- The electric vehicle communication controller is used for communication between electric vehicle and charger in order to rapidly charge the electric vehicle. The electric vehicle communication controller not only receives electricity from the electric vehicle supply equipment, it also works as the getaway for the mutual exchange of information between an external charger and the vehicle engine control unit (ECU).
- Several manufacturers are shifting toward self-charging of battery in hybrid cars, unlike other plug-in electric vehicles, because it does not require a power socket or overnight charging of the battery.
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Key Drivers of Global Electric Vehicle Communication Controller Market:
- Rising demand for electric vehicles in several countries across Asia Pacific including India, China, those in ASEAN, Japan, Italy, and South Africa, is likely to drive the demand for electric vehicle communication controller significantly across the globe
- The electrical vehicle communication controller is directly connected to electric and hybrid vehicles, since it enhances the charging performance of electric vehicles across the globe. Demand for electric vehicle communication controller is likely to rise due to an increase in production and usage of new electric vehicles. Advancements in electrical vehicles, their charging infrastructure and battery technology, owing to rising investments by automakers in electric vehicles, are likely to boost the electric vehicle communication controller market across the globe.
- Government support and initiatives toward electric vehicles in the form of reduction of tax rate and interest rate on vehicle loans are likely to boost the demand for electric vehicles and subsequently, propels the electric vehicle communication controller market
Electric Vehicle communication Controller Market to Offer Significant Opportunities
- Development of high-power batteries and evolution of fast charging technologies is anticipated to drive the electric vehicle communication controller market. Numerous manufacturers are developing self-charging battery systems that charge while driving hybrid vehicles. This features in the electric vehicles communication controller is expected to boost the demand for electric vehicles across the globe.
- The convenience of wireless charging and its safety and the use of vehicle to grid EV charging stations for electric vehicles are estimated to offer considerable opportunity for the electric vehicle communication controller market
Greenhouse Gas Emission to Hamper Market:
- The energy crisis and necessity to reduce greenhouse gas emissions have prompted vehicle manufacturers to make an effort to reduce the energy consumption of electric vehicles, and they are presently developing vehicles completely driven by electricity, which is likely to propel the demand for electric and hybrid vehicles. This, in turn, indirectly hampers the electric vehicle communication controller market across the globe.
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Asia Pacific to Hold Significant Share of Global Electric Vehicle Communication Controller Market:
- The automotive industry in China is expanding at a significant pace. China is projected to account for a prominent market share of the electric vehicles communication controller market in Asia Pacific due to the large electric vehicle fleet on road in the country.
- Several governments in Asia Pacific have introduced initiatives to reduce the tax rate on electric vehicles and enacted strict emissions norms in the region, which are likely to boost the demand for electric vehicles and subsequently, contribute to notable share held by the region in the global electric vehicle communication controller market.
Key Players Operating in Global Electric Vehicle Communication Controller Market:
The global electric vehicle communication controller market is highly fragmented due to the presence of top manufacturers from across the globe. A few key players operating in the global electric vehicle communication controller market are:
- LG INNOTEk
- Tesla
- Mitsubishi Electric
- Ficosa Corporation
- Efacec
- Engie
- Siemens
- ABB ltd.
- Vector
- Bosch
- Volta
- Schneider Electric
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