According to the latest report by IMARC Group, titled, “India Electric Vehicle Charging Station Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The India electric vehicle charging station market is expected to exhibit a CAGR of 8.90% during 2022-2027.
Electric vehicle charging stations supply electric energy for the charging of plug-in electric vehicles (EVs) and hybrid electric vehicles (HEVs). It comprises a power grid, energy controller, EV charger, facility meter, software platform, and network operating center. It also includes advanced features, such as smart metering, cellular capability, and network connectivity. As it assists in reducing greenhouse gas (GHG) emissions and maintenance costs and improving public health, the demand for electric vehicle charging stations is rising in India.
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India Electric Vehicle Charging Station Market Trends and Drivers:
At present, the increasing demand for EVs due to their convenience and high efficiency as compared to internal combustion engine (ICE) vehicles represents one of the key primary factors propelling the market growth in India. Besides this, technological advancements in the EV charging to reduce the time of charging are offering a positive market outlook in the country. Apart from this, the Government of India is undertaking several initiatives for promoting the usage of EVs as they are an environment-friendly source of transportation. They are also providing various incentives, subsidies, and reimbursements to the owner of EVs, which is contributing to the market growth in the country. The integration of EV charging stations with advanced technologies, including remote sensors, wireless connectivity, and telematics devices, is expected to stimulate the market growth in India.
India Electric Vehicle Charging Station Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on charging station type, vehicle type, installation type, charging level, connector type and application.
Breakup by Charging Station Type:
- AC Charging
- DC Charging
- Inductive Charging
Breakup by Vehicle Type:
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
Breakup by Installation Type:
- Portable Charger
- Fixed Charger
Breakup by Charging Level:
- Level 1
- Level 2
- Level 3
Breakup by Connector Type:
- Combines Charging Station (CCS)
- CHAdeMO
- Normal Charging
- Tesla Supercharger
- Type-2 (IEC 621196)
- Others
Breakup by Application:
- Residential
- Commercial
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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