business

India EV infrastructure market to witness a CAGR of 30% through 2028

India EV infrastructure market to witness a CAGR of 30% through 2028

Business analysts cite that India EV infrastructure market is anticipated to witness a CAGR of 30% during the forecast timeframe to accrue noteworthy returns by the end of 2028.

Robust government push, well-coordinated policies, and constant efforts toward improvements in the automobile sector by key players are driving India EV infrastructure market.

For the unversed, the Indian government is planning to convert 30% of private automobiles, 70% of all commercial vehicles, 40% of buses, and 80% of two- and three-wheeled vehicles into electric vehicles. However, having enough charging stations installed throughout India is necessary to meet this goal.

Additionally, Niti Ayog, the apex public policy think-tank of the Indian government, recommended that railways begin setting up charging facilities and swapping terminals at railroad stations and office buildings in at least 20% of their parking space and establish at least one EV charging station at each designated staffed level crossing and railroad colony in January 2022.

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Moreover, keen interest in the development of the overall EV infrastructure of key participants as well as economic and monetary incentives to crank up this burgeoning technology from the government is anticipated to bolster industry outlook in the coming years.

Besides, because the key participants in the automobile sector of the country have been so optimistic and welcoming toward this initiative, along with rising interest among people toward promoting sustainable living, the business sphere is likely to unearth favorable opportunities for the new entrants in India EV infrastructure market.

Based on charger type, the market is divided into fast chargers and slow chargers. In terms of connector, the industry is branched into CCS, CHAdeMo, type-2, and type-1. On the basis of application ambit, the market is classified into residential and commercial.

Regionally, the latest trends are studied across North, West & Central, Southern, and Eastern parts of India. The report conducts a country-wide analysis to ascertain which regions have the most potential for generating income in this business landscape, thus guiding stakeholders and other interested parties in gaining a proper understanding of the current situation.

Moving to competitive landscape, the leading players in India EV infrastructure industry are Schneider Electric SE, Panasonic Industry Co., Ltd., ABB India Ltd., Fortum Corp., Tecso ChargeZone (P) Ltd., EVI Technologies, Tata Power Ltd., Rajasthan Electronics and Instruments Ltd., and Energy Efficiency Service Ltd.

Questions And Answers: India EV Infrastructure Market

Q1. What are the growth determinants for India EV infrastructure market?

Answer: Robust government push, well-coordinated policies, industry activities, including keen interest in the development of the overall EV infrastructure of key participants as well as economic and monetary incentives to crank up this burgeoning technology from the government is anticipated to bolster industry outlook in the coming years.

Q2. Which regions are studied under India EV infrastructure market report?

Answer: Regionally, the latest trends are studied across North, West & Central, Southern, and Eastern parts of India.  

Q3. Which are the key players in India EV infrastructure market?

Answer: The leading players in India EV infrastructure market are Schneider Electric SE, Panasonic Industry Co., Ltd., ABB India Ltd., Fortum Corp., Tecso ChargeZone (P) Ltd., EVI Technologies, Tata Power Ltd., Rajasthan Electronics and Instruments Ltd., and Energy Efficiency Service Ltd.

For more details on this report:

https://www.marketstudyreport.com/reports/india-ev-infrastructure-market-investment-growth-opportunity-analysis-2019-2028

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