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India EV Charging Market Share, Size, Growth, Analysis, Forecast: By Type: Station, Portable; By Location: Retail Spaces, Workplaces, Street Parking, Highways, Depot, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
India EV Charging Market Outlook
The India EV charging market size reached a volume of approximately 1.05 million units in 2022. The market is further expected to grow at a CAGR of 22.20% between 2023 and 2028, reaching a volume of 3.86 million units by 2028.
Key Trends in the Market
Electric vehicle charging refers to the process of utilising EV charging equipment in order to deliver electricity to the battery of the electric vehicle. It is used for providing electricity to charge hybrid electric vehicles and electric vehicles and is available in varying charging capacities. Fixed stations can be set up for electric vehicle charging as well as portable charging options.
- Increasing popularity of electric vehicles is one of the crucial trends boosting the India EV charging market growth. Due to their low running costs, electric vehicles are more economically viable in the long run, this advantage is propelling various users to switch to electric vehicles.
- Technological advancements in electric vehicle charging are further fuelling the growth of the EV charging market in India. Provision of real-time information about vacant spots and convenient booking of slots for charging along with integration of Internet of Things with EV charging stations are aiding the market growth.
- Another crucial trend propelling the growth of the market for electric vehicle charging in India is rising environmental concerns. As a result of high carbon emission and release of hazardous pollutants by fuel-based vehicles, individuals are switching to electric vehicles, thus increasing the requirement for EV charging in India.
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Market Analysis
On the basis of type, the market is bifurcated into station and portable. Based on location, the market is divided into retail spaces, workplaces, street parking, highways, and depot, among others. By region, the market is segmented into North India, East India, West India, and South India.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the India EV charging market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Tata Power
- Ather Energy
- Delta Electronics India
- Charzera Tech Pvt Ltd
- Sharify Services Pvt Ltd
- TechSo ChargeZone Ltd
- Alektrify Private Limited
- YoCharge
- Jio-BP
- Others
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Market Share by Location
By location, highways are expected to account for a sizable portion of the market share for EV charging in India. Increasing efforts by the government of India towards development of electric charging stations on highways is anticipated to propel the growth of India EV charging market. Setting up electric vehicle charging stations on highways is beneficial for those driving electric vehicles long distances where there is an increased risk of low battery. The easy visibility and accessibility of highway EV charging stations make them faster to locate, and the extensive space availability simplifies the charging process. Such developments are expected to increase the adoption of electric and hybrid electric cars across the country.
Market Share by Region
States in South India such as Karnataka have large numbers of electric vehicle charging stations and are expected to add significantly more charging stations over the forecast period. This in turn is expected to aid them in acquiring a greater portion of the India EV charging market by region. Rising popularity of electric vehicles and increasing environment consciousness among the South Indian population is boosting the growth of the market in the region. The marginal difference in the price range of electric vehicles and no fuel expenditure are additional factors fuelling the growth of the market for EV charging in South India. Meanwhile, states in North India such as Uttar Pradesh are witnessing significant increases in purchasing of electric vehicles, which is likely to increase the demand for EV charging in the region.
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Competitive Landscape
Tata Power was established in 1915 and is headquartered in Mumbai, Maharashtra. They are one of the largest power generation companies in India and aim to provide uninterrupted power supply to all the regions of the country. Their responsible business practices and pioneering initiatives have minimal impact on the environment.
Ather Energy is an electric vehicle company that was founded in 2013 and is headquartered in Bengaluru, Karnataka. The company manufactures electric scooters and have an established electric vehicle charging infrastructure called Ather Grid across various parts of India. They are focused on the development of intelligent vehicles for revolutionising commute experiences.
Delta Electronics India is an electronics manufacturing company that was established in 1971 and is headquartered in Gurugram, Haryana. They are known for their computer and DC industrial fans as well as for switching power supplies. The company operates worldwide and has various research and development centres and manufacturing and sales facilities.
