By Type of Charging (Battery Swapping, Slow AC Charging, Fast DC Charging), By Component (Hardware, Software, Services), By Location (Cities, Highways), By End User, (Commercial, Public), By Region (N... ... ublic), By Region (North, East, West, South), By Company (ACME Group, Ather Energy, Cell Propulsion, Exicom Group, Fortum, Mahindra & Mahindra, Panasonic, Sun Mobility, TATA Power, Volttic, Others) Read more
- Automotive
- Feb 2023
- 137
- PDF, Excel, PPT
Market Definition
An electric vehicle charging infrastructure, also known as electric vehicle supply equipment (EVSE), is a device that charges plug-in electric automobiles. It is a core component of an electrified automobile system and requires adequate groundwork and dedicated electrical infrastructure at various levels of the distribution grid.
The charging station is run by a software application, energy controller, facility meter, network operations center, and energy conversion system connected to the power grid. In addition, some infrastructures have advanced features such as smart metering, cellular capability, and network connectivity.
Market Insights & Analysis: India E-Vehicles Charging Infrastructure Market (2023-28)
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. 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.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 30% |
| Region Covered | North, East, West, South |
| Key Companies Profiled | ACME Group, Ather Energy, Cell Propulsion, Exicom Group, Fortum, Mahindra & Mahindra, Panasonic, Sun Mobility, TATA Power, Volttic, Others |
| Unit Denominations | USD Million/Billion |
In addition, implementing public campaigns through policies, frameworks, and regulations to amplify the adoption of e-vehicles, along with private automobile companies volunteering to accelerate their sales, is further instigating the need for accessible charging stations. For instance:
- In March 2021, a report, “Mobilizing Electric Vehicle Financing in India,’ jointly released by NITI Aayog and Rocky Mountain Institute (RMI) India, cited that the investments in the EV transition may add up to INR 19.7 lakh crore (USD 266 billion) by 2030.
Moreover, the constant research & development in EV charging infrastructures to modify, better, and add more features to the infrastructure also adds to the market value by creating lucrative opportunities for the industry participants. For instance,
- In January 2023, Tata Power announced its plans to build 25,000 new EV charging points covering more than 450 cities.
Furthermore, improving the economic conditions of the people, changing living standards, and greater inclination toward private ownership of vehicles over public transport are the other aspects hinting toward a rise in the sales of vehicles, including EVs, and positively influencing India E-Vehicles Charging Infrastructure Market size in the future.
- Market Segmentation
- Introduction
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- India Electric Vehicle Charging Infrastructure Market Trends & Developments
- India Electric Vehicle Charging Infrastructure Market Dynamics
- Growth Drivers
- Challenges
- India Electric Vehicle Charging Infrastructure Market Hotspots & Opportunities
- India Electric Vehicle Charging Infrastructure Market Regulations & Policy
- India Electric Vehicle Charging Infrastructure Market Outlook, 2018-2028F
- Market Size & Analysis
- By Revenues (USD Million)
- Market Share & Analysis
- By Type of Charging
- Battery Swapping
- Slow AC Charging
- Fast DC Charging
- By Component
- Hardware
- Software
- Services
- By Location
- Cities
- Highways
- By End User
- Commercial
- Public
- By Region
- North
- East
- West
- South
- By Company
- Competition Characteristics
- Revenue Shares & Analysis
- By Type of Charging
- Market Size & Analysis
- India Electric Vehicle Charging Infrastructure Market Key Strategic Imperatives for Success & Growth
- Competition Outlook
- Competition Matrix
- Product Portfolio
- Target Markets
- Research & Development
- Strategic Alliances
- Strategic Initiatives
- Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
- ACME Group
- Ather Energy
- Cell Propulsion
- Exicom Group
- Fortum
- Mahindra & Mahindra
- Panasonic
- Sun Mobility
- TATA Power
- Volttic
- Others
- Competition Matrix
- Disclaimer
MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:
1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.
2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.
3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.
4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making
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