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.
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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