Other market players include Charzera Tech Pvt Ltd, Sharify Services Pvt Ltd, TechSo ChargeZone Ltd, Alektrify Private Limited, YoCharge, and Jio-BP, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Location |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India EV Charging Market Overview
8.1 Key Industry Highlights
8.2 India EV Charging Historical Market (2018-2022)
8.3 India EV Charging Market Forecast (2023-2028)
9 India EV Charging Market by Type
9.1 Station
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Portable
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 India EV Charging Market by Location
10.1 Retail Spaces
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Workplaces
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 Street Parking
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Highways
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Depot
10.5.1 Market Share
10.5.2 Historical Trend (2018-2022)
10.5.3 Forecast Trend (2023-2028)
10.6 Others
11 India EV Charging Market by Region
11.1 North India
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 East India
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 West India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 South India
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyers Powers
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Value Chain Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Tata Power
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Manufacturing Capabilities
14.2.1.4 Demographic Reach and Achievements
14.2.1.5 Certifications
14.2.2 Ather Energy
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Manufacturing Capabilities
14.2.2.4 Demographic Reach and Achievements
14.2.2.5 Certifications
14.2.3 Delta Electronics India
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Manufacturing Capabilities
14.2.3.4 Demographic Reach and Achievements
14.2.3.5 Certifications
14.2.4 Charzera Tech Pvt Ltd
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Manufacturing Capabilities
14.2.4.4 Demographic Reach and Achievements
14.2.4.5 Certifications
14.2.5 Sharify Services Pvt Ltd
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Manufacturing Capabilities
14.2.5.4 Demographic Reach and Achievements
14.2.5.5 Certifications
14.2.6 TechSo ChargeZone Ltd
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Manufacturing Capabilities
14.2.6.4 Demographic Reach and Achievements
14.2.6.5 Certifications
14.2.7 Alektrify Private Limited
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Manufacturing Capabilities
14.2.7.4 Demographic Reach and Achievements
14.2.7.5 Certifications
14.2.8 YoCharge
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Manufacturing Capabilities
14.2.8.4 Demographic Reach and Achievements
14.2.8.5 Certifications
14.2.9 Jio-BP
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Manufacturing Capabilities
14.2.9.4 Demographic Reach and Achievements
14.2.9.5 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. India EV Charging Market: Key Industry Highlights, 2018 and 2028
2. India EV Charging Historical Market: Breakup by Type (USD Million), 2018-2022
3. India EV Charging Market Forecast: Breakup by Type (USD Million), 2023-2028
4. India EV Charging Historical Market: Breakup by Location (USD Million), 2018-2022
5. India EV Charging Market Forecast: Breakup by Location (USD Million), 2023-2028
6. India EV Charging Historical Market: Breakup by Region (USD Million), 2018-2022
7. India EV Charging Market Forecast: Breakup by Region (USD Million), 2023-2028
8. India EV Charging Market Structure
Key Questions Answered in the Report
The market size reached a volume of approximately 1.05 million units in 2022.
The market is expected to grow at a CAGR of 22.20% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach 3.86 million units by 2028.
The major market drivers include the increasing sales of electric vehicles, introduction of favourable government policies, and improvement of charging infrastructure in commercial spaces.
The key trends fuelling the growth of the market include technological advancements in EV charging, popularity of portable EV charging, and reducing costs of electric vehicles.
EV cars or electric cars refer to cars that operate on electricity rather than traditional fuels.
The major regions in the market are North India, East India, West India, and South India.
The significant types of EV charging in the market include station and portable.
The various locations of EV charging in the market include retail spaces, workplaces, street parking, highways, and depot, among others.
The key players in the India EV charging market are Tata Power, Ather Energy, Delta Electronics India, Charzera Tech Pvt Ltd, Sharify Services Pvt Ltd, TechSo ChargeZone Ltd, Alektrify Private Limited, YoCharge, and Jio-BP, among others.
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