Indian EVSE Market - ABB Ltd., Schneider Electric SE, Delta Electronics Inc

by Rahul Gautam on Apr 14, 2022 GPS 312 Views

Factors such as the burgeoning demand for electric vehicles (EVs) and increasing installation of chargers and charging stations are expected to drive the Indian electric vehicle supply equipment (EVSE) market at a healthy CAGR of 54.2% during the forecast period (2019–2025). According to P&S Intelligence, the market was valued at $1,027.9 thousand in 2019, and it is projected to exceed $13,833.0 thousand revenue by 2025. Additionally, the rising environmental concerns and surging government support toward EV adoption and EVSE installation will also contribute to the market growth.

The booming demand for EVs, on account of the escalating concerns regarding high air pollution levels and increasing government initiatives in the form of subsidies and incentives on the production and adoption of such new energy vehicles, is one of the key growth drivers for the market. According to the Society of Manufacturers of Electric Vehicles (SMEV), EV sales in India rose from 129,600 units in the financial year 2018–2019 to 155,400 in the financial year 2019–2020.

Another growth driver for the Indian EVSE market is the rising installation of EV charging stations across the country. Government organizations and EV manufacturers in India are currently focusing on the establishment of a strong EV charging environment to boost the adoption of electricity-driven automobiles. To meet the soaring requirement for electricity from vehicles on the road, government agencies and EV producers are planning to set up energy-efficient charging stations that use solar energy as their power source.

Currently, the Indian EVSE market is consolidated in nature, due to the presence of few players. Whereas, the market is expected to become fragmented in the forecast years, owing to the entry of prominent global players and numerous startups in the country. Some of the leading market players are ABB Ltd., Exicom Tele-Systems Ltd., EV Motors India Pvt. Ltd., Schneider Electric SE, Ather Energy Pvt. Ltd., Delta Electronics Inc., Bharat Heavy Electricals Ltd., Magenta Power Pvt. Ltd., ANI Technologies Pvt. Ltd. (Ola), and Tata Power Co. Ltd.

The type segment of the Indian EVSE market is bifurcated into AC and DC. Of these, the AC category generated the highest revenue during the forecast period (2014–2019), due to the low cost of production, operation, and installation of AC chargers. Whereas, the DC category is projected to witness the faster growth during the forecast period, due to the faster charging capability of DC chargers as compared to AC chargers. DC chargers are usually installed along highways, rather than at homes or business complexes.

Geographically, the Western region accounted for the highest share in the Indian EVSE market in 2019, due to the increasing government support for the production and adoption of EVs in the region, especially in Maharashtra and Gujarat. Moreover, the mounting per capita income in this region will also drive the demand for EVSE, owing to the booming EV demand. Additionally, the presence of leading EV and EV component manufacturers in western India will also supplement the market growth in the forecast years.

Thus, the burgeoning EV demand and increasing installation of EV charging stations will facilitate the market growth

Article source: https://article-realm.com/article/Communications/GPS/21186-Indian-EVSE-Market-ABB-Ltd-Schneider-Electric-SE-Delta-Electronics-Inc.html

Reviews

Guest

Overall Rating:

Comments

No comments have been left here yet. Be the first who will do it.
Safety

captchaPlease input letters you see on the image.
Click on image to redraw.

Most Viewed Articles

Statistics

Members
Members: 16307
Publishing
Articles: 66,152
Categories: 202
Online
Active Users: 904
Members: 4
Guests: 900
Bots: 5519
Visits last 24h (live): 2887
Visits last 24h (bots): 16507

Latest Comments

Good work! we can apply all the major keypoints for our business. Kindly share some more about trendy distribution points for the business holders. Will back soon on ur work page after wind up my...
For more information on how to download and use the Chinese version of Telegram, please visit our external blog link: Telegram下載   
FNF is an entertaining rhythm game that tests players' musical skills with catchy tracks that appeal to the gaming audience.
Companies that aspire to adapt and succeed in the business are leveraging the benefits of emerging trends.
Designer handbags have long been synonymous with sophistication, status, and impeccable craftsmanship. These fashion staples are more than just accessories; they are investments in artistry,...