Global India E-Vehicles Charging Infrastructure Poised for 30% CAGR Growth Through 2028

According to recent findings, the India E-Vehicles Charging Infrastructure Market is projected to grow at a CAGR of more than 30% during the forecast period, i.e., 2023-28.

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

India E-Vehicles Charging Infrastructure Overview:

The market is driven by the rapid adoption of EVs propagated by increasing concerns over environmental degradation, excessive use of fossil fuels, and mounting emissions, leading to several health issues while challenging sustainability.

Accordingly, there is a consumption shift from internal combustion engine vehicles to electric vehicles, thus bolstering its advancement to cater to the proliferating needs. Consequently, there is a growing demand for electric vehicle charging infrastructure in industrial residential applications.

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India E-Vehicles Charging Infrastructure Outlook and Future Trends :

Government Policies Supporting the Shift to Electrical Vehicles - The EV Charging infrastructure market propagation in India is attributed to the government policies and support towards promoting electric vehicles over conventional vehicles. The government has implemented several policies and programs to achieve a high rate of decarbonization in the transport sector with e-mobility initiatives. For instance, in December 2021, the central government decided to allocate around INR 1300 crores for the implementation of the Phase-II of FAME (Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India) scheme, which aims at installing 2877 EV charging stations in 68 cities and 1576 stations across highways and expressways. Additionally, after issuing the guidelines and standards to be followed for EV charging infrastructure, the government has also called for the public sector companies to install new EV charging units in the country, further accelerating industrial expansion.

In February 2022, the Ministry of Power announced that the PSUs, IOCL, BPCL, and HPCL would install 22,000 EV charging stations in developed cities and across national highways in the country.

Global India E-Vehicles Charging Infrastructure Segmentation Analysis:

By Type of Charging

Battery Swapping
Slow AC Charging
Fast DC Charging

According to reports, Among the above, Slow AC chargers are predicted to gain the largest share during the forecast period due to their easier availability in the country.

By Component

Hardware
Software
Services

By Location

Cities
Highways

By End User

Commercial
Public

By Region

North
East
West

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Some of the Market players in the Global India E-Vehicles Charging Infrastructure are:

ACME Group
Ather Energy
Cell Propulsion
Exicom Group
Fortum
Mahindra Mahindra
Panasonic
Sun Mobility
TATA Power
Volttic
Others.

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