Automotive Business Point

In 2019, the Indian electric vehicle supply equipment (EVSE) market generated a revenue of $1,027.9 thousand and is expected to attain a value of $13,833.0 thousand in 2025, registering a 54.2% CAGR during the forecast period (2019–2025). On the basis of type, the AC chargers accounted for the major share of the market in 2019. During the forecast period, the DC chargers are predicted to grow at the faster pace, as the government is making extensive plans for installing fast-charging stations in tier-1 cities and along the expressways and highways. The private chargers category dominated the Indian electric vehicle supply equipment market  in 2019, due to the early adoption of these chargers in the country, higher requirement among customers for overnight charging at homes and commercial places, and low cost. The supportive government policies and initiatives is a major driving factor of the market. For example, the Faster Adoption and Manufacturing of (Hybrid & Electric) ...