The sky is blue and rainclouds are gray are some of the first things children observe around them. But, present times seem to have destroyed this image, as regardless of whether it is cloudy or not, the skies are almost always gray. Because of the pollutant-laden haze enveloping major urban areas, the days seem dark and lifeless. As the biggest reason for this is the harmful emissions released from burning fossil fuels, such natural gas, crude oil, and coal, countries are taking concrete steps to limit their usage.
One of the ways this is being done is by unleashing stringent emission norms on petrol and diesel vehicles. In addition, governments in numerous countries, especially those in the extremely suffocating and polluted Asia-Pacific (APAC) region, are offering support to encourage the uptake of electric vehicles (EV). Countries are offering tax rebates and financial incentives to EV manufacturers and buyers, as well as investing in the requisite charging infrastructure. It is these factors that P&S Intelligence deems important for the growth of the electric vehicle communication controller (EVCC) market in the years to come.
As per the market research firm, the revenue generated from the sale of EVCCs is expected to increase from $97.0 million in 2018 to $553.4 million by 2024, at a 34.8% CAGR between 2019 and 2024. The EVCC is a component which establishes the connection and communication between the electric vehicle supply equipment (EVSE), more commonly known as a charging station, and the EV. It essentially relays the information back and forth between the external charging station and the electronic control unit (ECU) of the battery.
There are two types of EVCCs: one, which is itself called EVCC, and the supply equipment communication controller (SECC). While the EVCC communicates between the EVSE and EV, the SECC establishes communication between the charging station and the electricity provider, EVSE deployer or manufacturer, and even mobility service provider. So, in essence, the EVCC is embedded in the EV, while the SECC is integrated in the EVSE. Of these, EVCCs have witnessed higher installation rate, simply because the sale of EVs has been picking up fast.
As noted in the previous paragraphs, governments of numerous countries are stepping up efforts to increase the number of EVs on the roads. Among them is the federal government of the U.S., which is offering a tax credit of $2,500–$7,500 on the purchase of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Similarly, Norwegians do not have to pay the 25% value-added tax on buying EVs. In addition, EV owners in the country are exempt from tolls as well as enjoy free ferry rides and parking.
Sadly, the state of the charging infrastructure currently doesn’t mirror the progress that EVs have witnessed in their sales, with the number of charging stations deployed not enough to really speed up EV sales. This is why several countries have now taken up the initiatives to install EVSE, which would, in the years to come, result in a rapidly rising sale of SECCs. From 2017, the number of charging stations in operation in 2018 rose by 105,360.
So, as the sale of EVs, as well as the installation rate of charging stations, increase, courtesy government measures and consumers become more aware on the disadvantages of diesel- and petrol-fueled vehicles, the demand for EVCCs is set to rise massively.
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