The electric vehicle power inverter (EVPI) provides full load recharging and inversion of AC and DC loads. This allows the EVPI to be used at home or at a public charger, and can charge multiple battery types. The EVPI is also very easy to install. It has many features, including automatic voltage regulation and battery monitoring. EVPI manufacturers must comply with US Department of Energy's target efficiency standards. These goals are only attainable with advanced semiconductor technology. In fact, one recent study found that EVPI manufacturers can increase their EV's range by up to 6 percent. It also reduces their size by 40% and adds a 10% fuel efficiency boost.
Market Dynamics:
The rise in sales of PHEVs and BEVs along with reduction in cost of inverter components resulting from advancements in materials as well as packaging arrangements is expected to propel growth of the global electric vehicle power inverter market during the forecast period. Furthermore, due to the high cost of batteries the advancements in inverters as well as other power electronics to improve the performance of vehicles are increasing. For instance, as per the data of the International Energy Agency, nearly 1.8 million electric vehicles were registered in the U.S. by 2020, which is a three times more than as many as in 2016.
However, factors such as lack of charging infrastructure and high cost of electric vehicles are expected to hinder the market growth.
Key features of the study:
- This report provides in-depth analysis of the global electric vehicle power inverter market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global electric vehicle power inverter market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Vitesco Technologies, Robert Bosch GmbH, DENSO Corporation, Toyota Industries Corporation, Hitachi Automotive Systems Ltd, Meidensha Corporation, Aptiv PLC (BorgWarner Inc.), Mitsubishi Electric Corporation,Marelli Corporation, Valeo Group, Lear Corporation, Continental AG, Drive System Design, LG-Magna, John Deere Electronic Solutions, Drive System Design LTD, Hyundai Mobis Co. Ltd, Fraunhofer ISE, Eaton Corporation PLC, Exalta Oxy Neuron, Infineon Technologies AG, CWB Automotive Electronics Co. Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global electric vehicle power inverter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric vehicle power inverter market
Detailed Segmentation:
- Gloabl Electric Vehicle Power Inverter Market, By Propulsion Type:
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- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Gloabl Electric Vehicle Power Inverter Market, By Vehicle Type:
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- Passenger Cars
- Commercial Vehicles
- Gloabl Electric Vehicle Power Inverter Market, By Geography:
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- North America
- Europe
- Asia-Pacific
- Rest of the world
- Company Profiles:
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- Vitesco Technologies
- Robert Bosch GmbH
- DENSO Corporation
- Toyota Industries Corporation
- Hitachi Automotive Systems Ltd
- Meidensha Corporation
- Aptiv PLC (BorgWarner Inc.)
- Mitsubishi Electric Corporation
- Marelli Corporation
- Valeo Group
- Lear Corporation
- Continental AG
- Drive System Design
- LG-Magna
- John Deere Electronic Solutions
- Drive System Design LTD
- Hyundai Mobis Co. Ltd
- Fraunhofer ISE
- Eaton Corporation PLC
- Exalta Oxy Neuron
- Infineon Technologies AG
- CWB Automotive Electronics Co. Ltd
