EV Charging Communication Unit Market Size is valued at USD 123.59 Mn in 2022 and is predicted to reach USD 1,068.88 Mn by the year 2031 at a 27.20% CAGR during the forecast period for 2023-2031.
Electric vehicles (EVs) and charging stations can communicate using a charging communication unit (CCU) device. Information about the charging session's cost, the rate of charging, and the battery level of the EV are all sent and received by the CCU between the EV and the charging station. The CCU is also responsible for making sure the charging procedure is safe. You may find the CCU beside the charging port on most electric vehicles. To guarantee safe, efficient, and convenient electric vehicle (EV) charging, a crucial component of the charging infrastructure is the control and communication unit (CCU), a tiny electronic device with a microprocessor, memory, and communication ports. The CCU communicates with the charging station using various protocols, including the Open Charge Point Protocol (OCPP) and the ISO protocol.
Furthermore, the widespread development of charging infrastructure worldwide has attracted substantial investments and expanded the reach of the market. Quicker charging speeds, better connectivity, and standardized charging protocols are anticipated technological improvements shaping the market. This expansion trajectory is only possible with government policies, incentives, and grants encouraging investing in EVs and building charging infrastructure.
However, the market growth is hampered by the strict regulatory criteria for the safety and health of EV charging communication units and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high humidity. Electric vehicle charging stations can be costly to build and operate, especially in low-traffic or power-limited areas. The initial investment required to set up a charging station is high due to the equipment, installation, and electrical infrastructure upgrades. In some cases, upgrading the electricity supply and installing the necessary infrastructure, like high-power transformers or cabling, can be extremely high, especially in remote areas without the necessary grid infrastructure. The COVID-19 pandemic has dampened worldwide demand for electric vehicle charging stations. Pandemic travel restrictions and tight lockdown measures throughout different regions caused people to delay buying electric vehicles.
Competitive Landscape
Some Major Key Players In The EV Charging Communication Unit Market:
- Akka Technologies
- Auto Motive Power (AMP) (Ford)
- Continental AG
- Dana Limited
- Ficosa Internacional SA
- Hyundai Mobis
- LG Innotek
- Mitsubishi Electric Corporation
- Neusoft Corporation
- Qualcomm Technologies, Inc.
- Robert Bosch GmbH
- Sensata Technologies, Inc.
- STMicroelectronics N.V.
- Vector Informatik GmbH
- Vitesco Technologies GmbH
- Tesla
- BYD Auto
- Schneider Electric
- ABB
- Vector
- Siemens
- Engie
- Mitsubishi Electric
- Wallbox
- Heliox
- Spark Horizon
- Leviton
- Blink Charging
- Clippercreek
- Others
Market Segmentation:
The EV charging communication unit market is segmented based on vehicle, propulsion, charging, current, component, and system types. As per the vehicle type, the market is segmented into passenger vehicles and commercial vehicles. By propulsion type, the market is segmented into battery electric vehicles, plug-in hybrid electric vehicles (PHEV). By charging type, the market is segmented into wired (plug-in) and wireless (inductive charging). By current type, the market is segmented into alternating current (AC) and direct current (DC). By component type, the market is segmented into software and hardware. By System Type, the market is segmented into electric vehicle communication controller (EVCC) and supply equipment communication controller (SECC).
Based On The Charging Type, The Wired Segment Is A Major Contributor To The EV Charging Communication Unit Market.
The wired EV charging communication unit market will lead with a major global market share in 2022 because of the growing need for fast charging. This need calls for a standardized protocol for communication between EVSEs and vehicle electronic control units (ECUs). Fast charging is in high demand, which is driving the market forward.
Electric Vehicle Communication Controller Segment To Witness Growth At A Rapid Rate.
The electric vehicle communication controller industry makes up the bulk of EV charging communication unit usage. Because of its crucial role in enabling communication and data interchange between charging infrastructure and electric vehicles (EVs), the EVCC has become an integral part of the rapidly expanding electric vehicle (EV) market. Improved charging management, secure authentication, simplified billing, and possible V2G connection are all made possible by this technology, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American EV Charging Communication Unit Market Holds A Significant Revenue Share.
The North American EV charging communication unit market is expected to record the maximum market share in revenue in the near future. It can be attributed to the increasing amount of financing and strategic initiatives aimed at improving the infrastructure for electric car charging stations, the increasing number of government programs aimed at improving this infrastructure, and the fast adoption of EVs. In addition, Asia Pacific is estimated to grow rapidly in the global EV charging communication unit market because of the increasing emphasis on charging infrastructure. Many innovative charging solutions have been developed by start-ups and established multinational firms, driving market growth. Several regional governments are prioritizing expanding charging infrastructure, which bodes well for the sector's future.
Recent Developments:
- In Nov 2023, Ford Motor Company formally declared the acquisition of Auto Motive Power (AMP), a energy solutions provider. Ford incorporated AMP's sophisticated charging technology to optimize the electric charging infrastructure and battery management systems for its electric vehicle fleet.
- In Oct 2023, LG Innotek emerged as a global leader in the field of electric vehicle charging. The company is acknowledged in the industry for its important international standards-based patents on EV charger components. LG Innotek obtained patents for crucial electric vehicle (EV) and autonomous driving technologies.
EV Charging Communication Unit Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 123.59 Mn |
|
Revenue Forecast In 2031 |
USD 1,068.88 Mn |
|
Growth Rate CAGR |
CAGR of 27.20 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Mn, Volume (Units) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Vehicle Type, By Propulsion Type, By Charging Type, By Current Type, By Component Type, By System Type |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Akka Technologies, Auto Motive Power (AMP), Continental AG, Dana Limited, Ficosa Internacional SA, Hyundai Mobis, LG Innotek, Mitsubishi Electric Corporation, Neusoft Corporation, Qualcomm Technologies, Inc., Robert Bosch GmbH, Sensata Technologies, Inc., STMicroelectronics NV, Vector Informatik GmbH, Vitesco Technologies GmbH, Tesla, BYD Auto, Schneider Electric, ABB, Vector, Siemens, Engie, Mitsubishi Electric, Wallbox, Heliox, Spark Horizon, Leviton, Blink Charging, Clippercreek and Other |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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