India Electric Vehicle Charging Infrastructure Market Size, Share FY2027

FY2017–FY2027 INDIA ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET FORECAST & OPPORTUNITIES

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Scope of Report Product of Interest (POI): Electric Vehicle Charging Infrastructure

Electric vehicle charging infrastructure is a machine which supplies electric energy to electricity operated automobiles. Evolution of smart grid technologies and the concept of virtual power plants is forecast to further boost the India market for electric vehicles and its related electric charging infrastructure through FY2027.

Market Segmentation ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET

TYPE OF CHARGING

CHARGER TYPE

•

Direct Charging

•

Fast Charger

•

Battery Swapping

•

Slow Charger

LOCATION

MODE OF CHARGING

•

Highways

•

Plug-in Charging System

•

Cities

•

Wireless Charging System

•

Others

APPLICATION

Year Range Review Period

FY2017 – FY2020 Base Year

FY2021 REGION

Estimated Year

•

Commercial

•

North

•

Residential

•

South

•

East

Forecast Period

•

West

FY2023 – FY2027

FY2022

2

Table of Contents S. No.

Contents

1.

Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)

2.

Research Methodology (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)

3.

Impact of COVID-19 on India Electric Vehicle Charging Infrastructure Market

4.

Executive Summary (This chapter covers summary of the complete study.)

5.

Voice of Customer (Brand Awareness, Challenges Faced Post Purchase, Factors Influencing Purchase Decision)

6.

India Electric Vehicle Charging Infrastructure Business Scenario 6.1.

Global Electric Vehicle vs India Electric Vehicle Charging Infrastructure Business Scenario

6.2.

India I.C.E. Vehicle Fueling Infrastructure vs India Electric Vehicle Charging Infrastructure Scenario

7.

Government Initiative

8.

India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)

8.1.

Market Size & Forecast 8.1.1.

8.2.

Page No.

By Value & Volume

Market Share & Forecast (The overall product of interest bifurcated/split among various segments.)

8.2.1.

By Type of Charging (Direct Charging and Battery Swapping)

3

Table of Contents S. No.

Contents

8.3.

9.

8.2.2.

By Location (Highways, Cities and Others)

8.2.3.

By Application (Commercial, Residential)

8.2.4.

By Charger Type (Fast Charger, Slow Charger)

8.2.5.

By Mode of Charging (Plug-in charging system, Wireless charging system)

8.2.6.

By Company (FY2021)

8.2.7.

By Region (North, East, West, South)

Page No.

Product Market Map (By Type of Charging, By Location, By Region)

North India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 9.1.

Market Size & Forecast 9.1.1.

9.2.

9.3.

By Value & Volume

Market Share & Forecast (The overall product of interest bifurcated/split among various segments.)

9.2.1.

By Type of Charging (Direct Charging and Battery Swapping)

9.2.2.

By Location (Highways, Cities and Others)

9.2.3.

By Application (Commercial, Residential)

9.2.4.

By Charger Type (Fast Charger, Slow Charger)

9.2.5.

By Mode of Charging (Plug-in charging system, Wireless charging system)

Product Market Map (By Type of Charging)

4

Table of Contents S. No. 10.

Contents East India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 10.1.

Market Size & Forecast 10.1.1.

10.2.

10.3.

11.

Page No.

By Value & Volume

Market Share & Forecast (The overall product of interest bifurcated/split among various segments.)

10.2.1.

By Type of Charging (Direct Charging and Battery Swapping)

10.2.2.

By Location (Highways, Cities and Others)

10.2.3.

By Application (Commercial, Residential)

10.2.4.

By Charger Type (Fast Charger, Slow Charger)

10.2.5.

By Mode of Charging (Plug-in charging system, Wireless charging system)

Product Market Map (By Type of Charging)

West India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 11.1.

Market Size & Forecast 11.1.1.

11.2.

By Value & Volume

Market Share & Forecast (The overall product of interest bifurcated/split among various segments.)

11.2.1.

By Type of Charging (Direct Charging and Battery Swapping)

11.2.2.

By Location (Highways, Cities and Others)

11.2.3.

By Application (Commercial, Residential)

11.2.4.

By Charger Type (Fast Charger, Slow Charger)

11.2.5.

By Mode of Charging (Plug-in charging system, Wireless charging system)

5

Table of Contents S. No.

