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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
India EV Charging Market Analysis by Region
South India region leads the market due to favourable government support regarding development of charging stations
The South Indian region has emerged as a leader in the EV charging market in India, particularly in states like Karnataka and Tamil Nadu. These states have been proactive in implementing progressive policies and supporting the development of charging infrastructure. The Bangalore Electric Mobility Mission, for example, has set a target of 1 million electric vehicles on the road by 2030, accompanied by a plan to install 100,000 public charging points.
In the West, states like Maharashtra and Gujarat are leading the India EV charging market growth. The region's proactive approach towards sustainable transportation solutions has been bolstered by government support in the form of incentive schemes. The Maharashtra Electric Vehicle Policy 2021 aims to establish 500,000 public charging stations by 2025, while Gujarat has set up a network of fast-charging stations along major highways.
In the North, the market is experiencing rapid growth, driven by a surge in EV sales. Government initiatives, such as the Delhi Electric Vehicle Policy 2020 and the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2019, have played a crucial role in encouraging EV adoption and the development of charging infrastructure.
India EV Charging Market Report Snapshots
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.*
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Key Questions Answered in the Report
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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124