The Indian Electric Vehicle Supply Equipment market is predicted to reach a value of over $13,833.0 thousand by 2025, rising from $1,027.9 thousand in 2019, and is expected to exhibit a 54.2% CAGR during the forecast period (2019–2025).
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Indian Electric Vehicle Supply Equipment (EVSE)
Market with Key Companies Profile & Cost
Structure Analysis By 2025
The need for increasing the adoption of electric vehicles in India is extremely high, since the
country is among the most polluted countries across the world. Owing to the large population
and rising disposable income, the number of vehicles on roads of the country has risen
drastically over the past few years. This increased utilization of vehicles that run on petroleum
or diesel is one of the primary causes of surging air pollution levels in India. It is due to all
these factors that the government of the country is increasingly trying encourage people to opt
for electric vehicles rather than traditional fuel-based vehicles.
Moreover, as people themselves are getting aware of the rapid global warming, the sales to
electric vehicles in India have risen significantly. The total sale of electric vehicles rose by
32.0% from 2018–2019, increasing from 567,000 units to more than 760,000 units. This
growing demand for electric vehicles is bound to create demand for supportive infrastructure
that is needed for these vehicles, which is why, the demand for electric vehicle supply
equipment (EVSE) in India is increasing rapidly as well. The increasing efforts of the
government of the country is the major reason behind the growth of the Indian EVSE market.
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These days, energy efficiency has become a common, household topic, and major companies
are focusing on introducing as many energy efficient solutions as they can. This is true for the
companies operating in the EVSE domain as well, where various players are investing in the
development of charging stations that are powered by solar energy. India is planning on
attaining a renewable energy generation capacity of 175 gigawatts (GW) by 2022, which
would include 100 G