India Electric Vehicle Charging Station Market- Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The India electric vehicle charging stations market is expected to grow with a CAGR of around 25% during the forecast period. The COVID-19 pandemic had a slight impact on the electric vehicle (EV) charging infrastructure market, which was reflected in the delayed manufacturing of essential components due to supply-chain disruptions. But the projects planned by the public or private sector for new EV charging infrastructure remained untouched by the pandemic. As an example, the Indian government planned around 69,000 EV charging stations in the year 2020. The India EV charging station market is likely to have positive growth in the near future due to the growing demand for electric vehicles in the country, and the need for EV charging infrastructure in scarcely populated areas in the country. However, the current low utilization rate of the EV charging stations in many areas of the country is expected to hamper the growth of the market.
Key HighlightsThe India electric vehicle charging station market is moderately fragmanted. Some of the key players include Tata Power Company Limited, Charzer Tech Pvt Ltd., Mass-tech Controls Pvt Ltd., ABB Ltd., and Exicom Telesystems Ltd.
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