India EV Charging Market Outlook

According to the report by Expert Market Research (EMR), the India electric vehicle charging market size reached a value of 1.28 million units in 2024. Driven by the growing adoption of electric vehicles, increasing government initiatives, and the rising demand for sustainable transportation, the market is projected to grow at a compound annual growth rate (CAGR) of 22.0% between 2025 and 2034, to reach a value of  7.80 million units by 2034.

Electric vehicles have rapidly emerged as a key part of India’s future mobility strategy, particularly in light of the country’s commitment to reducing carbon emissions and dependence on fossil fuels. The expansion of EV infrastructure, including charging stations, is integral to the growth of the electric vehicle market in India. The government’s push towards a cleaner environment, along with growing public awareness and support for EVs, is making electric vehicles a more viable and attractive option for Indian consumers.

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Key Growth Drivers

The India EV charging market is driven by several important factors, ranging from policy support to the rapid growth of electric vehicle adoption. Below are the key drivers that are shaping the market:

Government Initiatives and Policy Support: The Indian government has played a significant role in the promotion of electric vehicles and their charging infrastructure. Under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, the government has provided incentives for both manufacturers and consumers to support the adoption of EVs. Moreover, various state governments have launched their own policies to encourage the establishment of EV charging stations.

In addition to financial incentives for consumers, the government is also facilitating the establishment of EV charging infrastructure through the creation of a nationwide network. Policies like the National Electric Mobility Mission Plan (NEMMP) aim to boost the EV adoption rate and address the challenges of range anxiety by ensuring easy access to charging stations across the country.

The government's commitment to a cleaner environment and its target to have 30% of vehicles on the road be electric by 2030 are further fueling the growth of the EV charging market. Financial support for charging station installation and subsidies for EVs are providing significant impetus to the sector.

Rising Adoption of Electric Vehicles: As the adoption of electric vehicles increases in India, the demand for EV charging stations has also surged. EV sales have gained momentum, driven by improvements in battery technology, the expansion of electric vehicle models, and the growing recognition of the environmental benefits of EVs. With more individuals and businesses making the shift to electric mobility, the demand for accessible and reliable EV charging infrastructure is becoming increasingly essential.

Private consumers, fleet operators, and businesses are all contributing to this increased demand. Fleet operators, in particular, are expected to be among the largest consumers of EVs in the future, as electric buses, cars, and delivery vans offer cost savings in terms of fuel and maintenance. The growing acceptance of EVs is directly linked to the establishment of reliable and convenient charging stations, especially in urban areas where EV adoption is most prominent.

Development of Public and Private Charging Infrastructure: The growing demand for electric vehicles has driven the development of charging infrastructure, with both public and private sector players investing in EV charging stations. Large companies such as Tata Power, Fortum, and ReNew Power, along with regional players, are working to install fast-charging stations across major cities, highways, and public spaces.

The establishment of public charging stations at prominent locations like malls, office complexes, and transportation hubs, as well as private stations at residential buildings and commercial establishments, is key to addressing the issue of range anxiety – the concern that an EV may run out of charge before reaching the next charging station.

In addition, collaborations between automotive manufacturers, energy companies, and local governments are accelerating the development of a comprehensive charging infrastructure. Charging stations are increasingly being deployed in areas with high vehicle density, ensuring ease of access to charging points.

Technological Advancements in Charging Infrastructure: Technological advancements in EV charging infrastructure are significantly contributing to market growth. The development of fast-charging and ultra-fast charging technologies is reducing the charging time, making electric vehicles more convenient for everyday use. Advanced charging solutions, such as ultra-fast DC chargers and wireless charging, are expected to revolutionize the EV charging landscape in India.

Moreover, the integration of smart technologies into charging stations is enhancing user experience. Features like mobile apps for locating nearby chargers, online payments, and scheduling charging times are improving the convenience and efficiency of using EV chargers. This adoption of modern, user-friendly technologies is helping to promote the widespread adoption of electric vehicles.

Focus on Sustainability and Clean Energy: India’s growing focus on sustainability and clean energy is further propelling the adoption of electric vehicles and their charging infrastructure. With air pollution and carbon emissions becoming increasingly critical issues in India’s urban centers, there is a strong governmental and public push toward greener alternatives. The Indian government aims to reduce the country’s carbon footprint by promoting EVs as a cleaner mode of transportation.

Renewable energy sources like solar and wind power are increasingly being integrated with EV charging stations to make the charging process more sustainable. This is particularly relevant in a country like India, where abundant sunlight offers a prime opportunity for solar-powered EV charging stations. Green charging stations, which use renewable energy to charge EVs, are becoming a popular trend in the industry and are expected to contribute to the market's expansion.

Growing Urbanization and Rising Disposable Incomes: The rapid urbanization of India, coupled with rising disposable incomes, is playing a pivotal role in the increasing adoption of electric vehicles. As cities expand and traffic congestion worsens, EVs are seen as an ideal solution for urban mobility due to their low operating costs, reduced noise pollution, and minimal carbon emissions.

Rising incomes have also made EVs more affordable for a larger segment of the population. Manufacturers are introducing more affordable electric vehicle options to cater to the growing middle class. As a result, the demand for EVs—and consequently, EV charging infrastructure—is expected to continue growing, particularly in metropolitan areas where pollution levels are higher, and the transition to electric mobility is becoming a necessity.

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Dairy Alternatives Market Segmentation

The market can be divided based on source, application, distribution channel, region.

Breakup by Source

  • Soy
  • Almond
  • Coconut
  • Rice
  • Oats
  • Hemp
  • Others

Breakup by Application

  • Milk
  • Ice Creams
  • Yogurt
  • Cheese
  • Creamers
  • Others

Breakup by Distribution Channel

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Health Stores
  • Online Retailers
  • Others

Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

Some of the major players explored in the report by Expert Market Research are as follows:

  • Kerry Group Plc
  • Califia Farms LLC
  • The Döhler Group
  • Ripple Foods Inc.
  • Nestle S.A
  • Kite Hill
  • Elmhurst Milked Direct LLC
  • Pacific Foods of Oregon, LLC
  • SunOpta, Inc.
  • Daiya Foods Inc.
  • The Archer-Daniels-Midland Company
  • Danone S.A. (SILK)
  • The Hain Celestial Group, Inc.
  • Eden Foods, Inc
  • Earth's Own Food Company Inc.
  • Others

Challenges in the Market

Despite the promising growth prospects, the India EV charging market faces several challenges, including the lack of widespread charging infrastructure, high installation costs, and the need for standardization across charging networks. Additionally, concerns regarding the reliability of the power grid and limited access to charging stations in rural areas pose barriers to widespread EV adoption.

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