India EV Charging Market Trends, Size and Report

India EV Charging Market Outlook

According to the report by Expert Market Research (EMR), the India EV charging market reached a volume of approximately 1.28 million units in 2024. Aided by the rising adoption of electric vehicles (EVs) and government initiatives promoting sustainable mobility, the India EV charging market size is projected to grow at an impressive CAGR of 22.20% between 2025 and 2034, reaching a volume of 9.50 million units by 2034.

Electric vehicle charging infrastructure plays a critical role in supporting the growth of the EV sector by providing the necessary ecosystem for EV operation. Charging stations enable the convenient and efficient recharging of EVs, facilitating their widespread adoption across the country. In India, the surge in environmental consciousness, coupled with strategic policy interventions, has significantly accelerated the deployment of EV charging stations, positioning the country as a key emerging market for electric mobility infrastructure.

The increasing focus on reducing carbon emissions and the country’s commitment to achieving net-zero targets by 2070 are major factors fuelling the growth of the EV charging market in India. Additionally, the government’s push through initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, coupled with various state-level policies and incentives, is further augmenting the expansion of the EV charging network across urban and rural areas.

India EV Charging Market Size

The India EV charging market has witnessed remarkable growth over recent years, reaching a volume of 1.28 million units in 2024. The market’s robust expansion is attributed to the exponential rise in EV sales, technological innovations, and strategic collaborations between public and private sector players. With increasing investments in charging infrastructure development, the market is poised for sustained growth, forecasted to reach approximately 9.50 million units by 2034.

Furthermore, the rising demand for fast-charging solutions, the growing establishment of charging corridors along highways, and the integration of renewable energy sources into charging networks are expected to significantly contribute to the market’s future expansion.

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India EV Charging Market Share

The EV charging market in India is characterised by the presence of numerous domestic and international players, contributing to a highly competitive landscape. Key market participants include Tata Power, Fortum India, Delta Electronics India, ABB India, and Ather Energy, among others. Tata Power currently holds a substantial share of the market, driven by its extensive charging station network and collaborations with EV manufacturers.

In addition to private enterprises, public sector undertakings such as Energy Efficiency Services Limited (EESL) are playing a pivotal role in developing the country’s EV charging ecosystem. The market is further witnessing increasing participation from oil marketing companies (OMCs) like Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL), which are actively setting up EV charging stations at fuel retail outlets.

India EV Charging Market Trends

Several trends are shaping the India EV charging market landscape:

Rapid Urbanisation and Smart Cities: The development of smart cities, with a focus on sustainable and smart mobility solutions, is driving the demand for advanced EV charging infrastructure.
Public-Private Partnerships (PPP): Collaborations between government bodies and private companies are accelerating the deployment of charging stations across strategic locations, including highways, airports, and metro stations.
Technology Integration: The adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technologies for smart charging solutions, remote monitoring, and predictive maintenance is gaining traction.
Battery Swapping Technology: In addition to traditional charging, battery swapping stations are emerging as a viable solution, particularly for two-wheelers and three-wheelers, enhancing operational efficiency and reducing downtime.
Renewable Energy Integration: Increasing emphasis on integrating solar energy and other renewable sources into EV charging stations to ensure eco-friendly and sustainable operations.

Drivers of Growth

Several factors are propelling the growth of the India EV charging market:

Government Initiatives: Policies like FAME II, the Production Linked Incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage, and state-specific EV policies provide financial incentives and infrastructure support.
Surge in EV Adoption: Growing consumer awareness about environmental sustainability and the economic benefits of EVs are leading to a significant rise in EV adoption across two-wheeler, three-wheeler, and four-wheeler segments.
Corporate and Industrial Demand: Enterprises are increasingly investing in fleet electrification, which necessitates the development of dedicated EV charging solutions.
Expansion of Charging Networks: Companies are expanding their networks in tier-2 and tier-3 cities, addressing range anxiety among potential EV buyers.
Technological Advancements: Improvements in battery technologies, such as faster charging capabilities and increased battery life, are creating greater confidence among consumers.

Technology and Advancements

Technological innovations are at the core of the evolving India EV charging market. The deployment of ultra-fast DC chargers, capable of charging an EV to 80% within 30 minutes, is gaining popularity. Moreover, smart charging solutions that allow vehicle-to-grid (V2G) communication are being introduced, enabling EVs to supply electricity back to the grid during peak demand periods.

Mobile apps and digital payment integration have enhanced the convenience of locating, booking, and paying for charging services. Companies are also exploring wireless charging technology, which, although currently at a nascent stage, is expected to see gradual adoption over the coming decade.

India EV Charging Market Segmentation

The market can be divided based on type, location, and region.

Market Breakup by Type

Station
Portable

Market Breakup by Location

Retail Spaces
Workplaces
Street Parking
Highways
Depot
Others

Market Breakup by Region

North India
East India
West India
South India

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India EV charging market. Some of the major Key players explored in the report by Expert Market Research are as follows:

Tata Power
Ather Energy
Delta Electronics India
Charzera Tech Pvt Ltd
Sharify Services Pvt Ltd
TechSo ChargeZone Ltd
Alektrify Private Limited
YoCharge
Jio-BP
Others

Challenges and Opportunities

Challenges:

Grid Infrastructure Limitations: Increased EV charging demand may strain existing electricity grids, necessitating upgrades and investments.
High Capital Investment: Setting up charging stations, especially fast-charging units, requires substantial initial investment.
Regulatory Hurdles: Variations in state-level policies and lack of uniform standards for chargers can impede market development.
Consumer Awareness: Limited awareness about EV charging options and infrastructure availability can slow down adoption rates.

Opportunities:

Renewable Energy Integration: Combining EV charging with renewable energy sources offers opportunities for creating greener and more sustainable charging networks.
Fleet Electrification: The electrification of commercial fleets and public transport provides a major avenue for market growth.
Emerging Markets: Tier-2 and tier-3 cities are witnessing growing demand for EVs, offering significant potential for infrastructure expansion.
Innovation in Business Models: Innovative solutions such as mobile charging stations and battery swapping services are expected to open new revenue streams.

India EV Charging Market Forecast

The India EV charging market is set to witness substantial growth over the next decade, driven by strong policy support, technological advancements, and the increasing adoption of electric mobility solutions. From a volume of 1.28 million units in 2024, the market is anticipated to grow at a robust CAGR of 22.20% between 2025 and 2034, reaching approximately 9.50 million units by 2034.

The expansion of the EV ecosystem, along with advancements in smart and ultra-fast charging technologies, will further bolster the market. Strategic investments by both private enterprises and public sector undertakings are expected to catalyse the creation of a widespread, accessible, and efficient EV charging network across the country.

As India continues its journey towards a sustainable transportation future, the EV charging market is poised to play a pivotal role in shaping the nation’s green mobility landscape, contributing significantly to the reduction of carbon emissions and fostering economic growth through new business opportunities.

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