EV Charger Market to Surge at a CAGR of 46.5% from 2022-2030

The Indian EV charger market is poised to cross annual sales of around 0.9 million units by 2030 in the Business as usual case, the report added. 

Autocar Pro News Desk By Autocar Pro News Desk calendar 28 Sep 2023 Views icon2638 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
EV Charger Market to Surge at a CAGR of 46.5% from 2022-2030

Customised Energy Solutions(CES)  and India Energy Storage Alliance (IESA) released their third annual “2022 India Electric Vehicle Charging Infrastructure & Battery Swapping Market Overview Report”, which states that the Indian EV charger ecosystem is dominated by type-2 AC charger which accounted for 82% of the market in 2021-22. 

The Indian EV charger market is poised to cross annual sales of around 0.9 million units by 2030 in the Business as usual case, the report added. 

The research report charts three distinct market projection scenarios for the coming decade: the worst-case scenario, business as usual (BAU), and a national EV scenario (NEV). According to the report's BAU scenario, the Indian EV charger market is poised to expand at an impressive CAGR of 46.5% between 2022 and 2030. It is predicted to achieve annual sales of  3.0 million units to meet the requirement of chargers to meet the NEV scenario by 2030, with strong push towards type-2 and fast charger installations.

During 2021, the total EV chargers supplied were more than 17,000 units. This includes chargers procurement by PSU, commercial fleet operators, bus operators and CPOs, supplied by EV OEMs  along with e-4W. 

EV charger demand in India witnessed an increase in 2022 owing to tenders announced by PSUs such as Convergence Energy Services Limited (CESL), NTPC Vidyut Vyapar Nigam Ltd., Indian Oil Corporation Limited (IOCL), and Kerala State Electricity Board (KSEB) which is expected to add around 6,000 charging stations by 2023.

Efforts taken by Department of Heavy Industries through FAME Scheme has resulted in the increase in number of charging stations in India. State governments are also taking active steps to increase EV charging network in the state by providing attractive incentives in the form of capital subsidy and 100% reimbursement of state goods and services tax, the report further added. 

States like Haryana, Kerala, Madhya Pradesh & Andhra Pradesh provide attractive capital subsidy for deployment of limited number of fast and slow EV chargers. Further, Delhi & Maharashtra emerge to be favourable locations for installing of private charging due to availability of additional state subsidy. Also, some of the state’s regulatory commission have announced tariff for EV charging under separate category in tariff order.


According to the report, the main factors propelling the EV charger market's expansion in the current decade will be the following:

  • Annual sales of  of lithium-ion based EV is expected to be 17 million  in  2030 under Business as usual scenario. This includes e-2W,e-3W,e-buses,e-trucks, e-4W.
  • Presence of supportive policies and regulations in some states such as capital subsidy for deployment of slow and fast EV chargers, allocation of specific percentage for EV charging ready parking spots in new commercial & residential buildings.
  • Collaboration among EV OEMs (Hero Electric, BYD India, Ather Energy) & charge point operators (Charge Zone, Magenta ChargeGrid) will boost to set up new EV charging stations in forecast period.
  • Real estate developer companies such as Omaxe, Lodha Group, MyGate, and Rustomjee Group collaborated with EV charging station developer companies to deploy EV charging solutions in their new & existing properties.

Dr. Rahul Walawalkar, Founder and President, India Energy Storage Alliance (IESA) and President & MD of Customised Energy Solutions India Pvt. Ltd says, “India's electric revolution is gaining momentum at an astonishing pace. This report highlights our nation's exceptional strides in electrifying the transport sector. Government policies and private investments are propelling us towards a future with clean, accessible electric mobility. With a commitment to innovation and sustainability, India is poised to lead the global charge towards emission-free transportation."

Avanthika Satheesh, Director, Customised Energy Solutions, says, “India's electrification journey is a testament to our collective determination to combat climate change and drive sustainable transportation. Our report showcases the critical role of policies and industry collaborations in accelerating India's electric vehicle infrastructure."

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