Increased emphasis on reduction in carbon emission is expected to boost the usage of electric 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.
New York, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electric Vehicle Communication Controller Market by System, Charging Type, Electric Vehicle Type, Vehicle Type, Region - Global Forecast to 2027" - https://www.reportlinker.com/p05797721/?utm_source=GNW
EVCC communicates with the supply equipment communication controller (SECC) on the charger.
Growth of e-commerce, logistics, and electrification of public transport is likely to propel the growth of commercial vehicle segment during the forecast period
The commercial vehicle is the fastest growing segment of the EVCC market.The market for EVCC is expected to grow significantly in the commercial vehicle segment as these vehicles are used for transporting and delivering heavy loads over long distance and require high range and reliability.
EVCC will play a crucial role in these vehicles as it will help in fast charging of the vehicle.Increasing sales of electric buses, particularly in China, has contributed to the growth of the electric bus segment.
In the near future, several countries are expected to replace their existing fuel-based bus fleet with electric buses. The increasing trend of replacement of fossil fuel-based public transport fleet with electric buses will drive the growth of electric commercial vehicles during the forecast period.
Asia Pacific market is expected to register the highest growth during the forecast period
The Asia Pacific market is expected to witness the highest growth, followed by North America and Europe.It is also estimated to be the largest market during the forecast period.
Market experts predict EVs would account for the largest market share in China by 2025, which would drive the growth of the Asia Pacific market.China is estimated to be the largest market in the region.
The increasing popularity of compact EVs will propel the market for EVCC in the future.
North America is expected to be the second-largest market during the forecast period
North America is expected to be the second-largest market, followed by Europe.It comprises developed countries such as the US and Canada.
North America is a regional hub for many renowned OEMs known for delivering quality and high-performance vehicles.OEMs in North America such as Tesla and GM focus on the development of faster, cleaner, and high-performance electric vehicles.
The US holds the largest market share in the North American electric vehicle sales.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: Tier I - 36%, Tier II - 39%, and Tier III - 25%,
• By Designation: C Level - 33%, D Level - 47%, and Others - 20%
• By Region: North America - 31%, Europe - 36%, and Asia Pacific - 33%
The electric vehicle communication controller market comprises major manufacturers such as LG Innotek (South Korea), Tesla (US), BYD Auto (China), Schnider Electric (France), and ABB (Switzerland).
The market study covers the electric vehicle communication controller market across segments.It aims to estimate the market size and future growth potential of this market across different segments such as vehicle type, system type, electric vehicle type, charging type, and region.
The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric vehicle communication controller market and the subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05797721/?utm_source=GNW
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