FY2017–FY2027 INDIA ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET FORECAST & OPPORTUNITIES
www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report Product of Interest (POI): Electric Vehicle Charging Infrastructure
Electric vehicle charging infrastructure is a machine which supplies electric energy to electricity operated automobiles. Evolution of smart grid technologies and the concept of virtual power plants is forecast to further boost the India market for electric vehicles and its related electric charging infrastructure through FY2027.
Market Segmentation ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET
TYPE OF CHARGING
CHARGER TYPE
•
Direct Charging
•
Fast Charger
•
Battery Swapping
•
Slow Charger
LOCATION
MODE OF CHARGING
•
Highways
•
Plug-in Charging System
•
Cities
•
Wireless Charging System
•
Others
APPLICATION
Year Range Review Period
FY2017 – FY2020 Base Year
FY2021 REGION
Estimated Year
•
Commercial
•
North
•
Residential
•
South
•
East
Forecast Period
•
West
FY2023 – FY2027
FY2022
2
Table of Contents S. No.
Contents
1.
Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)
2.
Research Methodology (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)
3.
Impact of COVID-19 on India Electric Vehicle Charging Infrastructure Market
4.
Executive Summary (This chapter covers summary of the complete study.)
5.
Voice of Customer (Brand Awareness, Challenges Faced Post Purchase, Factors Influencing Purchase Decision)
6.
India Electric Vehicle Charging Infrastructure Business Scenario 6.1.
Global Electric Vehicle vs India Electric Vehicle Charging Infrastructure Business Scenario
6.2.
India I.C.E. Vehicle Fueling Infrastructure vs India Electric Vehicle Charging Infrastructure Scenario
7.
Government Initiative
8.
India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) 8.1.
Market Size & Forecast 8.1.1.
8.2.
Page No.
By Value & Volume
Market Share & Forecast (The overall product of interest bifurcated/split among various segments.)
8.2.1.
By Type of Charging (Direct Charging and Battery Swapping)
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Table of Contents S. No.
Contents
8.3. 9.
8.2.2.
By Location (Highways, Cities and Others)
8.2.3.
By Application (Commercial, Residential)
8.2.4.
By Charger Type (Fast Charger, Slow Charger)
8.2.5.
By Mode of Charging (Plug-in charging system, Wireless charging system)
8.2.6.
By Company (FY2021)
8.2.7.
By Region (North, East, West, South)
Page No.
Product Market Map (By Type of Charging, By Location, By Region)
North India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 9.1.
Market Size & Forecast 9.1.1.
9.2.
9.3.
By Value & Volume
Market Share & Forecast (The overall product of interest bifurcated/split among various segments.) 9.2.1.
By Type of Charging (Direct Charging and Battery Swapping)
9.2.2.
By Location (Highways, Cities and Others)
9.2.3.
By Application (Commercial, Residential)
9.2.4.
By Charger Type (Fast Charger, Slow Charger)
9.2.5.
By Mode of Charging (Plug-in charging system, Wireless charging system)
Product Market Map (By Type of Charging)
4
Table of Contents S. No. 10.
Contents East India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 10.1.
Market Size & Forecast 10.1.1.
10.2.
10.3. 11.
Page No.
By Value & Volume
Market Share & Forecast (The overall product of interest bifurcated/split among various segments.) 10.2.1.
By Type of Charging (Direct Charging and Battery Swapping)
10.2.2.
By Location (Highways, Cities and Others)
10.2.3.
By Application (Commercial, Residential)
10.2.4.
By Charger Type (Fast Charger, Slow Charger)
10.2.5.
By Mode of Charging (Plug-in charging system, Wireless charging system)
Product Market Map (By Type of Charging)
West India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 11.1.
Market Size & Forecast 11.1.1.
11.2.
By Value & Volume
Market Share & Forecast (The overall product of interest bifurcated/split among various segments.) 11.2.1.
By Type of Charging (Direct Charging and Battery Swapping)
11.2.2.
By Location (Highways, Cities and Others)
11.2.3.
By Application (Commercial, Residential)
11.2.4.
By Charger Type (Fast Charger, Slow Charger)
11.2.5.
By Mode of Charging (Plug-in charging system, Wireless charging system)
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Table of Contents S. No.
