India Electric Vehicle Charging Infrastructure Market Set for Robust Growth, Valued at High CAGR by FY2027
According to the TechSci Research report titled “India Electric Vehicle Charging Infrastructure Market By Type of Charging (Direct Charging and Battery Swapping), By Location (Highways, Cities and Others), By Application (Commercial, Residential), By Charger Type (Fast Charger, Slow Charger), By Mode of Charging (Plug-in charging system, Wireless charging system), By Company and By Geography, Forecast & Opportunities, FY2027,” the India electric vehicle charging infrastructure market is poised to witness robust growth in the next five years. Stringent government policies supporting alternative fuels and minimizing reliance on conventional fuels are key factors contributing to the growth of the electric vehicle charging infrastructure during the forecast period.
Government Initiatives and Technological Innovations Drive Market Growth
The government’s initiatives under the FAME II scheme, which includes providing subsidies for electric vehicles such as two-wheelers, three-wheelers, four-wheelers, and buses running on electricity, are expected to create lucrative opportunities for the electric vehicle charging infrastructure market. Recent developments and technological innovations, such as recycling, battery reuse, and leasing options, aimed at reducing the high upfront costs of electric vehicle charging infrastructure, are also contributing to market growth. Furthermore, the advantage of setting up separate charging stations for electric vehicles without requiring a license is expected to foster the demand for electric vehicle charging infrastructure.
Segmentation and Leading Players
The India electric vehicle charging infrastructure market is segmented based on the type of charging, location, application, charger type, mode of charging, region, and company. In terms of charger type, the market is divided into fast charging and slow charger sectors. Fast charging is projected to dominate the market until 2026 due to its quick charging time, which is less than 10 minutes compared to conventional fuel vehicles. To reduce weight and optimize overall costs, fast chargers require heavy-duty components such as AC/DC conversion, high-power levels, and installed control circuits.
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Based on location analysis, the majority of electric charging stations are built in cities and hold the largest share in 2020. However, the government has also decided to install electric charging stations on highways to provide convenience to existing and new consumers, further boosting market growth.
Leading players operating in the India electric vehicle charging infrastructure market include Sun Mobility, Mahindra & Mahindra Limited, Tata Motors Limited, Ather Energy Pvt. Ltd., Cellprop Private Limited, Exicom Tele-Systems Limited, Panasonic Corporation, Semco India Pvt. Ltd., Fortum Oyj, and ABB Group. These manufacturers are focusing on research and development to offer technologically advanced solutions that meet the evolving customer demands for efficiency and durability.
In conclusion, the India electric vehicle charging infrastructure market is poised for robust growth, driven by government initiatives, technological advancements, and increasing consumer adoption of electric vehicles. The market segmentation allows for a targeted approach, and leading players are investing in research and development to fuel market growth.
“Consistent roll-out of policies by government to support the market growth of electric vehicles charging infrastructure and permission of sales and registration of electric vehicles without batteries is expected to boost the electric vehicle charging infrastructure market. Preference shift towards cleaner and alternative fuel coupled with lower maintenance costs for electric vehicles is anticipated to fuel the market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Electric Vehicle Charging Infrastructure Market By Type of Charging (Direct Charging and Battery Swapping), By Location (Highways, Cities and Others), By Application (Commercial, Residential), By Charger Type (Fast Charger, Slow Charger), By Mode of Charging (Plug-in charging system, Wireless charging system), By Company and By Geography, Forecast & Opportunities, FY2027” has evaluated the future growth potential of India electric vehicle charging infrastructure market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India electric vehicle charging infrastructure market.
Report Scope:
In this report, India electric vehicle charging infrastructure market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Electric Vehicle Charging Infrastructure Market, By Type of Charging:
- Direct Charging
- Battery Swapping
- India Electric Vehicle Charging Infrastructure Market, By Location:
- Highways
- Cities
- Others
- India Electric Vehicle Charging Infrastructure Market, By Application:
- Commercial
- Residential
- India Electric Vehicle Charging Infrastructure Market, By Charger Type:
- Fast Charger
- Slow Charger
- India Electric Vehicle Charging Infrastructure Market, By Mode of Charging:
- Plug-In Charging System
- Wireless Charging System
- India Electric Vehicle Charging Infrastructure Market, by Geography:
- North
- South
- East
- West
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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