As per MRFR analysis, the India Electric Vehicle (EV) Charging Infrastructure Market Size was estimated at 9.72 (USD Billion) in 2023.The India Electric Vehicle (EV) Charging Infrastructure Market Industry is expected to grow from 15 (USD Billion) in 2024 to 70 (USD Billion) by 2035. The India Electric Vehicle (EV) Charging Infrastructure Market CAGR (growth rate) is expected to be around 15.032% during the forecast period (2025 - 2035).
Key India Electric Vehicle (EV) Charging Infrastructure Market Trends Highlighted
The India Electric Vehicle (EV) Charging Infrastructure Market is experiencing significant growth, driven by several key market drivers. The Indian government has taken a proactive approach by promoting electric vehicles through various policies and incentives, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. This has spurred investments in charging infrastructure, making it a priority for both public and private sectors. Furthermore, the increasing awareness of environmental issues and the necessity to reduce carbon emissions are pushing consumers towards adopting EVs, consequently leading to a higher demand for charging stations across urban and rural areas.
There are many opportunities to be explored within this sector, particularly in expanding charging networks in tier 2 and tier 3 cities, where infrastructure is relatively underdeveloped. Collaborations between the government and private enterprises can facilitate the quick deployment of charging stations, ensuring accessibility to users. Additionally, integrating renewable energy sources into the charging ecosystem can enhance sustainability while reducing costs. The rise of technological innovations such as fast-charging solutions and smart charging systems represents fertile ground for businesses to capitalize on consumer demands for convenience and efficiency.
In recent times, the trend of urbanization in India is driving the need for more efficient transportation solutions, and electric vehicles stand at the forefront. As more cities adopt smart city initiatives, the correlation between EVs and sustainable urban mobility becomes evident. Moreover, the shift towards electrification in commercial fleets presents a unique avenue for growth in the charging infrastructure market. With continuous advancements and an increased focus on energy conservation, India is positioning itself as a significant player in the global electric vehicle landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
India Electric Vehicle (EV) Charging Infrastructure Market Drivers
Government Initiatives and Policy Support
In an effort to battle climate change and reduce greenhouse gas emissions, the Indian government is making significant investments in the promotion of electric cars (EVs) and the infrastructure that goes along with them. Financial incentives are intended to encourage companies and consumers to embrace EV charging infrastructure through programs like the Faster Adoption and Manufacturing of Electric Vehicles (FAME) initiative. The Ministry of Heavy Industries claims that the FAME India Scheme's latest funding of more than 10,000 crore INR (about 1.3 billion USD) has directly aided in the expansion of EV charging stations around the nation.
This substantial financial support is a major driver of the India Electric Vehicle (EV) Charging Infrastructure Market Industry, which aims to build a network of 2,600 charging stations in major cities and highways by 2025 as the government demonstrates its commitment to moving towards sustainable mobility.
Increasing Adoption of Electric Vehicles
As consumer awareness and demand for electric vehicles continue to ramp up in India, a corresponding growth in the EV charging infrastructure is becoming paramount. The Society of Indian Automobile Manufacturers reported that EV sales in India had an impressive growth rate of approximately 140 percent between FY 2020-21 and FY 2021-22, with over 2.6 lakh (260,000) EVs sold in FY 2021-22 alone. This surge in EV sales is a compelling investment in the charging infrastructure to support the vehicles.
Major automakers like Tata Motors and Mahindra Electric are significantly investing in developing not only EVs but also charging stations. As the market gravitates toward a higher number of electric vehicles on the road, the India Electric Vehicle (EV) Charging Infrastructure Market Industry will inevitably thrive.
Technological Advancements in Charging Solutions
Technological advances within the EV charging sector are predicted to enhance the performance and accessibility of charging infrastructure in India. Companies are continually innovating to provide faster and more efficient charging solutions, such as ultra-fast charging stations, which can charge an electric vehicle within 30 minutes. Major players like Tata Power and Ather Energy are investing in Research and Development to introduce such technologies.
