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Global Electric Vehicle Power Inverter Market : Size, Share, Growth & Top Companies Analysis

global electric vehicle power inverter market size share growth top companies analysis

Global Electric Vehi

iCrowdNewswire   Feb 3, 2021  7:00 AM ET

Global Electric Vehicle Power Inverter Market

Electric Vehicle Power Inverter is defined as electrical device which converts DC (direct current) source to alternating current (AC) and it is used in electric vehicle motor. There are various types of inverters that are used in electric vehicles including traction inverter, and soft switching inverter. These inverters help to generate very high current during the time of switching the engine as generated voltage & input voltage. Factors like the huge amount of domestic automakers & the consolidation of prominent battery makers are expected to contribute the electric vehicle power inverter market growth.

The increase in efforts being taken by OEMs for developing & introducing electric vehicles on the road is expected to drive the global electric vehicle power inverter market growth over the forecast period. The growing government support from various countries across the globe for the production of electric vehicles is expected to boost the global electric vehicle power inverter market during this forecast period. The increase in technological advancements in the field of power electronics like the development of high power density inverters is anticipated to fuel the target market growth in near future.

A Power inverter is one of the important components in electric vehicle which converts direct current into alternating current for electric motor. The rise in concern among the automakers to optimize energy consumption in electric vehicles, the inverter manufacturers enhanced capabilities to handle energy from both sources such as battery and motor. The growing incorporation of inverters operating on an AC power source in electric vehicles by key vehicle manufacturers like Tesla is anticipated to accelerate the electric vehicle power inverter market during the forecast period.

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The high current can be a major restraint to big motors which are used in heavy electric vehicles, which may hamper the global electric vehicle power inverter market growth during this forecast timeline. 

Regional Analysis

The APAC is expected to hold the largest market share in electric vehicle power inverter market followed by Europe & North America respectively. The sale of electric vehicles in China is growing rapidly around 1.3 million new electric vehicles were sold in the year 2018. Also, North America and Europe held significant market share due to the presence of major automobile companies as well as continuous technological advancements in the automobile industry in this region.

Market Key Players

Some key operating players are listed in Global Electric Vehicle Power Inverter Market report including Continental AG, Robert Bosch GmbH, Toyota Industries Corporation, Valeo Group, DENSO Corporation, Aptiv PLC, Meidensha Corporation, Hitachi Automotive Systems Ltd, Calsonic Kansei Corporation (Marelli Corporation), Mitsubishi Electric Corporation, etc.

Market Taxonomy

By Propulsion

  • Full Hybrid Vehicle
  • Plug-In Hybrid Vehicle
  • Battery Electric Vehicle

By Vehicle

  • Passenger car
  • Commercial vehicle

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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