Google recently introduced Google Maps Android API v2. A lot of new features have been added. However, the users need to have Google Play Services apk installed on their phone to run new maps. Google has been rolling out updates through Google Play Store to install the Play Services apk. To learn more about it and getting started with the new maps follow this link.
But, these new maps are not supported in the emulator for the time being. Only physical phones are supported.
Like you, it pissed me off. But, if you get to install Play Store in your emulator, and then install Play Services apk, you will raise your hands with joy. Let’s begin.

Download Project

Installing Play Store in emulator.
apks needed:
1. GoogleLoginService.apk
2. GoogleServicesFramework.apk
3. Vending.apk or Phonesky.apk (either one)
Open your command prompt, and enter the following commands.

Check out your emulator you have Play Store installed. Now open it and add your Google account. Most probably you won’t be able to see apps in the store after login. Let’s save that for other day.

Play Store

Installing Google Play Services
apk needed:
1. GooglePlayServices.apk

Now run the following command

And, it’s installed too. You can see it in applications under settings.

Play Services

Now run one of your new maps application. I have included a demo maps application in the download link above. Try that.

Maps working on emulator