EV Charging Station Market in India (2025 - 2030)

The electric vehicle (EV) charging station market in India is set for significant expansion between 2024 and 2029, driven by increasing EV adoption, supportive government policies, and substantial investments in infrastructure development. This growth is expected to facilitate a more robust and accessible charging network, addressing range anxiety and promoting sustainable transportation solutions across the country.

Market insights:

In FY 2024, a total of 16,089 EV charging stations were installed across the country. By the end of FY 2029, a total of 96,113 EV charging stations are expected to be installed, expanding at a compound annual growth rate (CAGR) of ~43.98% during the FY 2024 - FY 2029 period.

This substantial growth is attributed to the rising adoption of electric vehicles, driven by environmental concerns and government initiatives promoting clean energy. By the end of 2025, the Indian government's commitment to expanding charging infrastructure is evident, with plans to install over 2,600 stations, aiming for one every 25 kms, to alleviate range anxiety among EV users. Additionally, the implementation of favorable policies and incentives, such as tax benefits and subsidies for EV manufacturers and consumers, is further propelling market growth. The increasing participation of private players and investments in the sector are also contributing to the rapid development of a comprehensive EV charging network across the country.

Market influencers:

Several key factors are influencing the growth of the EV charging station market in India. Government policies play a pivotal role, with initiatives like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme providing financial incentives for EV adoption and infrastructure development. The rising environmental awareness among consumers and the need to reduce carbon emissions are driving the shift towards electric mobility. Technological advancements in charging solutions, including the development of fast-charging and smart-charging technologies, are enhancing user convenience and encouraging adoption.

Furthermore, the entry of private sector companies, such as Exicom Tele-Systems, which anticipates its EV charger business to constitute 50% of its revenue by 2030, underscores the growing business interest and investment in this sector. Collaborations between automotive manufacturers and charging infrastructure providers are also facilitating the establishment of a widespread and reliable charging network, essential for the mass adoption of electric vehicles in India.

Market trends:

The Indian EV charging station market is witnessing several notable trends during the forecast period. There is a significant push towards the development of fast-charging infrastructure to reduce charging times and enhance user convenience, addressing one of the major concerns of potential EV buyers. The integration of renewable energy sources, such as solar power, into charging stations is gaining traction, promoting sustainable and cost-effective charging solutions.

The adoption of smart charging technologies, enabling real-time monitoring and efficient energy management, is on the rise, improving the overall efficiency of the charging network. Additionally, the expansion of charging infrastructure in tier-2 and tier-3 cities is being prioritized to support the widespread adoption of electric vehicles beyond metropolitan areas. The involvement of startups and technological firms in developing innovative charging solutions is further propelling the market.