The industry is expected to see an uptick in demand for high-speed charging solutions as an average electric vehicle requires approximately 6-8 hours for a standard charge. The introduction of convenient and rapid charging options will facilitate engagement among consumers, thereby propelling the India Electric Vehicle (EV) Charging Infrastructure Market Industry to new heights.
India Electric Vehicle (EV) Charging Infrastructure Market Segment Insights:
Electric Vehicle (EV) Charging Infrastructure Market Charger Type Insights
The Charger Type segment within the India Electric Vehicle (EV) Charging Infrastructure Market is a critical component, reflecting the diverse needs of electric vehicle users across the country. This segment is divided into two primary categories: Slow Chargers and Fast Chargers, each serving specific roles in the charging ecosystem. Slow Chargers are typically used in residential areas and workplaces, providing a convenient option for users to charge their vehicles overnight or during working hours. This type of charging infrastructure is essential in promoting the adoption of electric vehicles in India, enabling consumers to integrate EVs into their daily routines without needing quick charging solutions. On the other hand, Fast Chargers are strategically important for enhancing the usability of electric vehicles for longer journeys, addressing range anxiety among users. These chargers can significantly reduce downtime during travel, which is imperative for commercial fleets and consumers who require efficient charging solutions.
In terms of market dynamics, the growing focus on electric mobility in India, backed by government initiatives and incentivization policies, boosts the demand for both Slow and Fast Chargers. The Indian government aims to have a significant number of electric vehicles on the road by fostering eco-friendly transportation solutions, which further validates the need for developing robust charging infrastructure. Infrastructure development is also aligned with urbanization trends as cities expand and the density of electric vehicles rises. Notably, the rising integration of renewable energy sources into the charging grid presents an opportunity for innovative charging solutions, which can make slow and fast charging more sustainable and cost-effective. These trends in the India Electric Vehicle (EV) Charging Infrastructure Market underline the significance of both charger types in fostering a comprehensive and user-friendly charging network, positioning India toward a greener and more electrified transportation future.
The segmentation's inherent flexibility allows stakeholders to leverage different technologies, catering to varying user demographics and geographical needs across the country. The balance between Slow and Fast Chargers also mirrors the ongoing shift in consumer behavior, as more people become increasingly aware of environmental concerns and choose electric vehicles as a viable, sustainable option. Together, these charger types shape the landscape of the electric vehicle charging market in India, reflecting ongoing efforts to enhance accessibility and support the national commitment to lower carbon emissions through electric mobility.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Electric Vehicle (EV) Charging Infrastructure Market Connector Insights
The Connector segment of the India Electric Vehicle (EV) Charging Infrastructure Market plays a crucial role in the overall ecosystem, facilitating the charging of electric vehicles across the nation. With the increasing adoption of electric vehicles in India, various connectors are critical for ensuring compatibility and efficiency at charging stations. The CHAdeMO connector has become pivotal for fast charging, catering particularly to certain Japanese electric vehicles, thereby enhancing the charging experience. Meanwhile, the CCS (Combined Charging System) connector is gaining traction, largely due to its ability to support both AC and DC charging, which aligns well with India's infrastructure development goals.
The segment's growth is driven by rising demand for electric vehicles, coupled with government initiatives aimed at expanding sustainable transportation. As electric vehicle sales soar, the need for diverse connector types, including emerging formats categorized as 'Others,' is essential to meet different manufacturer requirements and consumer preferences. This multiplicity of options is expected to foster market expansion and promote innovation within the India Electric Vehicle (EV) Charging Infrastructure Market.
Electric Vehicle (EV) Charging Infrastructure Market Level of Charging Insights
The India Electric Vehicle (EV) Charging Infrastructure Market is significantly influenced by the Level of Charging segment, which is crucial for accommodating the growing number of electric vehicles. The segment is categorized into Level 1, Level 2, and Level 3 charging solutions, each tailored to meet specific consumer needs and charging scenarios. Level 1 charging, primarily used for home applications, offers a slower charging option but is convenient for overnight charging, appealing to everyday users. Level 2 charging is increasingly popular in public and commercial spaces, providing faster recharge times that support the rise of electric vehicle adoption among urban commuters and fleet operators.