Contents 11.3.

12.

Product Market Map (By Type of Charging)

South India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 12.1.

Market Size & Forecast 12.1.1.

12.2.

12.3.

13.

By Value & Volume

Market Share & Forecast (The overall product of interest bifurcated/split among various segments.)

12.2.1.

By Type of Charging (Direct Charging and Battery Swapping)

12.2.2.

By Location (Highways, Cities and Others)

12.2.3.

By Application (Commercial, Residential)

12.2.4.

By Charger Type (Fast Charger, Slow Charger)

12.2.5.

By Mode of Charging (Plug-in charging system, Wireless charging system)

Product Market Map (By Type of Charging)

Market Dynamics (This chapter assesses the major demand drivers and restraints.)

13.1.

Drivers

13.2.

Challenges

14.

Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)

15.

Policy & Regulatory Landscape of India Electric Vehicle Charging Infrastructure

16.

India Economic Profile

17.

Page No.

SWOT Analysis

6

Table of Contents S. No. 18.

Contents

Page No.

Competitive Landscape 18.1.

Competition Outlook

18.2.

Company Profiles (Top 10 Leading Companies) 18.2.1.

Company Details

18.2.2.

Products & Services

18.2.3.

Financials (As Reported)

18.2.4.

Key Market Focus & Geographical Presence

18.2.5.

Recent Developments

18.2.6.

Key Management Personnel

19.

Strategic Recommendations

20.

About Us & Disclaimer

7

RESEARCH METHODOLOGY

Research Methodology

Market Profiling In-depth secondary research was conducted to determine top players in the India electric vehicle charging infrastructure market, overall market size and segmental market size.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

Developing List of Respondents

List of industry players and industry specialists was developed.

Data Collection

Data Validation Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

TechSci conducted interviews with industry experts and industry players for data collection and verification.

Primary Research

Data Collection

Data Filter & Analysis

Research & Intelligence

Actionable Insights

Business Solution

Desk Research

✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews

Primary Research

Secondary Research

✓ LinkedIn ✓ TechSci Internal Database

✓ Company Websites ✓ Company Annual Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc.

✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Conclusion

Data Analysis

The data was scrutinized using MSExcel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India electric vehicle charging infrastructure market.

Company Analysis ✓ Market Participants ✓ Key Strengths

Paid Sources ✓ Factiva ✓ Hoovers

9

Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India electric vehicle charging infrastructure market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rising concerns for safer environment, increasing government support for electric commercial vehicles and growth in number of electric vehicles, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in

India electric vehicle charging infrastructure market.

Methodology Followed for Calculation of Market Size: •

Market Size By Value : Market size, in terms of value, for the year FY2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as electric vehicle charging infrastructure companies, end users, industry experts, and other industry participants.

•

The team interviewed more than 40 – 50 companies, 180 – 200 end users, and 15 – 20 industry experts and other value chain stakeholders in the India Electric Vehicle Charging Infrastructure market to obtain the overall market size from FY2017 to FY2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2017-FY2021.

•

Respondents were asked about the current and future market growth rates, market shares by type of charging, by location, by application, by charger type, by mode of charging, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares

10

Research Methodology Methodology Followed for Calculation of Market Shares: Market by type of charging, by location, by application, by charger type, by mode of charging, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of electric vehicle charging infrastructure market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting:

•

TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.

•

Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India electric vehicle charging infrastructure market, TechSci Research used various forecast techniques such as: ✓

Moving Average

✓

Time Series Analysis

✓

Regression Analysis

✓

Econometric and Judgmental Analysis

11

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data.

Partial List of Companies Interviewed

Key Secondary Sources

▪ Sun Mobility

▪ World Bank

▪ Mahindra & Mahindra Limited

▪ TechSci Research Proprietary Database & Knowledge

▪ Tata Motors Limited

Repository

▪ Ather Energy Pvt. Ltd.

▪ Company Annual Reports

▪ Cellprop Private Limited

▪ Industry Magazines

▪ Exicom Tele-Systems Limited

▪ Industry Reports

▪ Panasonic Corporation

▪ Statista

▪ Semco India Pvt. Ltd.

