India E-Vehicles Charging Infrastructure Market – Industry Trends and Forecast to 2028
MarkNtel Advisors, a prominent market research firm, has recently published a report titled India E-Vehicles Charging Infrastructure Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing India E-Vehicles Charging Infrastructure market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.
India E-Vehicles Charging Infrastructure Reports Highlights
What is the size of the India E-Vehicles Charging Infrastructure Market?
The India E-Vehicles Charging Infrastructure Market is projected to grow at a CAGR of more than 30% during the forecast period, i.e., 2023-28. The market is driven by the rapid adoption of EVs propagated by increasing concerns over environmental degradation, excessive use of fossil fuels, and mounting emissions, leading to several health issues while challenging sustainability.
Accordingly, there is a consumption shift from internal combustion engine vehicles to electric vehicles, thus bolstering its advancement to cater to the proliferating needs. Consequently, there is a growing demand for electric vehicle charging infrastructure in industrial & residential applications.
What do the growth prospects and trends look like in the India E-Vehicles Charging Infrastructure Industry?
The installation cost for charging points poses a threat to industrial expansion. Additionally, since certain charging stations may be compatible with only certain types of voltage, differing from various kinds, the public chargers compatible with all EVs are already low, further hindering the consumer adoption of charging stations and adding to the already high setup cost. Moreover, the charging stations are not making enough revenue, with the majority of the consumer choosing to charge their vehicles from home, impeding the demand for public charging points might restrain industrial growth.
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What Components are encompassed within India E-Vehicles Charging Infrastructure Market segmentation?
The report has divided the market into the following segments:
By Type of Charging
-Slow AC Charging
-Fast DC Charging
By End User
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Who are the Primary Companies or Entities active in the Industry?
The report covers the major market players including:
–Mahindra & Mahindra
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