vehicles has been slower than previously anticipated, mostly due to drops in oil prices, as well as lower costs and increased capacity of batteries for electrified vehicles.
Navigant: 12M EVs on Global Roads in 2023
The number of plug-in electric vehicles in use is projected to reach 12 million globally by 2023, while worldwide revenue from charging services is expected to increase to $2.9 billion from $152.6 million projected for this year, according to Navigant Research.