Meanwhile, Level 3 charging, also known as fast charging, is vital for reducing downtime on long-distance travel, positioning itself as an integral part of India’s push towards a comprehensive EV ecosystem. The growing emphasis on renewable energy sources and increased government initiatives to promote electric mobility further drive the demand for diverse charging solutions in the country. This structure not only enhances accessibility but also plays a vital role in shaping consumer behavior toward embracing electric vehicles. Consequently, the Level of Charging segment holds a significant place in the India Electric Vehicle (EV) Charging Infrastructure Market, driving innovation and adoption at various levels.
Electric Vehicle (EV) Charging Infrastructure Market Connectivity Insights
The Connectivity segment within the India Electric Vehicle (EV) Charging Infrastructure Market is undergoing significant evolution, reflecting the broader trends in the electric mobility landscape. As of 2024, this segment includes both Non-connected and Connected charging stations, which play crucial roles in shaping the user experience for EV owners. Non-connected charging stations, while traditionally appealing due to their simplicity and lower installation costs, are being complemented by the rise of Connected charging stations, which offer enhanced features such as real-time monitoring, remote diagnostics, and advanced payment systems.
The growing emphasis on smart cities and digital infrastructure in India is driving the demand for Connected charging solutions, as they facilitate better energy management and carbon footprint reduction. Furthermore, government initiatives aimed at boosting EV adoption and infrastructure expansion are encouraging investments in both charging types, highlighting the necessity of a robust charging network to support the anticipated surge in electric vehicles on Indian roads. The challenges in this segment include the need for standardization and interoperability among charging stations to ensure seamless user experiences, thus pointing towards a vast opportunity for growth and innovation within the Connectivity sphere of the India Electric Vehicle (EV) Charging Infrastructure Market.
Electric Vehicle (EV) Charging Infrastructure Market Application Insights
The Application segment of the India Electric Vehicle (EV) Charging Infrastructure Market demonstrates significant potential as the country shifts towards sustainable transportation solutions. With a growing emphasis on reducing carbon emissions and reliance on fossil fuels, both Commercial and Residential applications are becoming crucial in the development of charging infrastructure. The Commercial sector is pivotal, playing a major role in supporting logistics and transportation companies in adopting electric vehicles, which is essential for achieving India's climate goals.
Meanwhile, the Residential application caters to the increasing number of electric vehicle owners in urban and semi-urban areas. As the Indian government promotes incentives for electric vehicle adoption, the infrastructure will likely see substantial investments to enhance accessibility and convenience. Additionally, the rise in renewable energy sources in India supports the integration of charging stations into homes and businesses, creating a robust ecosystem for electric mobility. This landscape not only meets the immediate needs of consumers but also fuels future market growth, making the Application segment a fundamental pillar of the India Electric Vehicle (EV) Charging Infrastructure Market landscape.
India Electric Vehicle (EV) Charging Infrastructure Market Key Players and Competitive Insights:
The India Electric Vehicle (EV) Charging Infrastructure Market is rapidly evolving, driven by increasing electric vehicle adoption, government initiatives to promote clean energy, and rising environmental awareness among consumers. The market landscape is characterized by a multitude of players, each vying to establish a robust charging network throughout the country. As more automakers introduce electric models and consumer demand grows, the competitiveness of the EV charging infrastructure market intensifies. Stakeholders are focusing on enhancing charging speed, accessibility, and reliability to encourage EV adoption. This dynamic sector is witnessing collaborations, technological advancements, and strategic investments to create a comprehensive and efficient infrastructure, which is crucial for supporting the transition to electric mobility in India.
