Market Overview:
The global Electric Vehicle Communication Controller (EVCC) market size was calculated at USD 61.1 million in 2019 and is envisioned to garner a CAGR of 32.5% from 2020 to 2026.
The vehicle communication controller not only collects electricity from the electric vehicle supply equipment (EVSE), it also works because the getaway to exchange the knowledge between the vehicle ECU and external charger. The various manufacturers are shifting toward the self-charging of the battery within the hybrid cars, unlike the opposite plug-in electric vehicle it doesn't require the facility socket or the overnight charging of the battery. The electric vehicle communication controller has observed fast evolution with ongoing growth within the electric vehicles, charging infrastructure, and battery technology.
Major factors liable for the expansion of the market are the rise within the adoption of electrical vehicles (EV) and on-going work for the events of electrical Vehicle Supply Equipment with a serious specialize in fast-charging solutions. Market expansion is further speed up by increasing Public-Private Partnerships (PPP) for the event of charging stations. The government is alliancing with primary Equipment Manufacturers (OEMs) and automotive developers for the development of fast-charging stations, which is predicted to extend the demand for EVCC Market.
Recent Developments:
Drivers and Restraints of Electric Vehicle Communication Controller Market:
Drivers:
The growth of the global electric vehicle communication controller market is primarily driven by the growing production and consumption of the new electric vehicle. The development within the electric vehicle technology all at once with the rising investment of the automakers within the electric vehicle is likely to drive demand for the electrical vehicle communication controller market. The government support and initiative towards the electrical vehicle, by reducing the rate and rate of interest on the vehicle loan is probably going to spice up the demand for the electrical al vehicle, and it straightly impacts the electric vehicle communication controller market. The expecting energy crisis and the necessity to scale back greenhouse emissions have led vehicle manufacturers to form a really significant effort to scale back the energy consumption of their vehicles and they are presently developing vehicles completely or partly driven by electricity, which is probably going to propel the demand for the electrical al and hybrid vehicles, and it somehow affect the global electric vehicle communication controller market in future.
Restraints:
Insufficiency of standardization in charging infrastructure is probably going to challenge the expansion of electric vehicle communication controller market. The strict rules and regulations concerning the installation of charging stations might obstruct the electrical vehicle communication controller market growth.
Market Segmentation:
By Application:
• Passenger Vehicle
• Commercial Vehicle
The passenger vehicle segment accounted for the most important share within the market in 2019, as a result of rising sales of these vehicles. This is often due to the supply of monetary subsidies and incentives offered by various governments. Moreover, various automotive manufacturers like BMW AG, Ford Motor Company, and General Motors are providing chargers alongside electric cars, which has driven the demand for EVCC Market. However, increasing emphasis on automotive developers on the installation of EV charging stations for his or her employees to boost awareness about electric cars has fueled interest.
By Vehicle Type:
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
The market within the BEVs category is predicted to achieve faster growth during the outlook period. The market in this category is often driven by stringent environment norms and policies supporting the adoption of BEVs. Such factors will also drive the expansion of the electric vehicle communication controller market. EVCC held huge volume share within the market in 2018, due to the rising sales of plug-in electric vehicles (PEVs). A complete of two million PEVs were sold in 2018, marking 64% growth in sales calculated in 2017. Globally, the sales of those vehicles are driven by their increasing production and government support within the sort of subsidies and incentives to customers for the acquisition of those vehicles.
By Charging Type:
• Wired Charging
• Wireless Charging
By charging types, wired charging was the biggest category, in terms of sales volume, within the electric vehicle communication controller market. This is often attributed to the low price and early adoption of conductive chargers for private vehicles across the planet.
By System:
• Vehicle-Based Communication Controller
• Supply Equipment Communication Controller (SECC)
The Supply equipment segment is predicted to register the best CAGR over the outlook period due to the surge in demand for advanced charging stations like EV charging kiosks. In a charging kiosk, EVCC is employed for the authentication of the Vehicle number (VID) and access card information.
Electric Vehicle Communication Controller Market Region-wise analysis:
Marked Segmentation based on the region:
a. Middle East
b. Africa
Based on regions, the Europe electric vehicle communication controller market is predicted to record the fastest growth over the projection period, due to the increasing adoption of electric vehicles and related charging stations within the area. Moreover, in Europe, the plug-in electric vehicle market stood at around 384,000 units in 2018, recording a nearly 33% increase in sales from 2017. Of the entire units, 201,280 were battery-electric cars and 182,760 were plug-in hybrid electric cars. Hence, increasing the adoption of electric vehicles and their charging stations is driving the demand for electric vehicle communication controllers within the region. Asia-Pacific had the most significant share within the electric vehicle communication controller market in 2018. This is ascribed to the high adoption of electric vehicles and the installation of related charging stations in China in recent years. Growing environmental concerns, increasing government support within the sort of subsidies for electric vehicles and related charging stations, and reducing total cost of ownership (TCO) is driving the demand for electric vehicles, which successively, is positively affecting the expansion of the market in the area.
Key Players of Market:
Key players operating in the global electric vehicle communication controller market are LG Innotek Co. Ltd., Tesla Inc., BYD Co. Ltd., Schneider Electric SE, ABB Ltd., Ficosa International SA, Robert Bosch GmbH, Vector Informatik GmbH, Siemens AG, and Mitsubishi Electric Corporation.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Electric Vehicle Communication Controller Market, By System
6.1.1 Vehicle Based Communication Controller
6.1.2 Supply Equipment Communication Controller
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Electric Vehicle Communication Controller Market, By Charging Type
6.2.1 Wired Charging
6.2.2 Wireless Charging
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Electric Vehicle Communication Controller Market, By Vehicle Type
6.3.1 Battery Electric Vehicle
6.3.2 Plug-In Hybrid Electric Vehicle
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Electric Vehicle Communication Controller Market, By Application
6.4.1 Passenger Vehicle
6.4.2 Commercial Vehicle
6.4.3 Market Size Estimations & Forecasts (2019-2024)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By System
7.2.3 By Charging Type
7.2.4 By Vehicle Type
7.2.5 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By System
7.3.3 By Charging Type
7.3.4 By Vehicle Type
7.3.5 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By System
7.4.3 By Charging Type
7.4.4 By Vehicle Type
7.4.5 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By System
7.5.3 By Charging Type
7.5.4 By Vehicle Type
7.5.5 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By System
7.6.3 By Charging Type
7.6.4 By Vehicle Type
7.6.5 By Application
8. Key Player Analysis
8.1 LG Innotek Co. Ltd
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Tesla Inc
8.3 BYD Co. Ltd
8.4 Schneider Electric SE
8.5 ABB Ltd
8.6 Ficosa International SA
8.7 Robert Bosch GmbH
8.8 Vector Informatik GmbH
8.9 Siemens AG
8.10 Mitsubishi Electric Corporation
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