Contents 11.3.
12.
Product Market Map (By Type of Charging)
South India Electric Vehicle Charging Infrastructure Market Outlook, FY2017-FY2027F 12.1.
Market Size & Forecast 12.1.1.
12.2.
12.3. 13.
By Value & Volume
Market Share & Forecast (The overall product of interest bifurcated/split among various segments.) 12.2.1.
By Type of Charging (Direct Charging and Battery Swapping)
12.2.2.
By Location (Highways, Cities and Others)
12.2.3.
By Application (Commercial, Residential)
12.2.4.
By Charger Type (Fast Charger, Slow Charger)
12.2.5.
By Mode of Charging (Plug-in charging system, Wireless charging system)
Product Market Map (By Type of Charging)
Market Dynamics (This chapter assesses the major demand drivers and restraints.) 13.1.
Drivers
13.2.
Challenges
14.
Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)
15.
Policy & Regulatory Landscape of India Electric Vehicle Charging Infrastructure
16.
India Economic Profile
17.
Page No.
SWOT Analysis
6
Table of Contents S. No. 18.
Contents
Page No.
Competitive Landscape 18.1.
Competition Outlook
18.2.
Company Profiles (Top 10 Leading Companies) 18.2.1.
Company Details
18.2.2.
Products & Services
18.2.3.
Financials (As Reported)
18.2.4.
Key Market Focus & Geographical Presence
18.2.5.
Recent Developments
18.2.6.
Key Management Personnel
19.
Strategic Recommendations
20.
About Us & Disclaimer
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RESEARCH METHODOLOGY
Research Methodology
Market Profiling In-depth secondary research was conducted to determine top players in the India electric vehicle charging infrastructure market, overall market size and segmental market size.
Formulating Questionnaire
In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.
Developing List of Respondents
List of industry players and industry specialists was developed.
Data Collection
Data Validation Data obtained as a result of primary and secondary research was validated through rigorous triangulation.
TechSci conducted interviews with industry experts and industry players for data collection and verification.
Primary Research
Data Collection
Data Filter & Analysis
Research & Intelligence
Actionable Insights
Business Solution
Desk Research
✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews
Primary Research
Secondary Research
✓ LinkedIn ✓ TechSci Internal Database
✓ Company Websites ✓ Company Annual Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc.
✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Conclusion
Data Analysis
The data was scrutinized using MSExcel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India electric vehicle charging infrastructure market.
Company Analysis ✓ Market Participants ✓ Key Strengths
Paid Sources ✓ Factiva ✓ Hoovers
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Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India electric vehicle charging infrastructure market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rising concerns for safer environment, increasing government support for electric commercial vehicles and growth in number of electric vehicles, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in
India electric vehicle charging infrastructure market.
Methodology Followed for Calculation of Market Size: •
Market Size By Value : Market size, in terms of value, for the year FY2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as electric vehicle charging infrastructure companies, end users, industry experts, and other industry participants.
•
The team interviewed more than 40 – 50 companies, 180 – 200 end users, and 15 – 20 industry experts and other value chain stakeholders in the India Electric Vehicle Charging Infrastructure market to obtain the overall market size from FY2017 to FY2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2017-FY2021.
•
Respondents were asked about the current and future market growth rates, market shares by type of charging, by location, by application, by charger type, by mode of charging, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares
10
Research Methodology Methodology Followed for Calculation of Market Shares: Market by type of charging, by location, by application, by charger type, by mode of charging, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of electric vehicle charging infrastructure market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting:
•
TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.
•
Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India electric vehicle charging infrastructure market, TechSci Research used various forecast techniques such as: ✓
Moving Average
✓
Time Series Analysis
✓
Regression Analysis
✓
Econometric and Judgmental Analysis
11
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. Partial List of Companies Interviewed
Key Secondary Sources
▪ Sun Mobility
▪ World Bank
▪ Mahindra & Mahindra Limited
▪ TechSci Research Proprietary Database & Knowledge
▪ Tata Motors Limited
Repository
▪ Ather Energy Pvt. Ltd.
▪ Company Annual Reports
▪ Cellprop Private Limited
▪ Industry Magazines
▪ Exicom Tele-Systems Limited
▪ Industry Reports
▪ Panasonic Corporation
▪ Statista
▪ Semco India Pvt. Ltd.
