India Electric Vehicle Charging Station Market Assessment, By Type, By Charger Type, By Charging Ownership Type, By Connector Type, By End-user, By Region, Opportunities and Forecast, FY2018-FY2032F

India electric vehicle charging station market is projected to witness a CAGR of 25.25% during the forecast period FY2025-FY2032, growing from USD 701.29 million in FY2024 to USD 4247.36 million in FY2032. The market has experienced significant growth in recent years and is expected to maintain an expansion in the coming years owing to convenience, affordability and flexibility alternatives to traditional transportation methods.

The market for India's electric vehicle charging stations is expanding at a tremendous rate due to factors such as government policies, consumer shifts towards electric vehicles (EVs), and the increasing number of charging points installed in societies for private cars. Currently, the government has undertaken several policies and schemes that provide subsidies, tax incentives, and financial assistance for the establishment of charging infrastructure for electric vehicles. Also, consumers adaptation towards EV's are improving because they are environmentally friendly, cost-effective, and offer better performance, additionally new EVs offer better energy density due to improvements in battery systems. New Housing societies and private establishments incorporate charging terminals for electric vehicles.

Other drivers include the growing range of models for EVs, innovations in terms of rapid charging networks, and the partnerships between federal departments, private entities, and global affiliates. For Instance, in September 2024, Bharat Petroleum Corporation Limited (BPCL) strengthened its partnership with Bangalore-based eMobility service provider, IONAGE Technologies Pvt. Ltd., to enhance India's electric vehicle (EV) charging infrastructure. This collaboration aims to improve the accessibility and convenience of EV charging, supporting the nation's transition towards sustainable mobility. Ionage's platform aggregates charging stations from multiple Charge Point Operators (CPOs), providing EV owners across India access to a wide network of chargers via a single interface. This integration simplifies the process for EV owners, making it easier to locate and utilise charging stations. Other factors fuelling this market include developing wireless charging platforms and incorporating EV charging systems with IoT for real-time information on the status of charging stations. These extensive general undertakings are making way for a scalable EV charging network in India, thus making way for more sustainable and eco-friendly transportation.

Growing Initiative of Government to Increase Charging Stations Across India

The government of India has initiated several schemes to boost the infrastructure for industry-required electric vehicle charging stations across the country and further boost the market growth of EV charging stations. Among these is the FAME India Scheme (FAME II), which provides subsidies for charging stations. The government has also launched the PM E-Drive Scheme to support electric mobility and to build up a proper charging infrastructure. Also, to prevent haphazard construction across the country, the Ministry of Power, has released new guidelines and standards for charging infrastructure. The Bureau of Energy Efficiency (BEE) has prepared action plans for 9 major cities, aiming to install 46,397 Public Charging Stations by 2030. These efforts are supported by partnerships with private companies for the development of the charging infrastructure.

For instance, in September 2024, Trinity Cleantech Pvt Ltd (Thunder Plus) in collaboration with the Department of Post, Government of India, unveiled an EV Charging Station within a public post office in Hyderabad. The project is the first of its kind in India and aims to make EV charging more accessible, with plans to equip additional post offices and public campuses across the country with similar solutions.

Increasing Adoption of Electric Public Transport Propel India Electric Vehicle Charging Station Market Growth

There has been significant improvement in electric public transport which is putting a higher demand on public charging stations. Large-scale electric vehicle charging stations are required as electric automobiles and other modes of public transportation become more prevalent in cities and transportation businesses. Reasons for this transformation include lower operational costs for electric vehicles, less maintenance required, and the sustainability aspect of using electric public transportation. Moreover, electric buses are affordable to operate than diesel buses because they use electricity for fuel and has low maintenance cost. This factor is also helping to promote more public transport operators to adopt electric fleet systems. For instance, in December 2024, Tata Motors Limited, launched a fleet of electric buses for employee transportation at its Pantnagar plant in Uttarakhand. The electric buses are being powered by a 16 megawatt (MW) solar energy plant which makes the entire operation environmentally friendly..

Meanwhile, public charging infrastructure is also being established to cater for the increasing number of electric public transport vehicles that can be parked at depots, bus terminals or even on major thoroughfares in urban centres. These stations are fitted with fast-charging infrastructure to reduce contact time for public transport, hence, allowing the transport vehicles to be operate efficiently. Furthermore, the provision of charging sites not only serves the needs of public electric vehicles, but also adds value to private car owners by establishing an efficient network across the country.

