India EV Charging Equipment Market Outlook to FY’2026: Ken Research

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 Governmentprovides 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

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