Growing numbers of electric vehicle owners worldwide require vehicle charging systems, so manufacturers are concentrating on maximizing charging stations and charging points to meet these vehicles' operational requirements. Over the projection period, significant advancements in both indoor and outdoor charging are expected. The promotion of electric vehicles by governments around the world is also encouraging the market expansion of EV charging stations.
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Data Bridge Market Research analyses that the India EV Charging Stations are expected to reach the value of CAGR of 42.8% during the forecast period of 2022 to 2029. Many governments and municipalities worldwide implemented supportive policies and incentives to promote the adoption of electric vehicles and the development of charging infrastructure. These could include tax credits, subsidies, reduced registration fees, and grants for charging station installations.
Key Findings of the Study
Rising consumer awareness is expected to drive the market's growth rate
The increasing awareness among consumers about the advantages of electric vehicles, including lower operating costs, reduced emissions, and quieter operation, has led to a surge in demand for both EVs and charging infrastructure. As people recognize the environmental and economic benefits, they are more inclined to embrace electric mobility, driving the growth of the electric vehicle market and the need for accessible and convenient charging stations to support this transition.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Segments Covered
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Charging Station (AC Charging/ Normal Charging Station, DC Charging/ Super Charging Station, and Inductive Charging Station), Vehicle Type (Battery Electric Vehicle (BEV) and Plug-In Hybrid Electric Vehicles (PHEV)), Installation Type (Individual Houses, Commercial, Apartments, and Others), Technology (Level 1, Level 2 and Level 3), Charger Type (Fixed Charger, Portable Charger)
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Market Players Covered
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Tata Power (India), BRIGHTBLU (United Kingdom), Ensto (Finland), Exicom Tele-Systems (India), Delta Electronics, Inc. (Taiwan), Mass-Tech Controls Pvt. Ltd (India), Fortum (Finland), ABB (Switzerland), P2 Power Solutions Pvt. Ltd (India) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The India EV charging stations market is segmented on the basis of charging station, vehicle type, installation type, technology, and charger type
- On the basis of charging station, the India EV charging stations market is segmented into AC charging/normal charging station, DC charging/super charging station, and inductive charging station.
- On the basis of vehicle type, the India EV charging stations market is segmented into battery electric vehicle (BEV) and plug-in hybrid electric vehicles (PHEV).
- On the basis of installation type, the India EV charging stations market is segmented into individual houses, commercial, apartments, and others.
- On the basis of technology, the India EV charging stations market is segmented into level 1, level 2, and level 3.
- On the basis of charger type, the India EV charging stations market is segmented into portable charger and fixed charger.
Major Players
Data Bridge Market Research recognizes the following companies as the major India EV charging stations market players in India EV charging stations market are BRIGHTBLU (U.K.), Ensto (Finland), Exicom Tele-Systems (India), Delta Electronics, Inc. (Taiwan), Mass-Tech Controls Pvt. Ltd (India)
Market Developments
- In 2023, ABB E-mobility revealed its innovative Terra Home charging solution at CES 2023, the world's foremost technology event held in Las Vegas. It is set to be available for purchase around mid-2023.
- In 2022, ABB formed a strategic alliance with Tallarna Ltd. to expand its user-friendly energy management technologies offerings. The solution leverages AI-powered data analytics to make it easier to undertake decarbonization projects for large real estate portfolios and energy infrastructure.
- In 2022, Chargepoint launched the CP6000 charger. This comprehensive charging solution caters to the needs of European businesses and fleets, providing them with the tools they need to transition to electric mobility.
- In 2022, Eaton expanded its contract with the General Services Administration (GSA) to cover electric vehicle supply equipment (EVSE) and related services. This move is crucial in achieving the US goal of reaching net-zero emissions by 2050 and advancing the development of EV charging infrastructure.
- In 2022, Tata Power entered into a strategic partnership with Hyundai to build a robust EV charging network and accelerate the adoption of EVs across India
- The mobility start-up in India, planned to establish 500 EV charging stations in 11 cities in India. The company has partnered with Midgard Electric as the EV charging partner to install Bharat AC-001 and DC-001 EV chargers for the Automobile’s outlets.
- Around 5000 EV charging stations have been installed by Exicom, a power solutions and telecom equipment company, in 200 Indian cities. The business has set up about 3600 AC and 1400 DC fast chargers in bus stops, public charging stations, homes, and residential neighborhoods.
For more detailed information about the India EV Charging Stations market report, click here – https://www.databridgemarketresearch.com/pt/reports/india-ev-charging-stations-market
