The global electric vehicle communication controller (EVCC) market size is expected to reach USD 436.5 million by 2026, registering a CAGR of 32.5% from 2020 to 2026, according to a new report by Grand View Research, Inc. The market is driven by increasing adoption of electric vehicles (EV) and advancements in charging solutions. Prominent companies in the market, including Tesla, Inc. and LG INNOTEK, are focusing on development of advanced charging technology. Furthermore, rising demand for fast charging technology is fueling market growth.
On-going
developments in wireless charging technology for EVs and associated safety
concerns are significantly contributing to the growing demand for EVCC. Various
Original Equipment Manufacturers (OEMs) and automotive manufacturers have
established partnerships for the development of EVCC and incorporating EVCC in
wireless charging technology. For instance, Enide, AB Volvo, Continental AG,
and HELLA GmbH & Co. KGaA have collaborated on the UNPLUGGED project aimed
at development of wireless charging technology. Rise in the number of EVs is
fueling the demand for Vehicle-to-Grid (V2G) technology, through which the
automobiles can recharge their battery and simultaneously send back electric
energy into the grid, when there is a surge in demand. Increasing adoption of
EVCC in the development of V2G technology is accelerating market growth.
Governments
in countries such as U.S., China, and Germany are collaborating with various
academic institutions such as Sandia National Laboratories and the University
of Delaware for the development of V2G technology. Furthermore, the growing
Public-Private Partnerships for the development of EVCC are expected to propel
the market. In May 2012, the University of Delaware, Exelon Corporation,
various OMEs, and the U.S. government established the Mid-Atlantic Grid
Interactive Car Consortium (MAGICC) that focused on the development of EVCC for
V2G. The MAGICC project was funded USD 200,000 by the Delaware Green Energy
fund, USD 250,000 by Exelon Corporation, and USD 150,000 from Google LLC for
R&D.
Full Research Report On Electric Vehicle Communication Controller Market Visit Here:
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Further key
findings from the report suggest:
- The Supply Equipment
Communication Controller (SECC) communication controller segment is
expected to grow significantly owing to rising need for safety while
ensuring fast charging
- The wireless charging
technology segment is anticipated to register the highest CAGR over the
forecast period owing to numerous benefits offered, such as full autonomy
and convenience for EV passengers
- The Battery Electric Vehicle
(BEV) segment is anticipated to grow significantly over the next few years
owing to growing initiatives by OEMs toward the development of EVCC for
charging stations in cities
- The commercial segment is
expected to grow remarkably over the forecast period owing to rise in the
adoption of EVCC in the fleet of logistic and public transport agencies
- The Asia Pacific market is
expected to grow significantly over the forecast period owing to
increasing national standards for EV charging interfaces and
communications protocols set by the National Energy Administration, China
- Key players in the electric
vehicle communication controller market are ABB, Ltd.; BYD Auto; Efacec;
Ficosa; LG INNOTEK; Mitsubishi Electric; Robert Bosch LLC; Schneider
Electric; Tesla, Inc.; and Vector.
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Grand View Research has segmented
the electric vehicle communication controller market based on system, charging
type, electric vehicle type, application, and region:
EVCC System Outlook
(Revenue, USD Thousand, 2015 - 2026)
- Vehicle Based Communication
Controller
- Supply Equipment
Communication Controller (SECC)
EVCC Charging Type
Outlook (Revenue, USD Thousand, 2015 - 2026)
- Wired Charging
- Wireless Charging
EVCC Electric
Vehicle Type Outlook (Revenue, USD Thousand, 2015 - 2026)
- Battery Electric Vehicle
(BEV)
- Plug-In Hybrid Electric
Vehicle (PHEV)
EVCC Application
Outlook (Revenue, USD Thousand, 2015 - 2026)
- Passenger Vehicle
- Commercial Vehicle
EVCC Regional
Outlook (Revenue, USD Thousand, 2015 - 2026)
- North America
- U.S.
- Canada
- Europe
- Netherlands
- U.K.
- France
- Norway
- Germany
- Asia Pacific
- China
- Japan
- South Korea
- Latin America
- Brazil
- Middle East & Africa
(MEA)
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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