LG Innotek (South Korea) and ABB (Switzerland) are the Leading Players in the Electric Vehicle Communication Controller Market
The global electric vehicle communication controller (EVCC) market is projected to reach USD 563 million by 2027 from an estimated USD 55 million in 2019, at a CAGR of 33.8%. The base year for the report is 2018, and the forecast period is 2019 to 2027. The growing concerns of various government bodies about a cleaner environment have increased the demand for zero-emission vehicles, which in turn is driving the electrification of vehicles. The increasing demand for electric vehicles will, in turn, fuel the growth of components such as electric vehicle communication controller (EVCC) that helps to normalize the current flowing from the charger to electric vehicle. EVCC communicates with the supply equipment communication controller (SECC) on the charger. EVCC has witnessed rapid evolution with ongoing developments in electric vehicles, battery technology, and charging infrastructure.
The EVCC market is dominated by globally established players such as LG Innotek (South Korea), ABB (Switzerland), Ficosa (Spain), Siemens (Germany), Tesla (US), ENGIE (France), and BYD (China). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth electric vehicle communication controller market.
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Europe is home to most of the global leaders in the electric vehicle communication controller market such as Schneider Electric (France), ABB (Switzerland), Ficosa (Spain), Bosch (Germany), Siemens (Germany), Efecec (Portugal), and Engie (France).
LG Innotek, headquartered in South Korea, is one of the leading players in this market. In November 2018, LG Innotek developed the V2X Full Module for connected cars and autonomous vehicles. In addition to having the wireless communication ability enough for commercialization, this device can be equipped into any part of a vehicle because of its excellent durability and minimized size, enhanced from the 1st generation models. V2X helps in the sharing of information such as traffic conditions between vehicles, vehicle and infrastructure, and vehicle and pedestrians. The core element for providing all the communication functions is the V2X module.
Tesla is another leading player, followed by BYD Auto, Schneider Electric, and ABB. In March 2019, Tesla unveiled V3 Supercharging, the next step in the growth of Tesla’s Supercharger network. V3, which is born from Tesla’s world’s largest grid-connected batteries, enables vehicles to charge faster than any other electric vehicle in the market today. In December 2018, a new supercharger from Efacec, of the FastCharge network, set a new record in recharging electric vehicle batteries. It increased the range of a Porsche Taycan by 100 km in just 3 minutes.
Schneider Electric (France) is another important player in the industry. Schneider Electric specializes in providing energy management and automation solutions. It is a global leader of products in a variety of technologies including building automation, industrial automation, energy distribution, low voltage products, and energy storage systems. The company offers EV charging systems under the electric vehicle charging segment. The company’s product portfolio includes fast chargers and wallbox chargers for residential and outdoor applications. In April 2018, Schneider Electric released wall-mounted chargers suitable for homes and businesses. The Schneider Electric EVlink Smart Wallbox comes in various sizes of electrical wattage output – from 3.4 kW to 22kW – and can work on a single-phase or three-phase electrical supply, offering significant advantages in recharging capacity compared to a normal general power outlet. The smart wallbox charging station has advanced features such as user authentication, billing and report generation, and remote maintenance. The company has strong presence in all the regions, especially Asia Pacific with the highest revenue share of the total revenue.
Related Reports:
Electric Vehicle Communication Controller Market by System (EVCC and SECC), Charging Type (Wired and Wireless), Electric Vehicle Type (BEV and PHEV), Vehicle Type (Passenger Car and Commercial Vehicle), Region - Global Forecast to 2027
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