EV charger demand expected to grow at 65%: CAGR
According to the report titled "
India Electric Vehicle
Charging Infrastructure & Battery Swapping Market Overview," the market for EV chargers in India is anticipated to grow at an impressive CAGR of 65% between 2022 and 2030 to reach annual sales of 3 million units. This will be necessary to meet the demand for chargers to support the national EV scenario (NEV) by 2030.According to the statement, both private and public investments will fuel the need.
The CEO of Customised Energy Solutions India and the founder and president of IESA, Rahul Walawalkar, stated that "India's electric revolution is gathering steam at an incredible rate. As a result of public policies and commercial investments, we are moving closer to a day when electric vehicles are safe and widely available."
Due to tenders announced by PSUs like Convergence Energy Services Limited (CESL), NTPC Vidyut Vyapar Nigam Ltd, Indian Oil Corporation Limited (IOCL), and Kerala State Electricity Board (KSEB), which are anticipated to add roughly 6,000 charging stations by 2023, the demand for EV chargers in India increased in 2022.