Electric vehicle charging systems are utilized to link the plug-in electric vehicle and electric vehicle to an electricity outlet to charge the battery of the vehicle. In addition, several automobile giants and electric component companies are functioning toward the development of improved electric vehicle charging system to meet the augment in requirement for electric vehicles.
According to the report analysis, ‘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’ states that India, the world’s 6th greatest economy by nominal GDP and the 3rd greatest by PPP, is characterized as a middle-income underdeveloped market economy. 2- and 3- Wheelers that register for close to 50% share register the Indian urban mobility modal share. EVs are slowly obtaining traction with less than 2% of vehicles positioned as EVs in India. The charging infrastructure in India is presently quite under-developed with as several as 26 EVs per charger available in the country, associated to only 8 in China and 17 in the US. There are ~300 community charging stations across India, of which 22 were fast-charging points in 202. However, India EV Charging Equipment Market attained significant momentum after the implementation of the FAME India scheme. The Department of Heavy Industry (DHI) also scheduled to incentivize 1,000+ charging stations with 6,000+ chargers, which is the foremost growth driver for the market. Shortage of Space, Infrastructure, and Manpower for Setting-Up along with High Initial Cost of Charging Equipment and Installation are the foremost challenges in India EV Charging Equipment Market.
The market is extremely fragmented with the existence of foremost private and public entities setting up charging infrastructure in several potential locations around India. Different types of EV Chargers are obtainable in the Indian Market entailing 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, due to its bagging of all the foremost 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 foremost players in the market. To be price competitive and decrease the risk that comes from the mere sale of energy, CPOs may require to explore partnerships and adjacent offerings.
India EV Charging Equipment Market is projected to create the substantial revenues owing to augment in market penetration of EVs and increment in government initiatives for advancement of EV charging infrastructure. With the accurate government policies, a local supply chain, lower battery prices and extensive charging infrastructure, the EV market could contribute $6.4 Bn during next 5 years. eRickshaws, eAutos, and e2Ws are the most auspicious segments for electrification in India and are predicted to account for more than 4 million units by 2025. Further, restricted number of EV charging stations, shortage of standardization of EV charging, increment in demand for luxury and feature allowed vehicles, and wireless charging for EVs to have strong impact on the market.
For More Information, refer to below link:-
India Ev Charging Equipment Market Research Report
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