The report titled “India EV Charging Equipment Market Outlook to
FY'2026 –
Driven by Increasing Adoption of
Electric Vehicles along with Implementation of FAME II Policy by Government” provides a
comprehensive analysis of the potential of Electric Vehicle Charging Equipment industry
in India.
The report covers various aspects including the
current EV Scenario and charging infrastructure status in India, revenue
generated from EV Charging equipment, its segmentations viz Type of Charger –
Fast (DC) vs. Slow (AC), Type of Charging Stations, Application (4W vs. 3W vs.
2W), Geographic Distribution, Distribution Channel and By Organized and
Unorganized Sector, major trends and development, issues and challenges,
government regulations and product analysis. The report concludes with market
projections for future of the industry including forecasted industry size by
revenue along with analyst recommendations and key market opportunities.
India Electric Vehicle Charging
Equipment Market
India, the world's 6th largest economy by nominal GDP
and the 3rd largest by PPP, is characterized as a middle-income developing
market economy. 2- and 3- Wheelers that account for close to 50% share dominate
the Indian urban mobility modal share. EVs are slowly gaining traction with less
than 2% of vehicles deployed as EVs in India. The charging infrastructure in
India is currently quite under-developed with as many as 26 EVs percharger
available in the country, compared to only 8 in China and 17 in the US. There
are ~300 community charging stations in India, of which 22 were fast-charging
points in 202. However, India EV Charging Equipment Market gained significant
momentum after the implementation of FAME India scheme. The Department of Heavy
Industry (DHI) also planned to incentivize 1,000+ charging stations with 6,000+
chargers, which is the major growth driver for the market. Lack of Space,
Infrastructure and Manpower for Setting-Up along with High Initial Cost of
Charging Equipment and Installation are the major challenges in India EV
Charging Equipment Market.
India Electric Vehicle Charging
Equipment Market Segmentation
By Type of Charger – Fast (DC)
vs. Slow (AC): Majority of the revenue from the EV
Chargers in India in FY’21 are generated from DC Chargers offering advantages
in situations where quick battery replenishment is either required or
preferred. AC Chargers are ideal for charging at home or work because it needs
more time to load whereas DC fast chargers may be found on highways or other
locations where an EV might require a quick charge-up in minutes.
By Type of Charging Stations: Portable
Chargers contributed the highest revenue share of FY’21 followed by Public and
Private Charging Stations. There are no fixed categories and some charging
facilities may demonstrate hybrid characteristics. For instance, charging
infrastructure owned by EV fleet owners/operators for captive use is considered
private, but it can be opened to the public as a paid charging service when
fleets are in circulation.
By Application (4W vs. 3W vs.
2W): 2W have relatively small batteries (2–3 kWh) which
often are removable to enable home and office charging from a standard wall
socket. 3W slightly larger batteries (8–12 kWh) and come in variations with
fixed and removable batteries. 4Ws come with various sizes of batteries and
utilize different charging standards as determined by the OEM.
By Geographic Distribution: Southern
India leads the EV Charging market currently, followed by North and West. Eastern India continues to be an unexploited
potential area for EV Charging due to terrain constraints.
By Distribution Channel:
Market is dominated by the unorganized players capturing majority of the
overall market share in terms of revenue with the direct sales process.
India Electric Vehicle Charging
Equipment Market Competition
The market is highly fragmented
with presence of major private and public entities setting up charging
infrastructure in various potential locations across India. Different types of
EV Chargers are available in the Indian Market comprising of Type 1, Type 2, AC
and DC, unidirectional and bidirectional charging catering to e4W, e3W as well
as e2W. While EESL stands out in the race, owing to its bagging of all the
major contracts under FAME I scheme and being a public entity, other companies
such as ABB, Fortum, Aeidth, EESL, Ather Energy, Volttic, Charge+Zone are also
the key players in the market. To be price competitive and reduce the risk that
comes from the mere sale of energy, CPOs may need to explore partnerships and
adjacent offerings.
India Electric Vehicle Charging
Equipment Market Future Outlook and Projections
India EV Charging Equipment
Market is expected to generate substantial revenues owing to increase in market
penetration of EVs and surge in government initiatives for development of EV
charging infrastructure. With the right government policies, a local supply
chain, lower battery prices and widespread charging infrastructure, the EV
market could contribute $6.4 Bn in next 5 years. eRickshaws, eAutos, and e2Ws
are the most promising segments for electrification in India and are expected
to account for more than 4 million units by 2025. Further, limited number of EV
charging stations, lack of standardization of EV charging, rise in demand for
luxury and feature enabled vehicles, and wireless charging for EVs to have
strong impact on the market.
Key Segments Covered in India
Electric Vehicle Charging Equipment Market:-
By Type of Charger
Fast (DC Chargers)
Slow (AC Chargers)
By Type of Charging Stations
Portable Chargers
Private Charging
Public Charging
By Application
4W
3W
2W
By Geographic Distribution
South
North
West
East
By Distribution Channel
Direct Sales
Indirect Sales
By Organized and Unorganized
Sector
Organized
Unorganized
Key Target Audience:-
EV Manufacturers
EV Dealers/Distributors
Fleet Aggregators
Government Agencies
Automobile Consultants
Multiple Unit Dwellings and Transport Infrastructure
Time
Period Captured in the Report:-
Historical
Period: FY’2016-FY’2021
Forecast
Period: FY’2021-FY’2026
Companies Covered:-
ABB India
AEIDTH Technologies
Amplify Mobility
ChargeMOD
EVQpoint
LUBI EV Solutions
Mass-Tech
Okaya Power Group
P2 Power Solutions
RRT Electro Power (P)
Uznaka Solutions Pvt. Ltd.
Volttic
Magenta Power
PlugNGo
ChargeMyGaadi
Delta Electronics
Key Topics Covered in the Report:-
Overview of India EV Market
Genesis and Overview of India EV Charging Equipment Market
Charging Infrastructure for India
EV Market
India EV Charging Equipment
Market Segmentations
Overview of Charge Point
Operators in India
Competition Analysis : Market
Share of Charge Point Operators in India, FY’2021
Product Landscape of Key
Manufacturers (ChargeMOD, AEIDTH Technologies , ABB, Lubi EV Solution, Mass
Tech, P2 Power Solution , RRT Electro Power)
Government Initiatives and
Regulations in India EV Charging Equipment Market
SWOT Analysis of EV Charging
Equipment Market
Key Trends in India EV Charging
Equipment Market
Issues and Challenges in India
EV Charging Equipment Market
Impact of COVID 19 on EV sales
Outlook and Future Projections
for India EV Charging Equipment Market
Future Plans on Establishment of
Charging Stations in India
Recommendations / Success
Factors
Research Methodology
Appendix
For
More Information on the research report, refer to below link:-
India EV Charging Equipment Market
Related Reports:-
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