▪ News Dailies
▪ Fortum Oyj
▪ Credible Paid Databases
▪ ABB Group
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Industry Brief According to TechSci Research report, “India Electric Vehicle Charging Infrastructure Market By Type of Charging (Direct Charging and Battery Swapping), By Location (Highways, Cities and Others), By Application (Commercial, Residential), By Charger Type (Fast Charger, Slow Charger), By Mode of Charging (Plug-in charging system, Wireless charging system), By Company and By Geography, Forecast & Opportunities, FY2027”, India electric vehicle charging infrastructure market is expected to witness robust growth in the next five years owing to stringent government policies to support alternative fuel and minimize the burden on conventional fuels is the contributing factor for the electric vehicle charging infrastructure growth during the forecast period. Under the FAME II scheme government has decided to provide subsidy for 10lakh two wheelers, 5 lakh three-wheelers, around 55,000 four-wheelers, and 7,000 buses running on electricity which is anticipated to create lucrative opportunities for the electric vehicle charging infrastructure market growth. Recent developments and technological innovations to upgrade the existing electric vehicle charging infrastructure for instance recycling, battery reuse and leasing to bring down the high up-front cost is expected to act as contributing factor in the India electric vehicle charging infrastructure market growth. Also, setting up charging station separately for electric vehicles does not require possession of license which is expected to foster the demand for the electric vehicle charging infrastructure. India electric vehicle charging infrastructure market can be segregated based on type of charging, location, application, charger type, mode of charging, region, and company. Based on charger type electric vehicle charging infrastructure is fragmented into fast charging and slow charger sector. Fast charging is expected to hold a major chunk in the market up to 2026 owing to less time requirement to charge the vehicles as compared to conventional fuel vehicles which takes less than 10 minutes. Fast charger requires heavy duty components such as AC/DC conversion, usage of high-power levels and installed control circuits make the charging infrastructure heavier therefore, to lower the weight and balance the overall cost in an efficient way. Based on location analysis, majority of electric charging stations are built in cities and hold the lion’s share in 2020. Government has decided to install electric charging stations on highways as well to provide convenience to existing and new consumers. Sun Mobility, Mahindra & Mahindra Limited, Tata Motors Limited, Ather Energy Pvt. Ltd., Cellprop Private Limited, Exicom Tele-Systems Limited, Panasonic Corporation, Semco India Pvt. Ltd., Fortum Oyj, ABB Group are the leading players operating in India electric vehicle charging infrastructure market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several electric charging vehicle infrastructure manufacturers are coming up with their technologically advanced offerings. “Consistent roll-out of policies by government to support the market growth of electric vehicles charging infrastructure and permission of sales and registration of electric vehicles without batteries is expected to boost the electric vehicle charging infrastructure market. Preference shift towards cleaner and alternative fuel coupled with lower maintenance costs for electric vehicles is anticipated to fuel the market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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Sample Data - Snapshot India Electric Vehicle Charging Infrastructure Market Size, By Value (USD Million) & Volume (Million Units), FY2017–FY2027F
6.00 20.00
5.00 10.00
7.00 30.00
8.00 40.00
CAGR By Value & Volume
FY2017
XX%
9.00 50.00
10.00 60.00
FY2021
FY2022E
By Value (USD Million) By Volume (Million Units)
11.00 70.00
13.00 90.00
12.00 80.00
15.00 110.00
14.00 100.00
CAGR By Value & Volume
FY2027F
YY%
North India Electric Vehicle Charging Infrastructure Market Share, By Type of Charging, By Value, FY2017–FY2027F Direct Charging FY2027F FY2026F FY2025F FY2024F FY2023F FY2022F FY2021 FY2020 FY2019 FY2018 FY2017
Battery Swapping
50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
North India Electric Vehicle Charging Infrastructure Market Share, By Location, By Value, FY2017–FY2027F Highways Cities Others FY2027F FY2026F FY2025F FY2024F FY2023F FY2022F FY2021 FY2020 FY2019 FY2018 FY2017
34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34%
33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34%
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Report Name: INDIA ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET FORECAST & OPPORTUNITIES FY2017–FY2027
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About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in
number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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•
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