India EV Infrastructure Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Application (Public and Private); Charging Type (Fast and Slow); Power Output (Less than 22KW and More than 22KW)); and Region/Country
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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- 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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|2.1.||Research Process of the India EV infrastructure Market|
|2.2.||Research Methodology of the India EV infrastructure Market|
|5||IMPACT OF COVID-19 ON THE INDIA EV INFRASTRUCTURE MARKET|
|6||INDIA EV INFRASTRUCTURE MARKET REVENUE, 2020-2028F|
|8.1.2.||Combined Charging System|
|9.1.||Less than 22KW|
|11||INDIA EV INFRASTRUCTURE MARKET OPPORTUNITIES|
|12||INDIA EV INFRASTRUCTURE MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|15.1.1.||Porters Fiver Forces Analysis|
|16.1.||The Mercedes-Benz Group AG|
|16.2.||MG MOTOR UK Limited|
|16.3.||Olectra Greentech Limited|
|16.5.||Bayerische Motoren Werke AG|
|16.6.||Hyundai Motor Company|
|16.7.||Tata Motors Limited|
|16.8.||Toyota Motor Corporation|
|16.9.||Jaguar Land Rover Automotive PLC|
|16.10.||Mahindra & Mahindra Limited|
Research Methodology for the EV infrastructure Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the India EV infrastructure market were the three major steps undertaken to create and analyze the adoption of EV infrastructures in major regions India. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the India EV infrastructure market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the EV infrastructure market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the EV infrastructure market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as application, charging type, and power outage. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the EV infrastructure market. Further, we conducted factor analysis using dependent and independent variables such as application, charging type, and power outage of EV infrastructures. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the EV infrastructure market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the India EV infrastructure market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets India. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the EV infrastructure market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the India EV infrastructure market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the India EV infrastructure market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application, charging type, and power outage in the Indian EV infrastructure market.
The main objective of the India EV infrastructure Market Study
The current & future market trends of the India EV infrastructure market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the EV infrastructure market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application, charging type, and power outage.
- Define and analysis of the regulatory framework for the EV infrastructure
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the EV infrastructure market for the major region.
- Major country studied in the report include India.
- Company profiles of the EV infrastructure market and the growth strategies adopted by the market players to sustain in the fast-growing market