▪ News Dailies

▪ Fortum Oyj

▪ Credible Paid Databases

▪ ABB Group

12

Industry Brief According to TechSci Research report, “India Electric Vehicle Charging Infrastructure Market By Type of Charging (Direct Charging and Battery Swapping), By Location (Highways, Cities and Others), By Application (Commercial, Residential), By Charger Type (Fast Charger, Slow Charger), By Mode of Charging (Plug-in charging system, Wireless charging system), By Company and By Geography, Forecast & Opportunities, FY2027”, India electric vehicle charging infrastructure market is expected to witness robust growth in the next five years owing to stringent government policies to support alternative fuel and minimize the burden on conventional fuels is the contributing factor for the electric vehicle charging infrastructure growth during the forecast period. Under the FAME II scheme government has decided to provide subsidy for 10lakh two wheelers, 5 lakh three-wheelers, around 55,000 four-wheelers, and 7,000 buses running on electricity which is anticipated to create lucrative opportunities for the electric vehicle charging infrastructure market growth. Recent developments and technological innovations to upgrade the existing electric vehicle charging infrastructure for instance recycling, battery reuse and leasing to bring down the high up-front cost is expected to act as contributing factor in the India electric vehicle charging infrastructure market growth. Also, setting up charging station separately for electric vehicles does not require possession of license which is expected to foster the demand for the electric vehicle charging infrastructure.

India electric vehicle charging infrastructure market can be segregated based on type of charging, location, application, charger type, mode of charging, region, and company. Based on charger type electric vehicle charging infrastructure is fragmented into fast charging and slow charger sector. Fast charging is expected to hold a major chunk in the market up to 2026 owing to less time requirement to charge the vehicles as compared to conventional fuel vehicles which takes less than 10 minutes. Fast charger requires heavy duty components such as AC/DC conversion, usage of high-power levels and installed control circuits make the charging infrastructure heavier therefore, to lower the weight and balance the overall cost in an efficient way. Based on location analysis, majority of electric charging stations are built in cities and hold the lion’s share in 2020. Government has decided to install electric charging stations on highways as well to provide convenience to existing and new consumers.

Sun Mobility, Mahindra & Mahindra Limited, Tata Motors Limited, Ather Energy Pvt. Ltd., Cellprop Private Limited, Exicom Tele-Systems Limited, Panasonic Corporation, Semco India Pvt. Ltd., Fortum Oyj, ABB Group are the leading players operating in India electric vehicle charging infrastructure market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several electric charging vehicle infrastructure manufacturers are coming up with their technologically advanced offerings.

“Consistent roll-out of policies by government to support the market growth of electric vehicles charging infrastructure and permission of sales and registration of electric vehicles without batteries is expected to boost the electric vehicle charging infrastructure market. Preference shift towards cleaner and alternative fuel coupled with lower maintenance costs for electric vehicles is anticipated to fuel the market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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Sample Data - Snapshot India Electric Vehicle Charging Infrastructure Market Size, By Value (USD Million) & Volume (Million Units), FY2017–FY2027F

6.00 20.00

5.00 10.00

7.00 30.00

8.00 40.00

CAGR By Value & Volume

FY2017

XX%

9.00 50.00

10.00 60.00

FY2021

FY2022E

By Value (USD Million)

By Volume (Million Units)

11.00 70.00

13.00 90.00

12.00 80.00

15.00 110.00

14.00 100.00

CAGR By Value & Volume

FY2027F

YY%

North India Electric Vehicle Charging Infrastructure Market Share, By Type of Charging, By Value, FY2017–FY2027F Direct Charging FY2027F FY2026F FY2025F FY2024F FY2023F FY2022F FY2021 FY2020 FY2019 FY2018 FY2017

Battery Swapping

50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

North India Electric Vehicle Charging Infrastructure Market Share, By Location, By Value, FY2017–FY2027F Highways Cities Others FY2027F FY2026F FY2025F FY2024F FY2023F FY2022F FY2021 FY2020 FY2019 FY2018 FY2017

34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34%

33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%

34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34%

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Report Name: INDIA ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET FORECAST & OPPORTUNITIES FY2017–FY2027

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in

number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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•

Global Electric Vehicle Charging Infrastructure Market By Type (AC Charger & DC Charger), By Installed Location (Commercial & Residential),

By Region (North America, Europe & Asia-Pacific), Competition, Forecast and Opportunities, 2024

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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.