With the rise in demand for cleaner and sustainable transportation, supportive govt policies, and private investments, India’s EV charger market is expected to grow at a CAGR of 46.5% with annual charger sales crossing 0.9 million units by 2030. In this article, we will explore the current EV charger market in India and look at the top EV charger manufacturers in the country. We will also discuss the benefits of investing in an EV charger, the cost comparisons between different EV charger models, and the environmental impact of EV chargers.
Understanding the EV Industry in India
There is no doubt that the EV market in India is growing. The Indian government has set a target of 30% EV sales by 2030. As a result, having enough charging infrastructure is a critical necessity that will define EV adoption trends in India. EV sales in 2021 were 0.47 million units, with a projected growth of 16 million units by 2030. Government policies such as FAME1 and FAME 2 schemes, as well as subsidies, collaboration among EV OEMs and charge point operators as more tenders come from government companies such as IOCL, KSEB, and NTPC, collaboration among EV makers, and Real estate developers deploying EV charging stations in their premises too will help to increase EV adoption. According to a report by NITI Ayog by 2030, the 2-wheeler and 3-wheeler will continue their dominance in the Indian market with 2-wheelers leading the charge with 65% market share.
As we have a better understanding of the Indian EV industry and its main market drivers, let us turn our attention to the EV charger market.t
Understanding the EV Charger Industry in India
So, before we get too further into this, let’s go through the fundamentals. Unlike petrol and diesel pumps, which have a common nozzle for all sorts of vehicles, electric vehicles have different types of chargers for different types of vehicles.
There are two types of electric vehicle chargers: AC chargers (onboard charging) and DC chargers (off-board charging).
AC chargers – AC chargers are normally used in slow-charging applications and are best suited for multiple installations like shopping complexes or workplaces. These charges take 6-8 hours to fully charge.
DC chargers – They are high-capacity chargers for fast charging and can charge vehicles in less than an hour, making them suitable for public EV charging stations inside cities and highways.
Apart from what has already been described, electric car chargers are further classified based on the charging guns used to charge the vehicle. Let us have a look at what they are:
AC Chargers
Level 1 AC Charger(Bharat AC-001): Has an output of 10kW with 3 connector guns of 3.3kW each at 230v. It is the cheapest among all available charging stations and it is suited when you can charge the vehicle overnight as it consumes a larger amount of time.
Type-2 AC Charger – This can be a slow charging application, The input power can manage between 3.3kW to 43Kw with a 400-volt AC supply. They are usually used both in residential and commercial charging stations and can also suit vehicles with CCS-2 plugs. It is the most commonly used charger in India.
DC Chargers
CCS or combined charging system plug(CCS1 & CCS2) – CCS-based chargers are fast chargers having a European background. It is quite common with new-age electric vehicles. It is used in four-wheelers and bus segments for high-capacity charging. CCS-type plugs are compatible with DC charging and are commonly used for public charging stations and can deliver power up to 350kw, the highest in the EV charging industry. CCS1 is widely used in North America whereas CCS2 is used in the EU and the rest of the market except China.
CHAdeMO Charger: Japan made the first attempt to come up with its own connector, known as “CHAdeMO”.It has a presence in over 70+ countries and can handle DC fast charging up to 62.5 kW. It can charge the electric vehicle in 30-40 minutes. DC fast chargers are usually used only in industry and commercial applications.
According to the India Energy Storage Alliance (IESA) report, as of 2021, Type-2 AC chargers account for approximately 85% of installed EV charger units in India, with 90% of use cases being with private charging (charging at homes and apartments) and is expected to maintain its dominance as it is primarily used by EV OEMs for the sale of passenger electric 4Ws and by PSUs for public charging stations. CCS2 chargers were used for captive charging (chargers installed in government offices and corporate buildings) for e-buses, as well as public charging stations set up by PSUs for fast charging to e-4Ws.
EV charger manufacturers in India are constantly changing due to the rapid growth of the industry. Let’s look at some of the top EV charger manufacturers in India
Market Share of Top EV Charger Manufacturers
Delta Electronics India: Have expertise in power technologies for more than 40 years. Offers various EV solutions to India including AC, DC fast chargers, and wall-mounted chargers. These chargers are appropriate for both household and commercial applications.
Tata Power: They are the biggest CPO of EV charging infrastructure in the country. The company has a presence across all the segments of the EV charging ecosystem will all types of chargers – DC 001, AC, Type 2, Fast DC chargers up to 50kw, and up to 240kw chargers for buses.
