India EV Infrastructure Market: Current Analysis and Forecast (2022-2028)

India's EV Infrastructure Market is expected to grow at a significant rate of around 9% during the forecast period. A major factor supporting EV vehicles is the EV infrastructure. This includes public and private sector battery charging stations, charging types, rapid charging stations, connections, and fast charging stations. Therefore, the increasing proportion of toxic and noxious gases from transport necessitates the adoption of electric vehicles. In addition, the government has also implemented rules and regulations to keep the area green and eco-friendly. The spread of charging infrastructure is essential for the spread of EVs. In addition, market key players are working to enhance the network of the EV infrastructure. For instance, in 2022, Hyundai Motor India Limited (HMIL) and Tata Power announced a partnership to expand the scope of electric vehicles (EV) charging infrastructure across the country and will set up DC 60 kW fast chargers across 34 of its EV dealer locations across 29 cities in India.

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. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst application, public category to witness robust CAGR during the forecast period"

Based on application, the market is segmented into public and private. The public category is to witness a higher CAGR during the forecast period. This is due to the widespread use of public quick chargers to promote EV adoption. In addition, various OEMs and EV grid operators are installing public fast chargers in locations such as retail stores, hospitality facilities, parking lots, government offices, roadways, and gas stations. However, most EV infrastructure is open to the public for the benefit of the customer.

"Amongst Charging type, the fast to hold a significant share in the market in 2020"

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.

"Amongst power output, the More than 22KW to hold a significant share in the market in 2020"

Based on a power outage, the market is categorized into less than 22KW and more than 22KW. Among these, the fast-charging segment holds a significant share of the market 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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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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