Electric Vehicle Charging Station Market in India: 2026 Report

Executive Summary

The Indian electric vehicle (EV) charging station market is experiencing rapid growth, driven by government initiatives, increasing EV adoption, and infrastructure expansion. As of early 2026, the market is valued at approximately USD 0.6-0.7 billion, with projections indicating significant expansion through 2030 and beyond. Key factors include supportive policies like the PM E-DRIVE scheme, which aims to install over 72,000 public chargers by March 2026, and rising private sector investments. The number of public EV charging stations has surpassed 27,000 nationwide, with a focus on urban centers and highways. Challenges such as high installation costs and grid strain persist, but technological advancements and subsidies are mitigating these. The market is expected to grow at a CAGR of 27-31% from 2026 onwards, reaching USD 2-3 billion by 2030.

 

Market Size and Forecast

The Indian EV charging station market was valued at around USD 0.59 billion in 2025, up from USD 0.44-0.49 billion in 2024. In 2026, the market is projected to reach USD 0.7-0.8 billion, reflecting robust year-over-year growth. Forecasts vary by source, but consensus points to a CAGR of 27-31% through 2030, driven by EV sales surging to over 2.5 million units annually by then.

Variations in estimates stem from differing scopes (e.g., equipment vs. full infrastructure) and assumptions on EV penetration.

 

Current Infrastructure Status

As of February 2026, India has over 27,000 public EV charging stations, including more than 8,900 under the FAME-II scheme and 18,500+ funded by oil companies.

This marks a significant increase from 25,000 in October 2025. Stations are spread across 849 cities, with Maharashtra leading at ~2,681. Approximately 85% are slow chargers (AC up to 22 kW), suitable for two-wheelers and three-wheelers, while 15% are fast DC chargers. Private operators like Adani TotalEnergies manage 3,800+ points across 26 states.

Growth Drivers

• Government Policies: The PM E-DRIVE scheme (INR 10,900 crore budget through 2026) supports 72,000+ chargers, including 22,100 for four-wheelers.
• FAME-II and state EV policies offer subsidies up to 80% for infrastructure.
• EV Adoption Surge: EV sales reached 2.2 million units by January 2026 under PM E-DRIVE, with electric cars up 77% in 2025.
• Two-wheelers and three-wheelers dominate, achieving TCO breakeven at low daily mileage.
• Private Investments: Partnerships like IOCL-Sun Mobility and BPCL-VoltUp are expanding networks.
• Declining charger prices signal market maturity.
• Environmental and Urban Factors: Rising fuel costs, urbanization, and net-zero goals (e.g., 30% EV fleet by 2030) boost demand.
• CO2 reductions projected at 28 million tonnes by 2030.
• Technological Advancements: Battery swapping (1,000+ stations) and smart charging reduce range anxiety.

 

Challenges

• Infrastructure Gaps: Low utilization (7-25%) and grid demand (10-15 GW by 2030) require upgrades.
• High Costs: Setup expenses and land acquisition hinder expansion; subsidies help but are limited.
• Standardization Issues: Multiple connector types and tariffs (Rs. 3.80-10/unit) vary by state.
• Regional Disparities: Uneven deployment, with some states/UTs lacking policies or chargers.

 

Key Players

Major operators include Tata Power, Ather Energy, Adani TotalEnergies, Statiq, ChargePoint, and oil majors like IOCL, BPCL, and HPCL. Public entities operate ~4,280 stations, while private firms handle ~5,900. Emerging players focus on battery swapping (e.g., Sun Mobility, Battery Smart).

 

Future Outlook

By 2030, India may need 375,000-1.32 million chargers to support 9 crore EVs, with public stations at ~81,000 and captive/depot at ~8,000. Focus will shift to fast chargers, solar integration, and V2G technology. With continued policy support and investments, the market could contribute to 50 million jobs and significant emission reductions. Recommendations: Prioritize highway corridors, standardize tariffs, and leverage renewables for sustainable growth.