India EV Charging Equipment Market Outlook Report 2022-2026: Increasing Adoption of Electric Vehicles Along With Implementation of Fame II Policy by Government

An extensive study of the potential of the Electric Vehicle Charging Equipment business in India is provided by India EV Charging Equipment Market Outlook to FY’2026.

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 are just a few of the topics covered in the report.

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 per charger 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 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.

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.

Time Period Captured in the Report

• Historical Period: FY’2016-FY’2021
• Forecast Period: FY’2021-FY’2026

Key Topics Covered:

1. Executive Summary

2. Indian Electric Vehicle Market Growth Opportunities

• India Country Profile: Demographics and Urban Mobility Share
• Overview of Electric Vehicle Market in India
• Electric Vehicle Market Adoption Trends in India
• India Electric Vehicle Market: Market Size: 2019-2025
• Factors Driving Electrification in India
• Emission Norms – India, 2021-2025

3. Overview of India EV Charging Equipment Market

• EV Charging Equipment Market Ecosystem: Supply Demand & Side
• Current EV Charging Stations in India
• Available EVSE Types with Connector Types in India
• Public and Private Charging Infrastructure Standards and Implementation
• Incentives for Charging Stations
• India EV Charging Equipment Market Size, FY’16-FY’21
• Current Challenges in India EV Charging Equipment Market

4. India EV Charging Equipment Market Segmentation

• By Type of Charger – Fast (DC) vs. Slow (AC), FY’2021
• By Type of Charging Stations, FY’2021
• The Spectrum of End-Customer EV Charging Needs
• By Application (4W vs. 3W vs. 2W), FY’2021
• By Geographic Distribution, FY’2021
• By Distribution Channel, FY’2021
• By Organized and Unorganized Sector, FY’2021

5. Overview of Charge Point Operators in India

• Charge Point Operators: Role and Responsibilities
• CPO’s Focus in Public Charging
• Competition Analysis: Market Share of Charge Point Operators in India, FY’2021
• Key CPOs based on Count of Charge Points

6. Product Landscape of EV Chargers in India

• Cross Comparison of Major Players on the basis of EV Charger Type (Type 1 vs. Type 2, AC vs. DC, unidirectional vs. bidirectional charging, 4W vs. 3W vs. 2W usage)
• Product Landscape of Key Manufacturers (ChargeMOD, AEIDTH Technologies, ABB, Lubi EV Solution, Mass Tech, P2 Power Solution, RRT Electro Power)

7. Government Initiatives and Regulations in India EV Charging Equipment Market

• Roles and Responsibilities of Government Entities
• EV Charging Infrastructure under FAME II
• Incentives for Charging Stations
• EV Charging Incentives under State EV Policies

8. India EV Charging Equipment Market Industry Analysis

• SWOT Analysis of EV Charging Equipment Market
• Key Trends in India EV Charging Equipment Market
• Issues and Challenges in India EV Charging Equipment Market
• Battery Swapping
• Battery Swapping Stations: Sun Mobility
• Impact of COVID 19 in India EV Market

9. Outlook and Future Projections for India EV Charging Equipment Market

• Forecasts for EV Adoption in India, 2025F
• India EV Charging Equipment Market Size, FY’2022-FY’2026
• By Type of Charger – Fast (DC) vs. Slow (AC), FY’2026
• By Application (4W vs. 3W vs. 2W), FY’2026
• By Geographic Distribution, FY’2026
• Plans on Establishment of Charging Stations in India

10. Market Opportunity and Analyst Recommendations

• Potential for EV Charger Manufacturers in India
• Key Market Opportunities
• Potential Product Options and Emerging Business Solutions
• Analytical framework for EV Charging Infrastructure Policy

For more information about this report visit https://www.researchandmarkets.com/r/ds4rac