GO EC: GO EC offers a collective network of charging stations, which include all types of EV AC chargers (Type 1, Type 2) and DC chargers (CHAdeMO, CCS, GB/T connectors)
Charzer : It is a Bangalore-based startup. They provide low-cost, compact, and smart IoT-powered electric vehicle charging stations – Kirana Charzar. It is an affordable charging station compatible with electric cars, electric scooters, and electric autos. They are one of the top Type 1 AC charger manufacturers in India.
Magneta group – They are an Indian startup backed by Hindustan Petroleum Corporation Ltd(HPCL), shell, and Microsoft and are a leading EV charging solution provider. It offers a charge solution under the brand name Charge-Grid, the EV charging stations for homes, apartments, and commercial places,
Exicom Power Solutions – The company manufactures Bharat EV chargers and batteries. They provide all kinds of EV chargers including Level 1 AC slow charging, level 2 AC fast charging, and level 3 DC charging that can charge EVs ranging from 30kw to 150kW. The EV charger has 3-output connectors compatible with CHAdeMO, CSS2, and type 2AC
ABB India( ASEA Brown Boveri): A leading tech company in power grids, robotics, electrification products, transport, and infrastructure market for 130 years. The company mostly sells electric chargers in the form of cyberex digital single-phase and three-phase chargers, highway and en-route fast chargers among others. They have showcased a Terra HP fast charging system, which has the capacity to power up a car for 200 km on a single charge in just 8 minutes.
EVTeQ – EVTeQ is another startup that specializes in developing EV charging infrastructure. They offer a range of charging solutions, including AC chargers, DC fast chargers, and battery-swapping solutions. Their chargers are designed for both two-wheelers and four-wheelers.
ABB, Mass Tech, and Delta are the leading manufacturers of Level 2 EVSE (Electric Vehicle Supply Equipment), with type 2 AC chargers accounting for more than 80% of all installed chargers.
Cost Comparison of Different EV Chargers
The global optimal EV/public charger ratio is also about 6-20 EVs per public charger, but in India, it currently stands at an estimated 135 EVs/charger. This indicates a significant gap that has to be filled. The government has made it simple to set up an EV charging station in order to assist the growth of charging infrastructure in the country. Hence, depending on the type of charger to be placed, the typical cost of building an EV charging station might range from 2 lacks to 50 lacks.
DC chargers like CCS (European), CHAdeMO (Japanese), and Bharat DC -001 are typically more expensive than AC chargers like Type-2 AC and Bharat AC 001. The former two DC chargers with a combined power output of 50kW are likely to cost around Rs 15 lacks, while the Bharat DC charger with a power output of 15kW could cost under Rs 2.5 lacks. A Type-2 AC charger with 22kW power could cost roughly Rs 1.5 lakh, whereas a Bharat AC charger costs Rs 80 lakh.
Factors to Consider When Choosing an EV Charger
There are several factors to consider when purchasing an EV charger for your home or establishing a public charging station.
Area: The location of a charging business is important when deciding on the kind of charger to be installed. If you are looking to set up a charging station within the city or on highways, where there is a need for fast charging for long-range EVs and heavy vehicles, DC chargers (CCS or CHAdeMO) are helpful. However, if you are looking for a charging setup for large complexes, homes, or in a workspace, where there is no need to hurry in charging, a level 1 or level 2 (Type-2AC) AC charger is required, saving you money on the higher cost of DC chargers.
Type of EV to be charged: Fast chargers are typically utilized in vehicles with a large battery capacity and the ability to charge quickly. As a result, if you want to charge 2-wheelers and 3-wheeler EVs, purchasing a high-cost DC charger is unnecessary; instead, a moderate AC charge or, at most, a Level 1 (Bharat DC) charger would do.
Power Availability: Because DC chargers, particularly rapid chargers like CCS, have higher power output, fast chargers are preferable to be deployed in locations with higher power availability.
The cost of an EV charger: It is a significant consideration when making a decision. While some simple models may be less expensive initially, they may not have the power to charge many devices rapidly or be suited for long journeys.
Environmental Impact of EV Chargers
EV chargers not only provide convenience for electric vehicle drivers, but they can also help the environment. Globally, the transportation industry contributes to one-quarter of total CO2 emissions. At the same time, the transport sector accounts for 8% of total greenhouse gas emissions in India. As a result, the transition to electric vehicles is even more critical.
