India’s EV Infrastructure Market is expected to grow at a significant rate of around 9% during the forecast period. The supporting factors of the EV Vehicle are basically considered the EV infrastructure which includes battery charging stations, charging type, connectors, and rapid charging stations publicly as well as in the private sector. Hence, the rising level of toxic and harmful gases due to transportation has triggered the necessity of adopting EV vehicles. Moreover, the government is also implementing rules and regulations to make the region green and pollution free. The widespread charging infrastructure is essential for EV adoption. For instance, on April 22, 2022, NITI Aayog released a draft battery swapping policy which will be valid until March 31, 2025. The policy will be implemented over a period of 1-2 years from the date of launch of the policy and will cover all metropolitan cities with a population greater than four million. The second phase will be implemented over 2-3 years from the date of the launch of the policy and will cover all UTs and major cities with a population greater than 5,00,000.
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Based on charging type, the market is categorized into fast and slow. Among these, the fast-charging segment holds a significant share of the market during the forecast period. This is mainly due to the increase in the production of electric vehicles and the enhancement of the adoption rate of electric vehicles. Moreover, the Indian government are moving a step forward to enhance the adoption of an electric vehicle while working on the EV infrastructure. For instance, The New Town Kolkata Development Authority (NKDA) will install and operate 12 fast electric vehicle charging stations across the township. Charging at these stations will be cheaper than at privately operated stations.
Based on the power output, the market has been classified into less than 22kw and more than 22kw. More than 22kw is to witness a higher CAGR during the forecast period. As more power output takes less time to completely charge the vehicle. The chargers with more power are expanding due to the busy schedule of the consumers, better overall portability, reduce outlet clutter, and help overcome low-capacity batteries. Hence, these are the factors driving the growth of the market.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the EV infrastructure market are The Mercedes-Benz Group AG, MG MOTOR UK Limited, Olectra Greentech Limited, AUDI AG, Bayerische Motoren Werke AG, Hyundai Motor Company, Tata Motors Limited, Toyota Motor Corporation, Jaguar Land Rover Automotive PLC and Mahindra Mahindra Limited.
“Indian EV Infrastructure Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Application (Public and Private)
- By Charging Type (Fast and Slow)
- By Power Output (Less than 22KW and More Than 22KW)
- By Company (The Mercedes-Benz Group AG, MG MOTOR UK Limited, Olectra Greentech Limited, AUDI AG, Bayerische Motoren Werke AG, Hyundai Motor Company, Tata Motors Limited, Toyota Motor Corporation, Jaguar Land Rover Automotive PLC and Mahindra Mahindra Limited.)
Key questions answered in the study:
- What are the current and future trends of the India EV infrastructure industry?
- How the industry has been evolving in terms of charging type, power output, and application?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the India EV infrastructure industry?
- What is the customer orientation, purchase behavior, and expectations from the India EV infrastructure suppliers across various region and countries?
