India Electric Vehicle Charger Market Industry Analysis, Size, Share, Growth and Forecast 2025

India electric vehicle charger market is anticipated to grow at a CAGR of over 25.0% during the forecast period, 2019-2025. The country is the most polluted cities across the globe. As per the World Economic Forum, in 2018, 22 out of 30 most polluted cities of the globe are of India, and automobile vehicles are one of the major sources of air pollution in these cities. Increasing awareness toward adoption of electric vehicles, focus on new electric vehicle launch, government subsidies are some of the major factors for the growth of the electric vehicles and its charging infrastructure market. By 2023, the government of India aims to electrify all the three-wheeler by 2023 and all the two-wheelers by 2025. By 2030, the country aims to have a market share of 30% of electric vehicles (except two-wheelers) in its total vehicle fleet under EV30@30 campaign.

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Major players operating in the market include ABB Ltd., Ather Energy Pvt Ltd, SemaConnect, Inc., Siemens AG, ZEVpoint and others.

In February 2019, the government of India, allocated $1.4 billion to motivate the electric vehicle market in the country under FAME Phase II (Faster Adoption and Manufacturing of Electric Vehicles) project between 2019 and 2022. Around $140 million (10% of the total budget) was allocated for the charging infrastructure with a target of setting up 2,700 charging stations in cities with above 4 million populations. The government also aims to develop fast-charging stations at every 25 km interval and ultra-fast charging station at every 100 km on the highways.

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India electric vehicle charger market is segmented on the basis of ownership, charger type, and connector type. Based on ownership, the market is segmented into public and private. During the forecast period, public chargers are forecast to have a major market share in the country. By charger type, the market is bifurcated into slow chargers and fast chargers. Slow chargers had a major market share in 2018 in the country. By connector type, the market is analyzed into AC connectors and DC connectors. AC connector market is further divided into Type 1, Type 2 and other chargers, whereas the DC connector market is further divided into CHAdeMO, Combined Charging System (CCS), Type 2 (Tesla) chargers. Tesla vehicle is not introduced in the country as of February 2020, however, it is expected that the company will introduce its vehicle in the country by the end of 2020. The market players are significantly working in the market growth by the adoption of multiple growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Market Segmentation

Electric Vehicle Charger Market by Ownership

o Public
o Private

Electric Vehicle Charger Market by Charger Type

o Slow Charger
o Fast Charger

Electric Vehicle Charger Market by Connector Type

o AC Connectors
o Type 1
o Type 2
o Other (Domestic Socket)
o DC Connectors
o Combined Charging System (CCS)
o Type 2 (Tesla)

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