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Slow chargers are high in demand due to their easy availability
As per the analysis of India EV charging market, since slow chargers are the most widely accessible in India, their demand is rising. It takes these devices 8-12 hours to fully charge an EV. The best slow chargers are designed for two-wheeler (2W) and three-wheeler (3W) electric vehicles. Also, the private automakers in India have offered their assistance in boosting the India EV charging market. For instance, Hero Electric and RevFin, a digital consumer lending platform, partenered in May 2022 to provide loans to electric vehicle (EV) riders in India. Over the next three years, the partnership hopes to finance and lease 2.5 lakh vehicles. Through this collaboration, Hero Electric will be able to provide prospective buyers the option to ride clean transportation while owning an electric two-wheeler in convenient monthly installments.
Highways segment holds a significant market share due to rising number of EV charging stations on such location
By location, highways are expected to account for a sizable India EV charging market share due to increasing efforts by the government of India towards development of electric charging stations on highways. 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 life. The easy visibility and accessibility of highway EV charging stations make them faster to locate, and the extensive space availability simplifies the charging process, thus increasing the market share of EV charging stations in India.
Another significant segment is workplaces, where semi-public charging stations are being installed in office parking lots or garages. These charging stations offer a reliable and convenient option for employees who commute to work in electric vehicles, allowing them to recharge their vehicles during the day. Companies like Magenta Power and Ampere Electric are leading the way in installing workplace charging stations in the India EV charging market.
Depot locations are helping in increasing the market value as private charging stations are being installed at fleet depots, which are used by commercial vehicles, public transportation, and logistics companies. This segment addresses the needs of those who rely on their vehicles for commercial purposes, providing them with a reliable charging solution. Companies like Magenta Power and Ampere Electric are leading the way in installing depot charging stations in the India EV charging market.
India EV Charging Market Share
India EV Charging Market Growth
India EV Charging Market Trends
India EV Charging Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 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 Asia Pacific EV Charging Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific EV Charging Historical Market (2018-2023)
8.3 Asia Pacific EV Charging Market Forecast (2024-2032)
9 India EV Charging Market Overview
9.1 Key Industry Highlights
9.2 India EV Charging Historical Market (2018-2023)
9.3 India EV Charging Market Forecast (2024-2032)
10 India EV Charging Market by Charging Type
10.1 AC
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 DC
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 India EV Charging Market by Power Output
11.1 Rapid Chargers
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Fast Chargers
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Slow Chargers
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 India EV Charging Market by Location
12.1 Street Parking
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Depot
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Highways
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Workplaces
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Retail Spaces
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 India EV Charging Market by Phase
13.1 Single Phase
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Three Phase
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 India EV Charging Market by Region
14.1 North India
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.1.3 Breakup by Charging Type
14.1.4 Breakup by Power Output
14.1.5 Breakup by Location
14.1.6 Breakup by Phase
14.2 East and Central India
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.2.3 Breakup by Charging Type
14.2.4 Breakup by Power Output
14.2.5 Breakup by Location
14.2.6 Breakup by Phase
14.3 West India
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.3.3 Breakup by Charging Type
14.3.4 Breakup by Power Output
14.3.5 Breakup by Location
14.3.6 Breakup by Phase
14.4 South India
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.4.3 Breakup by Charging Type
14.4.4 Breakup by Power Output
14.4.5 Breakup by Location
14.4.6 Breakup by Phase
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Tata Power Company Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Ather Energy Private Limited
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Charzera Tech Private Limited
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Delta Electronics, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 ABB Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Sharify Services Pvt. Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 TecSo ChargeZone Ltd.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Reliance BP Mobility Limited
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Brightblu Holding B.V
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 BPM Power Private Limited (chargeMOD)
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific EV Charging Market: Key Industry Highlights, 2018 and 2032
2. India EV Charging Market: Key Industry Highlights, 2018 and 2032
3. India EV Charging Historical Market: Breakup by Charging Type (Million Units), 2018-2023
4. India EV Charging Market Forecast: Breakup by Charging Type (Million Units), 2024-2032
5. India EV Charging Historical Market: Breakup by Power Output (Million Units), 2018-2023
6. India EV Charging Market Forecast: Breakup by Power Output (Million Units), 2024-2032
7. India EV Charging Historical Market: Breakup by Location (Million Units), 2018-2023
8. India EV Charging Market Forecast: Breakup by Location (Million Units), 2024-2032
9. India EV Charging Historical Market: Breakup by Phase (Million Units), 2018-2023
10. India EV Charging Market Forecast: Breakup by Phase (Million Units), 2024-2032
11. India EV Charging Historical Market: Breakup by Region (Million Units), 2018-2023
12. India EV Charging Market Forecast: Breakup by Region (Million Units), 2024-2032
13. India EV Charging Market Structure
In 2023, the India EV charging market reached an approximate volume of 1.28 million units in 2023.
The market is expected to grow at a CAGR of 22.20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 7.80 million units by 2032.
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.
Regions considered in the market are North India, East and Central India, West India, and South India.
The various locations of EV charging in the market include retail spaces, workplaces, street parking, highways, and depot, among others.
Key players in the market are Tata Power Company Ltd., Ather Energy Private Limited, Delta Electronics, Inc., TechSo ChargeZone Ltd, Reliance BP Mobility Limited, Brightblu Holding B.V, BPM Power Private Limited (chargeMOD), ABB Ltd., Charzera Tech Private Limited, Sharify Services Pvt Ltd, among others.
High initial investment, technological challenges, and supply chain disruptions are hampering the market growth.
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