In the realm of India's Electric Vehicle Charging Infrastructure Market, NTPC has emerged as a prominent player, leveraging its extensive experience in the energy sector. As one of India’s largest power utility companies, NTPC has begun to diversify its operations to include charging stations for electric vehicles, recognizing the growing demand for sustainable transport solutions. NTPC's strengths lie in its established reputation, strong financial capabilities, and vast network of existing power plants across the nation. This enables the company to provide a reliable electricity supply for EV charging stations while ensuring a seamless integration of renewable energy sources. The presence of NTPC in the EV charging segment is expected to contribute significantly to the development of charging infrastructure, addressing both urban and rural mobility challenges.
Exide Industries has established a significant footprint within the India Electric Vehicle Charging Infrastructure Market through its expertise in energy storage solutions. The company is well-regarded for its advanced battery technologies, which are crucial for efficient energy management in EV charging. Exide Industries is actively involved in offering innovative battery solutions targeted at electric vehicles, thereby enhancing the overall charging ecosystem. The company’s strengths include a strong distribution network, a long-standing brand reputation, and ongoing research and development activities aimed at improving battery performance and durability. Exide Industries has been engaging in strategic partnerships and collaborations to bolster its market position, enhancing its offerings in the charging infrastructure segment. The company's commitment to technology advancements and sustainability further solidifies its role in supporting India's transition to cleaner transportation solutions.
Key Companies in the India Electric Vehicle (EV) Charging Infrastructure Market Include:
India Electric Vehicle (EV) Charging Infrastructure Market Industry Developments
The India Electric Vehicle (EV) Charging Infrastructure Market has been seeing a surge in recent developments. In September 2023, Tata Power launched its first EV charging station in partnership with a major oil and gas company, enhancing its presence in the market. Additionally, NTPC is investing significantly in expanding its EV charging network across India, which is expected to boost the capacity to meet rising demand. In August 2023, Reliance Industries announced plans to collaborate with ChargePoint to establish an extensive charging network, showcasing a commitment to grow its footprint in the EV sector.
Furthermore, Exide Industries has advanced its Research and Development capabilities to cater to the growing battery needs linked to EV infrastructure. Notably, the market is benefiting from government policies promoting electric mobility, with initiatives such as Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). In the last two years, significant happenings include EESL's awarding of contracts to various companies in 2021 for setting up charging stations and ABB's major contracts for electric bus charging solutions. As of October 2023, the market is experiencing growth in valuation, with increased investments leading to enhanced infrastructure, paving the way for more electric vehicles on Indian roads.
Electric Vehicle (Ev) Charging Infrastructure Market Segmentation Insights
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 9.72 (USD Billion) |
| MARKET SIZE 2024 | 15.0 (USD Billion) |
| MARKET SIZE 2035 | 70.0 (USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 15.032% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | NTPC, Exide Industries, Tata Power, ABB, UltraTech Cement, Amara Raja Batteries, BSES Rajdhani Power, Airtel, Mahindra Electric, Fortum, EESL, ChargePoint, Reliance Industries, Siemens, Greenko |
| SEGMENTS COVERED | Charger Type, Connector, Level of Charging, Connectivity, Application |
| KEY MARKET OPPORTUNITIES | Government incentives for charging stations, Expansion in urban and rural areas, Integration with renewable energy sources, Partnerships with real estate developers, Growth in EV adoption rates |
| KEY MARKET DYNAMICS | rapid EV adoption, government incentives, subsidies for infrastructure, public-private partnerships, technological advancements in charging solutions |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The market is expected to be valued at 15.0 USD Billion in 2024.
By 2035, the market is anticipated to reach a value of 70.0 USD Billion.
The market is expected to grow at a CAGR of 15.032% during the period from 2025 to 2035.
The slow charger segment is projected to be valued at 5.0 USD Billion in 2024.
The fast charger segment is expected to reach 45.0 USD Billion by 2035.
Key players in the market include NTPC, Tata Power, ABB, and Mahindra Electric among others.
The market offers opportunities due to increasing EV adoption and supportive government policies.
Challenges include infrastructure development costs and the need for technological advancements.
The slow charger segment is expected to grow significantly to 25.0 USD Billion by 2035.
The market's growth varies with fast chargers expected to show a higher growth rate compared to slow chargers.
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