Electric Vehicle Communication Controller (EVCC) Market to Value over $550.0 Million by 2024 | Top Players are LG Innotek Co. Ltd., BYD Co. Ltd., Tesla Inc., Schneider Electric SE, Ficosa International SA, ABB Ltd., Robert Bosch GmbH, Siemens AG, Vector I

The electric vehicle communication controller (EVCC) market is predicted to grow, from $97.0 million in 2018 to $553.4 million in 2024, at a CAGR of 34.8% during the forecast period (2019-2024). EVCC is responsible for establishing the communication between the electronic control unit (ECU) and the EVSE, hence extremely important in EVs. The EVCC is generally available for battery EVs (BEV) and hybrid EVs (HEV); during 2014-2018, BEVs accounted for the higher installation rate of these components because of their higher sales, as these are completely emission-free.

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Across the world, governments are urging automakers to increase the production of EVs and also install the charging infrastructure. For both these purposes, tax exemptions and subsidies are being offered in numerous countries. Further, the government in several nations, such as Japan and China, is also providing heavy funding for research and development (R&D), aimed at creating efficient and smart EVSE. For instance, the Australian Renewable Energy Agency (ARENA) provided $6 million to Chargefox Pty. Ltd., in October 2018, for installing EV charging stations across the nation.

With technological innovations, the problem of two-way electricity demand management seems to have a solution. The development of the vehicle-to-grid (V2G) technology is being pursued to make the transmission network more efficient. In the wake of a rising number of EVs, grids would face overloading issues, when multiple vehicles would be charged at the same time. Via the V2G technology, electricity can be supplied from the vehicle to the grid, as required, thereby reducing the load on the power transmission infrastructure.

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To meet the rising demand for charging infrastructure, several EV manufacturers and EVSE integrators are entering into collaborations. For instance, MG Motors India Pvt. Ltd. and Fortum Corp. entered into a partnership in July 2019 to install direct current (DC) fast-charging stations, rated at 50 kilowatts, in India. Under the terms of the agreement, Fortum Corp. will install these stations at the showrooms of MG Motors in Bengaluru, Hyderabad,Delhi/NCR, Ahmedabad,and Mumbai.

Around the world, Asia-Pacific (APAC) accounted for the highest integration rate of EVCCs in EVs, during the historical period. This was a direct result of the high sale of clean-energy vehicles and installation of charging stations in the region, primarily in China. This is the reason that in APAC, the electric vehicle communication controller market in China was historically the largest. Extreme pollution levels, government support and strict emission reduction policies, and reducing cost of ownership are driving the EV sales in the region. In the coming years, the industry would progress the fastest in Europe, owing to the increasing EV sales and charging station integration.

Hence, as more people purchase EVs, in a bid to keep the environment as clean as possible, the integration of EVCCs will also increase around the world.

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