So let’s have a look at how EV charging affects the environment.
Everyone understands why the world is pushing towards electric vehicles by this point, so I won’t go into detail, but to summarize, the world is working towards EVs to reduce pollution caused by gasoline and diesel vehicles and to combat climate change.
Yet there is one thing we should be aware of: even as more EVs join the road, EV chargers continue to rely on fossil fuels for the majority of their electricity. As a result, it is critical to ensure that EV chargers are fueled by renewable energy sources. Only then will we be able to truly reduce global pollution, and the reason for switching to EVs will be fulfilled. Furthermore, EV batteries are made of elements such as nickel, lithium, cobalt, and other metals that require a lot of energy to mine. As a result, the creation of more and more batteries has an indirect adverse influence on the environment. So better technologies like battery recycling must be used, as the methods are still in their early phases.
The shift to EVs is unavoidable, but as previously noted, the move has some direct and indirect environmental repercussions that must be addressed in order to accomplish the aim of greener transportation.
Latest Developments in the Indian EV Charger Market
Because of the growing rise of EVs in India, various companies have begun to invest extensively in the research and development of new EV charging technologies. The following are some of the most recent advances in the Indian EV market:
FAME II scheme: The Indian government launched the FAME II (Faster Adoption and Manufacturing of Electric Vehicles in India) scheme in 2019 to provide incentives to manufacturers and buyers of electric vehicles. The scheme aims to boost the production and adoption of EVs in the country.
Infrastructure for charging: The Indian government has announced plans to build a network of charging stations around the country to encourage the use of electric vehicles. A number of commercial companies have already begun to establish charging stations in key cities. According to studies, India will require a whopping 20 lakh charging stations by 2030 to accommodate a massive 5 crore EVs by that time. Apart from OEMs, other parties such as government organizations, power distribution companies, DISCOMs, and real estate developers are assisting in the growth of charging stations.
Policy support: Numerous Indian state governments have implemented laws to encourage the usage of Policy support: Numerous Indian state governments have implemented measures to encourage the adoption of electric vehicles. For example, the Delhi government has eliminated EV road tax and offers rebates for EV buying.
More fast charging stations: While AC slow charging systems now dominate Indian EV charging, the government and private enterprises are investing in DC fast charging infrastructure as demand for long-range electric 4-wheelers grows. At the same time, the increased demand for 2-wheeler and 3-wheeler EVs would not weaken the market.
Future Outlook for the Indian EV Charger Industry
The Indian EV charger industry’s future prospects are quite promising. With increasing government initiatives to encourage electric vehicles and rising customer demand for EVs, the industry is likely to expand substantially in the next years.
The expansion of charging infrastructure and the Indian government’s push towards electric mobility will be major drivers of the EV industry in India. According to a joint report by the Indian Venture and Alternative Capital Association, Induslaw, and EY, the number of charging stations is estimated to rise to 100,000 by 2027 to meet the growing demand for approximately 1.4 million EVs on the road by then. As more people switch to EVs, the demand for charging infrastructure will only increase. With both the government and the business sector significantly investing in space, the industry is primed for tremendous expansion in the next years.
Conclusion
The electric vehicle market in India is rapidly growing, and with it, the demand for reliable and efficient EV chargers. As seen from our analysis, there are several top EV charger manufacturers in India that are leading the way in providing high-quality charging solutions to meet this demand.
With the Indian government’s ambitious plan to make India a 100% electric vehicle nation by 2030, the demand for EV chargers is only set to increase in the coming years. So from established players like Delta Electronics and ABB to newer entrants like Magenta Power are investing in advanced technologies and innovative solutions to provide EV owners with a seamless and hassle-free charging experience. As 2-wheeler and 3- wheelers still dominate the Indian market and with the entry of more EV 4-wheelers to the market, the charging infrastructure is expected to mix with slow and fast charging.
AC chargers now dominate the Indian market, with Type-2 AC chargers leading the pack. Nonetheless, DC chargers are gaining popularity because they require less charging time, and government initiatives such as FAME II programs and supportive policies to enhance charging infrastructure in the country will help to boost the Indian underpenetrated EV industry.
With the growth in pollution and negative impacts on climate, a transition to electric vehicles is highly needed, but how the shift occurs is something to consider. If the transformation occurs through unsustainable ways, there is no use in striving for better adoption. As a result, the transition to greener transportation should be both environmentally friendly and long-term.