India Electric Vehicle Charging Station Market Size Expected to Rise at 8.90% CAGR during 2022-2027

IMARC Group has recently released a new research study titled "India Electric Vehicle Charging Station Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

What are the growth prospects of the India electric vehicle charging station industry?

The India electric vehicle charging station market is expected to exhibit a CAGR of 8.90% during 2022-2027.

What is a India electric vehicle charging station?

Electric vehicle (EV) charging stations are specified locations that connect electric vehicles (EVs) with electricity sources for charging and functioning efficiently. They comprise a power grid, an electric vehicle charger, facility meter, energy controller, network operating center, software platform, and an inverter. They are integrated with software that helps monitor the charger, conduct automatic fault detection, live meter display, track payments and billings, manage users, and interact via the dashboard. They are installed in petrol pumps, residential complexes, and shopping malls to charge vehicles. They are constructed in commercial areas to increase the value of the property and attract more customers and EV owners. EV charging stations are also installed in workplaces to draw and retain employees who prefer charging their EVs during working hours. They assist in reducing the impact of air pollution and greenhouse gas emissions. As EV charging stations are energy-efficient and user-friendly, they are installed in the parking spaces of various industrial areas, hospitals, and schools across India.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What are the major market drivers in the India electric vehicle charging station market?

At present, there is an increase in the demand for EV charging stations due to the rising sales of electric cars and bikes in India. This, along with the burgeoning automobile industry, represents one of the key factors driving the market. In addition, the growing construction of high-capacity EV charging stations by facility management and power companies is positively influencing the market. Besides this, the rising environmental awareness among the masses of the country about the harmful impacts of air pollution and greenhouse gas emissions is propelling the growth of the market. Additionally, the Government of India is undertaking various initiatives to enhance the manufacturing and usage of electric vehicles (EVs). They are also providing subsidies to promote the usage of EVs, which is contributing to the growth of the market in the country. Apart from this, the growing adoption of EVs in India due to the increasing focus on improving the air quality in urban areas and reducing oil imports is offering a favorable market outlook. Moreover, the increasing adoption of electric mobility due to the rising prices of petrol and diesel in the country is strengthening the growth of the market. Furthermore, key market players operating in India are investing in research and development (R&D) activities to introduce enhanced features in EV charging stations, such as fast charging facilities, to improve customer experience. This is expected to bolster the growth of the market.

India Electric Vehicle Charging Station Market 2022-2027 Competitive Analysis and Segmentation:

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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