CHAdeMO Connector Type Dominates India's Electric Vehicle Charging Station Market

CHAdeMo connector type is dominating the electric vehicle charging station market in India. This is largely due to the rising use of CHAdeMO-compatible EVs, the requirement of fast charging points from regional movement, and the relationship between Japanese car makers and Indian counterparts. CHAdeMO (Charge de Move) is a form of DC rapid charging standard that is popular among several Japanese EV manufacturers, and its acceptance is growing in India, with increasing number of models compatible with this standard entering the market. Besides, highway charging stations provide alternative charging options and the provision of CHAdeMO chargers at strategic points as part of highway charging corridors are also increasing the practicality of EVs. These factors, in anticipation, account for the expansion of CHAdeMO charging stations to boost the utilization of electric vehicles in India.

For instance, in August 2023, The CHAdeMO Association and Bharat Charge Alliance (BCA), partnered to implement global two- and three-wheeler charging standards in India. They signed a Memorandum of Understanding, allowing CHAdeMO to disclose its charging protocol to BCA, and BCA to promote the protocol in the Indian market. The alliance aims to develop DC charging systems using international and Indian standards, as battery swapping in electric two-wheelers gains popularity in India and ASEAN markets.

Southern Region to Dominate India Electric Vehicle Charging Station Market Share

Southern region of India is dominating the electric vehicle charging station market in India due to the presence of progressive states including Karnataka, Tamil Nadu, and Kerala, among others, that are promoting the use of EVs and setting up charging stations. Public charging infrastructure is decentralized in Bengaluru, Karnataka, which tops the regional distribution of charging stations with Bengaluru Urban contributing a large share of the charging points. For instance, in August 2024, according to data published by Bureau of Energy Efficiency (BEE), Karnataka has the highest number of public electric vehicle (EV) charging stations in India, with 5,765 stations, mainly in Bengaluru Urban district. The state is ahead of Maharashtra, Uttar Pradesh, and Delhi, having 3,728, 1,989 and 1,941 stations, respectively.

The southern region's strong emphasis on green transportation, the presence of significant companies in the automotive and IT industries, and the density of EV charging stations all help to drive industry growth. Furthermore, the population density in the Southern region, as well as increasing customer awareness of EVs' growth potential, contribute to the continued development of charging infrastructure.

Future Market Scenario (FY2025 - FY2032F)

As the population grows and more individuals shift to urban areas, there will be more concern about environmentally friendly last-mile transport solutions.

Rising awareness regarding vehicular pollution and the potential demand for eco-smart transportation is expected to further strengthen the growth of electric vehicle charging stations.

Technological advancements such as battery research, motor refinement, and vehicle design and performance improvements are expected to enhance interest in EVs, driving up demand for electric vehicle charging stations.

Increasing environmental awareness and improving road infrastructure across urban and rural areas is expected to boost India electric vehicle charging station market.

Key Players Landscape and Outlook

There are several notable strategies being adopted by the key players in the India EV charging station market in a bid to cater for the growing EV market and improve the network of charging stations. Charging networks are gradually developing and deploying fast and ultra-fast charging technologies to shorten the amount of time required to charge electric vehicles. These companies are also engaging in some value-added partnerships with other industry stakeholders such as automakers and technological companies in a bid to enhance the usability and utility of electric vehicles by their users. In addition, they are working jointly with the governing bodies, and other relevant agencies in compliance with the policies functional at the national and state level for promoting electric mobility. Some are also focusing on investing in smart charging solutions and injecting more renewable energy to the charging systems. Through these initiatives, the stakeholders are contributing significantly to the evolution of the EV charging station market in India.

For instance, in August 2024, Tata Motors Limited, announced collaboration with Delta Electronics India Pvt. Ltd. and Thunderplus Solutions Pvt Ltd to establish 250 new fast charging stations across 50 cities across India. These stations will significantly increase the existing network of 540 commercial vehicle charging points. The collaboration aims to help e-commerce companies and courier service providers reduce their carbon footprint by adopting commercial EVs for last-mile deliveries. Tata Motors would recommend the best sites and nearby dealerships for installing these fast-charging stations. Delta Electronics will supply the hardware, while Thunderplus Solutions will install and operate the stations.